v3.25.4
Financing (Tables)
12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Components of Debt
Our debt as of December 31, 2025 and 2024 consisted of the following:
(in millions) December 31,20252024
Term Facility(a)
$898.2 $247.0 
Revolving Facility250.0 — 
Total long-term debt$1,148.2 $247.0 
(a) Debt issuance costs totaled $1.8 million and $0.5 million as of December 31, 2025 and 2024, respectively, and have been netted against the aggregate principal amount.
Capitalization of Long-Term Debt
As of December 31, 2025, our total debt to total capitalization ratio was 35.8%, computed as follows:
(in millions)
Total debt$1,148.2 
Equity2,063.4 
Capitalization$3,211.6 
Total indebtedness to capitalization35.8 %