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Long-Term Debt and Capital Lease Obligations (Tables)
 3 Months Ended 12 Months Ended
Mar. 31, 2014
Dec. 31, 2013
Long-Term Debt and Capital Lease Obligations    
Summary of the Company's debt and capital leases obligations

 

 

 
   March 31, 2014   December 31,
2013		  
 
    
   Weighted
average
interest
rate(2)		    
  
 
   Available
borrowing
capacity		   Outstanding
balance		   Outstanding
balance		  
 
   (in millions)
  

Long-term debt:

                          

Term B Loans

   $ —     4.82 % $ 1,544.8   $ 1,548.7  

Term B-1 Loans

     —     3.80 %   422.9     423.9  

Revolving Credit Facility(1)

     95.7     3.71 %   92.0     34.0  

Senior Notes

     —     10.25 %   725.0     725.0  

Senior Subordinated Notes, net of discount(3)          

     —     13.38 %   291.3     291.1  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total long-term debt

   $ 95.7     6.74 %   3,076.0     3,022.7  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Capital lease obligations

                 6.7     7.5  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total long-term debt and capital lease obligations

                 3,082.7     3,030.2  

Less current portion

                 (22.4 )   (22.4 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Long-term portion

               $ 3,060.3   $ 3,007.8  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       
(1)
Available borrowing capacity at March 31, 2014 represents $200.0 million of total availability less outstanding borrowings of $92.0 million and letters of credit of $12.3 million. Letters of credit are used in the ordinary course of business. The letters of credit are released when the respective contractual obligations have been fulfilled by the Company.

(2)
Represents the weighted average effective interest rate in effect at March 31, 2014 for all borrowings outstanding pursuant to each debt instrument including the applicable margin. The interest rates presented do not include the impact of interest rate swaps or caps.

(3)
At March 31, 2014, the carrying value of the net original issue discount was $3.7 million.

 

 

 
   December 31, 2013   December 31,
2012		  
 
    
   Weighted
average
interest
rate(2)		    
  
 
   Available
borrowing
capacity		   Outstanding
balance		   Outstanding
balance		  
 
   (in millions)
  

Long-term debt:

                          

Term B Loans

   $ —     4.82 % $ 1,548.7   $ —  

Term B-1 Loans

     —     3.80 %   423.9     —  

Senior Secured Term Loans

     —     —     —     1,910.4  

Revolving Credit facility(1)

     155.3     3.72 %   34.0     20.0  

Senior Notes

     —     10.25 %   725.0     725.0  

Senior Subordinated Notes, net of discounts(3)

     —     13.37 %   291.1     290.5  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total long-term debt

   $ 155.3     6.80 %   3,022.7     2,945.9  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Capital lease obligations

                 7.5     6.1  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total long-term debt and capital lease obligations

                 3,030.2     2,952.0  

Less current portion

                 (22.4 )   (22.6 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Long-term portion

               $ 3,007.8   $ 2,929.4  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       
(1)
Available borrowing capacity at December 31, 2013 represents $200.0 million of total availability less outstanding borrowings of $34.0 million and letters of credit of $10.7 million. Letters of credit are used in the ordinary course of business. The letters of credit are released when the respective contractual obligations have been fulfilled by the Company.

(2)
Represents the weighted average interest rate in effect at December 31, 2013 for all borrowings outstanding pursuant to each debt instrument including the applicable margin. The interest rates presented do not include the impact of interest rate swaps or caps (note 13).

(3)
At December 31, 2013, the carrying value of the net original issue discount was $3.9 million.
Schedule of interest rate terms

 

 

Debt Obligation
  Interest Rate
Revolving Credit Facility   LIBOR plus 3.50% or ABR plus 2.50%.

Term B-1 Loans
 
LIBOR plus 3.25% or ABR plus 2.25%. LIBOR floor of 1.00%.

Term B Loans
 
If the Senior Secured Leverage Ratio, as defined, is greater than 5.00 to 1.00, LIBOR plus 4.00% or ABR plus 3.00%. If the Senior Secured Leverage Ratio, as defined, is less than or equal to 5.00 to 1.00, LIBOR plus 3.75% or ABR plus 2.75%. LIBOR floor of 1.00%.

 

 

Debt Obligation
  Interest Rate
Revolving Credit Facility   LIBOR plus 3.50% or ABR plus 2.50%.

Term B-1 Loans
 
LIBOR plus 3.25% or ABR plus 2.25%. LIBOR floor of 1.00%.

Term B Loans
 
If the Senior Secured Leverage Ratio, as defined, is greater than 5.00 to 1.00, LIBOR plus 4.00% or ABR plus 3.00%. If the Senior Secured Leverage Ratio, as defined, is less than or equal to 5.00 to 1.00, LIBOR plus 3.75% or ABR plus 2.75%. LIBOR floor of 1.00%.
Schedule of amortization of debt issue costs and accretion of debt discount  

 Amortization of debt issue costs and accretion of debt discount, which are both included in interest expense in the accompanying statements of operations, for the three years ended December 31, 2013, 2012 and 2011 are as follows (in millions):

 
   Three years ended
December 31,		  
 
   2013   2012   2011  

Amortization of deferred financing fees

   $ 19.9   $ 14.0   $ 3.5  

Accretion of debt discount

   $ 0.7   $ 0.3   $ —  
Schedule of maturities of long-term debt, excluding capital lease obligations  

Maturities of long-term debt, excluding capital lease obligations, as of December 31, 2013 are as follows (in millions):

 
   Long-term Debt  

Year ended December 31, 2014

   $ 19.9  

Year ended December 31, 2015

     19.9  

Year ended December 31, 2016

     19.9  

Year ended December 31, 2017

     460.7  

Year ended December 31, 2018

     15.6  

Thereafter

     2,490.6  

Unamortized discount

     (3.9 )
       
​ ​ ​ ​ ​

 

   $ 3,022.7  
       
​ ​ ​ ​ ​
​ ​ ​ ​ ​