Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Debt

	As of December 31,
	2021		2020
	(In millions)
Senior debt	$	281.4	$	307.1
Convertible senior notes	136.5		271.6
Finance leases (see Note 4)	43.4		45.6
Total debt, carrying amount	461.3		624.3
Less: Amounts due within one year	(166.7)		(299.9)
Total long-term debt, carrying amount	$	294.6	$	324.4

Senior Debt

	As of December 31,
	2021		2020
	(In millions)
Term loan, bearing interest at variable rates (rate of 1.85% as of December 31, 2021), maturing in September 2023	$	282.2	$	308.5
Unamortized deferred financing costs	(0.8)		(1.4)
Total senior debt	$	281.4	$	307.1

Convertible Senior Notes

	As of December 31,
	2021		2020
	(In millions)
Senior convertible notes, bearing interest at 2.25% per annum, interest payments due in June and December, maturing in December 2023	$	145.9	$	300.0
Unamortized discount and deferred financing costs	(9.4)		(28.4)
Total convertible senior notes	$	136.5	$	271.6

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

	As of December 31,
	2021			2020
Carrying value	$	136.5		$	271.6
Unamortized discount and deferred financing costs	9.4			28.4
Principal amount	$	145.9		$	300.0
Carrying amount of equity component, net of equity issuance costs	$	—		$	54.5
Remaining amortization period (years)	2.0			3.0
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

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

	Year Ended December 31,
	2021		2020		2019
	(In millions)
Interest expense-contractual interest	$	3.3	$	6.8	$	6.8
Interest expense-amortization of debt discount	4.3		7.9		7.5
Interest expense-amortization of deferred financing costs	0.4		0.6		0.6

Schedule of Maturities of Long-Term Debt

The following table presents as of December 31, 2021, the earlier of the Company’s contractual debt principal maturities excluding finance lease obligations (see Note 4):

	Total		2022		2023
	(In millions)
Senior debt	$	282.2	$	28.4	$	253.8
Convertible senior notes	145.9		145.9		—
	$	428.1	$	174.3	$	253.8