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DEBT (Tables)

12 Months Ended

Dec. 31, 2022

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


In millions
	2022		2021
$1.2 billion Credit Facility, due in 2026	$	154.1	$	247.0
$200 million term loan, due in 2026	200.0		200.0
$600 million Senior Notes, due in 2024	600.0		600.0
$500 million Senior Notes, due in 2029	500.0		500.0
Promissory notes and deferred consideration, weighted average maturity of 3.4 years and 3.7 years for 2022 and 2021, respectively (Note 4)	44.7		54.6
Foreign bank debt, weighted average maturity of 5.0 years for 2022 and 6.0 years for 2021	0.4		0.7
Obligations under finance leases (Note 6)	18.2		21.4
Total debt	1,517.4		1,623.7
Less: current portion of total debt	22.3		19.9
Less: unamortized debt issuance costs	11.1		14.0
Long-term portion of total debt	$	1,484.0	$	1,589.8

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 were as follows:


	December 31,
	2022		2021
$1.2 billion Credit Facility, due in 2026 (variable rate)	5.92	%	1.76	%
$200 million term loan, due in 2026 (variable rate)	5.88	%	1.40	%
$600 million Senior Notes, due in 2024 (fixed rate)	5.38	%	5.38	%
$500 million Senior Notes, due in 2029 (fixed rate)	3.88	%	3.88	%
Promissory notes and deferred consideration (fixed rate)	3.49	%	3.19	%
Foreign bank debt (fixed rate)	9.80	%	9.80	%

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

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


In millions
	December 31,
	2022		2021
Outstanding stand-by letters of credit under Senior Credit Facility	$	60.1	$	71.4
Unused portion of the Revolving Credit Facility	985.7		881.5

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, 2022, are as follows:


In millions
2023	$	19.4
2024	617.2
2025	12.9
2026	349.1
2027	0.5
Thereafter	500.0
Total	$	1,499.1

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details