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Long-Term Debt and Short-Term Borrowings (Tables) | 9 Months Ended
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Sep. 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 September 30, 2022 and December 31, 2021:
(in millions) |  | September 30, 2022 |  |  | December 31, 2021 |
Euro Senior Secured Term Loan A, due March 2026 (floating interest rate of 2.69% at September 30, 2022 and 2.00% at December 31, 2021) | $ |  | 212.2 |  | $ |  | 254.8 |
USD Senior Secured Term Loan A, due March 2026 (floating interest rate of 5.12% at September 30, 2022 and 2.22% at December 31, 2021) |  |  | 85.6 |  |  |  | 89.0 |
Australian Dollar Senior Secured Term Loan A, due March 2026 (floating interest rate of 5.07% at September 30, 2022 and 2.11% at December 31, 2021) |  |  | 33.9 |  |  |  | 39.4 |
U.S. Dollar Senior Secured Revolving Credit Facility, due March 2026 (floating interest rate of 4.92% at September 30, 2022 and 2.10% at December 31, 2021) |  |  | 149.9 |  |  |  | 13.7 |
Australian Dollar Senior Secured Revolving Credit Facility, due March 2026 (floating interest rate of 4.90% at September 30, 2022 and 2.06% at December 31, 2021) |  |  | 24.0 |  |  |  | 25.4 |
Senior Unsecured Notes, due March 2029 (fixed interest rate of 4.25%) |  |  | 575.0 |  |  |  | 575.0 |
Other borrowings |  |  | 1.4 |  |  |  | 9.4 |
Total debt |  |  | 1,082.0 |  |  |  | 1,006.7 |
Less: |  |  |  |  |  |
Current portion |  |  | 28.6 |  |  |  | 43.0 |
Debt issuance costs, unamortized |  |  | 8.4 |  |  |  | 9.6 |
Long-term debt, net | $ |  | 1,045.0 |  | $ |  | 954.1 |
Schedule of Maximum Consolidated Leverage Ratio | the maximum Consolidated Leverage Ratio (as defined in the Credit Agreement) 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 | The current maturity of the Credit Agreement is March 31, 2026 and the current pricing is 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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