Long-term Debt (Tables)

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Summary of Long-Term Debt

	March 31, 2020			December 31, 2019
	(In millions)
Term loan, bearing interest at variable rates (rate of 2.74% as of March 31, 2020), maturing in September 2023	$	323.8		$	328.1
Unamortized deferred financing costs	(1.7		)	(1.8		)
Total senior debt	322.1			326.3
Convertible senior notes, bearing interest at 2.25% per annum, interest payments due in June and December, maturing in December 2023	300.0			300.0
Unamortized discount and deferred financing costs	(34.9		)	(37.0		)
Total convertible senior notes	265.1			263.0
Finance leases	47.1			47.7
Total other debt	47.1			47.7
Total debt, net of unamortized discount and deferred financing costs	634.3			637.0
Less: Amounts due within one year	(289.0		)	(284.7		)
Total long-term debt, net of unamortized discount and deferred financing costs	$	345.3		$	352.3

The following table summarizes information regarding the 2¼% Notes (in millions, except years, percentages, conversion rate, and conversion price):

	March 31, 2020			December 31, 2019
Carrying value	$	265.1		$	263.0
Unamortized discount and deferred financing costs	34.9			37.0
Principal amount	$	300.0		$	300.0
Carrying amount of equity component, net of equity issuance costs	$	54.5		$	54.5
Remaining amortization period (years)	3.75			4.0
Effective interest rate	5.8		%	5.8		%
Conversion rate (shares of common stock per $1,000 principal amount)	38.4615			38.4615
Conversion price (per share of common stock)	$	26.00		$	26.00

Schedule of Interest Expense components

The following table presents the interest expense components for the 2¼% Notes:

	Three months ended March 31,
	2020		2019
	(In millions)
Interest expense-contractual interest	$	1.7	$	1.7
Interest expense-amortization of debt discount	1.9		1.8
Interest expense-amortization of deferred financing costs	0.2		0.2