Debt, Interest Income, Expense, and Other Finance Costs

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Debt, Interest Income, Expense, and Other Finance Costs

6. Debt, Interest Income, Expense, and Other Finance Costs

Credit Facility

On April 1, 2022, the Company entered into Amendment No. 8 to Fourth Amended and Restated Credit Agreement (the "Amendment") to: (i) increase the revolving credit facility to $1.5 billion; (ii) provide a new term loan of $500 million, thereby increasing the total borrowing capacity under the credit facility to $2.0 billion; (iii) modify the pricing of the loans, including the reference rates for various currencies to reflect the discontinuation of LIBOR; (iv) extend the maturity to April 1, 2027; and (v) modify certain financial and other covenants to provide greater operating flexibility.

Long-Term Debt

Our outstanding debt consists of the following (in millions):

	June 30, 2022		December 31, 2021
Credit Facility	$	525.0	$	—
Term loans	494.7		484.1
Finance leases	17.6		21.2
Other	3.0		3.3
Total debt	1,040.4		508.7
Less: Current maturities of long-term debt and finance leases	16.3		30.6
Long-term debt	$	1,024.1	$	478.1

Interest Expense

The following table provides additional information about our Interest income (expense), and other financing costs, net (in millions):

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2022		2021		2022		2021
Interest income	$	1.3	$	1.4	$	3.8	$	3.7
Interest expense and other financing costs	(27.8)		(11.4)		(44.6)		(22.5)
Interest expense and other financing costs, net	$	(26.5)	$	(10.0)	$	(40.9)	$	(18.7)