XML 51 R36.htm IDEA: XBRL DOCUMENT
v3.19.1

DEBT AND CREDIT FACILITIES (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2019
Line of Credit Facility [Line Items] |
Schedule of Line of Credit Facilities [Table Text Block] | The following represents a summary of our borrowing capacity under the ABL Facility:
| (In Millions)
| March 31, 2019 |  | December 31, 2018
Available borrowing base on ABL Facility 1 | $ | 305.4 |  |  | $ | 323.7 |
Letter of credit obligations and other commitments 2 | (65.4 | ) |  | (55.0 | )
Borrowing capacity available 3 | $ | 240.0 |  |  | $ | 268.7 |
1 The ABL Facility has a maximum borrowing base of $450 million, determined by applying customary advance rates to eligible accounts receivable, inventory and certain mobile equipment.
2 We issued standby letters of credit with certain financial institutions in order to support business obligations including, but not limited to, workers compensation, environmental obligations and certain Metallics' contracts.
3 As of March 31, 2019 and December 31, 2018, we had no loans drawn under the ABL Facility.
Schedule Of Long-Term Debt | The following represents a summary of our long-term debt:
(In Millions)
March 31, 2019
Debt Instrument |  | Annual Effective Interest Rate |  | Total Principal Amount |  | Debt Issuance Costs |  | Unamortized Discounts |  | Total Debt
Secured Notes: |  |  |  |  |  |  |  |  |  |
$400 Million 4.875% 2024 Senior Notes |  | 5.00% |  | $ | 400.0 |  |  | $ | (5.5 | ) |  | $ | (2.1 | ) |  | $ | 392.4 |
Unsecured Notes: |  |  |  |  |  |  |  |  |  |
$700 Million 4.875% 2021 Senior Notes |  | 4.89% |  | 114.0 |  |  | (0.2 | ) |  | — |  |  | 113.8 |
$316.25 Million 1.50% 2025 Convertible Senior Notes |  | 6.26% |  | 316.3 |  |  | (5.3 | ) |  | (73.0 | ) |  | 238.0 |
$1.075 Billion 5.75% 2025 Senior Notes |  | 6.01% |  | 1,073.3 |  |  | (9.5 | ) |  | (14.1 | ) |  | 1,049.7 |
$800 Million 6.25% 2040 Senior Notes |  | 6.34% |  | 298.4 |  |  | (2.2 | ) |  | (3.3 | ) |  | 292.9 |
ABL Facility |  | N/A |  | 450.0 |  |  | N/A |  |  | N/A |  |  | — |
Fair Value Adjustment to Interest Rate Hedge |  |  |  |  |  |  |  |  |  | 0.2 |
Long-term debt |  |  |  |  |  |  |  |  |  | $ | 2,087.0 |
(In Millions)
December 31, 2018
Debt Instrument |  | Annual Effective Interest Rate |  | Total Principal Amount |  | Debt Issuance Costs |  | Unamortized Discounts |  | Total Debt
Secured Notes: |  |  |  |  |  |  |  |  |  |
$400 Million 4.875% 2024 Senior Notes |  | 5.00% |  | $ | 400.0 |  |  | $ | (5.7 | ) |  | $ | (2.2 | ) |  | $ | 392.1 |
Unsecured Notes: |  |  |  |  |  |  |  |  |  |
$700 Million 4.875% 2021 Senior Notes |  | 4.89% |  | 124.0 |  |  | (0.2 | ) |  | — |  |  | 123.8 |
$316.25 Million 1.50% 2025 Convertible Senior Notes |  | 6.26% |  | 316.3 |  |  | (5.5 | ) |  | (75.6 | ) |  | 235.2 |
$1.075 Billion 5.75% 2025 Senior Notes |  | 6.01% |  | 1,073.3 |  |  | (9.9 | ) |  | (14.6 | ) |  | 1,048.8 |
$800 Million 6.25% 2040 Senior Notes |  | 6.34% |  | 298.4 |  |  | (2.3 | ) |  | (3.3 | ) |  | 292.8 |
ABL Facility |  | N/A |  | 450.0 |  |  | N/A |  |  | N/A |  |  | — |
Fair Value Adjustment to Interest Rate Hedge |  |  |  |  |  |  |  |  |  | 0.2 |
Long-term debt |  |  |  |  |  |  |  |  |  | $ | 2,092.9 |
Extinguishment of Debt, Amount | The following is a summary of the debt extinguished with cash and the respective loss on extinguishment:
| (In Millions)
| Three Months Ended March 31, 2019
Debt Instrument | Debt Extinguished |  | Loss on Extinguishment
$700 Million 4.875% 2021 Senior Notes | $ | 10.0 |  |  | $ | 0.3 |
| $ | 10.0 |  |  | $ | 0.3 |
Schedule of Maturities of Long-term Debt | Debt Maturities The following represents a summary of our maturities of debt instruments based on the principal amounts outstanding at March 31, 2019:
|  | (In Millions)
|  | Maturities of Debt
2019 |  | $ | — |
2020 |  | — |
2021 |  | 114.0 |
2022 |  | — |
2023 |  | — |
2024 |  | 400.0 |
2025 and thereafter |  | 1,688.0 |
Total maturities of debt |  | $ | 2,202.0 |

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_LineOfCreditFacilityLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of debt extinguished which may include, amount of gain (loss), the income tax effect and the per share amount of the aggregate gain (loss), net of the related income tax. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7516071&loc=d3e13374-112631 + Details
Name: | us-gaap_ScheduleOfExtinguishmentOfDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration