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Debt

3 Months Ended

Mar. 29, 2020

Debt Disclosure [Abstract]

Debt

Debt

Debt outstanding was as follows:

	In millions	March 29, 2020				December 31, 2019
	3.67% Loan Notes due 2021	$	25.0			$	25.0
	4.88% Loan Notes due 2023	25.0				25.0
	4.94% Loan Notes due 2026	25.0				25.0
	Revolving credit facility	34.7				17.5
	Unamortized debt issuance costs	(0.9		)		(1.1		)
	Total debt	$	108.8			$	91.4
	Less current portion	$	—			$	—
	Non-current debt	$	108.8			$	91.4

The weighted-average interest rate on the revolving credit facility was 2.32% for the First Quarter of 2020 and 2.47% for the full-year 2019.

The maturity profile of the Company's debt, excluding unamortized issuance costs and discounts, is as follows:

	In millions	2020				2021				2022				2023				2024				2025				Thereafter				Total
	Loan Notes due 2021	$	—			$	25.0			$	—			$	—			$	—			$	—			$	—			$	25.0
	Loan Notes due 2023	—				—				—				25.0				—				—				—				25.0
	Loan Notes due 2026	—				—				—				—				—				—				25.0				25.0
	Revolving credit facility	—				—				34.7				—				—				—				—				34.7
	Total debt	$	—			$	25.0			$	34.7			$	25.0			$	—			$	—			$	25.0			$	109.7

Loan notes due and shelf facility

We have been in compliance with the covenants under the Note Purchase and Private Shelf Agreement throughout all of the quarterly measurement dates from and including September 30, 2014, to March 29, 2020.

The Loan Notes due 2021, 2023 and 2026, the Shelf Facility and the Note Purchase and Private Shelf Agreement are governed by the law of the State of New York.

Senior Facilities Agreement

During the First Quarter of 2020, we drew down $17.2 million on the Revolving Credit Facility and the balance outstanding at March 29, 2020, was $34.7 million, and at December 31, 2019, was $17.5 million, with $115.3 million undrawn at March 29, 2020, $132.5 million at December 31, 2019.

We have been in compliance with the covenants under the Senior Facilities Agreement throughout all of the quarterly measurement dates from and including September 30, 2011, to March 29, 2020.

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- References

No definition available.

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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

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