Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of debt and finance lease obligations

The Company’s debt obligations consisted of the following:

(dollars in millions)	Maturity Date	Interest Rate	December 31, 2020		December 31, 2019
USD Term Loans (1)	2026	LIBOR plus 2.00%	$	727.5	$	733.4
Senior Notes - USD 800 million (2)	2028	3.875%	788.0		—
Senior Notes - USD 800 million (3)	2025	5.875%	—		786.7
Other			—		0.9
Total debt			1,515.5		1,521.0
Less: current installments of long-term debt			7.4		7.8
Total long-term debt			$	1,508.1	$	1,513.2

(1) Term loans, net of unamortized discounts and debt issuance costs of $7.6 million and $9.1 million at December 31, 2020 and 2019, respectively. The effective interest rate was 2.4% and 2.2% at December 31, 2020 and 2019, respectively, including the effects of interest rate swaps and net investment hedges. See Note 13, Financial Instruments, to the Consolidated Financial Statements for further information regarding the Company's interest rate swaps and net investment hedges.

(2) Senior notes, net of unamortized debt issuance costs of $12.0 million at December 31, 2020. The effective interest rate was 4.1% at December 31, 2020.

(3) Senior notes, net of unamortized discounts and debt issuance costs of $13.3 million at December 31, 2019. The effective interest rate was 6.2% at December 31, 2019.

Schedule of maturities of long-term debt

Minimum future principal payments on long-term debt were as follows:

(dollars in millions)
2021	$	7.4
2022	7.4
2023	7.4
2024	7.4
2025	7.4
Thereafter	1,498.1
Total	$	1,535.1