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Long-term Debt

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Long-term Debt

Long-term Debt

Our long-term debt outstanding consists of the following (in millions):

			March 31, 2021						December 31, 2020
Credit Agreement—
Term loan facilities			$	248.3					$	251.6
Bonds payable—
5.125% Senior Notes due 2023			298.3						298.1
5.75% Senior Notes due 2025			346.5						346.3
4.50% Senior Notes due 2028			785.5						785.0
4.75% Senior Notes due 2030			783.5						783.2
4.625% Senior Notes due 2031			393.3						393.2
Other notes payable			39.7						39.8
Finance lease obligations			402.1						391.7
			3,297.2						3,288.9
Less: Current portion			(137.2)						(38.3)
Long-term debt, net of current portion			$	3,160.0					$	3,250.6

In March 2021, we issued notice for redemption of $100 million in outstanding principal amount of the 5.125% Senior Notes due 2023 (the “2023 Notes”). We completed this redemption on April 5, 2021 using cash on hand and capacity under our revolving credit facility. Pursuant to the terms of the 2023 Notes, this optional redemption was made at a price of par. As a result of this redemption, we have classified approximately $100 million of the 2023 Notes as current in our accompanying March 31, 2021 condensed consolidated balance sheet, and we expect to record an approximate $0.6 million loss on early extinguishment of debt in the second quarter of 2021.

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No definition available.

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- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

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