XML 24 R12.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Debt and Other Obligations | 3 Months Ended
--- | ---
Mar. 31, 2024
Debt Disclosure [Abstract] |
Debt and Other Obligations | Debt and Other Obligations Debt and other obligations are as follows:
| March 31, 2024 |  | December 31, 2023
(In millions)
Current |  |  |
Current portion of Term-Loan | $ | 3.0 |  |  | $ | 3.1 |
Deferred debt issuance costs - Term-Loan | (0.8) |  |  | (0.8) |
Other short-term debt and obligations | 142.6 |  |  | 134.7 |
Current portion of long-term debt and other financial liabilities | 144.8 |  |  | 137.0 |
Non-current |  |  |
Term-Loan | 613.8 |  |  | 621.8 |
Deferred debt issuance costs - Term-Loan | (2.7) |  |  | (3.1) |
China Term-Loan | 57.6 |  |  | 58.6 |
Long-term debt, net | 668.7 |  |  | 677.3 |
Total | $ | 813.5 |  |  | $ | 814.3 |
a. Revolving credit facility As of March 31, 2024, total capacity under our senior secured revolving credit facility (the “RCF”) and Ancillary facilities is €300 million. There were no borrowings under the RCF as of March 31, 2024 or December 31, 2023. As of March 31, 2024 and December 31, 2023, availability under the RCF and Ancillary facilities is $192.6 million and $221.6 million, respectively. b. Other Short-Term borrowings and Obligations Other short-term debt and obligations are as follows:
| March 31, 2024 |  | December 31, 2023
| (In millions)
Revolving Credit Facility | $ | — |  |  | $ | — |
Ancillary Credit Facilities |  |  |
OEC GmbH outstanding borrowings | 119.9 |  |  | 88.8 |
OEC LLC outstanding borrowings | 5.8 |  |  | 21.1 |
Brazil Uncommitted Local Lines of Credit (capacity $3.2 million) | — |  |  | — |
Korea Working Capital Loan (capacity $38.9 million) |  |  |
Uncommitted | 1.9 |  |  | 1.9 |
Committed | 15.0 |  |  | 20.1 |
China Working Capital Loan | — |  |  | 2.8 |
Total of Other Short-term Debt and Obligations | $ | 142.6 |  |  | $ | 134.7 |
Supplemental information: |  |  |
Total ancillary capacity - EUR | € | 234.0 |  |  | € | 214.0 |
Total ancillary capacity - U.S. Dollars | $ | 253.0 |  |  | $ | 236.5 |
As of March 31, 2024, we are in compliance with our debt covenants. For additional information relating to our debt, see “Note J. Debt and Other Obligations”, included in our Annual Report in Form 10-K for the year ended December 31, 2023.

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 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://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1E -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration