Long-Term Debt and Capital Leases (Tables)

9 Months Ended

Sep. 30, 2018

Long-Term Debt and Capital Leases

Summary of long-term debt and capital leases

							December 31,
	September 30, 2018						2017
	Available
	borrowing		Effective		Outstanding		Outstanding
	capacity		interest rate (1)		balance		balance
	(in millions)
Long-term debt:
Term B Loans, net(2)	$	—	5.5	%	$	2,246.0	$	2,261.4
Revolving Credit Facility(3)		234.6	5.2	%		60.0		—
Total long-term debt	$	234.6				2,306.0		2,261.4
Capital lease obligations						4.3		2.8
Total long-term debt and capital lease obligations						2,310.3		2,264.2
Debt issuance costs, net(4)						(11.1)		(13.0)
Sub-total						2,299.2		2,251.2
Less current portion						(24.2)		(24.0)
Long-term portion					$	2,275.0	$	2,227.2

(1) Represents the effective interest rate in effect for all borrowings outstanding as of September 30, 2018 pursuant to each debt instrument including the applicable margin.

(2) At September 30, 2018 includes $11.2 million of net discounts.

(3) Available borrowing capacity at September 30, 2018 represents $300.0 million of total availability less borrowing of $60.0 million on the Revolving Credit Facility and outstanding letters of credit of $5.4 million. Letters of credit are used in the ordinary course of business and are released when the respective contractual obligations have been fulfilled by the Company.

(4) At September 30, 2018, debt issuance costs include $8.1 million related to Term B Loans and $3.0 million related to the Revolving Credit Facility.