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Subsequent Events | 9 Months Ended
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Sep. 30, 2020
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events On October 22, 2020, the company announced the pricing of $485.0 million aggregate principal amount of Senior Secured Notes due 2027 (the notes) through a private offering. The offering of the notes is expected to close on October 29, 2020, subject to customary closing conditions. The notes will be priced at par and will bear interest at a rate of 6.875% per year until maturity, payable semiannually in arrears on May 1 and November 1 of each year, beginning on May 1, 2021. The company intends to use all of the net proceeds from the offering of the notes to fund a portion of its underfunded U.S. pension liability. In addition, the company has received commitments from lenders, subject to customary conditions, to amend and restate its ABL Credit Facility (the Amendment and Restatement). The Amendment and Restatement will maintain the ABL Credit Facility at $145 million, with an accordion provision allowing for an increase to $175 million, and will extend the maturity from October 2022 to October 2025 and modify certain other terms and covenants, to be mutually agreed between the company, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent thereunder. There is no assurance that the company will be successful in entering into the Amendment and Restatement or that the Amendment and Restatement will be completed on the terms set forth in such commitments.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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