Indebtedness (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of debt activity (both current and non-current)

The following summarizes our debt activity (both current and non-current) for the year ended December 31, 2017:



	December 31, 2016		Borrowings		Repayments			Other ⁽⁵⁾			December 31, 2017
Revolving loans	$	—	$	54.6	$	(54.6	)	$	—		$	—
Term loans ⁽¹⁾⁽²⁾	339.6		350.0		(341.2		)	(0.7		)	347.7
Trade receivables financing arrangement ⁽³⁾	—		74.0		(74.0		)	—			—
Other indebtedness ⁽⁴⁾	16.6		38.7		(48.8		)	2.6			9.1
Total debt	356.2		$	517.3	$	(518.6	)	$	1.9		356.8
Less: short-term debt	14.8										7.0
Less: current maturities of long-term debt	17.9										0.5
Total long-term debt	$	323.5									$	349.3

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⁽¹⁾	As noted below, we amended our senior credit agreement on December 19, 2017 and proceeds of $350.0 were made available by way of a new term loan facility, with $328.1 utilized to repay, in full, amounts outstanding under the then-existing term loan facility.


⁽²⁾	The new term loan is repayable in quarterly installments of 1.25% of the initial loan amount of $350.0, beginning in the first quarter of 2019, with the remaining balance payable in full on December 19, 2022. Balances are net of unamortized debt issuance costs of $2.3 and $1.6 at December 31, 2017 and December 31, 2016, respectively.


⁽³⁾	Under this arrangement, we can borrow, on a continuous basis, up to $50.0, as available. At December 31, 2017, we had $33.3 of available borrowing capacity under this facility.

⁽⁴⁾

Primarily includes capital lease obligations of $2.1 and $1.7, balances under purchase card programs of $2.8 and $3.9, borrowings under a line of credit in South Africa of $0.0 and $10.2, and borrowings under a line of credit in China of $4.1 and $0.0, at December 31, 2017 and 2016, respectively. The purchase card program allows for payment beyond the normal payment terms for goods and services acquired under the program. As this arrangement extends the payment of these purchases beyond their normal payment terms through third-party lending institutions, we have classified these amounts as short-term debt.


⁽⁵⁾	“Other” primarily includes debt assumed, foreign currency translation on any debt instruments denominated in currencies other than the U.S. dollar, debt issuance costs incurred in connection with the new term loan, and the impact of amortization of debt issuance costs associated with the term loan.

Schedule of per annum fees charged and the interest rate margins applicable to Eurodollar and alternate base rate loans



Consolidated Leverage Ratio	Domestic Revolving Commitment Fee		Global Revolving Commitment Fee		Letter of Credit Fee		Foreign Credit Commitment Fee		Foreign Credit Instrument Fee		LIBOR Rate Loans		ABR Loans
Greater than or equal to 3.00 to 1.0	0.350	%	0.350	%	2.000	%	0.350	%	1.250	%	2.000	%	1.000	%
Between 2.25 to 1.0 and 3.00 to 1.0	0.300	%	0.300	%	1.750	%	0.300	%	1.000	%	1.750	%	0.750	%
Between 1.50 to 1.0 and 2.25 to 1.0	0.275	%	0.275	%	1.500	%	0.275	%	0.875	%	1.500	%	0.500	%
Less than 1.50 to 1.0	0.250	%	0.250	%	1.375	%	0.250	%	0.800	%	1.375	%	0.375	%