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Debt (Tables)

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Schedule of long term debt

Debt for the Company consists of the following:

			September 30, 2020												December 31, 2019
(in millions, except percentages)			Amount						Rate						Amount						Rate						Maturity Date
2019 Credit Agreement:
Term A Facility			$	409.1					(1)						$	425.0					(2)						October 16, 2024
Revolver			—						(1)						—						(2)						October 16, 2024
2026 Senior Notes			600.0						5.500%						600.0						5.500%						June 15, 2026
2023 Senior Notes			450.0						5.625%						450.0						5.625%						October 15, 2023
Securitized debt			—						(3)						—						(3)						April 6, 2021
Finance lease obligations (4)			73.1												64.1												Various
Other			3.1												7.9												Various
Total debt			1,535.3												1,547.0
Less: Deferred financing costs			5.3												7.0
Total debt, net			1,530.0												1,540.0
Less: Current portion			35.4												37.4
Total long-term debt, net			$	1,494.6											$	1,502.6

(1)			Interest at LIBOR plus applicable margin of 1.250% as of September 30, 2020.
(2)			Interest at LIBOR plus applicable margin of 1.625% as of December 31, 2019.
(3)			Interest at one month LIBOR index plus 80 basis points.
(4)			Finance lease obligations are a non-cash financing activity. Refer to Note 6, "Leases".

Fair value of financial instruments

The fair values of these material financial instruments are as follows:

						Fair Value
(in millions)						September 30, 2020						December 31, 2019
2023 Senior Notes						$	457.6					$	464.2
2026 Senior Notes						623.9						634.9

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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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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