LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Components of Long-Term Debt

As of December 31, 2018 and 2017, the Company's debt balances consisted of the following:

	December 31,
	2018			2017
2018 Foreign Asset-Based Term Loan Credit Agreement due 2021, net of discounts and debt issuance costs (see (a) below)	$	82.7		$	—
2016 Revolving Credit Facility due 2021, net of debt issuance costs (see (b) below)	330.0			152.1
2016 Term Loan Facility: 2016 Term Loan due 2023, net of discounts and debt issuance costs (see (c) below)	1,724.6			1,735.9
5.75% Senior Notes due 2021, net of debt issuance costs (see (d) below)	496.6			495.1
6.25% Senior Notes due 2024, net of debt issuance costs (see (e) below)	441.4			440.3
Spanish Government Loan due 2025	0.5			0.5
	$	3,075.8		$	2,823.9
Less current portion(*)	(348.1		)	(170.2		)
	$	2,727.7		$	2,653.7
Short-term borrowings	$	9.3		$	12.4

^(*) At December 31, 2018, the Company classified $348.1 million as its current portion of long-term debt, comprised primarily of $330 million of net borrowings under the 2016 Revolving Credit Facility, net of debt issuance costs, and $18 million of amortization payments on the 2016 Term Loan Facility scheduled to be paid over the next four calendar quarters. At December 31, 2017, the Company classified $170.2 million as its current portion of long-term debt, comprised primarily of $152.1 million of net borrowings under the 2016 Revolving Credit Facility, net of debt issuance costs, and $18.1 million of amortization payments on the 2016 Term Loan Facility.

Debt Redemption Prices

Products Corporation may redeem the 6.25% Senior Notes at its option, at any time as a whole, or from time to time in part, at the following redemption prices (expressed as percentages of principal amount), plus accrued interest to (but not including) the date of redemption, if redeemed during the 12-month period beginning on August 1 of the years indicated below:

Period	Optimal Redemption Premium Percentage
2019	104.688	%
2020	103.125	%
2021	101.563	%
2022 and thereafter	100.000	%

Schedule of Line of Credit Facilities

At December 31, 2018, the aggregate principal amounts outstanding and availability under Products Corporation’s various revolving credit facilities were as follows:

	Commitment		Aggregate principal amount outstanding at December 31, 2018		Availability at December 31, 2018 (a)
Tranche A of the 2016 Revolving Credit Facility	$	400.0	$	293.5	$	96.4
Tranche B of the 2016 Revolving Credit Facility	41.5		41.5		N/A
Total Tranche A & B of the 2016 Revolving Credit Facility(a)	$	441.5	$	335.0	$	96.4

^(a) Availability as of December 31, 2018 is based upon the revolving commitment of $441.5 million, less $10.1 million of outstanding undrawn letters of credit and $335.0 million then drawn. As Products Corporation’s consolidated fixed charge coverage ratio was greater than 1.0 to 1.0 as of December 31, 2018, all of the $96.4 million of availability under the 2016 Revolving Credit Facility was available as of such date.

Long-Term Debt Maturities

The aggregate amounts of contractual long-term debt maturities at December 31, 2018 in the years 2019 through 2023 and thereafter are as follows:

Years Ended December 31,	Long-Term Debt Maturities
2019	$	353.1		(a)
2020	18.1			(b)
2021	606.4			(c)
2022	18.1			(b)
2023	1,687.6			(d)
Thereafter	450.0			(e)
Total long-term debt	3,133.3
Discounts and deferred finance charges	(57.5		)
Total long-term debt, net of discounts and deferred finance charges	$	3,075.8

^(a)  Amount consists primarily of $335 million in aggregate principal amount of borrowings under the 2016 Revolving Credit Facility outstanding as of December 31, 2018 and the quarterly amortization payments payable in 2019 under the 2016 Term Loan Facility.

^(b)  Amount consists primarily of the quarterly amortization payments described in (a) above payable in 2020.

^(c)  Amount is primarily comprised of the $500 million in aggregate principal amount under the 5.75% Senior Notes, which are scheduled to mature in February 2021 and the U.S. dollar equivalent of the €77 million in aggregate principal amount under the 2018 Asset-Based Term Facility, in each case outstanding as of December 31, 2018, and the quarterly amortization payment described in (a) above payable in 2021.

^(d)  Amount consists primarily of the quarterly amortization payments due under the 2016 Term Loan Facility during 2023 and the remaining aggregate principal amount outstanding at December 31, 2018 under the 2016 Term Loan Facility, which is scheduled to mature in September 2023.

^(e)  Amount consists of the $450 million aggregate principal amount outstanding at December 31, 2018 under the 6.25% Senior Notes, which are scheduled to mature in August 2024.