FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2025

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, 2025 Using
											Significant
		Total Carrying			Quoted prices in			Significant other			unobservable
		Value at			active market			observable inputs			inputs
(In millions)		December 31, 2025			(Level 1)			(Level 2)			(Level 3)
Corporate Borrowings:
Bifurcated embedded derivative - 6.00%/8.00% Cash/PIK Toggle Senior Secured Exchangeable Notes due 2030		$	12.6		$	—		$	—		$	12.6
Bifurcated embedded derivative - Senior Secured Exchangeable Notes due 2030			131.9			—			—			131.9
Total liabilities at fair value		$	144.5		$	—		$	—		$	144.5


					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)
Corporate Borrowings:
Bifurcated embedded derivative - 6.00%/8.00% Cash/PIK Toggle Senior Secured Exchangeable Notes due 2030		$	157.6		$	—		$	—		$	157.6
Total liabilities at fair value		$	157.6		$	—		$	—		$	157.6

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, 2025 Using
								Significant other			Significant
		Total Carrying			Quoted prices in			observable			unobservable			Total
		Value at			active market			inputs			inputs			Impairment
(In millions)		December 31, 2025			(Level 1)			(Level 2)			(Level 3)			Losses
Property, net:
Property, net		$	22.5		$	—		$	—		$	22.5		$	19.2
Operating lease right-of-use assets:
Operating lease right-of-use assets			42.0			—			—			42.0			24.3
Total		$	64.5		$	—		$	—		$	64.5		$	43.5


					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 July 1, 2025 Using

 

 

Significant other

 

Significant

 

Total Carrying

Quoted prices in

observable

unobservable

Value at

active market

inputs

inputs

(In millions)

 

July 1, 2025

 

(Level 1)

 

(Level 2)

 

(Level 3)

Corporate Borrowings:

Senior Secured Exchangeable Notes due 2030

$

159.0

$

—

$

159.0

$

—

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, 2025 Using

 

 

Significant other

 

Significant

Total Carrying

Quoted prices in

observable

unobservable

Value at

active market

inputs

inputs

(In millions)

December 31, 2025

(Level 1)

(Level 2)

(Level 3)

Current maturities of corporate borrowings

$

19.9

$

—

$

19.9

$

—

Corporate borrowings (excluding derivatives)

3,874.1

—

3,864.0

—

 

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 (excluding derivatives)

3,853.3

—

3,866.3

—