XML 29 R14.htm IDEA: XBRL DOCUMENT
v3.19.1

DEBT AND CREDIT FACILITIES | 3 Months Ended
--- | ---
Mar. 31, 2019
Debt Disclosure [Abstract] |
DEBT AND CREDIT FACILITIES | NOTE 7 - DEBT AND CREDIT FACILITIES 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 |
Debt Extinguishment 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 |
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 |
ABL Facility 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.

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 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
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration