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Long-term Debt and Short-term Borrowings (Tables)
 12 Months Ended
Dec. 31, 2020
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, 2020 and 2019:
(in millions)20202019
Euro Senior Secured Term Loan A, due May 2024 (floating interest rate of 2.50% at December 31, 2020 and 1.50% at December 31, 2019)$287.4 $275.9 
USD Senior Secured Term Loan A, due May 2024 (floating interest rate of 3.50% at December 31, 2020 and 3.44% at December 31, 2019)92.5 97.5 
Australian Dollar Senior Secured Term Loan A, due May 2024 (floating interest rate of 2.57% at December 31, 2020 and 2.45% at December 31, 2019)43.4 41.6 
U.S. Dollar Senior Secured Revolving Credit Facility, due May 2024 (floating interest rate of 3.50% at December 31, 2020 and 3.26% at December 31, 2019)307.2 8.2 
Australian Dollar Senior Secured Revolving Credit Facility, due May 2024 (floating interest rate of 2.57% at December 31, 2020 and 2.44% at December 31, 2019)25.4 14.0 
Senior Unsecured Notes, due December 2024 (fixed interest rate of 5.25%)375.0 375.0 
Other borrowings5.7 3.8 
Total debt1,136.6 816.0 
Less:
 Current portion76.5 33.2 
 Debt issuance costs, unamortized5.5 5.6 
Long-term debt, net$1,054.6 $777.2 
Schedule of Debt Consolidated Leverage Ratio amended the maximum Consolidated Leverage Ratio financial covenant by 0.50:1.00 from current levels for each of the six fiscal quarters ending March 31, 2021 and ending June 30, 2022, as follows:
Quarter EndedMaximum Consolidated Leverage Ratio
March 20215.25:1.00
June 20215.25:1.00
September 20214.75:1.00
December 20214.25:1.00
March 20224.25:1.00
June 20224.25:1.00
September 2022 and thereafter3.75:1.00
Schedule of Credit Spread Based on Consolidated Leverage Ratio
Amounts outstanding under the Credit Agreement, as amended, bear interest at a rate per annum equal to the Euro Rate (with a zero percent floor for Euro borrowings and a 1.00 percent floor for USD borrowings), 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, as amended, 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 follows:
Consolidated Leverage RatioApplicable Rate on Euro/AUD/CDN Dollar LoansApplicable Rate on Base Rate LoansUndrawn Fee
> 4.25 to 1.002.75%1.75%0.50%
≤ 4.25 to 1.00 and > 4.00 to 1.002.50%1.50%0.50%
≤ 4.00 to 1.00 and > 3.50 to 1.002.25%1.25%0.38%
≤ 3.50 to 1.00 and > 3.25 to 1.002.00%1.00%0.38%
≤ 3.25 to 1.00 and > 3.00 to 1.001.75%0.75%0.30%
≤ 3.00 to 1.00 and > 2.00 to 1.001.50%0.50%0.25%
≤ 2.00 to 1.001.25%0.25%0.20%