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Long-Term Debt (Notes) | 9 Months Ended
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Sep. 30, 2019
Debt Disclosure [Abstract] |
Long-Term Debt | 6. Long-Term Debt Long-term debt consisted of the following (in millions):
| September 30, 2019 |  | December 31, 2018
$200 million revolving credit facility, due March 31, 2023 | $ | — |  |  | $ | — |
Term B loan facility, due June 6, 2022 | 218.0 |  |  | 337.0 |
Term B loan facility, due April 2, 2025 | 787.0 |  |  | 787.0 |
| 1,005.0 |  |  | 1,124.0 |
Unamortized deferred loan costs | (19.8 | ) |  | (23.6 | )
| $ | 985.2 |  |  | $ | 1,100.4 |
Borrowings under the term B loans bear interest at LIBOR, plus 2.00 percent. Borrowings under the revolving credit facility bear interest at LIBOR plus 1.25 to 2.25 percent, or the bank’s base rate plus 0.25 to 1.25 percent, depending on leverage levels. A commitment fee of 0.20 percent to 0.35 percent is payable on the undrawn portion of the revolving credit facility. At September 30, 2019, the weighted average interest rate was 4.04 percent. For the term B loan that matures on June 6, 2022, there are no required minimum payments until its maturity date. For the term B loan that matures on April 2, 2025, the Company is required to make minimum quarterly payments of $2.1 million; however, as a result of principal payments made through September 30, 2019, the first required minimum quarterly payment of $2.1 million is not due until September 30, 2022. The Company is also required to make mandatory prepayments on its term loans from excess cash flow and with the proceeds of asset sales, debt issuances and specified other events, subject to certain exceptions. The credit facility is secured by substantially all of the Company's assets and has various restrictive covenants, including the maximum ratio of consolidated secured debt to consolidated earnings before interest, taxes, depreciation and amortization ("EBITDA"). The maximum permitted ratio of consolidated secured debt to consolidated EBITDA was 4.50 to 1.00 as of September 30, 2019, and steps down at regular intervals to 3.75 to 1.00 as of September 30, 2021 and thereafter. The credit facility also contains certain customary limitations including, among other terms and conditions, the Company's ability to incur additional indebtedness, engage in mergers and acquisitions and declare dividends. At September 30, 2019, the Company was in compliance with its debt covenants; its ratio of consolidated secured debt to consolidated EBITDA was 2.26 to 1.00 and it had $196.1 million of available borrowing capacity under its revolving credit facility. At September 30, 2019 and December 31, 2018, the Company had $3.9 million and $4.4 million undrawn stand-by letters of credit outstanding to secure certain obligations.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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