Debt, net, consists of the following: | | | | | | | | | | | | | | | | | As of | | (in millions, except percentages) | | June 30,
2026 | | December 31,
2025 | | Short-term debt: | | | | | | AR Facility | | $ | 100.0 | | | $ | — | | | Total short-term debt | | 100.0 | | | — | | | | | | | | Long-term debt: | | | | | | Term loan, due 2032 | | $ | 499.3 | | | $ | 499.3 | | | | | | | | Senior secured notes: | | | | | 7.375% senior secured notes, due 2031 | | 450.0 | | | 450.0 | | | | | | | | Senior unsecured notes: | | | | | 5.000% senior unsecured notes, due 2027 | | — | | | 650.0 | | 4.250% senior unsecured notes, due 2029 | | 500.0 | | | 500.0 | | 4.625% senior unsecured notes, due 2030 | | 500.0 | | | 500.0 | | 6.000% senior unsecured notes, due 2034 | | 500.0 | | | — | | | Total senior unsecured notes | | 1,500.0 | | | 1,650.0 | | | | | | | | Debt issuance costs | | (19.9) | | | (15.9) | | | Total long-term debt, net | | 2,429.4 | | | 2,583.4 | | | | | | | | Total debt, net | | $ | 2,529.4 | | | $ | 2,583.4 | | | | | | | | Weighted average cost of debt | | 5.5 | % | | 5.3 | % |
|