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Long-Term Debt and Short-Term Borrowings (Tables) | 6 Months Ended
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Jun. 30, 2021
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 June 30, 2021 and December 31, 2020:
(in millions) | June 30, 2021 |  | December 31, 2020
Euro Senior Secured Term Loan A, due March 2026 (floating interest rate of 2.25% at June 30, 2021) | $ | 274.6 |  |  | $ | — |
Euro Senior Secured Term Loan A, due May 2024 (floating interest rate of 2.50% at December 31, 2020) | — |  |  | 287.4 |
USD Senior Secured Term Loan A, due March 2026 (floating interest rate of 2.40% at June 30, 2021) | 91.3 |  |  | — |
USD Senior Secured Term Loan A, due May 2024 (floating interest rate of 3.50% at December 31, 2020) | — |  |  | 92.5 |
Australian Dollar Senior Secured Term Loan A, due March 2026 (floating interest rate of 2.31% at June 30, 2021) | 41.9 |  |  | — |
Australian Dollar Senior Secured Term Loan A, due May 2024 (floating interest rate of 2.57% at December 31, 2020) | — |  |  | 43.4 |
U.S. Dollar Senior Secured Revolving Credit Facility, due March 2026 (floating interest rate of 2.40% at June 30, 2021) | 224.8 |  |  | — |
U.S. Dollar Senior Secured Revolving Credit Facility, due May 2024 (floating interest rate of 3.50% at December 31, 2020) | — |  |  | 307.2 |
Australian Dollar Senior Secured Revolving Credit Facility, due March 2026 (floating interest rate of 2.31% at June 30, 2021) | 31.5 |  |  | — |
Australian Dollar Senior Secured Revolving Credit Facility, due May 2024 (floating interest rate of 2.57% at December 31, 2020) | — |  |  | 25.4 |
Senior Unsecured Notes, due March 2029 (fixed interest rate of 4.25%) | 575.0 |  |  | — |
Senior Unsecured Notes, due December 2024 (fixed interest rate of 5.25%) | — |  |  | 375.0 |
Other borrowings | 8.2 |  |  | 5.7 |
Total debt | 1,247.3 |  |  | 1,136.6 |
Less: |  |  |
Current portion | 43.6 |  |  | 76.5 |
Debt issuance costs, unamortized | 10.4 |  |  | 5.5 |
Long-term debt, net | $ | 1,193.3 |  |  | $ | 1,054.6 |
Schedule of Maximum Consolidated Leverage Ratio | further amend the maximum Consolidated Leverage Ratio financial covenant for each of the six fiscal quarters beginning March 31, 2021 and ending June 30, 2022, as follows:
Quarter Ended |  | Maximum Consolidated Leverage Ratio
March 2021 |  | 5.25:1.00
June 2021 |  | 5.25:1.00
September 2021 |  | 4.75:1.00
December 2021 |  | 4.25:1.00
March 2022 |  | 4.25:1.00
June 2022 |  | 4.25:1.00
September 2022 and thereafter |  | 3.75:1.00
Schedule of Consolidated Leverage Ratio under Amended Credit Agreement | reflect more favorable pricing at higher Consolidated Leverage Ratio levels along with lower fees on undrawn amounts, as follows:
Consolidated Leverage Ratio |  | Applicable Rate on Euro/AUD/CDN Dollar Loans |  | Applicable Rate on Base Rate Loans |  | Undrawn Fee
> 4.50 to 1.00 |  | 2.50% |  | 1.50% |  | 0.500%
≤ 4.50 to 1.00 and > 4.00 to 1.00 |  | 2.25% |  | 1.25% |  | 0.375%
≤ 4.00 to 1.00 and > 3.50 to 1.00 |  | 2.00% |  | 1.00% |  | 0.350%
≤ 3.50 to 1.00 and > 3.00 to 1.00 |  | 1.75% |  | 0.75% |  | 0.300%
≤ 3.00 to 1.00 and > 2.00 to 1.00 |  | 1.50% |  | 0.50% |  | 0.250%
≤ 2.00 to 1.00 |  | 1.25% |  | 0.25% |  | 0.200%

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 + Details
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