Long-Term Debt and Finance Leases (Tables)

12 Months Ended

Dec. 31, 2020

Long-Term Debt and Finance Leases

Summary of long-term debt and finance leases

							December 31,
	December 31, 2020						2019
	Available
	borrowing		Effective		Outstanding		Outstanding
	capacity		interest rate(1)		balance		balance
	(in millions)
Long-term debt:
Term B Loans, net(2)	$	—	5.28	%	$	2,199.9	$	2,220.3
Revolving Credit Facility(3)		256.6	3.15	%		38.0		55.0
Total long-term debt	$	256.6				2,237.9		2,275.3
Other Financing						0.8		—
Finance lease obligations						32.9		23.1
Total long-term debt, finance lease obligations and other						2,271.6		2,298.4
Debt issuance costs, net(4)						(5.6)		(8.0)
Sub-total						2,266.0		2,290.4
Less current portion						(37.5)		(30.9)
Long-term portion					$	2,228.5	$	2,259.5

(1) Represents the effective interest rate in effect for all borrowings outstanding as of the year ended December 31, 2020 pursuant to each debt instrument including the applicable margin.

(2) At December 31, 2020 and 2019 includes $6.1 million and $8.4 million of net unamortized discounts, respectively.

(3) Available borrowing capacity at December 31, 2020 represents $300.0 million of total availability less borrowings of $38.0 million on the Revolving Credit Facility and outstanding letters of credit of $5.4 million. The aggregate amount of letters of credit cannot exceed $40 million and are used in the ordinary course of business and released when the respective contractual obligations have been fulfilled by the Company.

(4)   At December 31, 2020 and 2019, debt issuance costs include $4.4 million and $6.0 million related to Term B Loans and $1.2 million and $2.0 million related to the Revolving Credit Facility, respectively.

Schedule of amortization of debt issuance costs and accretion of debt premium and discount

Amortization of debt issuance costs and debt discount, all of which are included in interest expense in the accompanying consolidated statements of operations, for the years ended December 31, 2020, 2019 and 2018, are as follows:

	December 31,
	2020		2019		2018
	(in millions)
Amortization of deferred issuance costs	$	2.4	$	2.4	$	2.4
Amortization of debt discount		2.3		2.3		2.3

Schedule of maturities of long-term debt, excluding capital lease obligations

Maturities of long-term debt, excluding finance lease obligations, as of December 31, 2020 are as follows:

	Long-term
	Debt
	(in millions)
2021	$	22.8
2022		60.8
2023		2,154.3
Thereafter		—
	$	2,237.9