XML 30 R21.htm IDEA: XBRL DOCUMENT

Subsequent Event	6 Months Ended
Subsequent Event	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event On July 21, 2023, we entered into a waiver agreement under the Amended Credit Agreement that waived the requirement to prepay the Facilities with remaining excess net cash proceeds related to the sale of GGB and GPT that had not been reinvested in operating assets within 365 days from the date of the sale. In conjunction with this waiver, on July 26, 2023, EnPro voluntarily prepaid all outstanding borrowings and accrued and unpaid interest under the Term Loan A-1 Facility (a remaining principal balance of $133.1 million and accrued interest of $0.6 million). The indenture governing the Senior Notes requires us to offer to repurchase the Senior Notes at a price equal to 100.0% of the principal amount thereof plus accrued and unpaid interest, in the event that the net cash proceeds of certain asset sales are not reinvested in acquisitions, capital expenditures, or used to repay or otherwise reduce specified indebtedness within a specified period, to the extent the remaining net proceeds exceed a specified amount. After taking into account the repayment of borrowings under the Term Loan A-1 Facility noted above and forecasted capital expenditures, approximately $47 million of the excess net cash proceeds related to the sales of GGB and GPT will remain uninvested at January 28, 2024, the date by which excess cash proceeds from such sales must be reinvested in acquisitions or capital expenditures or applied to reduce specified indebtedness to avoid the indenture requirement to make such an offer to repurchase Senior Notes. If we do not effect sufficient reinvestments by that date, we intend to use these excess proceeds to further reduce specified indebtedness to satisfy the requirement under the Senior Notes indenture.