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Credit Facilities and Lease Obligations (Tables)
 12 Months Ended
Dec. 31, 2022
Borrowings [abstract]  
Contractual Obligation, Fiscal Year Maturity
At December 31, 2022, the aggregate remaining mandatory principal repayments under the Credit Facility are as follows (assuming no further mandatory principal repayments are required based on ECF or net cash proceeds):
Total2023202420252026
Initial Term Loan$280.4 $— $— $280.4 $— 
Incremental Term Loan (i)
$346.8 $18.25 $18.25 $18.25 $292.0 
(i) This assumes that the conditions required for a December 2026 maturity date are satisfied. If such conditions are not satisfied, the Incremental Term Loan matures (and all amounts outstanding thereunder are payable) on March 28, 2025.
Schedule of Credit Facility Activity Activity under our Credit Facility for the periods indicated is set forth below:
Revolver (i)
Term loans
Outstanding balances as of December 31, 2019$— $592.3 
Amount repaid in Q1 2020— $(60.9)
Amount repaid in Q2 2020— $(61.0)
Outstanding balances as of December 31, 2020$— $470.4 
Amount repaid in Q1 2021— (30.0)
Amount borrowed in Q4 2021220.0 365.0 
Amount repaid in Q4 2021(220.0)(145.0)
Outstanding balances as of December 31, 2021$— $660.4 
Amount repaid in Q1 2022— (4.5625)
Amount repaid in Q2 2022— (4.5625)
Amount repaid in Q3 2022— (4.5625)
Amount repaid in Q4 2022— (19.5625)
Outstanding balances as of December 31, 2022$— $627.2 
(i)    In addition to borrowings for the acquisition of PCI, we drew on the Revolver for short term borrowings during certain quarters of 2020, 2021 and 2022, and repaid such borrowings in full within the quarter borrowed. Such intra-quarter borrowings and repayments, other than those related to the acquisition of PCI, are offset against each other, and are excluded from this table.
Borrowings Under the Revolving Facility and Term Loan and Lease Obligations
The following table sets forth, at the dates shown: outstanding borrowings under the Credit Facility, excluding ordinary course letters of credit (L/Cs); notional amounts under our interest rate swap agreements, outstanding lease obligations; and information regarding outstanding L/Cs, surety bonds and overdraft facilities:
Outstanding borrowingsNotional amounts under interest rate swaps (note 20)
December 31
2021		December 31
2022		December 31
2021		December 31
2022
Borrowings under the Revolver (i)
$— $— $— $— 
Borrowings under the Term Loans (i)
Initial Term Loan$295.4 $280.4 $100.0 $100.0 
Incremental Term Loan365.0 346.8 100.0 230.0 
Total$660.4 $627.2 $200.0 $330.0 
Total borrowings under Credit Facility $660.4 $627.2 
Unamortized debt issuance costs related to Term Loans (i)
(4.6)(3.5)
Lease obligations (ii)
138.6 162.4 
$794.4 $786.1 
Total Credit Facility and lease obligations:
Current portion$51.5 $52.2 
Long-term portion742.9 733.9 
$794.4 $786.1 
L/Cs, surety bonds and overdraft facilities:
Outstanding L/Cs under the Revolver$21.0 18.0 
Outstanding L/Cs and surety bonds outside the Revolver27.1 23.8 
Total$48.1 $41.8 
Available uncommitted bank overdraft facilities$198.5 $198.5 
Amounts outstanding under available uncommitted bank overdraft facilities$— $— 
    
(i)    We incur debt issuance costs upon execution of, subsequent security arrangements under, and amendments to, the Credit Facility. Debt issuance costs incurred in 2022 totaling $0.3 ($2.2 in 2021; $0.3 in 2020) in connection with the Revolver were deferred as other assets on our consolidated balance sheets and are amortized on a straight line basis over the term (or remaining term, as applicable) of the Revolver. Debt issuance costs incurred in 2022 totaling $0.3 ($1.8 in 2021; nil in 2020) in connection with our Term Loans were deferred as long-term debt on our consolidated balance sheets and are amortized over their respective terms using the effective interest rate method. In December 2021, we accelerated the amortization of $2.6 of unamortized deferred financing costs related to the termination of the Terminated Term Loan, which we recorded in other charges (see note 15).
(ii)     These lease obligations represent the present value of unpaid lease payment obligations which have been discounted using our incremental borrowing rate on the lease commencement dates. In addition to these lease obligations, we have commitments under additional real property leases not recognized as liabilities as of December 31, 2022, because certain leases had not yet commenced as of such date. A description of these leases and minimum lease payments thereunder are disclosed in note 24. As of December 31, 2022, the current portion of our lease obligations was $35.1 (2021 — $34.5) and the long-term portion was $127.3 (2021 — $104.1).
Contractual Undiscounted Cash Flows For Lease Obligations
At December 31, 2022, the contractual undiscounted cash flows for lease obligations recognized as of such date were as follows:
Years ending December 31Total
2023$42.7 
2024$30.9 
2025$25.5 
2026$21.2 
2027$15.9 
Thereafter$56.9 
$193.1 
Other lease-related expenses that were recognized in the consolidated statement of operations are as follows:
Year ended December 31202020212022
Interest expense on lease obligations$6.1 $6.6 $8.1 
Variable lease payments not included in the measurement of lease obligations$0.8 $0.9 $1.2 
Expenses relating to short-term leases or low-value leases$3.7 $1.5 $1.8 
At December 31, 2022, we had commitments (not recognized as liabilities as of such date) under IT support agreements that require future minimum payments as follows:
2023$25.3 
202420.6 
202515.6 
202612.2 
202711.4 
Thereafter
18.0 
Total future minimum payments
$103.1