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v3.20.2

Long-Term Debt (Tables) | 9 Months Ended
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Sep. 30, 2020
Debt Disclosure [Abstract] |
Schedule of Long-term Debt | Long-term debt consisted of the following:
| Effective |  | September 30, 2020 |  | December 31, 2019
In millions | Interest Rate |  | Book Value |  | Fair Value 1 |  | Book Value |  | Fair Value 1
Senior Credit and 364 Day Facility: |  |  |  |  |  |  |  |  |
U.S. dollar-denominated Term Loans, net of unamortized debt issuance costs of $1.3 and $1.1 | 2.3 | % |  | 754.7 |  |  | 754.7 |  |  | 684.7 |  |  | 684.7 |
Multi-Currency Revolving loan facility net of unamortized debt issuance costs of $1.1 and $0.9 | 1.5 | % |  | — |  |  | — |  |  | 231.5 |  |  | 231.5 |
Floating Senior Notes, due 2021, net of unamortized debt issuance costs of $0 and $2.0 | — | % |  | — |  |  | — |  |  | 498.0 |  |  | 500.0 |
4.375% Senior Notes, due 2023, net of unamortized discount and debt issuance costs of $0.7 and $0.9 | 4.5 | % |  | 249.3 |  |  | 263.9 |  |  | 249.1 |  |  | 263.9 |
4.15% Senior Notes, due 2024, net of unamortized debt issuance costs of $4.7 and $5.7 | 4.6 | % |  | 745.3 |  |  | 810.4 |  |  | 744.3 |  |  | 805.5 |
3.20% Senior Notes, due 2025, net of unamortized debt discount and debt issuance costs of $4.6 and $0 | 3.4 | % |  | 495.4 |  |  | 523.8 |  |  | — |  |  | — |
3.45% Senior Notes, due 2026, net of unamortized debt issuance costs of $1.3 and $1.5 | 3.5 | % |  | 748.7 |  |  | 793.7 |  |  | 748.5 |  |  | 759.1 |
4.70% Senior Notes, due 2028, net of unamortized debt issuance costs of $8.5 and $9.2 | 5.0 | % |  | 1,241.5 |  |  | 1,448.2 |  |  | 1,240.8 |  |  | 1,378.3 |
Other Borrowings |  |  | 19.8 |  |  | 19.8 |  |  | 32.4 |  |  | 32.4 |
Total |  |  | 4,254.7 |  |  | 4,614.5 |  |  | 4,429.3 |  |  | 4,655.4 |
Less - current portion |  |  | 454.8 |  |  |  |  | 95.7 |  |  |
Long-term portion |  |  | $ | 3,799.9 |  |  |  |  | $ | 4,333.6 |  |  |
1. See Note 14 for information on the fair value measurement of the Company's long-term debt.
Schedule of Debt |
Interest Coverage Ratio 1 |  | 3.0x
Leverage Ratio 2 |  | 3.25x
1. The interest coverage ratio is defined as EBITDA, as defined in the Senior Credit Facility, to net interest expense for the four quarters then ended. 2. The leverage ratio is defined as net debt as of the last day of such fiscal quarter to EBITDA, as defined in the Senior Credit Facility, for the four quarters then ended. The Leverage Ratio temporarily increases for four quarters following major acquisitions. Subsequent to the GE Transportation acquisition, the leverage ratio was temporarily increased to 3.5x for the first and second quarters of 2020.
Schedule of Line of Credit Facilities | The following table presents availability under the Revolving Facilities:
(in millions) |  | Revolving Credit Facility |  | 364 Day Revolver
Maximum Availability |  | $ | 1,200.0 |  |  | $ | 144.0 |
Outstanding Borrowings |  | — |  |  | — |
Letters of Credit Under Revolving Facility |  | 19.5 |  |  | — |
Current Availability |  | $ | 1,180.5 |  |  | $ | 144.0 |

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