XML 25 R15.htm IDEA: XBRL DOCUMENT
v3.8.0.1

INDEBTEDNESS | 9 Months Ended
--- | ---
Sep. 30, 2017
Debt Disclosure [Abstract] |
INDEBTEDNESS | INDEBTEDNESS The following summarizes our debt activity (both current and non-current) for the nine months ended September 30, 2017:
| December 31, 2016 |  | Borrowings |  | Repayments |  | Other(4) |  | September 30, 2017
Revolving loans | $ | — |  |  | $ | 46.4 |  |  | $ | (46.4 | ) |  | $ | — |  |  | $ | — |
Term loan (1) | 339.6 |  |  | — |  |  | (13.1 | ) |  | 0.3 |  |  | 326.8 |
Trade receivables financing arrangement (2) | — |  |  | 70.0 |  |  | (39.0 | ) |  | — |  |  | 31.0 |
Other indebtedness (3) | 16.6 |  |  | 25.6 |  |  | (33.4 | ) |  | 1.4 |  |  | 10.2 |
Total debt | 356.2 |  |  | $ | 142.0 |  |  | $ | (131.9 | ) |  | $ | 1.7 |  |  | 368.0 |
Less: short-term debt | 14.8 |  |  |  |  |  |  |  |  | 39.0 |
Less: current maturities of long-term debt | 17.9 |  |  |  |  |  |  |  |  | 18.0 |
Total long-term debt | $ | 323.5 |  |  |  |  |  |  |  |  | $ | 311.0 |
___________________________
(1) | The term loan is repayable in quarterly installments of 1.25% of the original loan balance of $350.0. The remaining balance is repayable in full on September 24, 2020. Balances are net of unamortized debt issuance costs of $1.3 and $1.6 at September 30, 2017 and December 31, 2016, respectively.
(2) | Under this arrangement, we can borrow, on a continuous basis, up to $50.0, as available. At September 30, 2017, we had $18.3 of available borrowing capacity under this facility.
(3) | Primarily includes balances under a purchase card program of $3.6 and $3.9, capital lease obligations of $2.2 and $1.7, and borrowings under lines of credit in South Africa and China totaling $4.1 and $10.2 at September 30, 2017 and December 31, 2016, respectively. The purchase card program allows for payment beyond the normal payment terms for goods and services acquired under the program. As this arrangement extends the payment of these purchases beyond their normal payment terms through third-party lending institutions, we have classified these amounts as short-term debt.
(4) | “Other” primarily includes debt assumed, foreign currency translation on any debt instruments denominated in currencies other than the U.S. dollar, and the impact of amortization of debt issuance costs associated with the term loan.
Senior Credit Facilities On March 20, 2017, we entered into an amendment to our senior credit facilities. Among other things, the amendment extended the period during which we may reinvest the net proceeds from the disposition of our dry cooling business. A detailed description of our senior credit facilities is included in our 2016 Annual Report on Form 10-K. At September 30, 2017, we had $35.9 and $178.6 of outstanding letters of credit issued under our revolving credit and our foreign credit instrument facilities of our senior credit agreement, respectively. The weighted-average interest rate of outstanding borrowings under our senior credit agreement was approximately 3.0% at September 30, 2017. At September 30, 2017, we were in compliance with all covenants of our senior credit agreement.

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration