XML 58 R42.htm IDEA: XBRL DOCUMENT v3.21.1

DEBT (Tables)

3 Months Ended

Mar. 31, 2021

DEBT

Schedule of debt

The Company’s debt consisted of the following as of March 31, 2021 and December 31, 2020 (in millions):

​	​	​	​	​	​	​
​		March 31, 2021			December 31, 2020
Term Loan Agreement due December 2021, floating rate	​	$	49.0	​	$	68.7
$500 million fixed rate Senior Notes due December 2030, stated rate of 1.625%	​	​	492.7	​	​	489.3
$650 million fixed rate Senior Notes due January 2027, stated rate of 3.650%	​		646.1	​		645.9
Revolving Credit Agreement	​	​	—	​	​	—
EuroCCP Credit Facility	​	​	—	​	​	—
Total debt	​	$	1,187.8	​	$	1,203.9

Schedule of maturities of long-term debt

The future expected loan repayments related to the Term Loan Agreement and the Senior Notes as of March 31, 2021 are as follows (in millions):

​	​	​	​
Remainder of 2021		$	50.0
2022	​	​	—
2023	​	​	—
2024	​	​	—
2025	​	​	—
Thereafter	​	​	1,150.0
Principal amounts repayable	​	​	1,200.0
Debt issuance cost	​	​	(5.9)
Unamortized discounts on notes	​	​	(6.3)
Total debt outstanding	​	$	1,187.8

Schedule of interest expense

Interest expense, net recognized in the condensed consolidated statements of income for the three months ended March 31, 2021 and 2020 is as follows (in millions):

​

​	​	​	​	​	​	​
​	​	Three Months Ended
​	​	March 31,
​		2021			2020
Components of interest expense:	​	​	​	​	​	​
Contractual interest	​	$	11.7	​	$	7.5
Amortization of debt discount and issuance costs	​		0.7	​		0.5
Interest expense	​	$	12.4	​	$	8.0
Interest income	​	​	(0.1)	​	​	(0.7)
Interest expense, net	​	$	12.3	​	$	7.3

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 interest income and expense, including, but not limited to, interest income and expense from investments, loans, and securities.

+ References

No definition available.

+ Details

Name:	us-gaap_InterestIncomeAndInterestExpenseDisclosureTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
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 maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601

+ Details

Name:	us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration