v3.26.3
Financing Arrangements
 9 Months Ended
Sep. 30, 2026
Debt Disclosure [Abstract]  
Financing Arrangements
Note 6 - Financing Arrangements
As of September 30, 2026 and December 31, 2025, the carrying values of the Company’s borrowings were as follows (in millions):
InstrumentDate of IssuanceMaturity DateElected Interest RateSeptember 30, 2026December 31, 2025
First Lien Term LoanFebruary 1, 2019February 28, 2030
SOFR + 1.75%
$575.3 $579.3 
First Lien Revolving Credit FacilityFebruary 1, 2019February 28, 2028
SOFR + 2.10%
100.0 100.0 
Senior NotesFebruary 2, 2021February 1, 20293.875%553.2 644.7 
Total debt$1,228.5 $1,324.0 
Less: current portion(5.9)(5.9)
Total Long-term debt, net of current portion$1,222.6 $1,318.1 
The effective interest rate on the First Lien Term Loan was 5.89% and 5.71% as of September 30, 2026 and December 31, 2025, respectively.
On May 8, 2026, the Company entered into an amendment of its existing credit agreement that provided for, among other things, an increase to existing commitments under the First Lien Revolving Credit Facility by $26.0 million.
During the nine months ended September 30, 2026, the Company repurchased $93.3 million in aggregate principal amount of its Senior Notes for $78.2 million (in addition to accrued interest of $0.9 million) in cash. During the three and nine months ended September 30, 2026, the repurchases resulted in a gain on debt extinguishment of $3.4 million and $14.4 million, respectively, recorded within Gain on debt extinguishment in the Consolidated Statements of Operations, representing the difference between the net carrying amount of the extinguished notes, inclusive of unamortized original issue discount and debt issuance costs, and the reacquisition price.