v3.25.4
DEBT (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Debt
The Company’s debt at December 31, 2025 and 2024 consists of the following:

(In millions)20252024
Senior secured term loan due 2029 at 4.88% (1)
$450.0 $750.0 
Senior secured notes due 2029 at 4.75%
1,600.0 1,600.0 
Senior unsecured notes due 2030 at 5.95%
895.0 895.0 
Senior unsecured notes due 2029 at 3.625%
400.0 400.0 
Senior unsecured notes due 2028 at 4.375%
400.0 400.0 
Revolving facility due 2027 (2)
— — 
Total debt (par value)$3,745.0 $4,045.0 
Unamortized discount and debt issuance costs(47.4)(63.9)
Total long-term debt, net$3,697.6 $3,981.1 
(1) Our senior secured term loan due 2029 bears interest rate at a rate per annum equal to, at the Company’s option, either (i) SOFR, plus an applicable margin of 1.75%, or (ii) a base rate plus an applicable margin of 0.75%.
(2) Our senior secured revolving credit facility due 2027 (the “Revolving Facility”) bears interest at a rate per annum equal to, at the Company’s option, either (i) SOFR, plus an applicable margin of 1.75%, or (ii) a base rate plus an appliable margin of 0.75%. The Revolving Facility has commitments of $575.0 million. There were no borrowing outstanding under the Revolving Facility as of December 31, 2025 and December 31, 2024.
Schedule of Maturities of Long-term Debt
Annual maturities of long-term debt, excluding unamortized discount and issuance costs, due as of December 31, 2025 are as follows:
(In thousands)20262027202820292030ThereafterTotal
Long-term debt obligation maturities*— — 400.0 2,450 895 — $3,745.0 
* Senior secured term loans B subject to Excess Cash Flow payments to the lenders.