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Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

The Company's long-term debt consists of the following (annualized interest rates, dollars in millions): 

			As of
			December 31, 2019						December 31, 2018
Amended Credit Agreement:
Revolving Credit Facility due 2024, interest payable monthly at 3.30% and 3.77%, respectively			$	800.0					$	400.0
Term Loan “B” Facility due 2026, interest payable monthly at 3.80% and 4.27%, respectively			1,630.9						1,134.5
1.00% Notes due 2020 (1)			690.0						690.0
1.625% Notes due 2023 (2)			575.0						575.0
Other long-term debt (3)			53.3						139.5
Gross long-term debt, including current maturities			3,749.2						2,939.0
Less: Debt discount (4)			(102.7)						(139.4)
Less: Debt issuance costs (5)			(34.0)						(33.5)
Net long-term debt, including current maturities			3,612.5						2,766.1
Less: Current maturities			(736.0)						(138.5)
Net long-term debt			$	2,876.5					$	2,627.6

_______________________

(1)Interest is payable on June 1 and December 1 of each year at 1.00% annually.

(2)Interest is payable on April 15 and October 15 of each year at 1.625% annually.

(3)Consists of U.S. real estate mortgages, term loans, revolving lines of credit, notes payable and other facilities at certain international locations where interest is payable weekly, monthly or quarterly, with interest rates between 1.00% and 4.00% and maturity dates between 2019 and 2022.

(4)Debt discount of $20.4 million and $41.6 million for the 1.00% Notes, $71.8 million and $88.5 million for the 1.625% Notes and $10.5 million and $9.3 million for the Term Loan "B" Facility, in each case as of December 31, 2019 and December 31, 2018, respectively.

(5)Debt issuance costs of $2.8 million and $5.8 million for the 1.00% Notes, $6.9 million and $8.5 million for the 1.625% Notes and $24.3 million and $19.2 million for the Term Loan "B" Facility, in each case as of December 31, 2019 and December 31, 2018, respectively.

Schedule of Annual Maturities Relating to Long-Term Debt

Expected maturities relating to the Company’s gross long-term debt (including current maturities) as of December 31, 2019 are as follows (in millions): 

						Annual Maturities
2020						$	759.6
2021						16.4
2022						16.4
2023						591.4
2024						816.3
Thereafter						1,549.1
Total						$	3,749.2

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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.

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Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.

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