Debt And Financing (Tables)

12 Months Ended

Dec. 31, 2017

Our outstanding debt as of December 31, 2017 and December 31, 2016 consisted of the following:



As of December 31, 2017 (in millions)	Par Value			Discount			Debt Issuance Costs			Book Value			Stated Interest Rate			Effective Interest Rate
Term Loan	$	595.5		$	(10.4	)	$	(8.3	)	$	576.8		10.1	%	^(a)	10.5	%
ABL Facility	—			—			—			—			N/A			N/A
Secured Second A&R CDA	26.9			—			(0.1		)	26.8			6.3-18.3%			7.8	%
Unsecured Second A&R CDA	48.2			—			(0.3		)	47.9			6.3-18.3%			7.8	%
Lease financing obligations	255.5			—			(0.9		)	254.6			9.0-18.2%			12.1	%
Total debt	$	926.1		$	(10.4	)	$	(9.6	)	$	906.1
Current maturities of Term Loan	(18.0		)	—			—			(18.0		)
Current maturities of Unsecured Second A&R CDA	(1.5		)	$	—		$	—		(1.5		)
Current maturities of lease financing obligations	(11.1		)	—			—			(11.1		)
Long-term debt	$	895.5		$	(10.4	)	$	(9.6	)	$	875.5



As of December 31, 2016 (in millions)	Par Value			Premium/ (Discount)			Debt Issuance Costs			Book Value			Stated Interest Rate			Effective Interest Rate
Term Loan	$	638.5		$	(2.7	)	$	(8.6	)	$	627.2		8.0	%	^(a)	8.2	%
ABL Facility	—			—			—			—			N/A			N/A
Secured Second A&R CDA	28.7			—			(0.6		)	28.1			3.3-18.3%			7.5	%
Unsecured Second A&R CDA	73.2			—			—			73.2			3.3-18.3%			7.5	%
Lease financing obligations	269.9			—			(1.3		)	268.6			9.0-18.2%			12.0	%
Total debt	$	1,010.3		$	(2.7	)	$	(10.5	)	$	997.1
Current maturities of Term Loan	(6.7		)	—			—			(6.7		)
Current maturities of lease financing obligations	(10.1		)	—			—			(10.1		)
Long-term debt	$	993.5		$	(2.7	)	$	(10.5	)	$	980.3


(a)	As of December 31, 2017 and 2016, the stated interest rate represented a variable interest rate of 1, 3 or 6-month LIBOR, with a floor of 1.0% plus a fixed margin of 8.50% and 7.00%, respectively.

Schedule of Maximum Total Leverage Ratio for Remaining Test Periods [Table Text Block]

Our total maximum leverage ratio covenants are as follows:



Four Consecutive Fiscal Quarters Ending	Maximum Total Leverage Ratio	Four Consecutive Fiscal Quarters Ending	Maximum Total Leverage Ratio
December 31, 2017	3.50 to 1.00	December 31, 2019	3.00 to 1.00
March 31, 2018	3.50 to 1.00	March 31, 2020	3.00 to 1.00
June 30, 2018	3.50 to 1.00	June 30, 2020	3.00 to 1.00
September 30, 2018	3.50 to 1.00	September 30, 2020	2.75 to 1.00
December 31, 2018	3.50 to 1.00	December 31, 2020	2.75 to 1.00
March 31, 2019	3.25 to 1.00	March 31, 2021	2.75 to 1.00
June 30, 2019	3.25 to 1.00	June 30, 2021 and thereafter	2.50 to 1.00
September 30, 2019	3.25 to 1.00

Schedule of Maturities of Long-term Debt [Table Text Block]

The principal maturities over the next five years and thereafter of total debt as of December 31, 2017 was as follows:



(in millions)	Term Loan		ABL Facility		Second A&R CDA ^(b)		Lease Financing Obligations^(a)		Total
2018	$	18.0	$	—	$	1.5	$	11.1	$	30.6
2019	18.0		—		1.5		5.8		25.3
2020	18.0		—		1.4		3.8		23.2
2021	18.0		—		1.4		3.3		22.7
2022	523.5		—		69.3		3.6		596.4
Thereafter	—		—		—		227.9		227.9
Total	$	595.5	$	—	$	75.1	$	255.5	$	926.1


(a)	Lease financing obligations subsequent to 2022 of $227.9 million represent principal cash obligations of $7.6 million and the estimated net book value of the underlying assets at the expiration of their associated lease agreements of $220.3 million.


(b)	Second A&R CDA obligations represent principal cash obligations per the amended Second A&R CDA dated January 30, 2018.

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]

The book value and estimated fair values of our long-term debt, including current maturities and other financial instruments, are summarized as follows:



	December 31, 2017				December 31, 2016
(in millions)	Book Value		Fair Value		Book Value		Fair Value
Term Loan	$	576.8	$	596.9	$	627.2	$	638.1
ABL Facility	—		—		—		—
Lease financing obligations	254.6		257.7		268.6		259.1
Second A&R CDA	74.7		75.3		101.3		101.8
Total debt	$	906.1	$	929.9	$	997.1	$	999.0