Long-Term Debt - (Tables)

3 Months Ended

Apr. 03, 2020

The Company's long-term debt consists of the following (annualized interest rates, in millions):


	As of
	April 3, 2020		December 31, 2019
Amended Credit Agreement:
Revolving Credit Facility due 2024, interest payable monthly at 2.45% and 3.30%, respectively	$	1,965.0	$	800.0
Term Loan “B” Facility due 2026, interest payable monthly at 2.99% and 3.80%, respectively	1,626.8		1,630.9
1.00% Notes due 2020 (1)	690.0		690.0
1.625% Notes due 2023 (2)	575.0		575.0
Other long-term debt (3)	0.7		53.3
Gross long-term debt, including current maturities	$	4,857.5	$	3,749.2
Less: Debt discount (4)	(92.8)		(102.7)
Less: Debt issuance costs (5)	(32.1)		(34.0)
Net long-term debt, including current maturities	$	4,732.6	$	3,612.5
Less: Current maturities	(689.6)		(736.0)
Net long-term debt	$	4,043.0	$	2,876.5

_______________________

(1) Interest is payable on June 1 and December 1 of each year at 1.00% annually.

(2) Interest is payable on April 15 and October 15 of each year at 1.625% annually.

(3) Consists of a term loan, finance lease and other facility at certain international locations where interest is payable monthly or quarterly, with interest rates ranging between 1.00% and 1.48% and maturity dates in 2020.

(4) Debt discount of $15.0 million and $20.4 million for the 1.00% Notes, $67.7 million and $71.8 million for the 1.625% Notes and $10.1 million and $10.5 million for the Term Loan "B" Facility, in each case as of April 3, 2020 and December 31, 2019, respectively.

(5) Debt issuance costs of $2.1 million and $2.8 million for the 1.00% Notes, $6.5 million and $6.9 million for the 1.625% Notes and $23.5 million and $24.3 million for the Term Loan "B" Facility, in each case as of April 3, 2020 and December 31, 2019, respectively.

Schedule of Annual Maturities Relating To Long-Term Debt

Expected maturities of gross long-term debt (including current maturities) as of April 3, 2020 are as follows (in millions):


Period	Expected Maturities
Remainder of 2020	$	703.0
2021	16.3
2022	16.3
2023	591.4
2024	1,981.4
Thereafter	1,549.1
Total	$	4,857.5

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details