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Debt (Tables)
9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Schedule of Outstanding Debt

Outstanding debt as of September 30, 2024 and December 31, 2023 is summarized as follows:

 

 

 

September 30, 2024

 

 

December 31, 2023

 

Borrowings under senior secured asset based revolving
   credit facility

 

$

128.6

 

 

$

60.0

 

Senior secured second lien notes due 2026

 

 

 

 

 

300.0

 

Senior secured second lien notes due 2031

 

 

300.0

 

 

 

 

Other debt

 

 

43.9

 

 

 

13.7

 

Deferred financing costs

 

 

(5.3

)

 

 

(1.6

)

Total debt

 

 

467.2

 

 

 

372.1

 

Short-term borrowings and current portion of long-term
   debt

 

 

(40.5

)

 

 

(13.4

)

Long-term debt

 

$

426.7

 

 

$

358.7

 

Schedule of Revolving Credit Facility Bear Interest at Variable Rate Based Upon Average Quarterly Availability

 

Average quarterly availability

Alternative Base Rate spread

Term Benchmark, Applicable Overnight Rate, CBR and RFR spread

Category 1

≥ 66% of Aggregate Commitment

0.25%

1.25%

Category 2

< 66% but ≥ 33% of Aggregate Commitment

0.50%

1.50%

Category 3

< 33% of Aggregate Commitment

0.75%

1.75%