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

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Summary of 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, 2022 and December 31, 2021:

(in millions)		June 30, 2022				December 31, 2021
Euro Senior Secured Term Loan A, due March 2026 (floating interest rate of 2.00% at June 30, 2022 and 2.00% at December 31, 2021)	$		228.8		$		254.8
USD Senior Secured Term Loan A, due March 2026 (floating interest rate of 4.25% at June 30, 2022 and 2.22% at December 31, 2021)			86.7				89.0
Australian Dollar Senior Secured Term Loan A, due March 2026 (floating interest rate of 3.86% at June 30, 2022 and 2.11% at December 31, 2021)			36.4				39.4
U.S. Dollar Senior Secured Revolving Credit Facility, due March 2026 (floating interest rate of 3.45% at June 30, 2022 and 2.10% at December 31, 2021)			214.8				13.7
Australian Dollar Senior Secured Revolving Credit Facility, due March 2026 (floating interest rate of 3.18% at June 30, 2022 and 2.06% at December 31, 2021)			25.5				25.4
Senior Unsecured Notes, due March 2029 (fixed interest rate of 4.25%)			575.0				575.0
Other borrowings			20.2				9.4
Total debt			1,187.4				1,006.7
Less:
Current portion			54.1				43.0
Debt issuance costs, unamortized			8.8				9.6
Long-term debt, net	$		1,124.5		$		954.1

Schedule of Maximum Consolidated Leverage Ratio

•amended the maximum Consolidated Leverage Ratio financial covenant for the fiscal quarters beginning March 31, 2021, 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		4.00:1.00

Schedule of Applicable Rate and Undrawn Fee Based on Company's Consolidated Leverage Ratio

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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Schedule of Applicable Rate and Undrawn Fee Based on Company's Consolidated Leverage Ratio

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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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