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Credit Facilities and Long-term Debt (Tables) | 12 Months Ended
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Dec. 31, 2020
Debt Disclosure [Abstract] |
Summary of Outstanding Balances on Credit Facilities and Long-term Debt | Below is a summary of our outstanding balances on credit facilities and long-term debt (in millions):
|  | December 31,
(Dollars in millions) |  | 2020 |  | 2019
Floor plan notes payable: non-trade |  | $ | 1,563.0 |  |  | $ | 1,642.4 |
Floor plan notes payable |  | 234.2 |  |  | 425.2 |
Total floor plan debt |  | $ | 1,797.2 |  |  | $ | 2,067.6 |
Used and service loaner vehicle inventory financing commitments |  | $ | — |  |  | $ | 149.0 |
Revolving lines of credit |  | 39.0 |  |  | — |
Real estate mortgages |  | 611.5 |  |  | 597.7 |
Finance lease obligations |  | 246.4 |  |  | 30.5 |
5.250% Senior notes due 2025 |  | 300.0 |  |  | 300.0 |
4.625% Senior notes due 2027 |  | 400.0 |  |  | 400.0 |
4.375% Senior notes due 2031 |  | 550.0 |  |  | — |
Other debt |  | 2.4 |  |  | 3.1 |
Total long-term debt outstanding |  | 2,149.3 |  |  | 1,480.3 |
Less: unamortized debt issuance costs |  | (18.6) |  |  | (10.4) |
Less: current maturities (net of current debt issuance costs) |  | (66.0) |  |  | (39.3) |
Long-term debt |  | $ | 2,064.7 |  |  | $ | 1,430.6 |
Schedule of Debt Covenant Terms | Under our credit facility, we are required to maintain the ratios detailed in the following table:
Debt Covenant Ratio |  | Requirement |  | As of December 31, 2020
Current ratio |  | Not less than 1.10 to 1 |  | 1.48 to 1
Fixed charge coverage ratio |  | Not less than 1.20 to 1 |  | 3.91 to 1
Leverage ratio |  | Not more than 5.75 to 1 |  | 2.74 to 1
Schedule of Maturities of Long-term Debt | The schedule of future principal payments associated with real estate mortgages, finance lease liabilities, our senior notes and other debt as of December 31, 2020 was as follows:
Year Ending December 31, |  | (Dollars in millions)
2021 |  | $ | 69.4 |
2022 |  | 78.9 |
2023 |  | 148.0 |
2024 |  | 87.5 |
2025 |  | 448.3 |
Thereafter |  | 1,278.2 |
Total principal payments |  | $ | 2,110.3 |

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