Debt |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Debt Disclosure [Abstract] | |
| Debt Disclosure | Debt On June 26, 2026, the Company issued $550.0 million of 5.10% senior unsecured notes due July 15, 2031 (“2026 Notes”). The 2026 Notes were issued at 99.961% of par value. The Company will pay interest on the notes semi-annually on January 15 and July 15, commencing on January 15, 2027. The total discount and issuance costs of $5.0 million are presented on the balance sheet as a reduction of the debt obligation and are being amortized to Interest expense over the 5-year term of the notes. On June 18, 2026, the Company issued an irrevocable redemption notice on its $550.0 million aggregate principal amount of outstanding 4.75% senior unsecured notes issued in 2017 (“2017 Notes”) that were scheduled to mature on July 15, 2027. As such, current and long-term senior notes as of June 30, 2026 reflect the classification of $549.3 million of the Company’s 2017 Notes, net of unamortized debt issuance costs, as current liabilities. On July 20, 2026, the Company used the net proceeds from the 2026 Notes and cash on hand to redeem all of its 2017 Notes.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|