v3.26.1
Debt and Credit Facility (Tables)
6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Summary of Senior Notes The following table summarizes key details of our Senior Notes:

 

 

 

 

 

 

 

Outstanding

 

 

 

Issuance Date

 

Maturity

 

Effective Interest Rate

 

As of June 30, 2026

 

 

As of December 31, 2025

 

4.50% Senior Notes

 

May 2021

 

June 2031

 

4.7%

 

$

550.0

 

 

$

550.0

 

5.875% Senior Notes

 

November 2025

 

March 2034

 

6.1%

 

 

500.0

 

 

 

500.0

 

Total debt

 

 

 

 

 

 

 

 

1,050.0

 

 

 

1,050.0

 

Unamortized issuance costs

 

 

 

 

 

 

 

 

(11.7

)

 

 

(12.7

)

Total carrying amount

 

 

 

 

 

 

 

$

1,038.3

 

 

$

1,037.3

 

 

Summary of Fair Value of Outstanding Senior Notes

The following table presents the fair value of our outstanding Senior Notes, which are Level 1 liabilities:

 

 

 

 

 

 

 

As of June 30, 2026

 

 

As of December 31, 2025

 

4.50% Senior Notes

 

 

 

 

 

$

526.5

 

 

$

531.4

 

5.875% Senior Notes

 

 

 

 

 

$

494.8

 

 

$

501.6

 

Schedule of Availability and Usage of Revolving Credit Facility

The following table summarizes availability and usage of our Revolving Credit Facility as determined by a borrowing base calculated as of June 30, 2026:

 

Revolving Credit Facility borrowing commitment

 

$

575.0

 

Borrowing base availability

 

$

575.0

 

Less: Outstanding borrowings under Revolving Credit Facility

 

 

 

Less: Outstanding letters of credit under Revolving Credit Facility

 

 

(5.1

)

Remaining borrowing availability

 

$

569.9

 

Summary of Interest Expense Relating to Senior Notes and Revolving Credit Facility

The following table presents interest expense relating to our Senior Notes and Revolving Credit Facility:

 

 

 

Quarter Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Senior Notes interest expense, including debt issuance cost amortization

 

$

14.0

 

 

$

12.4

 

 

$

28.0

 

 

$

24.8

 

Revolving Credit Facility interest expense, including commitment fees and finance cost amortization

 

 

0.7

 

 

 

0.7

 

 

 

1.3

 

 

 

1.3

 

Interest expense on finance lease liabilities

 

 

0.3

 

 

 

0.2

 

 

 

0.5

 

 

 

0.4

 

Interest expense capitalized as construction in progress

 

 

(0.5

)

 

 

(0.8

)

 

 

(0.9

)

 

 

(2.8

)

Total interest expense

 

$

14.5

 

 

$

12.5

 

 

$

28.9

 

 

$

23.7