Debt and Credit Arrangements (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Summary of Outstanding Borrowings and Costs

The following table represents the components of our borrowings:

	December 31,
	2020		2019
Senior secured revolving credit facilities and term loan:
Term loan due June 2024 (1)	$	103.1	$	447.2
Senior secured revolving credit facility due June 2024 (2)	123.5		119.0
Unamortized debt issuance costs	(5.0)		(5.5)
Senior secured revolving credit facility and term loan, net of debt issuance costs	221.6		560.7
Convertible notes due November 2024:
Principal amount	258.8		258.8
Unamortized discount	(34.8)		(42.8)
Unamortized debt issuance costs	(3.1)		(3.8)
Convertible notes due November 2024, net of unamortized discount and debt issuance costs	220.9		212.2
Foreign facilities	—		4.4
Total debt, net of unamortized discount and debt issuance costs	442.5		777.3
Less: current maturities (3)	220.9		16.3
Long-term debt	$	221.6	$	761.0

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(1)As of December 31, 2020, there was $103.1 in borrowings outstanding under the term loan bearing an interest rate of 2.50%.

(2)The senior secured revolving credit facility due 2024 includes $100.0 sub limit for letters of credit, a $250.0 sub limit for discretionary letters of credit and a $50.0 sub-limit for swingline loans. As of December 31, 2020, there was $123.5 in borrowings outstanding under the senior secured revolving credit facility due 2024 bearing a weighted-average interest rate of 2.1% and $63.3 in letters of credit and bank guarantees outstanding supported by the senior secured revolving credit facility due 2024. As of December 31, 2020, the senior secured revolving credit facility due 2024 had availability of $363.2.

(3)Current maturities includes $220.9 current convertible notes at December 31, 2020

Schedule of Interest Expense and Financing Cost Amortization

The following table summarizes interest expense and financing costs amortization related to the 2024 Credit Facilities and our previous senior secured revolving credit facility:

	Year Ended December 31,
	2020		2019		2018
Interest expense, term loan due June 2024	$	4.8	$	3.1	$	—
Interest expense, senior secured revolving credit facilities	2.2		2.2		11.8
Interest expense, senior secured revolving credit facilities and term loan due June 2024	$	7.0	$	5.3	$	11.8
Financing costs amortization, senior secured revolving credit facilities and term loan due 2024	$	3.6	$	2.0	$	0.6

Schedule of Interest Accretion, Loss on Extinguishment, and Amortization of Financing Costs

The following table summarizes interest accretion of the 2024 Notes discount, 1.0% contractual interest coupon and financing costs amortization associated with the 2024 Notes:

	Year Ended December 31,
	2020		2019
2024 Notes, interest accretion of convertible notes discount	$	8.0	$	7.6
2024 Notes, 1.0% contractual interest coupon	2.6		2.6
2024 Notes, total interest expense	$	10.6	$	10.2
2024 Notes, financing costs amortization	$	0.7	$	0.7