FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2024

FAIR VALUE MEASUREMENTS

Schedule of fair value hierarchy of financial assets carried at fair value on a recurring basis


					Fair Value Measurements at December 31, 2024 Using
											Significant
		Total Carrying			Quoted prices in			Significant other			unobservable
		Value at			active market			observable inputs			inputs
(In millions)		December 31, 2024			(Level 1)			(Level 2)			(Level 3)
Other long-term assets:
Investment in Hycroft warrants		$	0.8		$	—		$	—		$	0.8
Marketable equity securities:
Investment in Hycroft			5.3			5.3			—			—
Total assets at fair value		$	6.1		$	5.3		$	—		$	0.8

Corporate Borrowings:
Derivative liability		$	157.6		$	—		$	—		$	157.6
Total liabilities at fair value		$	157.6		$	—		$	—		$	157.6


					Fair Value Measurements at December 31, 2023 Using
											Significant
		Total Carrying			Quoted prices in			Significant other			unobservable
		Value at			active market			observable inputs			inputs
(In millions)		December 31, 2023			(Level 1)			(Level 2)			(Level 3)
Other long-term assets:
Investment in Hycroft warrants		$	3.3		$	—		$	—		$	3.3
Marketable equity securities:
Investment in Hycroft			5.8			5.8			—			—
Total assets at fair value		$	9.1		$	5.8		$	—		$	3.3

Summary of fair value hierarchy of the Company's assets that were measured at fair value on a nonrecurring basis


					Fair Value Measurements at December 31, 2024 Using
								Significant other			Significant
		Total Carrying			Quoted prices in			observable			unobservable			Total
		Value at			active market			inputs			inputs			Impairment
(In millions)		December 31, 2024			(Level 1)			(Level 2)			(Level 3)			Losses
Property, net:
Property, net		$	16.5		$	—		$	—		$	16.5		$	18.1
Operating lease right-of-use assets
Operating lease right-of-use assets			45.6			—			—			45.6			54.2
Total		$	62.1		$	—		$	—		$	62.1		$	72.3


					Fair Value Measurements at December 31, 2023 Using
								Significant other			Significant
		Total Carrying			Quoted prices in			observable			unobservable			Total
		Value at			active market			inputs			inputs			Impairment
(In millions)		December 31, 2023			(Level 1)			(Level 2)			(Level 3)			Losses
Property, net:
Property, net		$	34.4		$	—		$	—		$	34.4		$	30.3
Operating lease right-of-use assets:
Operating lease right-of-use assets			93.5			—			—			93.5			76.6
Other long-term assets:
Cost method investments (1)			10.3			—			—			10.3			1.0
Total		$	138.2		$	—		$	—		$	138.2		$	107.9

(1)

Impairment losses for cost method investments are recorded in investment expense (income).

Fair Value Measurements at July 22, 2024 Using

Significant other

Significant

Total Carrying

Quoted prices in

observable

unobservable

Value at

active market

inputs

inputs

Total

(In millions)

July 22, 2024

(Level 1)

(Level 2)

(Level 3)

Losses

Corporate Borrowings:

Exchangeable Notes

$

293.6

$

—

$

293.6

$

—

$

—

Schedule of fair value of financial instruments not recognized at fair value for which it is practicable to estimate fair value


					Fair Value Measurements at December 31, 2024 Using
								Significant other			Significant
		Total Carrying			Quoted prices in			observable			unobservable
		Value at			active market			inputs			inputs
(In millions)		December 31, 2024			(Level 1)			(Level 2)			(Level 3)
Current maturities of corporate borrowings		$	64.2		$	—		$	65.0		$	—
Corporate borrowings			3,853.3			—			3,866.3			—


					Fair Value Measurements at December 31, 2023 Using
								Significant other			Significant
		Total Carrying			Quoted prices in			observable			unobservable
		Value at			active market			inputs			inputs
(In millions)		December 31, 2023			(Level 1)			(Level 2)			(Level 3)
Current maturities of corporate borrowings		$	25.1		$	—		$	21.5		$	—
Corporate borrowings			4,552.3			—			3,674.7			—