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Debt
 3 Months Ended
Mar. 31, 2023
Debt Disclosure [Abstract]  
Debt
8.    Debt
The following table presents information about our debt:
(dollars in millions)
March 31, 2023
December 31, 2022
Interest termsRateAmount
Receivables facility
SOFR1 plus 0.80%
5.70%
$287.3 $327.2 
Senior secured credit facilities:
Euro term loans B-4
EURIBOR plus 2.50%
4.93%
646.2 636.7 
Euro term loans B-5
EURIBOR plus 2.00%
4.43%
347.1 342.0 
U.S. dollar term loans B-5
LIBOR plus 2.25%
6.88%
1,263.1 1,488.3 
2.625% secured notesfixed rate
2.625%
706.6 694.5 
3.875% unsecured notesfixed rate
3.875%
800.0 800.0 
3.875% unsecured notesfixed rate
3.875%
434.8 427.3 
4.625% unsecured notesfixed rate
4.625%
1,550.0 1,550.0 
Finance lease liabilities69.0 68.9 
Other13.6 14.2 
Total debt, gross6,117.7 6,349.1 
Less: unamortized deferred financing costs(56.5)(61.6)
Total debt$6,061.2 $6,287.5 
Classification on balance sheets:
Current portion of debt$325.2 $364.2 
Debt, net of current portion5,736.0 5,923.3 
━━━━━━━━━
1.SOFR includes credit spread adjustment.
Credit facilities
The following table presents availability under our credit facilities:
(in millions)
March 31, 2023
Receivables facilityRevolving credit facilityTotal
Capacity$352.8 $515.0 $867.8 
Undrawn letters of credit outstanding(13.7)— (13.7)
Outstanding borrowings(287.3)— (287.3)
Unused availability$51.8 $515.0 $566.8 

Capacity under the receivables facility is calculated as the lower of eligible borrowing base and facility limit of $400.0 million. Eligible borrowing base is determined as total available accounts receivable less ineligible accounts receivable and other adjustments. At March 31, 2023, total available accounts receivable under the receivables facility were $615.6 million.
Senior secured credit facilities
During the quarter ended March 31, 2023, we made prepayments of $220.0 million on our U.S. dollar term loan B-5 that matures on November 8, 2027. In connection with this prepayment, we expensed $2.3 million of previously unamortized deferred financing costs related to this term loan as a loss on extinguishment of debt.
Debt covenants
Our debt agreements include representations and covenants that we consider usual and customary, and our receivables facility and senior secured credit facilities include a financial covenant that becomes applicable for periods in which we have drawn more than 35% of our revolving credit facility under the senior secured credit facilities. In this circumstance, we are not permitted to have combined borrowings on our senior secured credit facilities and secured notes in excess of a pro forma net leverage ratio, as defined in our credit agreements. As we had not drawn more than 35% of our revolving credit facility in this period, this covenant was not applicable at March 31, 2023.