Debt

3 Months Ended

Mar. 31, 2022

Debt

Debt

7.Debt

The Company’s debt obligations consist of the following (in millions):

	March 31, 2022			December 31, 2021
EUR notes (in U.S. dollars) under the 2021 Note Purchase Agreement	$	166.3		$	170.7
CHF notes (in U.S. dollars) under the 2021 Note Purchase Agreement		325.4			329.2
CHF notes (in U.S. dollars) under the 2019 Note Purchase Agreement		322.2			325.9
U.S. Dollar notes under the 2019 Term Loan		298.5			299.2
U.S. Dollar notes under the 2012 Note Purchase Agreement		100.0			205.0
Unamortized debt issuance costs		(1.9	)		(2.0	)
Other loans		1.8			1.9
Total notes and loans outstanding		1,212.3			1,329.9
Finance lease obligations		4.1			4.3
Total debt		1,216.4			1,334.2
Current portion of long-term debt		(11.0	)		(112.4	)
Total long-term debt, less current portion	$	1,205.4		$	1,221.8

The following is a summary of the maximum commitments and the net amounts available to the Company under the 2019 Revolving Credit Agreement and other lines of credit with various financial institutions located primarily in Germany and Switzerland that are unsecured and typically due upon demand with interest payable monthly, at March 31, 2022 (in millions):

	Weighted Average Interest Rate			Total Amount Committed by Lenders		Outstanding Borrowings		Outstanding Letters of Credit		Total Amount Available
2019 Credit Agreement		1.3	%	$	600.0	$	—	$	0.1	$	599.9
Bank guarantees and working capital line	varies				110.3		—		110.3		—
Total revolving lines of credit				$	710.3	$	—	$	110.4	$	599.9

As of March 31, 2022, the Company was in compliance with the financial covenants of all debt agreements.

As of March 31, 2022, the Company had several cross-currency and interest rate swap agreements with a notional value of $149.3 million of U.S. to Swiss Franc and a notional value of $249.3 million of U.S. to Euro to hedge the variability in the movement of foreign currency exchange rates on portions of our Euro and Swiss Franc denominated net asset investments. These agreements qualify for hedge accounting and accordingly the changes in fair value of the derivative are recorded in other comprehensive income as part of foreign currency translation adjustments and remain in accumulated comprehensive income (loss) attributable to Bruker Corporation in shareholders’ equity until the sale or substantial liquidation of the foreign operation. The difference between the interest rate received and paid under the interest rate and cross-currency swap agreements is recorded in interest and other income (expenses) in the consolidated statements of income and comprehensive income. As a result of entering into these agreements, the Company lowered net interest expense by $1.1 million and $1.4 million during the three months ended March 31, 2022 and 2021, respectively. The Company presents the cross-currency swap periodic settlements in investing activities and the interest rate swap periodic settlements in operating activities in the statement of cash flows.