Long-term Debt and Short-term Borrowings (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Summary of Notes Payable and Long-Term Debt

Notes payable and long-term debt, listed in order of the priority of security interests in assets of the Company, consisted of the following as of June 30, 2024 and December 31, 2023:

(in millions)	June 30, 2024		December 31, 2023
Euro Senior Secured Term Loan A, due March 2026 (floating interest rate of 5.47% at June 30, 2024 and 5.93% at December 31, 2023)	$	201.7	$	218.2
USD Senior Secured Term Loan A, due March 2026 (floating interest rate of 7.19% at June 30, 2024 and 7.50% at December 31, 2023)		74.6		78.0
Australian Dollar Senior Secured Term Loan A, due March 2026 (floating interest rate of 6.20% at June 30, 2024 and 6.42% at December 31, 2023)		30.2		32.5
U.S. Dollar Senior Secured Revolving Credit Facility, due March 2026 (floating interest rate of 7.19% at June 30, 2024 and 7.4% at December 31, 2023)		82.1		7.3
Australian Dollar Senior Secured Revolving Credit Facility, due March 2026 (floating interest rate of 6.13% at June 30, 2024 and 6.42% at December 31, 2023)		8.0		14.3
Senior Unsecured Notes, due March 2029 (fixed interest rate of 4.25%)		575.0		575.0
Other borrowings		13.9		0.3
Total debt		985.5		925.6
Less:
Current portion		62.2		36.7
Debt issuance costs, unamortized		5.8		6.7
Long-term debt, net	$	917.5	$	882.2

Schedule of Applicable Rate and Undrawn Fee Based on Company's Consolidated Leverage Ratio

The current maturity of the Credit Agreement is March 31, 2026 and the current pricing is as follows:

Consolidated Leverage Ratio	Applicable Rate on Euro/AUD/CDN Dollar Loans	Applicable Rate on Base Rate Loans	Undrawn Fee
> 4.50 to 1.00	2.50 %	1.50 %	0.500 %
≤ 4.50 to 1.00 and > 4.00 to 1.00	2.25 %	1.25 %	0.375 %
≤ 4.00 to 1.00 and > 3.50 to 1.00	2.00 %	1.00 %	0.350 %
≤ 3.50 to 1.00 and > 3.00 to 1.00	1.75 %	0.75 %	0.300 %
≤ 3.00 to 1.00 and > 2.00 to 1.00	1.50 %	0.50 %	0.250 %
≤ 2.00 to 1.00	1.25 %	0.25 %	0.200 %