Debt and Credit Facilities

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Debt and Credit Facilities

Debt and Credit Facilities

Our total debt outstanding consisted of the amounts set forth in the following table: 

(In millions)	Interest rate		June 30, 2021		December 31, 2020
Short-term borrowings(1)			$	0.4	$	7.2
Current portion of long-term debt(2)			22.9		22.3
Total current debt			23.3		29.5
Term Loan A due August 2022			474.8		474.7
Term Loan A due July 2023			203.8		208.6
Senior Notes due December 2022	4.875	%	423.7		423.3
Senior Notes due April 2023	5.250	%	423.3		422.9
Senior Notes due September 2023	4.500	%	474.4		490.2
Senior Notes due December 2024	5.125	%	422.5		422.1
Senior Notes due September 2025	5.500	%	398.0		397.8
Senior Notes due December 2027	4.000	%	421.1		420.9
Senior Notes due July 2033	6.875	%	446.1		446.0
Other(2)			24.1		24.9
Total long-term debt, less current portion(3)			3,711.8		3,731.4
Total debt(4)			$	3,735.1	$	3,760.9

(1)Short-term borrowings of $0.4 million and $7.2 million at June 30, 2021 and December 31, 2020, respectively, were comprised of short-term borrowings from various lines of credit.

(2)Current portion of long-term debt includes finance lease liabilities of $11.2 million and $10.5 million at June 30, 2021 and December 31, 2020, respectively. Other debt includes long-term liabilities associated with our finance leases of $21.8 million and $23.9 million at June 30, 2021 and December 31, 2020, respectively. See Note 4, "Leases," for additional information on finance and operating lease liabilities.

(3)Amounts are shown net of unamortized discounts and issuance costs of $17.7 million as of June 30, 2021 and $20.1 million as of December 31, 2020.

(4)As of June 30, 2021, our weighted average interest rate on our short-term borrowings outstanding was 5.0% and on our long-term debt outstanding was 4.4%. As of December 31, 2020, our weighted average interest rate on our short-term borrowings outstanding was 2.2% and on our long-term debt outstanding was 4.4%.

Lines of Credit

The following table summarizes our available lines of credit and committed and uncommitted lines of credit, including our revolving credit facility, and the amounts available under our accounts receivable securitization programs.

(In millions)	June 30, 2021		December 31, 2020
Used lines of credit(1)	$	0.4	$	7.2
Unused lines of credit	1,308.6		1,312.0
Total available lines of credit(2)	$	1,309.0	$	1,319.2

(1)Includes total borrowings under the accounts receivable securitization programs, the revolving credit facility and borrowings under lines of credit available to several subsidiaries.

(2)Of the total available lines of credit, $1,143.6 million was committed as of June 30, 2021.

Covenants

Each issue of our outstanding senior notes imposes limitations on our operations and those of specified subsidiaries. Our senior secured credit facility contains customary affirmative and negative covenants for credit facilities of this type, including limitations on our indebtedness, liens, investments, restricted payments, mergers and acquisitions, dispositions of assets, transactions with affiliates, amendment of documents and sale leasebacks, and a covenant specifying a maximum leverage ratio to EBITDA. We were in compliance with the above financial covenants and limitations at June 30, 2021.