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LONG-TERM DEBT (Tables)
6 Months Ended
Jun. 30, 2020
LONG-TERM DEBT.  
Schedule of long term debt

Long-term debt consists of the following as of June 30, 2020 and December 31, 2019 (in millions):

​

​

​

​

​

​

​

​

​

​

June 30, 

​

December 31, 

​

    

2020

    

2019

Line of credit

​

$

—

​

$

1.7

Term loan facility

​

​

486.0

​

​

488.5

Equipment term loans

​

​

173.8

​

​

188.4

Finance and capital leases

​

​

29.6

​

​

25.5

​

​

​

689.4

​

​

704.1

Less current portion

​

​

(55.0)

​

​

(59.4)

Less unamortized debt issuance costs

​

​

(9.3)

​

​

(11.4)

Total long-term debt

​

$

625.1

​

$

633.3

Schedule of adjustment for margin of line of credit and senior term loan corresponding to fixed charge coverage ratio.

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​

​

​

​

​

​

Fixed Charge Coverage Ratio

​

Base Rate Margins

​

LIBOR Rate Margins

​

Less than 1.25 to 1.00

​

2.25

%  

3.25

%  

Greater than or equal to 1.25 to 1.00, but less than 1.50 to 1.00

​

1.75

%  

2.75

%  

Greater than or equal to 1.50 to 1.00, but less than 1.75 to 1.00

​

1.25

%  

2.25

%  

Greater than or equal to 1.75 to 1.00

​

0.75

%  

1.75

%  

Schedule of adjustment for margin of line of credit and senior term loan corresponding to RLOC Utilization

​

​

​

​

​

​

​

RLOC Utilization

​

Base Rate Margins

​

LIBOR Rate Margins

​

Less than 33.3%

 

0.50

%  

1.50

%

Greater than or equal to 33.3%, but less than 66.6%

 

0.75

%  

1.75

%

Greater than or equal to 66.6%

 

1.00

%  

2.00

%

Future principal payments on long-term debt

Future principal payments on long-term debt (see Note 2 for future payments on leases) as of June 30, 2020 are as follows (in millions):

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​

​

​

​

​

​

​

​

​

Twelve months ending June 30, 

Term Loan Facility

    

Equipment Term Loans

    

Total

​

​

​

​

​

​

​

​

​

2021

$

5.0

​

$

43.4

​

$

48.4

2022

​

2.5

​

​

40.7

​

​

43.2

2023

​

2.5

​

​

32.8

​

​

35.3

2024

​

476.0

​

​

33.8

​

​

509.8

2025

​

—

​

​

14.9

​

​

14.9

Thereafter

​

—

​

​

8.2

​

​

8.2

Total long-term debt

$

486.0

​

$

173.8

​

$

659.8

​

​

​

​

​

​

​

​

​