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Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2016
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt

Long-term debt consists of the following:

 

(in millions)

    2016      2015  

Revolving credit facility

    $ 161.0       $ 133.0   

Term loan

      110.0         0.0   

Deferred finance costs

      (2.2 )       (1.4 ) 
  

 

 

     

 

 

  
     268.8         131.6   

Less current portion

      (10.3 )       0.0   
  

 

 

     

 

 

  
   $ 258.5       $ 131.6   
  

 

 

     

 

 

  
Summary of Debt Refinancing Costs

As a result, the Company capitalized $1.2 million of refinancing costs in 2016 and $1.5 million in 2015, which are being amortized over the expected life of the facility, as shown here:

 

(in millions)

    2016      2015  

Gross cost at January 1

    $ 1.5       $ 2.6   

Capitalized in the year

      1.2         1.5   

Written down in the year

      0.0         (2.6 ) 
  

 

 

     

 

 

  
   $ 2.7       $ 1.5   
  

 

 

     

 

 

  

Accumulated amortization at January 1

    $ (0.1 )     $ (1.5 ) 

Amortization in the year

      (0.4 )       (1.2 ) 

Amortization written down in the year

      0.0         2.6   
  

 

 

     

 

 

  
   $ (0.5 )     $ (0.1 ) 
  

 

 

     

 

 

  

Net book value at December 31

    $ 2.2       $ 1.4