Debt

3 Months Ended

Mar. 31, 2020

Debt

Debt

10.  Debt

The Company’s debt obligations as of March 31, 2020 and December 31, 2019 consisted of the following (dollars in millions):

	March 31,		December 31,
	2020		2019
US Dollar notes under the 2012 Note Purchase Agreement	$	205.0	$	205.0
CHF Dollar notes under the 2019 Note Purchase Agreement		307.7		306.8
US Dollar notes under the 2019 Term Loan		300.0		300.0
US Dollar under the 2019 Revolving Credit Agreement		196.3		—
Unamortized debt issuance costs		(2.5)		(2.6)
Capital lease obligations and other loans		4.1		4.1
Total debt		1,010.6		813.3
Current portion of long-term debt		(95.8)		(0.5)
Total long-term debt, less current portion	$	914.8	$	812.8

The following is a summary of the maximum commitments and the net amounts available to the Company under its credit agreements 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, 2020 (in millions):

	Weighted		Total Amount				Outstanding
	Average		Committed by		Outstanding		Letters of		Total Amount
	Interest Rate		Lenders		Borrowings		Credit		Available
2019 Credit Agreement	1.3	%	$	600.0	$	196.3	$	0.3	$	403.4
Other lines of credit	0.0	%		245.3		—		133.5		111.8
Total revolving lines of credit			$	845.3	$	196.3	$	133.8	$	515.2

As of March 31, 2020, the Company was in compliance with the financial covenants of all debt agreements.

As of March 31, 2020, the Company has entered into several cross-currency and interest rate swap agreements with a notional value of $150.0 million of U.S. to Swiss Franc and a notional value of $355.0 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 change 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 has lowered net interest expense by $2.6 million during the three months ended March 31, 2020. The gains (losses) related to hedges of net asset investments in international operations that were recorded within the cumulative translational adjustment section of other comprehensive income were $10.9 million for the three months ended March 31, 2020. The Company did not have any cross-currency and interest rate swap agreements for the three months ended March 31, 2019. 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.