Debt |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Debt Disclosure [Abstract] | |
| Debt | 11. Debt For the six months ended June 30, 2025 and 2024, cash payments for interest were $46.7 million and $53.9 million, respectively. Included in interest expense, net is the amortization of financing costs, which includes the amortization of debt issuance costs and amortization of bond discount. For the three months ended June 30, 2025 and 2024, amortization of debt issuance costs was $0.4 million and $0.5 million, respectively, and during the six months ended June 30, 2025 and 2024, amortization of debt issuance costs was $0.8 million and $1.0 million, respectively. For both the three and six month periods ended June 30, 2025 and 2024, the amortization of bond discount was insignificant. At June 30, 2025, we had $2,492.4 million of fixed-rate senior notes outstanding. The fair value of our fixed-rate debt was estimated to be $2,128.7 million. The difference between the book value and fair value is due to the difference between the period-end market interest rate and the stated rate of our fixed-rate debt. We estimated the fair value of our fixed-rate debt using quoted market prices (Level 2 inputs) within the fair value hierarchy, which is further defined in Note 2, Summary of Significant Accounting Policies, of the Notes to Consolidated Financial Statements in "Part II, Item 8. Financial Statements and Supplementary Data" of our 2024 Annual Report on Form 10-K. For more information on our long-term debt and interest rates on that debt, see Note 10, Debt, of the Notes to Consolidated Financial Statements in "Part II, Item 8. Financial Statements and Supplementary Data" of our 2024 Annual Report on Form 10-K. |