Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2018

Debt Instrument [Line Items]

Schedule of Long-term Debt Instruments

Long-term debt consisted of the following as of December 31, 2018 and 2017 (dollars in thousands):

	2018			2017
Credit Agreement and Prior Credit Agreement with variable interest rates (weighted average of 3.70% and 2.82% before impact of interest rate swaps at December 31, 2018 and 2017, respectively) due 2023	$	1,783,423		$	1,567,882
Australian Credit Agreement with variable interest rates (weighted average of 4.56% and 4.28% before impact of interest rate swaps at December 31, 2018 and 2017, respectively) due 2021	458,166			525,101
MIRA Partner Loan Agreement (6.72% and 6.50% interest rate at December 31, 2018 and 2017, respectively) due 2026	167,796			186,085
Other debt and capital leases	64,261			77,402
Less: Unamortized debt issuance costs long-term	(20,108		)	(25,175		)
Total debt	2,453,538			2,331,295
Less: current portion, net of unamortized debt issuance costs	28,303			27,853
Long-term debt, less current portion	$	2,425,235		$	2,303,442

Schedule of Debt

The United States dollar-denominated and British pound-denominated term loans will amortize in quarterly installments, with the remaining principal balance payable upon maturity, as set forth below (amounts in thousands):

	Quarterly Payment Date	Principal Amount of Each Quarterly Installment
United States dollar:	March 31, 2020	$	4,513
	June 30, 2020 through March 31, 2023	$	17,788
	Maturity date - June 5, 2023	$	1,085,031
British pound:	June 30, 2020	£	2,293
	September 30, 2020 through March 31, 2023	£	3,412
	Maturity date - June 5, 2023	£	208,111

Schedule of Unused Borrowing Capacity Under Revolving Credit Facility

The Company's availability to draw from the unused borrowing capacity is subject to covenant limitations as discussed below. As of December 31, 2018, the Company had the following unused borrowing capacity under its revolving credit facility (amounts in thousands):

	2018
Total available borrowing capacity	$	625,000
Outstanding revolving loans	$	164,136
Outstanding letter of credit guarantees	$	2,606
Unused borrowing capacity	$	458,258

Schedule of Maturities of Long-term Debt

The following is a summary of the maturities of the Company's long-term debt, including capital leases, as of December 31, 2018 (dollars in thousands):

	Amount
2019	$	36,731
2020	110,897
2021	121,360
2022	494,533
2023	1,537,084
Thereafter(a)	215,699
Total	$	2,516,304

(a) Includes the A$50.0 million (or $35.2 million at the exchange rate on December 31, 2018) non-interest bearing loan due in 2054 assumed in the FreightLink Acquisition with a carrying value of A$3.3 million (or $2.4 million at the exchange rate on December 31, 2018).

Schedule of Future Interest Expense Related to Amortization of Unamortized Debt Issuance Costs

As of December 31, 2018, the Company estimated the future interest expense related to amortization of its unamortized debt issuance costs will be as follows for the periods presented (dollars in thousands):

	Amount
2019	$	5,615
2020	5,495
2021	5,264
2022	2,643
2023	1,091
Total	$	20,108

Credit Agreement [Member]

Debt Instrument [Line Items]

Schedule of Debt

During the year ended December 31, 2018, the Company made prepayments of $120.0 million on its United States term loan and £25.0 million (or $32.8 million at the exchange rate at the time the payments were made) on its U.K. term loan, which were applied towards its future quarterly installments. As of December 31, 2018, the Company had the following amounts of term loans outstanding under the Credit Agreement (amounts in thousands, except percentages):

	Local Currency		United States Dollar Equivalent		Interest Rate
United States dollar	$	1,303,000	$	1,303,000	4.02	%
British pound	£	247,932	$	316,287	2.23	%

Line of Credit [Member]

Debt Instrument [Line Items]

Schedule of Debt

As of December 31, 2018, the Company had the following outstanding revolving loans under its revolving credit facility (amounts in thousands, except percentages):

	Local Currency		United States Dollar Equivalent		Interest Rate
Unites States dollar (revolver)	$	135,000	$	135,000	4.02	%
United States dollar (swingline loan)	$	10,000	$	10,000	6.00	%
British pound (revolver)	£	15,000	$	19,136	2.23	%

Australia Credit Agreement

Debt Instrument [Line Items]

Schedule of Debt

The loan began to amortize in quarterly installments commencing during the three months ended March 31, 2017, with the remaining principal balance payable upon maturity, as set forth below (amounts in thousands):

Quarterly Periods Ending	Principal Amount Due on Each Payment Date
March 31, 2019 through December 31, 2019	A$	5,437
March 31, 2020 through December 1, 2021	A$	8,563
Maturity date - December 1, 2021	A$	560,000

The Australian Credit Agreement requires the GWA Group to comply with certain financial covenants including a debt service coverage ratio and leverage ratio. The financial covenants are calculated for a period of 12 months ending on the calculation date. The debt service coverage ratio shall be equal to or greater than 1.20 to 1.00. The maximum leverage ratio of net senior debt to EBITDA, as defined in the agreement, is set forth in the following table:

Calculation date falling in the following period	Leverage Ratio
December 31, 2018	4.75 to 1.00
January 1, 2019 through December 31, 2020	4.50 to 1.00
January 1, 2021 through December 1, 2021	4.25 to 1.00

Schedule of Unused Borrowing Capacity Under Revolving Credit Facility

GWIA's availability to draw from the unused borrowing capacity is subject to covenant limitations as discussed below. As of December 31, 2018, GWIA had the following unused borrowing capacity under its revolving credit facility (amounts in thousands):

	2018
Total available borrowing capacity	A$	50,000
Outstanding letter of credit guarantees	A$	3,654
Unused borrowing capacity	A$	46,346