Long-Term Debt and Finance Leases (Tables)

6 Months Ended

Jun. 30, 2019

Long-Term Debt and Finance Leases

Summary of long-term debt and finance leases

							December 31,
	June 30, 2019						2018
	Available
	borrowing		Effective		Outstanding		Outstanding
	capacity		interest rate (1)		balance		balance
	(in millions)
Long-term debt:
Term B Loans, net(2)	$	—	5.84	%	$	2,230.6	$	2,240.9
Revolving Credit Facility(3)		229.5	5.40	%		65.0		60.0
Total long-term debt	$	229.5				2,295.6		2,300.9
Finance lease obligations						12.1		5.1
Total long-term debt and finance lease obligations						2,307.7		2,306.0
Debt issuance costs, net(4)						(9.3)		(10.5)
Sub-total						2,298.4		2,295.5
Less current portion						(26.9)		(24.1)
Long-term portion					$	2,271.5	$	2,271.4

(1) Represents the effective interest rate in effect for all borrowings outstanding as of June 30, 2019 pursuant to each debt instrument including the applicable margin.

(2) At June 30, 2019 includes $9.5 million of net discounts.

(3) Available borrowing capacity at June 30, 2019 represents $300.0 million of total availability less borrowing of $65.0 million on the Revolving Credit Facility and outstanding letters of credit of $5.5 million. Letters of credit are used in the ordinary course of business and are released when the respective contractual obligations have been fulfilled by the Company.

(4) At June 30, 2019, debt issuance costs include $6.9 million related to Term B Loans and $2.4 million related to the Revolving Credit Facility.