XML 57 R51.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Debt (Tables)
12 Months Ended
Dec. 31, 2019
Debt Disclosure [Abstract]  
Schedule of Long-term Debt

 
December 31,
(In millions)
2019
 
2018
 
 
 
 
Debt:
 
 
 
Short-term borrowings
 
 
 
Restricted cash borrowings (year-end weighted-average interest rate of 0.0% in 2019 and 0.0% in 2018(a)
$
10.3

 
10.5

Other (year-end weighted-average interest rate of 8.8% in 2019 and 10.1% in 2018)
4.0

 
18.4

Total short-term borrowings
$
14.3

 
28.9

 
 
 
 
Long-term debt
 
 
 
Bank credit facilities:
 
 
 
Term loan A (year-end effective interest rate of 3.5% in 2019 and 4.3% in 2018)
 
 
 
less unamortized issuance cost of $3.0 million in 2019 and $1.8 million in 2018
$
767.0

 
466.9

Senior unsecured notes (year-end effective interest rate of 4.6% in 2019 and 4.6% in 2018)
 
 
 
less unamortized issuance cost of $7.1 million in 2019 and $8.0 million in 2018
592.9

 
592.0

Revolving Credit Facility (year-end weighted average interest rate of 3.5% in 2019 and 4.2% in 2018)
115.0

 
340.0

Other primarily non-U.S. dollar-denominated facilities (year-end weighted-
 
 
 
average interest rate of 7.0% in 2019 and 4.8% in 2018)
4.9

 
5.7

Financing leases (year-end weighted-average interest rate of 4.9% in 2019 and 4.4% in 2018)
149.5

 
120.5

Total long-term debt
$
1,629.3

 
1,525.1

 
 
 
 
Total Debt
$
1,643.6

 
1,554.0

 
 
 
 
Included in:
 
 
 
Current liabilities
$
88.8

 
82.4

Noncurrent liabilities
1,554.8

 
1,471.6

Total debt
$
1,643.6

 
1,554.0



(a)
These 2019 and 2018 amounts are for short-term borrowings related to cash borrowed under lending arrangements used in the process of managing customer cash supply chains, which is currently classified as restricted cash and not available for general corporate purposes. See Note 20 for more details.
Schedule of Minimum Repayments of Long-term Debt
Minimum repayments of long-term debt are as follows:
(In millions)
Financing leases
 
Other long-term debt
 
Total
 
 
 
 
 
 
2020
$
32.5

 
42.0

 
74.5

2021
31.8

 
40.9

 
72.7

2022
28.2

 
41.0

 
69.2

2023
24.0

 
40.8

 
64.8

2024
17.4

 
725.2

 
742.6

Later years
15.6

 
600.0

 
615.6

Total
$
149.5

 
1,489.9

 
1,639.4


Schedule of Financing Lease Asset Classes
Property and equipment acquired under financing leases are included in property and equipment as follows:
 
December 31,
(In millions)
2019
 
2018
 
 
 
 
Asset class:
 
 
 
Buildings
$
4.1

 
2.2

Vehicles
267.5

 
212.4

Machinery and equipment
5.1

 
0.7

 
276.7

 
215.3

Less: accumulated amortization
(114.2
)
 
(91.3
)
Total
$
162.5

 
124.0