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Debt | 6 Months Ended
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Jun. 30, 2020
Debt Disclosure [Abstract] |
Debt | Debt Debt, including finance lease obligations, consisted of:
| June 30, |  | December 31,
(Amounts in thousands, except percentages) | 2020 |  | 2019
1.25% EUR Senior Notes due March 17, 2022, net of unamortized discount and debt issuance costs of $2,065 and $2,653 | $ | 559,485 |  |  | $ | 557,847 |
3.50% USD Senior Notes due September 15, 2022, net of unamortized discount and debt issuance costs of $1,583 a nd $1,924 | 498,417 |  |  | 498,076 |
4.00% USD Senior Notes due November 15, 2023, net of unamortized discount and debt issuance costs of $1,563 and $1,777 | 298,437 |  |  | 298,223 |
Finance lease obligations and other borrowings | 20,197 |  |  | 23,103 |
Debt and finance lease obligations | 1,376,536 |  |  | 1,377,249 |
Less amounts due within one year | 9,058 |  |  | 11,272 |
Total debt due after one year | $ | 1,367,478 |  |  | $ | 1,365,977 |
Senior Credit Facility On July 16, 2019, we entered into a credit agreement (“Credit Agreement”) with Bank of America, N.A., as administrative agent, and the other lenders party thereto. The Credit Agreement provides for an $800.0 million unsecured senior credit facility with a maturity date of July 16, 2024 (“Senior Credit Facility”). The Senior Credit Facility includes a $750.0 million sublimit for the issuance of letters of credit and a $30.0 million sublimit for swing line loans. We have the right to increase the amount of the Senior Credit Facility by an aggregate amount not to exceed $400.0 million, subject to certain conditions, including each Lender's approval providing any increase. The interest rates per annum applicable to the Senior Credit Facility, other than with respect to swing line loans, are LIBOR plus between 1.000% to 1.750%, depending on our debt rating by either Moody’s Investors Service, Inc. or Standard & Poor’s Financial Services LLC ("S&P") Ratings, or, at our option, the Base Rate (as defined in the Credit Agreement) plus between 0.000% to 0.750% depending on our debt rating by either Moo dy’s Investors Service, Inc. or S&P Ratings. At June 30, 2020, the interest rate on the Senior Credit Facility was LIBOR plus 1.375% in the case of LIBOR loans and the Base Rate plus 0.375% in the case of Base Rate loans. In addition, a commitment fee is payable quarterly in arrears on the daily unused portions of the Senior Credit Facility. The commitment fee will be betw een 0.090% and 0.300% of unused amounts under the Senior Credit Facility depending on our debt rating by either Moody’s Investors Service, Inc. or S&P’s Ratings. The commitment f ee was 0.20% (per annum) during the period ended June 30, 2020. A s of June 30, 2020 and December 31, 2019, we had no revolving loans outstanding. We had outstanding letters of credit of $62.4 million and $88.5 million at June 30, 2020 and December 31, 2019, respectively. A s of June 30, 2020, due to a financial covenant in the Senior Credit Facility, the amount available for borrowings was effectively limited to $722.2 million. The amount available for borrowings under our Senior Credit Facility was $711.5 million at December 31, 2019. Our compliance with applicable financial covenants under the Senior Notes and Senior Credit Facility are tested quarterly. We were in compliance with all applicable covenants as of June 30, 2020.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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