v3.25.2
DEBT (Tables)
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Schedule Debt and Capital Lease Obligations
The Company’s debt obligations consisted of the following:
 (dollars in millions)Maturity DateInterest RateJune 30, 2025December 31, 2024
Term Loans (1)
2030
SOFR plus 1.75%
$829.7 $1,030.0 
Senior Notes - $800 million (2)
20283.875%794.8 794.0 
Total debt1,624.5 1,824.0 
Less: current installments of long-term debt— 10.4 
Total long-term debt$1,624.5 $1,813.6 

(1) Term loans, net of unamortized discounts and debt issuance costs of $6.5 million and $8.8 million at June 30, 2025 and December 31, 2024, respectively. The effective interest rate was 4.6% and 3.0% at June 30, 2025 and December 31, 2024, respectively, including the effects of interest rate swaps and net investment hedges. See Note 7, Financial Instruments, to the unaudited Condensed Consolidated Financial Statements for further information regarding the Company's interest rate swaps and net investment hedges.
(2) Senior notes, net of unamortized debt issuance costs of $5.2 million and $6.0 million at June 30, 2025 and December 31, 2024, respectively. The effective interest rate was 4.1% at both June 30, 2025 and December 31, 2024.