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Debt (Tables)
9 Months Ended
Sep. 30, 2022
Debt  
Schedule of Debt [Table Text Block]

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September 30, 2022

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December 31, 2021

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Interest Rate as of
September 30, 2022

   

Maturity Date

   

Carrying Amount

   

Unamortized Deferred Financing Fees (1)

    

Total Debt, Less Unamortized Deferred Financing Fees

   

Carrying Amount

   

Unamortized Deferred Financing Fees (1)

   

Total Debt, Less
Unamortized Deferred
Financing Fees

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Senior Credit Facility

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2024 Term Loan B

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5.115%

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September 2024

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$

665.2

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$

(5.9)

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$

659.3

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$

670.4

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$

(8.0)

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$

662.4

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2028 Term Loan B

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5.615%

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May 2028

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737.6

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(15.1)

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722.5

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742.8

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(17.0)

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725.8

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2026 Revolving Facility(2)

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Various

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May 2026

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—

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—

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—

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—

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—

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—

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2029 Senior Notes

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5.125%

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April 2029

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447.0

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(13.3)

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433.7

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450.0

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(14.7)

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435.3

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2025 Senior Notes

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5.375%

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September 2025

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500.0

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(4.0)

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496.0

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500.0

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(5.0)

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495.0

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Accounts Receivable Securitization Facility(3)

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Various

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November 2024

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—

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—

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—

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—

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—

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—

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Other indebtedness

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Various

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Various

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3.0

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—

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3.0

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5.6

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—

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5.6

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Total debt

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$

2,352.8

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$

(38.3)

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$

2,314.5

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$

2,368.8

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$

(44.7)

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$

2,324.1

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Less: current portion(4)

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(16.7)

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(18.5)

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Total long-term debt, net of unamortized deferred financing fees

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$

2,297.8

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$

2,305.6

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(1)This caption does not include deferred financing fees related to the Company’s revolving facilities, which are included within “Deferred charges and other assets” on the condensed consolidated balance sheets.
(2)As of September 30, 2022, under the 2026 Revolving Facility, the Company had a capacity of $375.0 million and funds available for borrowing of $369.2 million (net of $5.8 million outstanding letters of credit). Additionally, the Company is required to pay a quarterly commitment fee in respect of any unused commitments under this facility equal to 0.375% per annum.
(3)As of September 30, 2022, this facility had a borrowing capacity of $150.0 million, and the Company had approximately $150.0 million of accounts receivable available to support this facility, based on the pool of eligible accounts receivable.
(4)The current portion of long-term debt was primarily related to $14.5 million of the scheduled future principal payments on both the 2024 Term Loan B and 2028 Term Loan B as of September 30, 2022 and December 31, 2021.