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Debt (Tables) | 3 Months Ended
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Mar. 31, 2021
Debt Disclosure [Abstract] |
Schedule of Debt Obligations | Our debt obligations consisted of the following as of the periods presented:
|  | March 31, |  |  | December 31, |
|  | 2021 |  |  | 2020 |
|  | (Dollars in millions) |
Term Debt, interest rate of 2.6% |  | $ | 663.0 |  |  | $ | 664.7 |
Revolving Credit Facility ($300.0 million available capacity less amounts reserved for letters of credit, which were $0.8 million and $0.4 million, respectively) |  |  | — |  |  |  | — |
Convertible Senior Notes |  |  | 575.0 |  |  |  | — |
Canada Line of Credit (CDN $7.0 million letter of credit capacity, which was fully utilized; USD $5.6 million and USD $5.4 million, respectively) |  |  | — |  |  |  | — |
Financing lease liabilities (Please refer to Note 13) |  |  | 10.3 |  |  |  | 8.8 |
Total debt |  |  | 1,248.3 |  |  |  | 673.5 |
Less unamortized discount on Term Debt and Convertible Senior Notes |  |  | 109.0 |  |  |  | 1.2 |
Less unamortized debt issuance costs on Term Debt and Convertible Senior Notes |  |  | 15.7 |  |  |  | 4.5 |
Less current portion of long-term debt |  |  | 8.2 |  |  |  | 7.2 |
Long-term debt, less current portion |  | $ | 1,115.4 |  |  | $ | 660.6 |
Schedule of Convertible Senior Notes | The following table presents details of the Notes:
|  | Initial Conversion Rate per $1,000 Principal |  | Initial Conversion Price per Share |
Notes |  | 7.5641 shares |  |  | $132.20 |
Carrying Amount of Liability Component of Notes | The carrying amount of the liability component of the Notes was as follows:
|  | March 31, 2021 |
|  | (Dollars in millions) |
Principal amount |  | $ | 575.0 |
Less: |  |  |  |
Unamortized debt discount |  |  | 107.9 |
Unamortized debt issuance costs |  |  | 11.5 |
Net carrying amount |  | $ | 455.6 |
Summary of Interest Expense Recognized Related to Notes | The following table sets forth total interest expense recognized related to the Notes for the period:
|  | Three Months Ended March 31, 2021 |
|  | (Dollars in millions) |
Contractual interest expense |  | $ | 0.1 |
Amortization of debt discount |  |  | 0.7 |
Amortization of debt issuance costs |  |  | 0.1 |
Total |  | $ | 0.9 |
Schedule of Future Principal Payments and Maturities of Indebtedness, Excluding Financing Lease Obligations | The future principal payments and maturities of our indebtedness, excluding financing lease obligations, are as follows:
Years Ending December 31, |  | Amount |
|  | (Dollars in millions) |
2021 |  | $ | 5.1 |
2022 |  |  | 6.8 |
2023 |  |  | 6.8 |
2024 |  |  | 6.8 |
2025 |  |  | 637.5 |
Thereafter |  |  | 575.0 |
|  | $ | 1,238.0 |

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- Definition Tabular disclosure of borrowings which can be exchanged for a specified number of another security at the option of the issuer or the holder. Disclosures include, but are not limited to, principal amount, amortized premium or discount, and amount of liability and equity components. + References No definition available. + Details
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