Annual report pursuant to Section 13 and 15(d)

Long-Term Debt (Tables)

v3.24.0.1
Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Future Maturities of Long-Term Debt
Future maturities of long-term debt are as follows:
Principal
Year Ending December 31, (In millions)
2024 $ 60.1 
2025 112.9 
2026 53.0 
2027 292.2 
2028 22.6 
Thereafter 1,158.8 
Total $ 1,699.6 
Debt Instrument [Line Items]  
Financial Covenants Include Required Specified Ratios
We were in compliance with the financial covenants under the 2021 Credit Facilities and the 2019 Mortgage Facility as of December 31, 2023. Financial covenants include required specified ratios (as each is defined in the 2021 Credit Facilities and the 2019 Mortgage Facility) of:
Covenant
Minimum
Consolidated
Liquidity
Ratio
Minimum
Consolidated
Fixed Charge
Coverage
Ratio
Maximum
Consolidated
Total Lease
Adjusted Leverage
Ratio
Required ratio 1.05  1.20  5.75 
December 31, 2023 actual 1.25  1.93  2.97 
Long-Term Debt
Long-term debt consists of the following:
December 31, 2023 December 31, 2022
(In millions)
2021 Revolving Credit Facility (1) $ —  $ — 
4.625% Senior Notes due 2029 (the “4.625% Notes”) 650.0  650.0 
4.875% Senior Notes due 2031 (the “4.875% Notes”) 500.0  500.0 
2019 Mortgage Facility (2) 311.0  327.0 
Mortgage notes to finance companies - fixed rate, bearing interest from 2.05% to 7.03% 163.0  186.6 
Mortgage notes to finance companies - variable rate, bearing interest at 1.50 to 2.90 percentage points above one-month or three-month LIBOR or SOFR 75.6  116.0 
   Subtotal $ 1,699.6  $ 1,779.6 
Debt issuance costs (23.0) (27.9)
Total debt 1,676.6  1,751.7 
Less current maturities (60.1) (79.5)
Long-term debt $ 1,616.5  $ 1,672.2 
(1)The interest rate on the 2021 Revolving Credit Facility (as defined below) was 125 basis points above one-month Term SOFR (as defined in the 2021 Credit Facilities) at December 31, 2023 and 100 basis points above one-month LIBOR at December 31, 2022.
(2)The interest rate on the 2019 Mortgage Facility (as defined below) was 150 basis points above one-month Term SOFR (as defined in the 2019 Mortgage Facility) at December 31, 2023 and 125 basis points above one-month LIBOR at December 31, 2022.