Long-term debt consisted of the following (in millions):


	December 31,
	2020		2019
4.00% Senior Notes due August 15, 2028	$	550.0	$	—
5.00% Senior Notes aggregate principal redeemed September 2, 2020	—		550.0
5.25% Senior Notes aggregate principal redeemed April 2, 2020	—		300.0
Acquisition Line	47.8		72.5
Other debt:
Real estate related	619.8		453.3
Finance leases	124.8		83.0
Other	20.0		42.8
Total other debt	764.6		579.1
Total debt	1,362.4		1,501.6
Less: unamortized discount	—		5.6
Less: unamortized debt issuance costs	11.0		4.8
Less: current maturities	56.7		59.1
Total long-term debt	$	1,294.7	$	1,432.1

The aggregate annual maturities of debt for the next five years, excluding debt issuance costs, are as follows (in millions):


	Total
Years Ended December 31,
2021	$	57.3
2022	70.1
2023	94.9
2024	144.9
2025	93.1
Thereafter	902.2
Total	$	1,362.4

The Company has the following Senior Notes outstanding as of December 31, 2020:

Description

Principal Amount
(in millions)

Maturity Date

Effective Interest Rate (1)

Interest Payment Dates

4.00% Senior Notes

$550.0

August 15, 2028

4.21%

February 15th, August 15th

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.


Redemption Period						Redemption Price
August 15, 2023						102.000%
August 15, 2024						101.333%
August 15, 2025						100.667%
August 15, 2026 and thereafter						100.000%

The 4.00% Senior Notes are unsecured obligations and rank equal in right of payment to all of the Company’s existing and future senior unsecured debt and senior in right of payment to all of the Company’s future subordinated debt. The 4.00% Senior Notes are guaranteed by substantially all of the Company’s U.S. subsidiaries. The U.S. subsidiary guarantees rank equally in the right of payment to all of the Company’s U.S. subsidiary guarantor’s existing and future senior unsecured debt.

The Company may be required to purchase the 4.00% Senior Notes if it sells certain assets or triggers the change in control provisions defined in the senior notes indenture. The 4.00% Senior Notes contain customary restrictions on the Company, including the ability to pay dividends, incur additional indebtedness, create liens, sell or otherwise dispose of assets and repurchase shares of outstanding common stock. Such restrictions are similar to those contained in the Company’s 5.00% and 5.25% Senior Notes that were redeemed in the current year, as described further below.

On September 2, 2020, the Company fully redeemed $550.0 million in aggregate principal amount of its outstanding 5.00% Senior Notes due June 2022, at par value. The Company recognized a loss on extinguishment of $3.3 million which included write offs of unamortized discount in the amount of $2.6 million and unamortized debt issuance costs in the amount of $0.7 million. Additionally, the Company paid accrued interest of $6.9 million up to the date of redemption.

On April 2, 2020, the Company fully redeemed $300.0 million in aggregate principal amount of its outstanding 5.25% Senior Notes due June 2023, at a premium of 102.625%. The total redemption price, consisting of the principal amount of the notes redeemed plus associated premium, amounted to $307.9 million. The Company recognized a loss on extinguishment of $10.4 million which included write offs of unamortized discount in the amount of $1.9 million and unamortized debt issuance costs in the amount of $0.6 million. Additionally, the Company paid accrued interest of $4.6 million up to the date of redemption.

The proceeds of the Acquisition Line are used for working capital, general corporate and acquisition purposes. As of December 31, 2020, borrowings under the Acquisition Line, a component of the Revolving Credit Facility (as described in Note 12. Floorplan Notes Payable), totaled $47.8 million. The average interest rate on this facility was 1.29% as of December 31, 2020.

The Company has mortgage loans in the U.S., U.K. and Brazil that are paid in installments. As of December 31, 2020, borrowings outstanding under these facilities totaled $619.8 million, gross of debt issuance costs, comprised of $514.9 million in the U.S., $92.9 million in the U.K. and $12.0 million in Brazil.

The Company’s mortgage loans are secured by real property owned by the Company. The carrying values of the related collateralized real estate as of December 31, 2020 and 2019 was $893.6 million and $436.2 million, respectively. The Brazilian mortgages are additionally secured by a guarantee from the Company.