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INDEBTEDNESS (Tables) | 9 Months Ended
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Oct. 01, 2022
Debt Disclosure [Abstract] |
Schedule of Debt Activity, Current and Noncurrent | The following summarizes our debt activity (both current and non-current) for the nine months ended October 1, 2022:
| December 31, 2021 |  | Borrowings |  | Repayments |  | Other |  | October 1, 2022
Revolving loans | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Term loan(1)(2) | 242.7 |  |  | 245.0 |  |  | (243.7) |  |  | 0.3 |  |  | 244.3 |
Trade receivables financing arrangement(3) | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other indebtedness(4) | 3.3 |  |  | 0.1 |  |  | (0.8) |  |  | — |  |  | 2.6 |
Total debt | 246.0 |  |  | $ | 245.1 |  |  | $ | (244.5) |  |  | $ | 0.3 |  |  | 246.9 |
Less: short-term debt | 2.2 |  |  |  |  |  |  |  |  | 1.9 |
Less: current maturities of long-term debt | 13.0 |  |  |  |  |  |  |  |  | 0.4 |
Total long-term debt | $ | 230.8 |  |  |  |  |  |  |  |  | $ | 244.6 |
___________________________ (1)As noted below, we amended our senior credit agreement on August 12, 2022. The amendment made available a new term loan facility in the amount of $245.0, the proceeds of which were primarily used to repay the outstanding balance of $237.4 under the then-existing term loan facility. (2)The term loan is repayable in quarterly installments equal to 0.625% of the initial term loan balance of $245.0, beginning in December 2023 and in each of the first three quarters of 2024, and 1.25% during the fourth quarter of 2024, all quarters of 2025 and 2026, and the first two quarters of 2027. The remaining balance is payable in full on August 12, 2027. Balances are net of unamortized debt issuance costs of $0.7 and $1.0 at October 1, 2022 and December 31, 2021, respectively. (3)Under this arrangement, we can borrow, on a continuous basis, up to $50.0, as available. Borrowings under this arrangement are collateralized by eligible trade receivables of certain of our businesses. At October 1, 2022, we had $30.3 of available borrowing capacity under this facility. (4)Primarily includes balances under a purchase card program of $1.9 and $2.2 and finance lease obligations of $0.7 and $1.1 at October 1, 2022 and December 31, 2021, 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.
Schedule of per Annum Fees Charged and the Interest Rate Margins Applicable to Eurodollar and Alternate Base Rate Loans |
Consolidated Leverage Ratio |  | Revolving Commitment Fee |  | Financial Letter of Credit Fee |  | Foreign Credit Instrument (“FCI”) Commitment Fee |  | FCI Fee and Non-Financial Letter of Credit Fee |  | Term Secured Overnight Financing Rate (“SOFR”) Loans/Alternative Currency Loans |  | ABR Loans
Greater than or equal to 3.00 to 1.0 |  | 0.275 | % |  | 1.750 | % |  | 0.275 | % |  | 1.000 | % |  | 1.750 | % |  | 0.750 | %
Between 2.00 to 1.0 and 3.00 to 1.0 |  | 0.250 | % |  | 1.500 | % |  | 0.250 | % |  | 0.875 | % |  | 1.500 | % |  | 0.500 | %
Between 1.50 to 1.0 and 2.00 to 1.0 |  | 0.225 | % |  | 1.375 | % |  | 0.225 | % |  | 0.800 | % |  | 1.375 | % |  | 0.375 | %
Less than 1.50 to 1.0 |  | 0.200 | % |  | 1.250 | % |  | 0.200 | % |  | 0.750 | % |  | 1.250 | % |  | 0.250 | %

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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