Debt

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Debt

Debt

The following table summarizes our long-term debt obligations, net of unamortized debt issuance costs and current maturities. The interest rates shown in parentheses are as of September 30, 2021.

($ in millions)	September 30, 2021		December 31, 2020
Term Loan, due December 31, 2024 (1.01%)	$	86.6	$	87.7
Series A notes, due July 5, 2022 (3.67%)	42.0		42.0
Series B notes, due July 5, 2024 (3.82%)	53.0		53.0
Series C notes, due July 5, 2027 (4.02%)	73.0		73.0
	254.6		255.7
Less: unamortized debt issuance costs	0.5		0.5
Total debt	254.1		255.2
Less: current portion of long-term debt	44.2		2.3
Long-term debt, net	$	209.9	$	252.9

Please refer to Note 8, Debt, to the consolidated financial statements in our 2020 Annual Report for additional details regarding our debt agreements.

Credit Agreement - Credit Facility

At September 30, 2021, the borrowing capacity available under our $300.0 million multi-currency revolving credit facility (the “Credit Facility”), including outstanding letters of credit of $2.4 million, was $297.6 million.

Credit Agreement Amendment - Term Loan

At September 30, 2021, we had $86.6 million in borrowings under the Term Loan, of which $2.2 million was classified as current and $84.4 million was classified as long-term. Please refer to Note 9, Derivative Financial Instruments, for a discussion of the foreign currency hedge associated with the Term Loan.