XML 42 R31.htm IDEA: XBRL DOCUMENT
v3.22.2

Debt and Credit Arrangements (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2022
Debt Disclosure [Abstract] |
Summary of outstanding borrowings | The following table represents the components of our borrowings:
| June 30, 2022 |  | December 31, 2021
Senior secured revolving credit facility due October 2026 (1) (2) | $ | 666.4 |  |  | $ | 600.8 |
Convertible notes due November 2024: |  |  |
Principal amount | 258.8 |  |  | 258.8 |
Unamortized debt issuance costs | (2.4) |  |  | (2.9) |
Convertible notes due November 2024, net of unamortized debt issuance costs | 256.4 |  |  | 255.9 |
Total debt, net of unamortized debt issuance costs | 922.8 |  |  | 856.7 |
Less: current maturities (3) | 256.4 |  |  | 255.9 |
Long-term debt | $ | 666.4 |  |  | $ | 600.8 |
_______________ (1)As of June 30, 2022, there were $666.4 in borrowings outstanding under the senior secured revolving credit facility due October 2026 bearing an interest rate of 2.6% (2.1% as of December 31, 2021) and $61.4 in letters of credit and bank guarantees outstanding supported by the senior secured revolving credit facility due 2026. As of June 30, 2022, the senior secured revolving credit facility due 2026 had availability of $272.2. (2)A portion of borrowings outstanding under our senior secured revolving credit facility due 2026 are denominated in euros (“EUR Revolver Borrowings”). EUR Revolver Borrowings outstanding were euro 88.0 million (equivalent to $91.4) and euro 78.0 million (equivalent to $88.3) at June 30, 2022 and December 31, 2021, respectively. During the three months ended June 30, 2022 and 2021, we recognized an unrealized foreign currency gain of $5.7 and $8.9, respectively, and for the six months ended June 30, 2022 and 2021 we recognized an unrealized foreign currency gain of $6.6 and $5.0 relative to the translation of the EUR Revolver Borrowings outstanding. This unrealized foreign currency gain is classified within foreign currency (gain) loss in the condensed consolidated statements of income for all periods presented. (3)Our convertible notes due November 2024, net of unamortized 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 2026 Credit Facilities:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Interest expense, senior secured revolving credit facility due October 2026 | $ | 5.0 |  |  | $ | — |  |  | $ | 8.3 |  |  | $ | — |
Interest expense, term loan due June 2024 | — |  |  | 0.5 |  |  | — |  |  | 1.1 |
Interest expense, senior secured revolving credit facility due June 2024 | — |  |  | 1.3 |  |  | — |  |  | 2.0 |
Total interest expense | $ | 5.0 |  |  | $ | 1.8 |  |  | $ | 8.3 |  |  | $ | 3.1 |
Financing costs amortization, senior secured revolving credit facility due October 2026 | $ | 0.4 |  |  | $ | — |  |  | $ | 0.9 |  |  | $ | — |
Financing costs amortization, senior secured revolving credit facility and term loan due June 2024 | — |  |  | 0.8 |  |  | — |  |  | 1.8 |
Total financing costs amortization | $ | 0.4 |  |  | $ | 0.8 |  |  | $ | 0.9 |  |  | $ | 1.8 |
Schedule of interest accretion | The following table summarizes 1.0% contractual interest coupon and financing costs amortization associated with the 2024 Notes:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
2024 Notes, 1.0% contractual interest coupon | $ | 0.7 |  |  | $ | 0.7 |  |  | $ | 1.3 |  |  | $ | 1.3 |
2024 Notes, financing costs amortization (1) | $ | 0.3 |  |  | $ | 0.3 |  |  | $ | 0.5 |  |  | $ | 0.5 |
_______________ (1)We amortize debt issuance costs of $6.8 over the term of the 2024 Notes using the effective interest method.
Schedule of fair value of asset and liabilities derivatives | The following table represents the fair value of asset and liability derivatives and their respective locations on our condensed consolidated balance sheet as of June 30, 2022:
|  | Asset Derivatives |  | Liability Derivatives |  |
Derivatives designated as net investment hedge |  | Balance Sheet Location |  | Fair Value |  | Balance Sheet Location |  | Fair Value |  |
Cross-currency swap contracts |  | Other assets |  | $ | 1.4 |  |  | Other long-term liabilities |  | $ | — |  |  |
Schedule of accumulated other comprehensive income (loss) | The following table represents the net effect derivative instruments designated in hedging relationships had on accumulated other comprehensive loss on the condensed consolidated statements of income and comprehensive income:
|  | Unrealized gain recognized in accumulated other comprehensive loss on derivatives, net of taxes
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
Derivatives designated as net investment hedge |  | 2022 |  | 2022
Cross-currency swap contracts (1) |  | $ | 3.8 |  |  | $ | 3.8 |
_______________ (1)Our designated derivative instruments are highly effective. As such, there were no gains or losses recognized immediately in income related to hedge ineffectiveness during the three and six months ended June 30, 2022.
Schedule of interest rate derivatives | The following table represents interest income, included within interest expense, net on the condensed consolidated statements of income related to amounts excluded from the assessment of hedge effectiveness for derivative instruments designated as net investment hedges:
|  | Amount of gain recognized in income on derivative (amount excluded from effectiveness testing)
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
Derivatives designated as net investment hedge |  | 2022 |  | 2022
Cross-currency swap contracts (1) |  | $ | 0.5 |  |  | $ | 0.5 |
_______________ (1)Represents amount excluded from effectiveness testing. Our cross-currency swaps are designated with terms based on the spot rate of the euro. Future changes in the components related to the spot change on the notional will be recorded in other comprehensive income and remain there until the hedged subsidiaries are substantially liquidated. All coupon payments are classified in interest expense, net in the condensed consolidated statements of income, and the initial value of excluded components currently recorded in accumulated other comprehensive loss as a foreign currency translation adjustment are amortized to interest expense, net over the remaining term of the swap.

X
- Definition [Table Text Block] for Schedule of Interest Accretion, Loss on Extinguishment, and Amortization of Financing Costs [Table] + References No definition available. + Details
Name: | gtls_ScheduleOfInterestAccretionLossOnExtinguishmentAndAmortizationOfFinancingCostsTableTextBlock
Namespace Prefix: | gtls_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule Of Interest Expense And Financing Cost Amortization [Table Text Block] + References No definition available. + Details
Name: | gtls_ScheduleOfInterestExpenseAndFinancingCostAmortizationTableTextBlock
Namespace Prefix: | gtls_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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 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
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the effective portion of gains and losses on derivative instruments (and nonderivative instruments) designated and qualifying in net investment hedges recorded in accumulated other comprehensive income (loss) during the term of the hedging relationship and reclassified into earnings during the current period. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4CCC -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL109998896-113959 + Details
Name: | us-gaap_ScheduleOfNetInvestmentHedgesInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration