Debt (Tables)

9 Months Ended

Sep. 30, 2018



	September 30, 2018		December 31, 2017
Debt classified as current liabilities:
Hancock County industrial revenue bonds ("IRBs") due April 1, 2028, interest payable quarterly (variable interest rates (not to exceed 12%)) ⁽¹⁾	$	7.8	$	7.8
U.S. revolving credit facility ⁽²⁾	14.3		—
Debt classified as non-current liabilities:
7.5% senior secured notes due June 1, 2021, net of debt discount of $1.5 million and $1.8 million, respectively, interest payable semiannually	248.5		248.2
Total	$	270.6	$	256.0

⁽¹⁾ The IRBs are classified as current liabilities because they are remarketed weekly and could be required to be repaid upon demand if there is a failed remarketing. The IRB interest rate at September 30, 2018 was 1.76%.

⁽²⁾The U.S. revolving credit facility is classified as a current liability because we repay amounts outstanding and reborrow funds based on our working capital requirements. Borrowings under the U.S. revolving credit facility expected to be repaid within a month bear interest based on the prime rate plus applicable margin as defined within the agreement. The interest rate at September 30, 2018 was 5.5%.

Schedule of Line of Credit Facilities



Status of our U.S. revolving credit facility:	September 30, 2018
Credit facility maximum amount	$	175.0
Borrowing availability	175.0
Outstanding letters of credit issued	40.1
Outstanding borrowings	14.3
Borrowing availability, net of outstanding letters of credit and borrowings	120.6



Status of our Iceland revolving credit facility:	September 30, 2018
Credit facility maximum amount	$	50.0
Borrowing availability	50.0
Outstanding borrowings	—
Borrowing availability, net of borrowings	50.0