XML 155 R46.htm IDEA: XBRL DOCUMENT v3.20.1

Long-term debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of long-term debt

The following table presents information related to the Secured Loan Agreement:

Interest Expense (i) (ii)												DFC Amortization (ii)												Other Costs (ii) (iii)
2019				2018				2017				2019				2018				2017				2019				2018				2017
$	—			$	—			$	2,570			$	—			$	—			$	3,251			$	—			$	—			$	2,249

(i) This charge do not include the effect of the cross-currency interest rate swap agreements mentioned in Note 13, amounting to a loss of $6,921, during fiscal year 2017. Including this effect the total interest cost amounts to $9,491.

(ii) This charge is included within "Net interest expense" in the consolidated statement of income.

(iii)

Transaction costs related to the repayment of the Loan.

Each loan under the agreement bore interest at the following annual interest rates:

Lender		Annual Interest Rate
Citibank N.A.		3M LIBOR + 2.439%
Itaú BBA International plc		5.26%
Banco Santander (Brasil) S.A., Cayman Islands Branch		4.7863%
Bank of America N.A.		3M LIBOR + 4.00%
JP Morgan Chase Bank, N.A.		3M LIBOR + 3.92%

The following table presents additional information related to the 2027 and 2023 Notes (the "Notes"):

						Principal as of December 31,
	Annual interest rate			Currency		2019				2018				Maturity
2027 Notes	5.875	%		USD		$	265,000			$	265,000			April 4, 2027
2023 Notes	6.625	%		USD		348,069				348,069				September 27, 2023

2027 and 2023 Notes (continued)

		Interest Expense (i)												DFC Amortization (i)												Amortization of Discount, net (i)
		2019				2018				2017				2019				2018				2017				2019				2018				2017
2027 Notes		$	15,569			$	15,569			$	11,547			$	299			$	299			$	224			$	—			$	—			$	—
2023 Notes		23,060				23,060				23,885				323				323				610				402				397				752

(i)

These charges are included within "Net interest expense" in the consolidated statements of income.

Long-term debt consists of the following at year-end:

		2019				2018
2027 Notes		$	265,000			$	265,000
2023 Notes		348,069				348,069
Finance lease obligations		5,419				6,503
Other long-term borrowings		13,284				16,676
Subtotal		631,772				636,248
Discount on 2023 Notes		(2,504		)		(3,156		)
Premium on 2023 Notes		937				1,187
Deferred financing costs		(3,397		)		(4,019		)
Total		626,808				630,260
Current portion of long-term debt		3,233				3,836
Long-term debt, excluding current portion		$	623,575			$	626,424

Schedule of future payments related to long-term debt

At December 31, 2019, future payments related to the Company’s long-term debt are as follows:

		Principal				Interest				Total
2020		$	3,233			$	40,190			$	43,423
2021		3,173				39,896				43,069
2022		3,370				39,568				42,938
2023		350,959				39,292				390,251
2024		2,307				15,974				18,281
Thereafter		268,730				41,151				309,881
Total payments		631,772				216,071				847,843
Interest		—				(216,071		)		(216,071		)
Discount on 2023 Notes		(2,504		)		—				(2,504		)
Premium on 2023 Notes		937				—				937
Deferred financing cost		(3,397		)		—				(3,397		)
Long-term debt		$	626,808			$	—			$	626,808

X

- References

No definition available.

+ Details

Name:	us-gaap_DebtDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Name:	us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601

+ Details

Name:	us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration