XML 56 R43.htm IDEA: XBRL DOCUMENT v3.22.1
Debt - Narrative (Details)
€ in Thousands
3 Months Ended
Apr. 06, 2022
USD ($)
Feb. 10, 2021
USD ($)
Mar. 31, 2022
USD ($)
Mar. 31, 2022
EUR (€)
Dec. 31, 2021
USD ($)
Dec. 31, 2021
EUR (€)
Oct. 08, 2020
USD ($)
Oct. 07, 2020
USD ($)
Oct. 31, 2014
USD ($)
Debt Instrument [Line Items]                  
Notes and overdrafts payable     $ 978,000   $ 1,900,000        
Finance lease     5,935,000   6,505,000        
Bank acceptances executed and outstanding     0   1,676,000        
Amended Credit Agreement                  
Debt Instrument [Line Items]                  
Notes and overdrafts payable     0            
Amended Credit Agreement                  
Debt Instrument [Line Items]                  
Line of credit facility, maximum borrowing capacity     71,000,000            
Carrying amount of debt         495,262,000        
Bank Overdrafts                  
Debt Instrument [Line Items]                  
Notes and overdrafts payable     $ 978,000   224,000        
Repayment period     2 days            
3.97% Senior Notes | Senior Notes                  
Debt Instrument [Line Items]                  
Debt instrument, face amount                 $ 100,000,000
Stated interest rate     3.97% 3.97%         3.97%
Percent allowed to be prepaid                 100.00%
Carrying amount of debt     $ 100,000,000   100,000,000        
Sixth Amendment Maturity February 2022 | Amended Credit Agreement                  
Debt Instrument [Line Items]                  
Line of credit facility, maximum borrowing capacity             $ 1,000,000    
Line of credit facility, accordion feature   $ 200,000         200,000,000    
Sixth Amendment Maturity February 2022 | Amended Credit Agreement | Euribor                  
Debt Instrument [Line Items]                  
Variable basis spread   1.175%              
Sixth Amendment Maturity February 2022 | Amended Credit Agreement | Base Rate                  
Debt Instrument [Line Items]                  
Variable basis spread   0.175%              
Sixth Amendment Maturity February 2022 and 3.97% Percent Senior Notes                  
Debt Instrument [Line Items]                  
Carrying amount of debt         495,262,000        
Remaining borrowing capacity         504,738,000        
Sixth Amendment Maturity February 2022 and 3.97% Percent Senior Notes | Euro Member Countries, Euro                  
Debt Instrument [Line Items]                  
Carrying amount of debt         $ 360,262,000 € 318,450      
Line of credit, interest rate at period end         1.48% 1.48%      
Sixth Amendment Maturity February 2022 and 3.97% Percent Senior Notes | Line of Credit and Senior Notes                  
Debt Instrument [Line Items]                  
Debt covenant threshold for permitted acquisition             $ 150,000,000    
Debt covenant material acquisition, senior debt to EBITDA             3.50    
Debt covenant ratio of total debt to EBITDA             3.75    
Allowable add-back for consolidated EBITDA             $ 25,000,000    
Debt covenant, fee for exceeding senior leverage ratio             0.0050    
Fees and expenses for executing admendments             $ 1,384,000    
Sixth Amendment Maturity February 2022 and 3.97% Percent Senior Notes | Line of Credit and Senior Notes | Minimum                  
Debt Instrument [Line Items]                  
Debt covenant ratio of senior debt to EBITDA             3.25    
Sixth Amendment Maturity February 2022 and 3.97% Percent Senior Notes | Line of Credit and Senior Notes | Maximum                  
Debt Instrument [Line Items]                  
Debt covenant ratio of senior debt to EBITDA             3.75    
Fifth Amendment Maturity February 2022 and 3.97% Senior Notes | Line of Credit and Senior Notes                  
Debt Instrument [Line Items]                  
Allowable add-back for consolidated EBITDA               $ 15,000,000  
Sixth Admendment Maturity February 2026 | Amended Credit Agreement                  
Debt Instrument [Line Items]                  
Line of credit facility, maximum borrowing capacity   $ 1,000,000,000              
Line of credit facility, accordion feature   250,000              
Debt covenant ratio of senior debt to EBITDA     3.25 3.25          
Debt covenant threshold for permitted acquisition   $ 150,000              
Debt covenant material acquisition, senior debt to EBITDA   3.50              
Debt covenant ratio of total debt to EBITDA   3.75              
Fees and expenses for executing admendments         $ 4,306,000        
Line of credit facility with accordian feature, maximum borrowing capacity   $ 1,250,000              
Debt covenant material acquisition, debt to EBITDA   4.25              
Debt covenant ratio of EBITDA to cash interest expense   4.25              
Senior debt to consolidated EBITDA at period end     2.42 2.42          
Sixth Admendment Maturity February 2026 | Amended Credit Agreement | Euribor                  
Debt Instrument [Line Items]                  
Variable basis spread   1.775%              
Sixth Admendment Maturity February 2026 | Amended Credit Agreement | Base Rate                  
Debt Instrument [Line Items]                  
Variable basis spread   0.775%              
Sixth Admendment Maturity February 2026 | Amended Credit Agreement | Maximum                  
Debt Instrument [Line Items]                  
Debt covenant ratio of senior debt to EBITDA   3.25              
Sixth Admendment Maturity February 2026, Multicurrency Borrowings | Amended Credit Agreement | Euribor                  
Debt Instrument [Line Items]                  
Basis for variable basis spread   0.00%              
Sixth Admendment Maturity February 2026, Multicurrency Borrowings | Amended Credit Agreement | Minimum | Euribor                  
Debt Instrument [Line Items]                  
Variable basis spread   1.175%              
Sixth Admendment Maturity February 2026, Multicurrency Borrowings | Amended Credit Agreement | Maximum | Euribor                  
Debt Instrument [Line Items]                  
Variable basis spread   1.775%              
Sixth Admendment Maturity February 2026 and 3.97% Senior Notes                  
Debt Instrument [Line Items]                  
Carrying amount of debt     $ 490,743,000            
Remaining borrowing capacity     509,257,000            
Additional borrowings allowed under financial covenants     329,702,000            
Sixth Admendment Maturity February 2026 and 3.97% Senior Notes | Euro Member Countries, Euro                  
Debt Instrument [Line Items]                  
Carrying amount of debt     $ 345,743,000 € 310,000          
Line of credit, interest rate at period end     1.38% 1.38%          
Sixth Admendment Maturity February 2026 and 3.97% Senior Notes | Senior Notes                  
Debt Instrument [Line Items]                  
Additional borrowings allowed under financial covenants     $ 206,054,000            
Amendment No. 1 | Amended Credit Agreement | Subsequent Event                  
Debt Instrument [Line Items]                  
Commitment fee amount $ 1,034,000                
Amendment No. 1 | Amended Credit Agreement | Minimum | Subsequent Event                  
Debt Instrument [Line Items]                  
Commitment fee percentage 0.15%                
Amendment No. 1 | Amended Credit Agreement | Minimum | Base Rate | Subsequent Event                  
Debt Instrument [Line Items]                  
Variable basis spread 0.00%                
Amendment No. 1 | Amended Credit Agreement | Minimum | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Subsequent Event                  
Debt Instrument [Line Items]                  
Variable basis spread 0.975%                
Amendment No. 1 | Amended Credit Agreement | Maximum | Subsequent Event                  
Debt Instrument [Line Items]                  
Commitment fee percentage 0.30%                
Amendment No. 1 | Amended Credit Agreement | Maximum | Base Rate | Subsequent Event                  
Debt Instrument [Line Items]                  
Variable basis spread 0.70%                
Amendment No. 1 | Amended Credit Agreement | Maximum | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Subsequent Event                  
Debt Instrument [Line Items]                  
Variable basis spread 1.70%