XML 70 R61.htm IDEA: XBRL DOCUMENT v3.22.4
LONG-TERM DEBT - Narrative (Details)
$ in Thousands
1 Months Ended 3 Months Ended 12 Months Ended
Dec. 31, 2022
USD ($)
step_down
Jan. 24, 2022
USD ($)
Jul. 31, 2018
GBP (£)
Jul. 31, 2016
AUD ($)
Nov. 30, 2012
Dec. 31, 2022
USD ($)
option
step_down
Dec. 31, 2022
AUD ($)
option
Jun. 30, 2022
USD ($)
Dec. 31, 2022
USD ($)
step_down
Dec. 31, 2020
USD ($)
Dec. 31, 2022
CAD ($)
step_down
Dec. 31, 2022
AUD ($)
step_down
Dec. 31, 2022
GBP (£)
step_down
Sep. 30, 2022
USD ($)
Dec. 09, 2021
USD ($)
Dec. 30, 2020
USD ($)
Aug. 03, 2020
USD ($)
Jun. 22, 2020
Debt Instrument [Line Items]                                    
Repurchase of debt instrument, discount rate 91.82%         91.82%     91.82%   91.82% 91.82% 91.82%          
Debt outstanding $ 1,541,416,000         $ 1,541,416,000     $ 1,541,416,000         $ 1,595,560,000        
Basis spread on variable rate         1.30%                          
Debt instrument, number of interest rate step-downs | step_down 2         2     2   2 2 2          
Long-term debt $ 1,520,521,000         $ 1,520,521,000     $ 1,520,521,000         $ 1,573,651,000        
Ocala, Florida                                    
Debt Instrument [Line Items]                                    
Lessee, finance Lease, discount rate 5.60%         5.60%     5.60%   5.60% 5.60% 5.60%          
Number of option to extend | option           2 2                      
Lease renewal term 5 years         5 years     5 years   5 years 5 years 5 years          
Troy, Ohio                                    
Debt Instrument [Line Items]                                    
Lessee, finance Lease, discount rate 5.00%         5.00%     5.00%   5.00% 5.00% 5.00%          
Lessee, finance lease buyout amount $ 1         $ 1     $ 1                  
Term Loan | Northcote Holdings Pty. Ltd                                    
Debt Instrument [Line Items]                                    
Repayments of debt             $ 9,625,000                      
Long-term debt                       $ 18,375,000            
Term Loan | Ames UK                                    
Debt Instrument [Line Items]                                    
Face amount | £     £ 14,000,000                              
Debt instrument, periodic payment, principal | £     438,000                              
Periodic payment terms, balloon payment to be paid | £     £ 7,088,000                              
Revolver due 2025                                    
Debt Instrument [Line Items]                                    
Maximum borrowing capacity   $ 400,000                                
Maximum borrowing capacity, accordion feature                             $ 100,000,000      
Maximum percentage of equity interest of subsidiaries borrowings guaranteed                 65.00%                  
Outstanding standby letters of credit 12,287,000         12,287,000     $ 12,287,000                  
Remaining borrowing capacity $ 342,613,000         $ 342,613,000     $ 342,613,000                  
Revolver Due 2025, SOFR Loan                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate                 1.50%                  
Debt instrument, interest rate, effective percentage 5.91%         5.91%     5.91%   5.91% 5.91% 5.91%          
Revolver Due 2025, SONIA Loan                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate                 1.50%                  
Debt instrument, interest rate, effective percentage 4.96%         4.96%     4.96%   4.96% 4.96% 4.96%          
Mortgages | SONIA | Ames UK                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate     1.80%                              
Revolving Credit Facility | Northcote Holdings Pty. Ltd                                    
Debt Instrument [Line Items]                                    
Maximum borrowing capacity       $ 20,000,000                            
Line of credit facility, cancelled                       $ 20,000,000            
Revolving Credit Facility | Ames UK                                    
Debt Instrument [Line Items]                                    
Face amount | £     £ 5,000,000                              
Long-term debt $ 0         $ 0     $ 0                  
Long-term line of credit, revolver outstanding balance $ 0         0     0                  
Revolving Credit Facility | SONIA | Ames UK                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate 6.75%   3.25%                              
Term and Mortgage Loans | Ames UK                                    
Debt Instrument [Line Items]                                    
Long-term debt $ 12,663,000         12,663,000     12,663,000       £ 10,519,000          
Letter of Credit Subfacility | Revolver due 2025                                    
Debt Instrument [Line Items]                                    
Maximum borrowing capacity                             100,000,000      
Multicurrency Subfacility | Revolver due 2025                                    
Debt Instrument [Line Items]                                    
Maximum borrowing capacity                             $ 200,000,000      
Receivables Purchase Facility | Northcote Holdings Pty. Ltd                                    
Debt Instrument [Line Items]                                    
Maximum borrowing capacity                       15,000,000            
