XML 37 R19.htm IDEA: XBRL DOCUMENT v3.21.1
Indebtedness
 3 Months Ended
Apr. 03, 2021
Debt Disclosure [Abstract]  
Indebtedness INDEBTEDNESS
    Total borrowings outstanding are summarized as follows (in millions):
April 3,
2021		December 31,
2020
Term loan
2019 Term loan due August 15, 2022$600.0 $600.0 
Notes and Bonds
CouponDue
5.105%
July 28, 2023(1)
158.8 164.9 
4.000%November 15, 2023215.6 215.6 
3.900%December 15, 2024700.0 700.0 
4.375%March 15, 2026700.0 700.0 
3.150%June 15, 2030750.0 750.0 
5.300%November 15, 204390.5 90.5 
4.900%December 15, 2044303.9 303.9 
Total notes and bonds2,918.8 2,924.9 
Other financing60.1 57.4 
Unamortized premium (discount), net(1.5)(0.3)
Deferred financing fees(16.3)(17.1)
Total borrowings outstanding3,561.1 3,564.9 
Current indebtedness(35.8)(37.3)
Total long-term debt less current portion$3,525.3 $3,527.6 

    (1) Debt denominated in euros subject to fluctuations in the euro-to-U.S. dollar exchange rate.
    
    We are in compliance with all covenants under our debt agreements as of April 3, 2021.

Revolving Credit Agreements

    On March 8, 2018, we entered into a $1.0 billion revolving credit agreement maturing on March 8, 2023 (the "2018 Revolver"). There were no borrowings outstanding under the 2018 Revolver as of April 3, 2021 or December 31, 2020.

Other Financing

    We have overdraft facilities available that we use to support our cash management operations. We report any balances outstanding in the above table under "Other financing". There were no borrowings outstanding under the facilities as of April 3, 2021 or December 31, 2020.
    
    On June 17, 2020, we incurred debt of $34.3 million related to our equity method investment in Kazmira pursuant to two Promissory Notes, with $3.7 million, $5.8 million and $24.8 million to be settled in November 2020, May 2021 and November 2021, respectively. On December 8, 2020, we repaid the $3.7 million balance due on the November 2020 portion of the Promissory Notes.

    We have financing leases that are reported in the above table under "Other financing" (refer to Note 10).