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Debt | 12 Months Ended
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Dec. 31, 2022
Debt Disclosure [Abstract] |
Debt | Debt Debt outstanding was as follows:
| In millions | December 31, 2022 |  | December 31, 2021 |
| 4.88% Loan Notes due June 2023 | 25.0 |  |  | 25.0 |  |
| 4.94% Loan Notes due June 2026 | 25.0 |  |  | 25.0 |  |
| Revolving credit facility | 31.9 |  |  | 10.8 |  |
| Unamortized debt issuance costs | (0.7) |  |  | (1.2) |  |
| Total debt | $ | 81.2 |  |  | $ | 59.6 |  |
| Less current portion | (25.0) |  |  | — |  |
| Non-current debt | $ | 56.2 |  |  | $ | 59.6 |  |
In October 2021, the Company completed a refinancing of its existing Revolving Credit Facility, ("RCF"), extending its tenure to October 2026, while providing increased flexibility to incur additional indebtedness outside of this agreement if required and reducing the covenant burden. At December 31, 2022 $100 million of committed debt facilities in the form of a multi-currency (GBP sterling, U.S. dollars or euros) RCF was available to the Company. In addition, $50 million of uncommitted facility capacity was available through an accordion increase clause. On January 3, 2023, the accordion increase clause was partial triggered increasing the RCF to $125 million with a corresponding reduction in the uncommitted accordion capacity to $25 million. The RCF bears interest equal to an applicable margin, based upon the Company's leverage, plus either EURIBOR, in the case of amounts drawn in euros, or SONIA (Sterling Overnight Index Average), in the case of amounts drawn in GBP sterling, or SOFR (Secured Overnight Financing Rate) in the case of amounts drawn in U.S. dollars. The weighted-average interest rate on the RCF was 3.80% and 1.70% in 2022 and 2021, respectively. The maturity profile of the Company's debt, excluding unamortized issuance costs and discounts is, as follows:
| In millions | 2023 |  | 2024 |  | 2025 |  | 2026 |  |  |  | Total |
| Loan Notes due June 2023 | $ | 25.0 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | 25.0 |  |
| Loan Notes due June 2026 | — |  |  | — |  |  | — |  |  | 25.0 |  |  |  |  | 25.0 |  |
| Revolving credit facility due October 2026 | — |  |  | — |  |  | — |  |  | 31.9 |  |  |  |  | 31.9 |  |
| Total debt | $ | 25.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 56.9 |  |  |  |  | $ | 81.9 |  |
11. Debt (continued) 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 in 2022. Senior Facilities Agreement The Senior Facilities Agreement contains a number of additional undertakings and covenants that, among other things, restrict, subject to certain exceptions, our and our subsidiaries' ability to: •engage in mergers, divestitures, consolidations or divisions; •change the nature of our business; •make certain acquisitions; •participate in certain joint ventures; •grant liens or other security interests on our assets; •sell, lease, transfer or otherwise dispose of assets, including receivables; •enter into certain non-arm's-length transactions; •grant guarantees; •pay off certain existing indebtedness; •make investments, loans or grant credit; and •issue shares or other securities; The RCF requires us to maintain compliance with an interest coverage ratio and a leverage ratio. The interest coverage ratio measures our EBITDA (as defined in the RCF) to Net Finance Charges (as defined in the RCF). We are required to maintain a minimum interest coverage ratio of 4.0:1. The leverage ratio measures our Total Net Debt (as defined in the RCF) to the Relevant Period Adjusted Acquisition EBITDA (as defined in the RCF). We are required to maintain a leverage ratio of no more than 3.0:1. Any breach of a covenant in the RCF could result in a default under the RCF, in which case lenders could elect to declare all borrowed amounts immediately due and payable if the default is not remedied or waived within any applicable grace periods. Additionally, our subsidiaries' ability to make investments, incur liens and make certain restricted payments is also controlled by limits within the RCF. We have been in compliance with the covenants under the SFA throughout all of the quarterly measurement dates in 2022, with an expectation of compliance in 2023.

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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 https://asc.fasb.org/topic&trid=2208564 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1E -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 + Details
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