XML 71 R62.htm IDEA: XBRL DOCUMENT v3.23.1
LONG-TERM DEBT - Narrative (Details)
$ in Thousands
1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Dec. 31, 2022
Jan. 24, 2022
USD ($)
Jul. 31, 2018
GBP (£)
Jul. 31, 2016
AUD ($)
Nov. 30, 2012
Mar. 31, 2023
USD ($)
lease
Mar. 31, 2023
AUD ($)
Sep. 30, 2022
USD ($)
Mar. 31, 2023
USD ($)
option
lease
Dec. 31, 2022
Dec. 31, 2020
USD ($)
Mar. 31, 2023
CAD ($)
lease
Mar. 31, 2023
AUD ($)
lease
Mar. 31, 2023
GBP (£)
lease
Mar. 01, 2023
AUD ($)
Feb. 28, 2023
AUD ($)
Dec. 09, 2021
USD ($)
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%            
Debt outstanding           $ 1,527,168,000   $ 1,595,560,000 $ 1,527,168,000                      
Basis spread on variable rate         1.30%                              
Long-term debt           $ 1,507,284,000   $ 1,573,651,000 $ 1,507,284,000                      
Ocala, Florida                                        
Debt Instrument [Line Items]                                        
Number of finance leases outstanding | lease           1     1     1 1 1            
Lessee, finance Lease, discount rate           5.60%     5.60%     5.60% 5.60% 5.60%            
Number of option to extend | option                 2                      
Lease renewal term           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%            
Lessee, finance lease buyout amount           $ 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           12,807,000     12,807,000                      
Remaining borrowing capacity           $ 356,313,000     $ 356,313,000                      
Revolver Due 2025, SONIA Loan                                        
Debt Instrument [Line Items]                                        
Basis spread on variable rate                   1.50%                    
Debt instrument, interest rate, effective percentage           5.71%     5.71%     5.71% 5.71% 5.71%            
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 line of credit, revolver outstanding balance           $ 0     $ 0                      
Revolving Credit Facility | SONIA | Ames UK                                        
Debt Instrument [Line Items]                                        
Basis spread on variable rate 7.50%   3.25%                                  
Term and Mortgage Loans | Ames UK                                        
Debt Instrument [Line Items]                                        
Long-term debt | £                           £ 9,977,000            
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   $ 30,000 $ 15,000,000        
Remaining borrowing capacity           $ 20,094,000     $ 20,094,000       $ 30,000,000              
Debt instrument, interest rate, effective percentage           4.88%     4.88%     4.88% 4.88% 4.88%            
Long-term line of credit           $ 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%
Capitalized debt issuance costs                                     $ 16,448,000  
Debt instrument, repurchased face amount           $ 25,225,000,000     $ 25,225,000,000                      
Debt instrument, repurchase amount           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                      
Debt issuance fees and expenses, net           9,930,000     9,930,000                      
Long-term debt           965,087,000   964,102,000 965,087,000                      
Senior notes due 2028 | Fair Value, Inputs, Level 1                                        
Debt Instrument [Line Items]                                        
Senior note, fair value disclosure           901,667,000     901,667,000                      
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                      
Non US lines of credit                                        
Debt Instrument [Line Items]                                        
Debt outstanding           2,924,000   0 2,924,000         £ 2,368,000            
Maximum borrowing capacity           11,076,000     11,076,000     $ 15,000                
Long-term debt           $ 2,913,000   (2,000) $ 2,913,000                      
Non US lines of credit | CDOR                                        
Debt Instrument [Line Items]                                        
Interest rate at period end           6.25%     6.25%     6.25% 6.25% 6.25%            
Non US lines of credit | Bankers Acceptance Rate                                        
Debt Instrument [Line Items]                                        
Interest rate at period end           6.00%     6.00%     6.00% 6.00% 6.00%            
Mortgages | Ames UK                                        
Debt Instrument [Line Items]                                        
Face amount | £     £ 4,000,000                                  
Debt instrument, periodic payment, principal | £     105,000                                  
Interest rate at period end           5.98%     5.98%     5.98% 5.98% 5.98%            
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           $ 8,120,000     $ 8,120,000                      
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           7.55%     7.55%     7.55% 7.55% 7.55%            
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           $ 492,000,000   496,000,000 $ 492,000,000                      
Long-term debt           482,822,000   $ 486,033,000 482,822,000                      
Term Loan B due 2029 | Fair Value, Inputs, Level 1                                        
Debt Instrument [Line Items]                                        
Senior note, fair value disclosure           $ 489,540,000     $ 489,540,000