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DEBT (Tables)
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Schedule of Components of Long-Term Debt
The table below details the Company's debt balances, net of discounts and debt issuance costs.
December 31,December 31,
20212020
Amended 2016 Revolving Credit Facility (Tranche A) due 2024 (a)
$108.0 $136.7 
SISO Term Loan Facility due 2024 (a)
126.2 — 
2021 Foreign Asset-Based Term Facility due 2024 (b)
71.2 — 
2020 ABL FILO Term Loans due 2023 (d)
50.0 50.0 
2020 Troubled-debt-restructuring: future interest (c)
42.6 57.8 
2020 BrandCo Term Loan Facility due 2025 (d)(e)
1,749.7 1,719.8 
2016 Term Loan Facility: 2016 Term Loan due 2023 and 2025 (f)
867.9 874.8 
2018 Foreign Asset-Based Term Facility due 2021 (g)
— 57.7 
6.25% Senior Notes due 2024 (i)
426.9 425.4 
Spanish Government Loan due 20250.2 0.3 
Debt$3,442.7 $3,322.5 
Less current portion(*)
(137.2)(217.5)
Long-term debt$3,305.5 $3,105.0 
Short-term borrowings (**)
$0.7 $2.5 
(*) At December 31, 2021, the Company classified $137.2 million as its current portion of long-term debt, comprised primarily of $108.0 million of net borrowings under the Amended 2016 Revolving Credit Facility, net of debt issuance costs, $18.5 million of payments under the 2020 BrandCo Term Loan Facility due within one year and $9.2 million of payments on the 2016 Term Loan Facility due within one year. At December 31, 2020, the Company classified $217.5 million as its current portion of long-term debt, comprised primarily of $136.7 million of net borrowings under the Amended 2016 Revolving Credit Facility, net of debt issuance costs, $57.7 million of the 2018 Foreign Asset-Based Term Facility, net of debt issuance costs and debt discount, $13.7 million of payments under the 2020 BrandCo Term Facility and $9.2 million of payments on the 2016 Term Loan Facility. See below in this Note 8, "Debt," for details regarding the Company's recent debt-related transactions.
(**)The weighted average interest rate on these short-term borrowings outstanding at December 31, 2021 and 2020 was 11.4% and 11.7%, respectively.
Schedule of Debt Instrument Redemption 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
2020
103.125 %
2021
101.563 %
2022 and thereafter
100.000 %
Schedule of Line of Credit Facilities At December 31, 2021, the aggregate principal amounts outstanding and availability under Products Corporation’s various revolving credit facilities were as follows:
CommitmentBorrowing BaseAggregate principal amount outstanding at December 31, 2021
Availability at December 31, 2021 (a)
Tranche A Revolving Credit Facility$270.0 $182.0 $109.6 $72.4 
SISO Term Loan Facility130.0 130.0 130.0 — 
2020 ABL FILO Term Loans50.0 48.0 50.0 — 
(a) Availability as of December 31, 2021 is based upon the Tranche A Revolving borrowing base then in effect under Amendment No.8 to the Amended 2016 Revolving Credit Facility of $182.0 million which includes a $2.0 million reserve for the shortfall of the borrowing base that supports the 2020 ABL FILO Term Loan compared to the corresponding aggregate principal amount outstanding of $50 million), less $109.6 million then drawn.
Schedule of Maturities of Long-term Debt
The aggregate amounts of contractual long-term debt maturities at December 31, 2021 in the years 2022 through 2025 and thereafter are as follows:

Years Ended December 31,Long-Term Debt Maturities
2022$137.4 
(a)
2023904.4 
(b)
2024655.2 
(c)
20251,847.1 
(d)
Thereafter— 
Total long-term debt3,544.1 
Discounts and deferred finance charges(101.4)
Total long-term debt, net of discounts and deferred finance charges$3,442.7 
(a) Amount consists primarily of: (i) $109.6 million aggregate principal amount outstanding at December 31, 2021 under the Amended 2016 Revolving Credit Facility (Tranche A) due 2024; (ii) $18.5 million of quarterly amortization payments due in 2022 under the 2020 BrandCo Facility; and (iii) $9.2 million of quarterly amortization payments due under the 2016 Term Loan Facility during 2022.
(b) Amount consists primarily of: (i) $835.5 million aggregate principal amount outstanding at December 31, 2021 under the 2016 Term Loan Facility due in 2023; (ii) $50.0 million aggregate principal amount outstanding at December 31, 2021 under the 2020 New ABL FILO Term Loans due in 2023 and (iii) $18.5 million of quarterly amortization payments due in 2023 under the 2020 BrandCo Facility.
(c) Amount consists primarily of: (i) $431.3 million aggregate principal amount outstanding at December 31, 2021 under the 6.25% Senior Notes, which are scheduled to mature in August 2024; (ii) $130.0 million aggregate principal amount outstanding at December 31, 2021 under the 2021 SISO Term Loan Facility due 2024; (iii) $75.0 million aggregate principal amount outstanding at December 31, 2021 under the 2021 Foreign Asset-Based Term Facility due 2023 and (iv) $18.5 million of quarterly amortization payments due in 2023 under the 2020 BrandCo Facility.
(d) Amount consists primarily of: (i) $1,817.7 million aggregate principal amount outstanding at December 31, 2021 under the 2020 BrandCo Facility; and (ii) $29.4 million remaining aggregate principal amount outstanding at December 31, 2021 under the 2016 Term Loan Facility due in 2025.