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Long-Term Debt (Notes) | 9 Months Ended
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Sep. 30, 2020
Debt Disclosure [Abstract] |
Long-Term Debt | Long-term debt consisted of the following (in millions):
| September 30, 2020 |  | December 31, 2019 |  |  |  |
Senior Secured Credit Facility: |  |  |  |  |  |  |
$250 million revolving credit facility, due 2024 | $ | — |  |  | $ | — |  |  |  |  |
Term B loan facility, due 2025 | 490.8 |  |  | 490.8 |  |  |  |  |
Unsecured Senior Notes, due 2028 | 550.0 |  |  | 550.0 |  |  |  |  |
| 1,040.8 |  |  | 1,040.8 |  |  |  |  |
Unamortized deferred loan costs | (7.6) |  |  | (8.5) |  |  |  |  |
Total long-term debt | $ | 1,033.2 |  |  | $ | 1,032.3 |  |  |  |  |
Senior Secured Credit Facility The senior secured credit facility ("Credit Facility") consists of a term B loan and a revolving credit facility with a maximum borrowing capacity of $250.0 million ("Revolver"). Borrowings under the term B loan bear interest at LIBOR plus 1.75 percent, or the bank’s base rate plus 0.75 percent. Borrowings under the Revolver bear interest at LIBOR plus 1.25 percent to 2.25 percent, or the bank’s base rate plus 0.25 to 1.25 percent, depending on leverage levels. At September 30, 2020, the Company had no outstanding borrowings under the Revolver and had $3.9 million in undrawn stand-by letters of credit to secure certain obligations. A commitment fee of 0.20 to 0.35 percent is payable on the undrawn portion of the Revolver. There are no required minimum payments on the Credit Facility and it is secured by substantially all of the Company's assets and includes various restrictive covenants. The Company is required to make mandatory prepayments on its term B loan from excess cash flow and with the proceeds of asset sales, debt issuances and specified other events, subject to certain exceptions. The Revolver is limited to a maximum ratio of senior secured debt to trailing 12-months of lender-defined consolidated EBITDA. At September 30, 2020, the Company was in compliance with its debt covenants. Unsecured Senior Notes The Company has $550.0 million of unsecured senior notes due in 2028 ("Senior Notes"). The Senior Notes bear interest at 4.625 percent, which is payable in arrears on May 15 and November 15 of each year. The Senior Notes are unsecured obligations and are subordinate to the Company's Credit Facility to the extent of the collateral securing such facility. The Senior Notes also contain certain customary limitations including, among other terms and conditions, the Company's ability to incur additional indebtedness, engage in mergers and acquisitions, transfer or sell assets and make certain distributions.

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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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