XML 53 R41.htm IDEA: XBRL DOCUMENT
v3.22.1

Debt - Additional Information (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended |  |  |
--- | --- | --- | --- | --- | --- | ---
Jun. 30, 2019 | Mar. 31, 2022 | Dec. 31, 2017 | Dec. 31, 2015 | Apr. 01, 2022 | Dec. 31, 2021 | Jan. 28, 2021
Debt Instrument [Line Items] |  |  |  |  |  |  |
Borrowings |  | $ 857,500,000 |  |  |  | $ 822,400,000 |
Senior unsecured credit facility- revolving loan due 2021 |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Maximum borrowing capacity | $ 700,000,000 |  |  |  |  |  |
Senior unsecured credit facility- revolving loan due 2024 |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Maximum borrowing capacity | $ 1,000,000,000 |  |  |  |  |  |
Debt instrument expiration period | 2024-06 |  |  |  |  |  |
Debt instrument, interest rate terms |  | The interest rate ranges from LIBOR + 0.875% to a maximum of LIBOR + 1.50%, depending upon the better of the Company’s leverage ratio or the credit rating. |  |  |  |  |
Borrowings |  | $ 160,000,000 |  |  |  |  |
Maximum amount available under credit facility agreement to issue letters of credit |  | 50,000,000 |  |  |  |  |
Letters of credit issued under credit facility |  | 0 |  |  |  |  |
Undrawn availability under credit facility |  | $ 590,000,000 |  |  |  |  |
Weighted average interest rate |  | 4.50% |  |  |  |  |
Senior unsecured credit facility- revolving loan due 2024 | Minimum |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Credit facility interest rate basis | LIBOR + 0.875% |  |  |  |  |  |
Spread on variable interest rate basis | 0.875% |  |  |  |  |  |
Senior unsecured credit facility- revolving loan due 2024 | Maximum |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Credit facility interest rate basis | LIBOR + 1.50% |  |  |  |  |  |
Spread on variable interest rate basis | 1.50% |  |  |  |  |  |
Amended senior unsecured credit facility- revolving loan due 2024 |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Maximum borrowing capacity |  |  |  |  | $ 750,000,000 |  | $ 750,000,000
Debt instrument, covenant terms |  | On January 28, 2021, we further amended the Facility agreement (the “Second Amendment”) to provide that, from January 28, 2021 through and including March 31, 2022, we would not be subject to a maximum leverage ratio covenant but instead be required to maintain Liquidity (as defined in the Facility agreement) of at least $250 million. Additionally, during such period, the Company was subject to limitations on share repurchases, cash dividends, and its ability to incur secured debt, in each case subject to certain exceptions; the applicable margin and commitment fees would be increased; the incremental facility would not be available; and if the Company’s public debt rating was downgraded to (i) BB or lower by Standard & Poor’s and (ii) Ba2 or lower by Moody’s, we would be required to grant liens on certain of our assets, which liens would be released upon the Company’s public debt rating being upgraded to BB+ or higher by Standard & Poor’s or Ba1 or higher by Moody’s. The Company’s public debt rating as of March 31, 2022 is BB+/Baa3. |  |  |  |  |
Minimum liquidity amount required to maintain under credit agreement liquidity covenant |  |  |  |  |  |  | 250,000,000
Amended senior unsecured credit facility- revolving loan due 2024 | Maximum |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Maximum borrowing capacity |  |  |  |  |  |  | $ 1,000,000,000
3.95% senior unsecured notes due 2027 |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Face value |  |  | $ 400,000,000 |  |  |  |
Debt instrument, interest rate |  | 3.95% | 3.95% |  |  |  |
Debt instrument, maturity year |  |  | 2027 |  |  |  |
Increase in senior notes interest rate |  |  | 0.25% |  |  |  |
Effective interest rate |  | 4.12% |  |  |  |  |
3.95% senior unsecured notes due 2027 | Treasury Lock | Interest Lock Agreement |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Percentage of effective interest rate benefit |  | 0.25% |  |  |  |  |
3.95% senior unsecured notes due 2027 | Level 2 |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Fair value of senior unsecured notes |  | $ 402,200,000 |  |  |  |  |
3.95% senior unsecured notes due 2027 | Maximum |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Debt instrument, interest rate |  |  | 5.95% |  |  |  |
4.7% senior unsecured notes due 2025 |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Face value |  |  |  | $ 300,000,000 |  |  |
Debt instrument, interest rate |  |  |  | 4.70% |  |  |
Debt instrument, maturity year |  |  |  | 2025 |  |  |
Increase in senior notes interest rate |  |  |  | 0.25% |  |  |
Effective interest rate |  | 5.07% |  |  |  |  |
4.7% senior unsecured notes due 2025 | Level 2 |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Fair value of senior unsecured notes |  | $ 304,700,000 |  |  |  |  |
4.7% senior unsecured notes due 2025 | Maximum |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Debt instrument, interest rate |  |  |  | 6.70% |  |  |

