Long-term Debt (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Summary of Long-Term Debt

	June 30, 2020			December 31, 2019
	(In millions)
Term loan, bearing interest at variable rates (rate of 1.93% as of June 30, 2020), maturing in September 2023	$	319.4		$	328.1
Unamortized deferred financing costs	(1.5		)	(1.8		)
Total senior debt	317.9			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	(32.8		)	(37.0		)
Total convertible senior notes	267.2			263.0
Finance leases	46.5			47.7
Total other debt	46.5			47.7
Total debt, net of unamortized discount and deferred financing costs	631.6			637.0
Less: Amounts due within one year	(293.2		)	(284.7		)
Total long-term debt, net of unamortized discount and deferred financing costs	$	338.4		$	352.3

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

	June 30, 2020			December 31, 2019
Carrying value	$	267.2		$	263.0
Unamortized discount and deferred financing costs	32.8			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)	3.50			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 June 30,				Six months ended June 30,
	2020		2019		2020		2019
	(In millions)
Interest expense-contractual interest	$	1.7	$	1.7	$	3.4	$	3.4
Interest expense-amortization of debt discount	2.0		1.9		3.9		3.7
Interest expense-amortization of deferred financing costs	0.1		0.1		0.3		0.3