DEBT (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-term debt consisted of the following at December 31:

In millions
	2019		2018
$1.2 billion senior credit facility, due in 2022	$	758.7	$	583.3
$1.3 billion term loan, due in 2022		1,172.2		902.5
$600 million Senior Notes, due in 2024		600.0		-
$125 million private placement notes, due in 2019 (repaid in June 2019, see below)		-		125.0
$225 million private placement notes, due in 2020 (repaid in June 2019, see below)		-		225.0
$150 million private placement notes, due in 2021 (repaid in June 2019, see below)		-		150.0
$125 million private placement notes, due in 2022 (repaid in June 2019, see below)		-		125.0
$200 million private placement notes, due in 2022 (repaid in June 2019, see below)		-		200.0
$100 million private placement notes, due in 2023 (repaid in June 2019, see below)		-		100.0
$150 million private placement notes, due in 2023 (repaid in June 2019, see below)		-		150.0
Promissory notes and deferred consideration, weighted average maturity of 2.49 and 2.74 years for 2019 and 2018		73.1		120.9
Foreign bank debt, weighted average maturity of 1.6 years for 2019 and 1.9 years for 2018		42.2		76.7
Obligations under finance leases (Note 6)		30.4		20.3
Total debt		2,676.6		2,778.7
Less: current portion of total debt		103.1		104.3
Less: unamortized debt issuance costs		14.2		10.5
Long-term portion of total debt	$	2,559.3	$	2,663.9

Schedule of Weighted Average Interest Rates on Long-term Debt Excluding Finance Leases

The weighted average interest rates on long-term debt, excluding finance leases, as of December 31, 2019 and 2018 were as follows:

	2019			2018
$1.2 billion senior credit facility, due in 2022 (variable rate based on LIBOR)		3.57	%		3.77	%
$1.3 billion term loan, due in 2022 (variable rate based on LIBOR)		3.44	%		4.07	%
$600 million Senior Notes, due in 2024 (fixed rate)		5.38	%		–
$125 million private placement notes, due in 2019		–			3.43	%
$225 million private placement notes, due in 2020		–			5.22	%
$150 million private placement notes, due in 2021		–			3.64	%
$125 million private placement notes, due in 2022		–			4.01	%
$200 million private placement notes, due in 2022		–			3.47	%
$100 million private placement notes, due in 2023		–			3.54	%
$150 million private placement notes, due in 2023		–			3.93	%
Promissory notes and deferred consideration (fixed rate)		1.81	%		1.79	%
Foreign bank debt (variable rate)		4.43	%		5.81	%

Schedule of Outstanding Letters of Credit and Unused Portion of Senior Credit Facility

Other Matters

Amounts committed to outstanding letters of credit and the unused portion of our Senior Credit Facility at December 31 were as follows:

In millions
	2019		2018
Outstanding letters of credit under Senior Credit Facility	$	33.0	$	63.1
Unused portion of the Revolving Credit Facility		408.3		553.6

Payments due on Long-Term Debt, Excluding Finance Lease Obligations

Payments due on long-term debt, excluding finance lease obligations, during each of the five years subsequent to December 31, 2019 are as follows:

In millions
2020	$	98.0
2021		126.7
2022		1,809.9
2023		5.1
2024		605.2
Thereafter		1.3
Total	$	2,646.2