XML 29 R19.htm IDEA: XBRL DOCUMENT
v3.20.2

Note 10 - Debt | 9 Months Ended
--- | ---
Sep. 30, 2020
Notes to Financial Statements |
Debt Disclosure [Text Block] | 10. Debt: The following table presents short-term and long-term debt by issuance as of September 30, 2020 and December 31, 2019:
| Issuance Date |  | Maturity Date |  | 2020 |  |  | 2019 |
Short-term debt and current portion of long-term debt: |  |  |  |  |  |  |  |  |  |  |
Syndicated revolving credit facility | Various |  | Various |  | $ | — |  |  | $ | 495.0 |
Senior notes: |  |  |  |  |  |  |  |  |  |  |
5.800% senior notes, less unamortized discount and debt issuance costs of $(0.3) | 4/6/2011 |  | 5/1/2021 |  |  | 449.7 |  |  |  | — |
Finance lease liabilities (1) | Various |  | Various |  |  | 10.7 |  |  |  | 4.4 |
Short-term debt and current portion of long-term debt |  |  | 460.4 |  |  |  | 499.4 |
Long-term debt: |  |  |  |  |  |  |  |  |  |  |
Senior notes: |  |  |  |  |  |  |  |  |  |  |
3.625% senior notes, less unamortized discount and debt issuance costs of $(10.9) | 5/13/2020 |  | 5/15/2050 |  |  | 489.1 |  |  |  | — |
4.125% senior notes, inclusive of unamortized premium, and net of unamortized discount and debt issuance costs of $12.8 and $13.9, respectively | 3/6/2019 |  | 3/15/2029 |  |  | 612.8 |  |  |  | 613.9 |
4.000% senior notes, less unamortized discount and debt issuance costs of $(5.7) and $(6.7), respectively | 5/15/2015 |  | 6/15/2025 |  |  | 894.3 |  |  |  | 893.3 |
5.500% senior notes, less unamortized discount and debt issuance costs of $(4.3) and $(4.5), respectively | 5/15/2015 |  | 6/15/2045 |  |  | 345.7 |  |  |  | 345.5 |
4.125% senior notes, less unamortized discount and debt issuance costs of $(1.2) and $(1.6), respectively | 9/12/2012 |  | 9/12/2022 |  |  | 348.8 |  |  |  | 348.4 |
5.800% senior notes, less unamortized discount and debt issuance costs of $(0.7) | 4/6/2011 |  | 5/1/2021 |  |  | — |  |  |  | 449.3 |
Finance lease liabilities (1) | Various |  | Various |  |  | 9.9 |  |  |  | 3.3 |
Syndicated revolving credit facility debt issuance costs | Various |  | Various |  |  | (1.7 | ) |  |  | (2.1 | )
Long-term debt |  |  | 2,698.9 |  |  |  | 2,651.6 |
Total debt |  | $ | 3,159.3 |  |  | $ | 3,151.0 |
_______________ (1) Refer to Note 5. Leases On May 8, 2020, the Company completed an issuance of $500.0 million aggregate principal amount of 3.625% senior notes due 2050 (the "2050 notes"). The 2050 notes mature on May 15, 2050 and accrue interest at a fixed rate of 3.625% per annum. Interest is payable semiannually on the 2050 notes on May 15th and November 15th of each year, beginning on November 15, 2020. The 2050 notes were issued at a discount of $5.2 million, and the Company incurred debt issuance costs of $5.7 million. The original issue discount and debt issuance costs were included in "Long-term debt" in the accompanying condensed consolidated balance sheets, and these costs will be amortized to "Interest expense" in the accompanying consolidated statements of operations over the life of the 2050 notes. The net proceeds from the issuance of the 2050 notes were utilized to partially repay the committed senior unsecured Syndicated Revolving Credit Facility (the "Credit Facility") and for general corporate purposes. The indenture governing the 2050 notes restricts the Company's ability to, among other things, create certain liens, enter into sale/leaseback transactions and consolidate with, sell, lease, convey or otherwise transfer all or substantially all of the Company's assets, or merge with or into, any other person or entity. As of September 30, 2020 and December 31, 2019, the Company had senior notes with an aggregate principal amount of $3,150.0 million and $2,650.0 million outstanding, respectively, and was in compliance with their financial and other debt covenants. As of September 30, 2020, the Company had a $1,000.0 million committed senior unsecured Credit Facility with Bank of America N.A., HSBC Bank USA, N.A., JP Morgan Chase Bank, N.A., Wells Fargo Bank, National Association, Citibank, N.A., Credit Suisse AG, Cayman Islands Branch, Morgan Stanley Bank, N.A., TD Bank, N.A., and the Northern Trust Company. The Credit Facility may be used for general corporate purposes, including working capital needs and capital expenditures, acquisitions, dividends, and the share repurchase program (the "Repurchase Program"). As of September 30, 2020, the Company was in compliance with all financial and other debt covenants under the Credit Facility. As of September 30, 2020 and December 31, 2019, the available capacity under the Credit Facility was $994.8 million and $500.2 million, net of the letters of credit of $5.2 million and $4.8 million, respectively.

X
- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration