DEBT (Tables)

9 Months Ended

Sep. 30, 2019

DEBT

Schedule of debt

The Company’s debt consisted of the following as of September 30, 2019 and December 31, 2018 (in millions):

	September 30, 2019		December 31, 2018
$300 million Term Loan Agreement due December 2021, floating rate	$	222.0	$	271.1
$650 million fixed rate Senior Notes due January 2027, stated rate of 3.650%		645.1		644.5
$300 million fixed rate Senior Notes due June 2019, stated rate of 1.950%		—		299.8
Revolving Credit Agreement		—		—
Total debt	$	867.1	$	1,215.4

Schedule of maturities of long-term debt

The future expected loan repayments related to the Term Loan Agreement and the Senior Notes as of September 30, 2019 are as follows (in millions):

2019	$	—
2020		—
2021		225.0
2022		—
2023		—
Thereafter		650.0
Principal amounts repayable		875.0
Debt issuance cost		(3.7)
Unamortized discounts on notes		(4.2)
Total debt outstanding	$	867.1

Schedule of interest expense

Interest expense recognized on the Term Loan Agreement and the Senior Notes is included in interest expense, net in the condensed consolidated statements of income, for the three and nine months ended September 30, 2019 and 2018 is as follows (in millions):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Components of interest expense:
Contractual interest	$	8.3	$	10.0	$	28.0	$	29.1
Amortization of debt discount		0.2		0.5		0.5		1.3
Amortization of debt issuance costs		0.3		0.2		1.2		0.5
Interest expense	$	8.8	$	10.7		29.7		30.9
Interest income		(0.6)		(1.1)		(1.6)		(2.4)
Interest expense, net	$	8.2	$	9.6	$	28.1	$	28.5