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Debt (Tables)
3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]  
Schedule of outstanding debt

Outstanding debt as of March 31, 2021 and December 31, 2020 are summarized as follows:

 

 

 

March 31, 2021

 

 

December 31, 2020

 

Borrowings under senior secured asset based revolving

   credit facility

 

$

 

 

$

 

Senior secured second lien notes due 2026

 

 

300.0

 

 

 

300.0

 

Other

 

 

13.8

 

 

 

14.7

 

Deferred financing costs

 

 

(3.6

)

 

 

(3.8

)

Total debt

 

 

310.2

 

 

 

310.9

 

Short-term borrowings and current portion of long-term

   debt

 

 

(10.1

)

 

 

(10.5

)

Long-term debt

 

$

300.1

 

 

$

300.4

 

Schedule of revolving credit facility bear interest at variable rate based upon average quarterly availability

Borrowings under the ABL Revolving Credit Facility bear interest at a variable rate using either the Alternative Base Rate or the Eurodollar and Overnight London Interbank Offered Rate (“LIBOR”). The variable interest rate is based upon the average availability as of the most recent determination date as follows:

 

Average quarterly availability

Alternative base rate spread

 

Eurodollar and overnight LIBOR spread

 

≥ 50% of Aggregate Commitment

0.25%

 

1.25%

 

< 50% of Aggregate Commitment

0.50%

 

1.50%