DEBT (Tables)

12 Months Ended

Dec. 31, 2020

DEBT

Schedule of debt

At December 31, 2020 and 2019, the Company’s debt consisted of the following:

	As of December 31,
(In millions)	2020		2019
Private Placement Term Loans:
5.79 %, payable through 2020	$	—	$	3.5
3.66 %, payable through 2023		22.8		31.9
4.16 %, payable through 2027		34.0		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		27.9		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		182.0		—
1.35 %, payable through 2044		139.6		—
Revolving credit facility, maturity date of June 29, 2022		71.8		379.1
Total Debt		760.1		958.4
Less: Current portion		(59.2)		(48.4)
Total Long-term Debt		700.9		910.0
Less: Deferred loan fees		(15.3)		—
Total Long-term Debt, net of deferred loan fees	$	685.6	$	910.0

Schedule of maturities of debt

	As of
Year (in millions)	December 31, 2020
2021	$	59.2
2022		136.8
2023		60.4
2024		51.7
2025		51.7
Thereafter		400.3
Total Debt	$	760.1

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 year ended December 31, 2020		(0.9)
Balance at December 31, 2020	$	15.3

Schedule of estimated amortization expense relating to deferred laon fees

Year (in millions)	Amount
2021	$	1.5
2022		1.2
2023		1.1
2024		1.1
2025		1.0
Thereafter		9.4
Total amortization expense of deferred loan fees	$	15.3