Lines of Credit and Financing Arrangements (Tables)

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Summary of outstanding debt obligations

The following table summarizes our outstanding debt obligations and their classification in the accompanying Consolidated Balance Sheets (in millions):

	As of March 31, 2020		As of December 31, 2019
Current maturities of long-term debt:
Asset securitization program	$	215.0	$	285.0
Finance lease obligations	8.2		7.8
Domestic credit facility	30.0		30.0
Debt issuance costs	(0.9)		(0.9)
Total current maturities of long-term debt	$	252.3	$	321.9
Long-Term Debt:
Finance lease obligations	26.2		25.9
Domestic credit facility	815.5		475.5
Senior unsecured notes	350.0		350.0
Debt issuance costs	(1.8)		(2.1)
Total long-term debt	$	1,189.9	$	849.3
Total debt	$	1,442.2	$	1,171.2

Eligible amounts available and beneficial interests sold

	As of March 31, 2020		As of December 31, 2019
Eligible amount available under the ASP on qualified accounts receivable	$	215.0	$	320.0
Less: Beneficial interest transferred	(215.0)		(285.0)
Remaining amount available	$	—	$	35.0

Summary of weighted average borrowing rate facility

Our weighted average borrowing rate on the facility was as follows:

	As of March 31, 2020		As of December 31, 2019
Weighted average borrowing rate	2.13	%	2.93	%

Schedule of required ratios under the domestic credit facility

The required ratios under our Domestic Credit Facility are detailed below:

Consolidated Indebtedness to Adjusted EBITDA Ratio no greater than	3.5 : 1.0
Cash Flow to Net Interest Expense Ratio no less than	3.0 : 1.0