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Debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Composition of Long-Term Debt

The Company has the following Senior Notes issued as of December 31, 2019 (amount in millions):

Description		Principal Amount		Maturity Date		Interest Payment Date
5.00% Senior Notes		$550.0		June 1, 2022		June 1, December 1
5.25% Senior Notes		$300.0		December 15, 2023		June 15, December 15

Long-term debt, net of current maturities consisted of the following (in millions):

		December 31,
		2019				2018
5.00% Senior Notes aggregate principal (1)		$	550.0			$	550.0
5.25% Senior Notes aggregate principal (1)		300.0				300.0
Acquisition Line		72.5				31.8
Real estate related		453.3				420.8
Finance leases (2)		83.0				48.6
Other		42.8				33.6
Total debt		1,501.7				1,384.8
Less: unamortized discount on 5.00% notes & 5.25% notes		(5.6		)		(7.4		)
Less: unamortized debt issuance costs		(4.8		)		(2.9		)
Less: current maturities of long-term debt and short-term financing		(59.1		)		(93.0		)
Long-term debt, net of current maturities		$	1,432.1			$	1,281.5

⁽¹⁾ See Note 6 “Financial Instruments and Fair Value Measurements” for further discussion of the fair value.

⁽²⁾ Balances as of December 31, 2018 were unchanged under the optional transition method applied as part of the implementation of Topic 842. See Note 1 “Business and Summary of Significant Accounting Policies” and Note 10 “Leases” for further information.

Aggregate Annual Maturities of Long-Term Debt

The aggregate annual maturities of long-term debt for the next five years, excluding unamortized discount and debt issuance costs, are as follows (in millions):

		Total
Years Ended December 31,
2020		$	58.2
2021		75.1
2022		598.7
2023		374.5
2024		152.8
Thereafter		242.4
Total		$	1,501.7

Debt Redemption

The Company, at its option, may redeem some or all of the Senior Notes at the redemption prices (expressed as percentages of principal amount of the notes) set forth below, plus accrued and unpaid interest.

5.00% Senior Notes

Redemption Period		Redemption Price
June 1, 2019 - May 31, 2020		101.250%
June 1, 2020 and thereafter		100.000%

5.25% Senior Notes

Redemption Period		Redemption Price
December 15, 2019 - December 14, 2020		102.625%
December 15, 2020 - December 14, 2021		101.313%
December 15, 2021 and thereafter		100.000%

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