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Long-Term Debt (Tables)

9 Months Ended

Jul. 31, 2018

The Company was obligated under the following debt instruments:

	July 31, 2018			October 31, 2017
Senior secured facility:
Revolving credit ABL facility	$	319.5		$	157.0
Term Loan, net of debt issuance costs ($1.9 and $1.8)		122.2			72.9
		441.7			229.9
Less: current maturities		(1.3	)		(0.8	)
Long-term debt, less current maturities	$	440.4		$	229.1

Summary of Specified Secured Leverage Ratio of Term Loan

The Term Loan Agreement requires the Company to maintain a specified secured leverage ratio as follows:

Through July 31, 2018		4.00 to 1.00
Through July 31, 2019		3.75 to 1.00
Through July 31, 2020		3.50 to 1.00
Through July 31, 2021		3.25 to 1.00
Through April 25, 2022		3.00 to 1.00

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details