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Debt
 3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Debt Debt
Debt for the Company consists of the following:
March 31, 2022December 31, 2021
(in millions, except percentages)AmountRateAmountRateMaturity Date
2019 Credit Agreement:
Term A Facility$665.9 (1)$675.0 (2)October 16, 2024
Revolver163.3 (1)— (2)October 16, 2024
2031 Senior Notes800.0 3.875%800.0 3.875%October 15, 2031
2029 Senior Notes800.0 4.000%800.0 4.000%April 15, 2029
Securitized debt153.4 (3)— N/AApril 6, 2023
Finance lease obligations (4)
84.6 75.2 Various
Other7.5 3.0 Various
Total debt2,674.7 2,353.2 
Less: Deferred financing costs23.4 21.7 
Total debt, net2,651.3 2,331.5 
Less: Current portion62.4 53.0 
Total long-term debt, net$2,588.9 $2,278.5 
(1)
Interest at LIBOR plus applicable margin of 1.250% as of March 31, 2022.
(2)
Interest at LIBOR plus applicable margin of 1.250% as of December 31, 2021.
(3)
Interest at one month LIBOR index plus 70 basis points.
(4)
New finance lease obligations are a non-cash financing activity.

As of March 31, 2022, the Company was in compliance with all applicable debt covenants.

2019 Credit Agreement

On October 16, 2019, the Company entered into the 2019 Credit Agreement with a syndicate of banks. The 2019 Credit Agreement provides for a $425.0 million revolving credit facility, a $425.0 million term loan facility, and an incremental facility in an aggregate amount of up to $550.0 million plus the amount of certain prepayments plus an additional unlimited amount subject to compliance with a maximum consolidated secured leverage ratio test. The 2019 Credit Agreement has a $60.0 million sub-facility for the issuance of letters of credit.

On February 2, 2021, the Company entered into an amendment to the 2019 Credit Agreement. The amendment increased the revolving credit facility from $425.0 million to $725.0 million. On May 26, 2021, the Company entered into an additional amendment to the 2019 Credit Agreement. The amendment provided for a $300.0 million delayed draw term loan. On July 30, 2021 the Company drew down the full $300.0 million available under the delayed draw term loan to fund, in part, the Dreams acquisition. The delayed draw term loan has the same terms and conditions as the Company's existing term loans under the 2019 Credit Agreement. On September 21, 2021, the Company entered into an additional amendment to the 2019 Credit Agreement to remove the limit to the amount of netted cash that may be deducted from indebtedness for purposes of calculating certain leverage ratios.

The Company had $163.3 million in outstanding borrowings under its revolving credit facility as of March 31, 2022. Total availability under the revolving credit facility was $561.0 million after a $0.7 million reduction for outstanding letters of credit as of March 31, 2022.

Securitized Debt

The Company and certain of its subsidiaries are party to a securitization transaction with respect to certain accounts receivable due to the Company and certain of its subsidiaries (as amended, the "Accounts Receivable Securitization"). On April 6, 2021, the Company and certain of its subsidiaries entered into a new amendment to the Accounts Receivable Securitization. The amendment, among other things, extended the maturity date of the Accounts Receivable Securitization to April 6, 2023 and increased the overall limit from $120.0 million to $200.0 million. While subject to a $200.0 million overall limit, the availability of revolving loans varies over the course of the year based on the seasonality of the Company's accounts receivable. As of March 31, 2022, the Company had fully drawn down the Accounts Receivable Securitization with borrowings of $153.4 million.