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Debt and Credit Arrangements (Tables) | 12 Months Ended
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Dec. 31, 2021
Debt Disclosure [Abstract] |
Summary of Outstanding Borrowings and Costs | The following table represents the components of our borrowings:
| December 31,
| 2021 |  | 2020
Senior secured revolving credit facilities and term loan: |  |  |
Senior secured revolving credit facility due October 2026 (1) (2) | $ | 600.8 |  |  | $ | — |
Term loan due June 2024 | — |  |  | 103.1 |
Senior secured revolving credit facility due June 2024 | — |  |  | 123.5 |
Unamortized debt issuance costs | — |  |  | (5.0) |
Senior secured revolving credit facility and term loan, net of debt issuance costs | 600.8 |  |  | 221.6 |
Convertible notes due November 2024: |  |  |
Principal amount | 258.8 |  |  | 258.8 |
Unamortized discount (3) | — |  |  | (34.8) |
Unamortized debt issuance costs | (2.9) |  |  | (3.1) |
Convertible notes due November 2024, net of unamortized discount and debt issuance costs | 255.9 |  |  | 220.9 |
Total debt, net of unamortized discount and debt issuance costs | 856.7 |  |  | 442.5 |
Less: current maturities (4) | 255.9 |  |  | 220.9 |
Long-term debt | $ | 600.8 |  |  | $ | 221.6 |
_______________ (1)As of December 31, 2021, there was $600.8 outstanding under the senior secured revolving credit facility due October 2026 bearing a weighted-average interest rate of 2.1% and $30.0 in letters of credit and bank guarantees outstanding supported by the senior secured revolving credit facility due October 2026. As of December 31, 2021 the senior secured revolving credit facility due October 2026 had availability of $369.2. (2)A portion of borrowings outstanding under our senior secured revolving credit facilities due October 2026 is denominated in euros (“EUR Revolver Borrowings”). EUR Revolver Borrowings outstanding were 78.0 million euros (equivalent to $88.3) at December 31, 2021. (3)We derecognized the debt discount associated with the convertible notes due November 2024 upon adoption of ASU 2020-06 on January 1, 2021. (4)Our convertible notes due November 2024, net of unamortized discount and debt issuance costs, are included in current maturities for both periods presented.
Schedule of Interest Expense and Financing Cost Amortization | The following table summarizes interest expense and financing costs amortization related to the Amended SSRCF and our previous credit facilities:
| Year Ended December 31,
| 2021 |  | 2020 |  | 2019
Interest expense, senior secured revolving credit facilities due October 2026 | $ | 2.5 |  |  | $ | — |  |  | $ | — |
Interest expense, term loan due June 2024 | 1.8 |  |  | 4.8 |  |  | 3.1 |
Interest expense, senior secured revolving credit facilities due June 2024 | 4.7 |  |  | 2.2 |  |  | 2.2 |
Total interest expense | $ | 9.0 |  |  | $ | 7.0 |  |  | $ | 5.3 |
Financing costs amortization, senior secured revolving credit facility due October 2026 | $ | 0.4 |  |  | $ | — |  |  | $ | — |
Financing costs amortization, senior secured revolving credit facility and term loan due June 2024, write off of unamortized deferred debt issuance costs | 3.8 |  |  | — |  |  | — |
Financing costs amortization, new debt issuance costs immediately charged to net income | 0.3 |  |  | — |  |  | — |
Financing costs amortization, senior secured revolving credit facility and term loan due June 2024 | 2.9 |  |  | 3.6 |  |  | 2.0 |
Total financing costs amortization | $ | 7.4 |  |  | $ | 3.6 |  |  | $ | 2.0 |
Schedule of Interest Accretion, Loss on Extinguishment, and Amortization of Financing Costs | The following table summarizes interest accretion of the 2024 Notes discount, 1.0% contractual interest coupon and financing costs amortization associated with the 2024 Notes:
| Year Ended December 31,
| 2021 |  | 2020 |  | 2019
2024 Notes, interest accretion of convertible notes discount | $ | — |  |  | $ | 8.0 |  |  | $ | 7.6 |
2024 Notes, 1.0% contractual interest coupon | 2.6 |  |  | 2.6 |  |  | 2.6 |
2024 Notes, total interest expense | $ | 2.6 |  |  | $ | 10.6 |  |  | $ | 10.2 |
2024 Notes, financing costs amortization | $ | 0.9 |  |  | $ | 0.7 |  |  | $ | 0.7 |

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