X
- Definition Debt instrument maturity year. + References No definition available. + Details
Name: | hxl_DebtInstrumentMaturityYear
Namespace Prefix: | hxl_
Data Type: | xbrli:gYearItemType
Balance Type: | na
Period Type: | duration

X
- Definition Letters of credit issued amount. + References No definition available. + Details
Name: | hxl_LettersOfCreditIssuedAmount
Namespace Prefix: | hxl_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Maximum amount available under credit facility to issue letters of credit. + References No definition available. + Details
Name: | hxl_MaximumAmountAvailableUnderCreditFacilityToIssueLettersOfCredit
Namespace Prefix: | hxl_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Minimum liquidity amount required to maintain under credit agreement liquidity covenant. + References No definition available. + Details
Name: | hxl_MinimumLiquidityAmountRequiredToMaintainUnderCreditAgreementLiquidityCovenant
Namespace Prefix: | hxl_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Percentage of reduction in interest rate on senior notes. + References No definition available. + Details
Name: | hxl_PercentageOfReductionInInterestRateOnSeniorNotes
Namespace Prefix: | hxl_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition The expiration, mandatory redemption, or due date, month and year (YYYY-MM), of the financial instrument issued in exchange for the original debt being converted in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123431023&loc=d3e4304-108586 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=123431023&loc=d3e4332-108586 + Details
Name: | us-gaap_DebtConversionConvertedInstrumentExpirationOrDueDateMonthAndYear
Namespace Prefix: | us-gaap_
Data Type: | xbrli:gYearMonthItemType
Balance Type: | na
Period Type: | duration

X
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Description of minimum financial levels (for example, tangible net worth and working capital) and achievement of certain financial ratios (for example, working capital ratio and debt service coverage ratio), and adherence to certain clauses which generally require or restrict certain actions (for example, entering into a debt arrangement with equal or greater seniority, and selling or discontinuing a certain business segment or material subsidiary) to be in compliance with the covenant clauses of the debt agreement. May also include a discussion of the adverse consequences that would result if the entity violates or fails to satisfy the covenants. + 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=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823 + Details
Name: | us-gaap_DebtInstrumentCovenantDescription
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Face (par) amount of debt instrument at time of issuance. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 2: 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=124435984&loc=d3e28551-108399 Reference 3: 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 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=124429444&loc=SL124452920-239629 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69C -URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495737-112612 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69B -URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612 + Details
Name: | us-gaap_DebtInstrumentFaceAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 6 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123466204&loc=SL6036836-161870 Reference 2: 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=124435984&loc=d3e28551-108399 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=124429444&loc=SL124452920-239629 Reference 4: 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(a)(1)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateEffectivePercentage
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Incremental percentage increase (decrease) in the stated rate on a debt instrument. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentInterestRateIncreaseDecrease
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Contractual interest rate for funds borrowed, under the debt agreement. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 2: 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(a)(1)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateStatedPercentage
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Description of the interest rate as being fixed or variable, and, if variable, identification of the index or rate on which the interest rate is based and the number of points or percentage added to that index or rate to set the rate, and other pertinent information, such as frequency of rate resets. + 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(a)(1)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateTerms
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

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_DebtInstrumentLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Description of interest rate for borrowing under credit facility. Includes, but is not limited to, terms and method for determining interest rate. + 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=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityInterestRateDescription
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The effective interest rate during the reporting period. + 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=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityInterestRateDuringPeriod
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. + 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=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding). + 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=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. + References No definition available. + Details
Name: | us-gaap_LongTermDebtFairValue
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount after unamortized (discount) premium and debt issuance costs of long-term debt classified as noncurrent and excluding amounts to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. + 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=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_LongTermDebtNoncurrent
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Details
Name: | us-gaap_DebtInstrumentAxis=hxl_SeniorUnsecuredRevolvingCreditFacilityMaturesInJuneTwoThousandTwentyOneMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=hxl_SeniorUnsecuredRevolvingCreditFacilityMaturesInJuneTwoThousandTwentyFourMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MinimumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=hxl_AmendedSeniorUnsecuredRevolvingCreditFacilityMaturesInJuneTwoThousandTwentyFourMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=hxl_SeniorUnsecuredNotesThreePointNineFivePercentDueTwoThousandTwentySevenMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DerivativeInstrumentRiskAxis=us-gaap_TreasuryLockMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=us-gaap_InterestRateLockCommitmentsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=hxl_SeniorUnsecuredNotesFourPointSevenPercentDueTwoThousandTwentyFiveMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |