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LONG-TERM OBLIGATIONS (Tables) | 12 Months Ended
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Dec. 31, 2022
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | Long-term debt is summarized as follows (in millions):
| December 31,
| 2022 |  | 2021
5% Senior Notes due May 15, 2029, net of unamortized debt issuance costs of $6.0 and $6.9 million at December 31, 2022 and 2021, respectively | $ | 594.0 |  |  | $ | 593.1 |
Credit Agreement – term debt due January 31, 2024 (“Original Term Loan”, as defined below), net of unamortized debt issuance costs of $0.4 at December 31, 2021 | — |  |  | 77.4 |
Credit Agreement - revolving line of credit expires on April 1, 2026 | 177.0 |  |  | — |
Finance lease obligations | 4.2 |  |  | 3.5 |
Other | 0.3 |  |  | 0.1 |
Total debt | 775.5 |  |  | 674.1 |
Less: Current portion of long-term debt | (1.9) |  |  | (5.6) |
Long-term debt, less current portion | $ | 773.6 |  |  | $ | 668.5 |
Schedule of Debt | Letters of credit outstanding (in millions):
| December 31, 2022 |  | December 31, 2021
$400 Million Facility | $ | — |  |  |  |  |  |  | $ | — |  |  |  |  |
$300 Million Facility | 70.4 |  |  |  |  |  |  | 62.8 |  |  |  |  |
Bilateral Arrangements | 48.0 |  |  |  |  |  |  | 45.0 |  |  |  |  |
Total | $ | 118.4 |  |  |  |  |  |  | $ | 107.8 |  |  |  |  |
Schedule of Maturities of Long-term Debt | Amounts shown are exclusive of minimum lease payments for capital lease obligations (in millions):
2023 | $ | 0.1 |
2024 | 0.1 |
2025 | 0.1 |
2026 | 177.0 |
2027 | — |
Thereafter | 600.0 |
Total Debt | 777.3 |
Less: Unamortized debt issuance costs | (6.0) |
Net debt | $ | 771.3 |
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments | The Company estimates the fair values of its debt set forth below as of December 31, 2022 and 2021, as follows (in millions, except for quotes):
2022 | Book Value |  | Quote |  | Fair Value
5% Notes | $ | 600.0 |  |  | 0.89250 |  |  | $ | 535.5 |
2021 | Book Value |  | Quote |  | Fair Value
5% Notes | $ | 600.0 |  |  | 1.03000 |  |  | $ | 618.0 |
Original Term Loan (net of discount) | 77.8 |  |  | 0.99875 |  |  | 77.7 |

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