Debt

3 Months Ended

Mar. 31, 2021

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


	March 31, 2021			December 31, 2020
US Dollar notes under the 2012 Note Purchase Agreement	$	205.0		$	205.0
CHF notes (in dollars) under the 2019 Note Purchase Agreement		314.8			335.5
US Dollar notes under the 2019 Term Loan		300.0			300.0
Unamortized debt issuance costs		(2.3	)		(2.4	)
Capital lease obligations and other loans		6.7			6.4

Total debt		824.2			844.5
Current portion of long-term debt		(108.4	)		(2.2	)

Total long-term debt, less current portion	$	715.8		$	842.3

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, 2021 (in millions):


	Weighted Average Interest Rate			Total Amount Committed by Lenders		Outstanding Borrowings		Outstanding Letters of Credit		Total Committed Amounts Available
2019 Credit Agreement		1.3	%	$	600.0	$	—	$	0.2	$	599.8
Bank guarantees and working capital line		0.0	%		120.2		—		120.2		—

Total revolving lines of credit				$	720.2	$	—	$	120.4	$	599.8

As of March 31, 2021, the Company was in compliance with the financial covenants of all debt agreements.

As of March 31, 2021, the Company ha

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 unaudited consolidated statements of income and comprehensive income. As a result of entering into these agreements, the Company has lowered net interest expense by $1.4 million and $2.6 million during the three months ended March 31, 2021 and 2020, respectively. The gains (losses) related to hedges of net asset investments in international operations that were recorded within the cumulative translation adjustment section of other comprehensive income were

gains of

$27.7 million and $10.9 million for the three months ended March 31, 2021 and 2020, 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.