DEBT (Tables)

9 Months Ended

Sep. 30, 2020

DEBT

Schedule of debt

	September 30,		December 31,
(In millions)	2020		2019
Private Placement Term Loans:
5.79 %, payable through 2020	$	—	$	3.5
3.66 %, payable through 2023		27.4		31.9
4.16 %, payable through 2027		36.7		39.3
3.37 %, payable through 2027		75.0		75.0
3.14 %, payable through 2031		169.6		188.0
4.31 %, payable through 2032		29.0		30.3
4.35 %, payable through 2044		—		100.0
3.92 %, payable through 2045		—		69.5
Title XI Debt:
5.34 %, payable through 2028		17.6		19.8
5.27 %, payable through 2029		19.8		22.0
1.22 %, payable through 2043		185.9		—
1.35 %, payable through 2044		139.6		—
Revolving credit facility, maturity date of June 29, 2022		123.0		379.1
Total Debt		823.6		958.4
Less: Current portion		(53.4)		(48.4)
Total Long-term Debt		770.2		910.0
Less: Deferred loan fees		(15.7)		—
Total Long-term Debt, net of deferred loan fees	$	754.5	$	910.0

Schedule of maturities of debt

	As of
Year (in millions)	September 30, 2020
Remainder of 2020	$	12.3
2021		59.2
2022		188.0
2023		60.4
2024		51.7
Thereafter		452.0
Total Debt	$	823.6

Schedule of deferred loan fees

Deferred Loan Fees (in millions)	Amount
Deferred financing costs related to Title XI bonds and private placement debt amendments	$	16.5
Deferred fees expensed related to the redemption of private placement debt		(0.3)
Amortization expense for the nine months ended September 30, 2020		(0.5)
Balance at September 30, 2020	$	15.7

Schedule of estimated amortization expense relating to deferred laon fees

Year (in millions)	Amount
Remainder of 2020	$	0.4
2021		1.5
2022		1.2
2023		1.1
2024		1.1
Thereafter		10.4
Total amortization expense of deferred loan fees	$	15.7