XML 29 R19.htm IDEA: XBRL DOCUMENT v3.21.1

Note 10 - Debt

3 Months Ended

Mar. 31, 2021

Notes to Financial Statements

Debt Disclosure [Text Block]

10. Debt:

The following table presents short-term and long-term debt by issuance as of March 31, 2021 and December 31, 2020:

	Issuance Date		Maturity Date		2021				2020
Short-term debt and current portion of long-term debt:
Syndicated revolving credit facility	Various		Various		$	—			$	50.0
Senior notes:
5.800% senior notes, less unamortized discount and debt issuance costs of $0.0 and $(0.1), respectively	4/6/2011		5/1/2021			450.0				449.9
Finance lease liabilities (1)	Various		Various			14.8				14.4
Short-term debt and current portion of long-term debt						464.8				514.3
Long-term debt:
Senior notes:
3.625% senior notes, less unamortized discount and debt issuance costs of $(10.6) and $(10.7), respectively	5/13/2020		5/15/2050			489.4				489.3
4.125% senior notes, inclusive of unamortized premium, and net of unamortized discount and debt issuance costs of $12.0 and $12.4, respectively	3/6/2019		3/15/2029			612.0				612.4
4.000% senior notes, less unamortized discount and debt issuance costs of $(5.1) and $(5.4), respectively	5/15/2015		6/15/2025			894.9				894.6
5.500% senior notes, less unamortized discount and debt issuance costs of $(4.3) and $(4.3), respectively	5/15/2015		6/15/2045			345.7				345.7
4.125% senior notes, less unamortized discount and debt issuance costs of $(0.9) and $(1.1), respectively	9/12/2012		9/12/2022			349.1				348.9
Finance lease liabilities (1)	Various		Various			10.0				10.3
Syndicated revolving credit facility debt issuance costs	Various		Various			(1.5	)			(1.6	)
Long-term debt						2,699.6				2,699.6
Total debt					$	3,164.4			$	3,213.9

_______________

⁽¹⁾ Refer to Note 5. Leases

As of March 31, 2021 and December 31, 2020, we had senior notes with an aggregate principal amount of $3,150.0 million outstanding, respectively, and were in compliance with our financial and other debt covenants.

As of March 31, 2021, we had a $1,000.0 million committed senior unsecured Credit Facility (the "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, dividend payments, and the share repurchase program (the "Repurchase Program"). As of March 31, 2021, we were in compliance with all financial and other debt covenants under the Credit Facility. As of March 31, 2021 and December 31, 2020, the available capacity under the Credit Facility was $994.9 million and $944.6 million, net of the letters of credit of $5.1 million and $5.4 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