Remaining borrowing capacity $ 10,134,000         $ 10,134,000     $ 10,134,000     $ 15,000,000            
Debt instrument, interest rate, effective percentage 4.51%         4.51%     4.51%   4.51% 4.51% 4.51%          
Long-term line of credit $ 0         $ 0     $ 0                  
Receivables Purchase Facility | Bank Bill Swap Rate | Northcote Holdings Pty. Ltd                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate       1.25%                            
Senior notes due 2028                                    
Debt Instrument [Line Items]                                    
Face amount                               $ 1,000,000,000    
Debt instrument, interest rate, stated percentage 5.75%         5.75%     5.75%   5.75% 5.75% 5.75% 5.75%       5.75%
Capitalized debt issuance costs                                 $ 16,448,000  
Debt instrument, repurchased face amount $ 25,225,000,000         $ 25,225,000,000     $ 25,225,000,000                  
Debt instrument, repurchase amount 23,161,000,000         23,161,000,000     23,161,000,000                  
Gain on repurchase of debt instrument           1,767,000                        
Gain (loss) on extinguishment of debt, before write off of debt issuance cost           2,064,000                        
Write off of debt issuance costs           297,000                        
Debt outstanding 974,775,000         974,775,000     974,775,000         $ 974,775,000        
Debt issuance fees and expenses, net 10,434,000         10,434,000     10,434,000                  
Long-term debt 964,595,000         964,595,000     964,595,000         964,102,000        
Senior notes due 2028 | Fair Value, Inputs, Level 1                                    
Debt Instrument [Line Items]                                    
Senior note, fair value disclosure 877,298,000         877,298,000     877,298,000                  
Senior notes due 2022                                    
Debt Instrument [Line Items]                                    
Repayments of debt                   $ 1,000,000,000                
Debt instrument, interest rate, stated percentage                                   5.25%
Senior Notes                                    
Debt Instrument [Line Items]                                    
Debt outstanding 974,775,000         974,775,000     974,775,000                  
Non US lines of credit                                    
Debt Instrument [Line Items]                                    
Debt outstanding 0         0     0         0        
Maximum borrowing capacity 11,072,000         11,072,000     11,072,000   $ 15,000              
Long-term debt $ (4,000)         $ (4,000)     $ (4,000)         (2,000)        
Non US lines of credit | CDOR                                    
Debt Instrument [Line Items]                                    
Interest rate at period end 6.04%         6.04%     6.04%   6.04% 6.04% 6.04%          
Non US lines of credit | Bankers Acceptance Rate                                    
Debt Instrument [Line Items]                                    
Interest rate at period end 5.79%         5.79%     5.79%   5.79% 5.79% 5.79%          
Mortgages | Ames UK                                    
Debt Instrument [Line Items]                                    
Face amount | £     £ 4,000,000                              
Debt instrument, periodic payment, principal | £     105,000                              
Interest rate at period end 5.23%         5.23%     5.23%   5.23% 5.23% 5.23%          
Periodic payment terms, balloon payment to be paid | £     £ 2,349,000                              
Term Loan | Term Loan B due 2029                                    
Debt Instrument [Line Items]                                    
Face amount   800,000,000                                
Capitalized debt issuance costs   $ 15,466,000                                
Debt issuance fees and expenses, net $ 8,472,000         $ 8,472,000     $ 8,472,000                  
Secured overnight financing rate floor   0.00005%                                
Debt instrument, issuance price (in percentage)   99.75%                                
Debt instrument, periodic payment, principal           2,000,000                        
Debt redeemed               $ 300,000,000                    
Debt extinguishment, net           (6,296,000)                        
Write off of deferred debt issuance cost, underwriting and other fees           5,575,000                        
Write off of deferred debt issuance cost, original issuer discount           $ 721,000                        
Debt instrument, interest rate, effective percentage 7.01%         7.01%     7.01%   7.01% 7.01% 7.01%          
Term Loan | Term Loan B due 2029 | Secured Overnight Financing Rate                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate   0.00025%                                
Term Loan B due 2029                                    
Debt Instrument [Line Items]                                    
Debt outstanding $ 494,000,000         $ 494,000,000     $ 494,000,000         496,000,000        
Long-term debt 484,427,000         484,427,000     484,427,000         $ 486,033,000        
Term Loan B due 2029 | Fair Value, Inputs, Level 1                                    
Debt Instrument [Line Items]                                    
Senior note, fair value disclosure $ 485,355,000         $ 485,355,000     $ 485,355,000