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Debt (Tables)

6 Months Ended

Jun. 30, 2021

Outstanding debt as of June 30, 2021 and December 31, 2020 are summarized as follows:

	June 30, 2021			December 31, 2020
Borrowings under senior secured asset based revolving credit facility	$	—		$	—
Senior secured second lien notes due 2026		300.0			300.0
Other		7.2			14.7
Deferred financing costs		(3.5	)		(3.8	)
Total debt		303.7			310.9
Short-term borrowings and current portion of long-term debt		(3.7	)		(10.5	)
Long-term debt	$	300.0		$	300.4

Schedule of revolving credit facility bear interest at variable rate based upon average quarterly availability

Borrowings under the ABL Revolving Credit Facility bear interest at a variable rate using either the Alternative Base Rate or the Eurodollar and Overnight London Interbank Offered Rate (“LIBOR”). The variable interest rate is based upon the average availability as of the most recent determination date as follows:

Average quarterly availability	Alternative base rate spread	Eurodollar and overnight LIBOR spread
≥ 50% of Aggregate Commitment	0.25%	1.25%
< 50% of Aggregate Commitment	0.50%	1.50%

- 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

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+ Details