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Debt and Redeemable Preferred Stock (Tables)
6 Months Ended
Jun. 30, 2016
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt

The following table presents the Company’s long-term debt as of June 30, 2016 and December 31, 2015:

 

 

June 30,

 

 

December 31,

 

(In millions)

2016

 

 

2015

 

Senior Secured Notes:

 

 

 

 

 

 

 

Principal amount outstanding

$

305.0

 

 

$

305.0

 

Unamortized original issue discount and issuance costs

 

(12.3

)

 

 

(14.3

)

Senior Secured Notes, net

 

292.7

 

 

 

290.7

 

Asset-Based Facility:

 

 

 

 

 

 

 

Principal amount outstanding

 

24.0

 

 

 

22.0

 

Unamortized debt issuance costs

 

(1.9

)

 

 

(2.4

)

Asset-Based Facility, net

 

22.1

 

 

 

19.6

 

Capital leases

 

4.3

 

 

 

4.1

 

Current portion of long-term debt

 

(2.4

)

 

 

(2.3

)

Total long-term debt, net

$

316.7

 

 

$

312.1

 

 

Schedule of Activity Related to Redeemable Preferred Stock

The following table presents the activity related to the carrying value of Redeemable Preferred Stock during the six months ended June 30, 2016:

 

(In millions)

 

 

 

Balance, December 31, 2015

$

21.9

 

Dividends on Redeemable Preferred Stock, in-kind

 

0.9

 

Accretion of fair value adjustment to Redeemable Preferred Stock

 

0.5

 

Balance, June 30, 2016

$

23.3