XML 58 R39.htm IDEA: XBRL DOCUMENT v3.8.0.1
Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2017
Debt Disclosure [Abstract]  
Carrying Value of Long-Term Debt
Long-term debt as of December 31, 2017 is as follows:
(dollars in millions)
 
Interest Rate
 
Principal
 
Unamortized Discount and Deferred Financing Costs
 
Total
Senior secured asset-based revolving credit facility
 
%
 
$

 
$

 
$

CDW UK revolving credit facility
 
%
 

 

 

Senior secured term loan facility (1)
 
3.7
%
 
1,468.0

 
(2.0
)
 
1,466.0

CDW UK term loan
 
1.9
%
 
75.7

 
(1.4
)
 
74.3

Senior notes due 2023
 
5.0
%
 
525.0

 
(4.5
)
 
520.5

Senior notes due 2024
 
5.5
%
 
575.0

 
(5.2
)
 
569.8

Senior notes due 2025
 
5.0
%
 
600.0

 
(7.3
)
 
592.7

Other long-term obligations
 
 
 
12.2

 

 
12.2

Total debt
 
 
 
3,255.9

 
(20.4
)
 
3,235.5

Less current maturities
 
 
 
(25.5
)
 

 
(25.5
)
Long-term debt, excluding current maturities
 
 
 
$
3,230.4

 
$
(20.4
)
 
$
3,210.0


(1)
The Senior secured term loan facility has a variable interest rate, which has effectively been capped through the use of an interest rate cap (see Note 9 (Financial Instruments)). The interest rate disclosed represents the variable interest rate in effect as of year ended December 31, 2017.
Long-term debt as of December 31, 2016 is as follows:
(dollars in millions)
 
Interest Rate
 
Principal
 
Unamortized Discount and Deferred Financing Costs
 
Total
Senior secured asset-based revolving credit facility
 
%
 
$

 
$

 
$

CDW UK revolving credit facility
 
%
 

 

 

Senior secured term loan facility
 
3.3
%
 
1,483.0

 
(14.9
)
 
1,468.1

CDW UK term loan
 
1.8
%
 
69.1

 
(1.6
)
 
67.5

Senior notes due 2022
 
6.0
%
 
600.0

 
(5.6
)
 
594.4

Senior notes due 2023
 
5.0
%
 
525.0

 
(5.3
)
 
519.7

Senior notes due 2024
 
5.5
%
 
575.0

 
(6.0
)
 
569.0

Other long-term obligations
 
 
 
15.7

 

 
15.7

Total long-term debt
 
 
 
3,267.8

 
(33.4
)
 
3,234.4

Less current maturities of long-term debt
 
 
 
(18.5
)
 

 
(18.5
)
Long-term debt, excluding current maturities
 
 
 
$
3,249.3


$
(33.4
)

$
3,215.9

Schedule of Long-term Debt Maturities
A summary of Long-term debt maturities is as follows:
(in millions)
 
 
Years ending December 31,
 
Total
2018
 
$
25.5

2019
 
25.7

2020
 
25.9

2021
 
70.3

2022
 
14.9

Thereafter
 
3,093.6

 
 
$
3,255.9

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
The approximate fair values and related carrying values of the Company's long-term debt, including current maturities and excluding unamortized discount and unamortized deferred financing costs, were as follows:
 
 
December 31,
(in millions)
 
2017
 
2016
Fair value
 
$
3,366.5

 
$
3,334.8

Carrying value
 
3,255.9

 
3,267.8