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Long-term Debt and Short-term Borrowings (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Notes Payable and Long-Term Debt

Notes payable and long-term debt, listed in order of the priority of security interests in assets of the Company, consisted of the following as of December 31, 2019 and 2018:

(in millions)	2019				2018
Euro Senior Secured Term Loan A, due May 2024 (floating interest rate of 1.5% at December 31, 2019)	$	275.9			$	—
Euro Senior Secured Term Loan A, due January 2022 (floating interest rate of 1.50% at December 31, 2018)	—				289.0
USD Senior Secured Term Loan A, due May 2024 (floating interest rate of 3.44% at December 31, 2019)	97.5				—
Australian Dollar Senior Secured Term Loan A, due May 2024 (floating interest rate of 2.45% at December 31, 2019)	41.6				—
Australian Dollar Senior Secured Term Loan A, due January 2022 (floating interest rate of 3.56% at December 31, 2018)	—				43.0
U.S. Dollar Senior Secured Revolving Credit Facility, due May 2024 (floating interest rate of 3.26% at December 31, 2019)	8.2				—
U.S. Dollar Senior Secured Revolving Credit Facility, due January 2022 (floating interest rate of 4.36% at December 31, 2018)	—				106.8
Australian Dollar Senior Secured Revolving Credit Facility, due May 2024 (floating interest rate of 2.44% at December 30, 2019)	14.0				—
Australian Dollar Senior Secured Revolving Credit Facility, due January 2022 (floating interest rate of 3.54% at December 31, 2018)	—				73.9
Senior Unsecured Notes, due December 2024 (fixed interest rate of 5.25%)	375.0				375.0
Other borrowings	3.8				0.3
Total debt	816.0				888.0
Less:
Current portion	33.2				39.5
Debt issuance costs, unamortized	5.6				5.5
Long-term debt, net	$	777.2			$	843.0

Schedule of Credit Spread Based on Consolidated Leverage Ratio

Amounts outstanding under the Credit Agreement bear interest at a rate per annum equal to the Euro Rate with a 0 percent floor, the Australian BBSR Rate, the Canadian BA Rate or the Base Rate, as applicable and as each such rate is defined in the Credit Agreement, plus an "applicable rate." The applicable rate applied to outstanding Euro, Australian and Canadian dollar denominated loans and Base Rate loans is based on the Company’s Consolidated Leverage Ratio (as defined in the Credit Agreement) as follows:

Consolidated Leverage Ratio		Applicable Rate on Euro/AUD/CDN Dollar Loans		Applicable Rate on Base Rate Loans
> 3.50 to 1.00		2.25%		1.25%
≤ 3.50 to 1.00 and > 3.25 to 1.00		2.00%		1.00%
≤ 3.25 to 1.00 and > 3.00 to 1.00		1.75%		0.75%
≤ 3.00 to 1.00 and > 2.00 to 1.00		1.50%		0.50%
≤ 2.00 to 1.00		1.25%		0.25%

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[Table Text Block] for Schedule of Applicable Rates Based on the Company's Consolidated Leverage Ratio [Table]

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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.

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