Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt at December 31, 2020 and 2019 consisted of the following:

	2020			2019
Borrowings under the ABL Credit Facility	$	—		$	42.0
7.625% notes due June 15, 2020		—			65.8
7.875% notes due March 15, 2021		—			167.1
8.875% debentures due April 15, 2021		55.6			60.2
7.000% notes due February 15, 2022		79.3			140.0
6.500% notes due November 15, 2023		75.0			290.6
Term Loan due January 15, 2024 ^(a)		535.8			540.3
6.000% notes due April 1, 2024		61.7			298.3
8.250% notes due July 1, 2027		245.8			—
6.625% debentures due April 15, 2029		103.4			157.9
8.500% notes due April 15, 2029		301.6			—
8.820% debentures due April 15, 2031		54.5			69.0
Unamortized debt issuance costs		(9.6	)		(12.8	)
Total debt		1,503.1			1,818.4
Less: current portion		61.1			71.2
Long-term debt	$	1,442.0		$	1,747.2

(a)

As of December 31, 2020 and 2019, the interest rate on the Term Loan due January 15, 2024 was 5.15% and 6.80%, respectively.

At December 31, 2020, the future maturities of debt were as follows:

(a)	Excludes unamortized debt issuance costs of $9.6 million and $19.2 million of bond discount which do not represent contractual commitments with a fixed amount or maturity date.

The following table summarizes interest expense included in the Consolidated Statements of Operations:

	2020		2019		2018
Interest incurred	$	138.6	$	155.7	$	173.8
Less: interest income		1.5		2.7		4.2
Less: interest capitalized as property, plant and equipment		2.0		2.4		1.3
Interest expense, net	$	135.1	$	150.6	$	168.3