DEBT (Tables)

3 Months Ended

Mar. 31, 2020

DEBT

Schedule of debt

The Company’s debt consisted of the following as of March 31, 2020 and December 31, 2019 (in millions):

	March 31, 2020		December 31, 2019
$300 million Term Loan Agreement due December 2021, floating rate	$	222.7	$	222.4
$650 million fixed rate Senior Notes due January 2027, stated rate of 3.650%		645.4		645.2
Revolving Credit Agreement		—		—
Total debt	$	868.1	$	867.6

Schedule of maturities of long-term debt

The future expected loan repayments related to the Term Loan Agreement and the 3.650% Senior Notes as of March 31, 2020 are as follows (in millions):

Remainder of 2020	$	—
2021		225.0
2022		—
2023		—
2024		—
Thereafter		650.0
Principal amounts repayable		875.0
Debt issuance cost		(3.0)
Unamortized discounts on notes		(3.9)
Total debt outstanding	$	868.1

Schedule of interest expense

Interest expense recognized on the Term Loan Agreement and the 3.650% Senior Notes is included in interest expense, net in the condensed consolidated statements of income, for the three months ended March 31, 2020 and 2019 is as follows (in millions):

	Three Months Ended
	March 31,
	2020		2019
Components of interest expense:
Contractual interest	$	7.5	$	9.8
Amortization of debt discount		0.1		0.2
Amortization of debt issuance costs		0.4		0.4
Interest expense	$	8.0	$	10.4
Interest income		(0.7)		(0.5)
Interest expense, net	$	7.3	$	9.9