DEBT (Tables)

6 Months Ended

Jun. 30, 2020

DEBT

Schedule of debt

The Company’s debt consisted of the following as of June 30, 2020 and December 31, 2019 (in millions):

	June 30, 2020		December 31, 2019
$300 million Term Loan Agreement due December 2021, floating rate	$	223.0	$	222.4
$650 million fixed rate Senior Notes due January 2027, stated rate of 3.650%		645.6		645.2
Revolving Credit Agreement		—		—
Total debt	$	868.6	$	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 June 30, 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		(2.6)
Unamortized discounts on notes		(3.8)
Total debt outstanding	$	868.6

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 and six months ended June 30, 2020 and 2019 is as follows (in millions):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Components of interest expense:
Contractual interest	$	6.9	$	9.9	$	14.4	$	19.7
Amortization of debt discount		0.1		0.1		0.3		0.3
Amortization of debt issuance costs		0.4		0.5		0.7		0.9
Interest expense	$	7.4	$	10.5	$	15.4	$	20.9
Interest income		(0.1)		(0.5)		(0.8)		(1.0)
Interest expense, net	$	7.3	$	10.0	$	14.6	$	19.9