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Long-Term Debt | 9 Months Ended
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Sep. 30, 2019
Debt Disclosure [Abstract] |
Long-Term Debt | NOTE 9 – LONG-TERM DEBT Long-term debt consists of the following:
(in millions) |  | September 30, 2019 |  |  | December 31, 2018 |
Revolving credit facility |  | $ | 132.5 |  |  | $ | 126.0 |
Term loan |  |  | 0.0 |  |  |  | 82.5 |
Deferred finance costs |  |  | (1.3 | ) |  |  | (0.9 | )
|  | $ | 131.2 |  |  | $ | 207.6 |
Due within one year |  |  | 0.0 |  |  |  | (21.4 | )
Due after one year |  | $ | 131.2 |  |  | $ | 186.2 |
On September 26 , 2019, Innospec and certain of its subsidiaries entered into a new agreement for a $250.0 million revolving credit facility until September 25, 2023 with an option to request an extension to the facility for a further year. The facility also contains an accordion feature whereby the Company may elect to increase the total available borrowings by an aggregate amount of u p to $125.0 million . On September ​​​​​​​30, 2019 the Company repaid its pre-existing term loan and revolving credit facility that had been amended and restated on December 14, 2016, and replaced this borrowing with the new credit facility. As a result, refinancing costs of $1.3 million were capitalized which are being amortized over the expected life of the facility.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + 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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