XML 44 R33.htm IDEA: XBRL DOCUMENT
v3.21.1

Long-Term Debt (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2021
Debt Disclosure [Abstract] |
Schedule of Long-term Debt | Long-term debt consisted of the following:
| Effective |  | March 31, 2021 |  | December 31, 2020
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 $0.5 and $0.9 | 2.3 | % |  | 625.5 |  |  | 625.5 |  |  | 645.1 |  |  | 645.1 |
Multi-Currency Revolving loan facility net of unamortized debt issuance costs of $0.4 and $0.8 | 1.5 | % |  | 149.6 |  |  | 149.6 |  |  | — |  |  | — |
Senior Notes: |  |  |  |  |  |  |  |  |
4.375% Senior Notes, due 2023, net of unamortized discount and debt issuance costs of $0.6 and $0.7 | 4.5 | % |  | 249.4 |  |  | 266.4 |  |  | 249.3 |  |  | 267.0 |
4.15% Senior Notes, due 2024, net of unamortized debt issuance costs of $4.0 and $4.3 | 4.6 | % |  | 746.0 |  |  | 810.8 |  |  | 745.7 |  |  | 817.3 |
3.20% Senior Notes, due 2025, net of unamortized debt discount and debt issuance costs of $4.1 and $4.4 | 3.4 | % |  | 495.9 |  |  | 524.8 |  |  | 495.6 |  |  | 533.4 |
3.45% Senior Notes, due 2026, net of unamortized debt issuance costs of $1.2 and $1.3 | 3.5 | % |  | 748.8 |  |  | 803.1 |  |  | 748.7 |  |  | 819.5 |
4.70% Senior Notes, due 2028, net of unamortized debt issuance costs of $8.0 and $8.2 | 5.0 | % |  | 1,242.1 |  |  | 1,419.1 |  |  | 1,241.8 |  |  | 1472.2
Other Borrowings |  |  | 19.9 |  |  | 19.9 |  |  | 113.2 |  |  | 113.1 |
Total |  |  | 4,277.2 |  |  | 4,619.2 |  |  | 4,239.4 |  |  | 4,667.6 |
Less - current portion |  |  | 353.9 |  |  | 353.9 |  |  | 447.2 |  |  | 447.2 |
Long-term portion |  |  | $ | 3,923.3 |  |  | $ | 4,265.3 |  |  | $ | 3,792.2 |  |  | $ | 4,220.4 |
1. See Note 14 for information on the fair value measurement of the Company's long-term debt.
Schedule of Debt | The Company has agreed that, so long as any lender has any commitment under the Senior Credit Facility, any letter of credit is outstanding under the Senior Credit Facility, or any loan or other obligation is outstanding under the Senior Credit Facility, it will maintain the following as of the end of each fiscal quarter or the period of four quarters the ended:
Interest Coverage Ratio 1 |  | 3.0x
Leverage Ratio 2 |  | 3.25x
1. The interest coverage ratio is defined as EBITDA (defined as earnings before interest, taxes, depreciation and amortization), 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.
Schedule of Line of Credit Facilities | The following table presents availability under the Revolving Credit Facility and the 364 Day Revolver (the "Revolving Facilities"):
(in millions) |  | Revolving Credit Facility |  | 364 Day Revolver
Maximum Availability |  | $ | 1,200.0 |  |  | $ | 144.0 |
Outstanding Borrowings |  | (149.6) |  |  | — |
Letters of Credit Under Credit Agreement |  | (5.8) |  |  | — |
Current Availability |  | $ | 1,044.6 |  |  | $ | 144.0 |

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

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration