Quarterly report pursuant to Section 13 or 15(d)

Debt

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Debt
 6 Months Ended
Jul. 03, 2021
Debt Disclosure [Abstract]  
Debt Disclosure [Text Block] Debt
The following table provides the changes in the Company's long-term debt for the six months ended July 3, 2021:

(in millions) Current maturities of long-term debt Long-term debt Total
Balance as of December 31, 2020
 $ 43.1  $ 908.3  $ 951.4 
Proceeds from issuances of long-term debt 0.9  1.0  1.9 
Repayments of long-term debt (0.1) (78.4) (78.5)
Other (0.4) 1.1  0.7 
Balance as of July 3, 2021
 $ 43.5  $ 832.0  $ 875.5 

As of July 3, 2021, Brunswick was in compliance with the financial covenants associated with its debt.

On June 23, 2021, the Company entered into a commitment letter with JPMorgan Chase Bank, N.A. ("JP Morgan") to obtain a 364-day senior unsecured bridge facility in an aggregate amount of principal not to exceed $900.0 million. This commitment letter was completed in anticipation of the acquisition of Navico. Refer to Note 5 – Acquisitions for further details regarding the acquisition.

Credit Facility
The Company maintains an Amended and Restated Credit Agreement (Credit Facility) providing for $400.0 million of borrowing capacity in effect through September 2024. The Credit Facility includes provisions to add up to $100.0 million of additional borrowing capacity and extend the facility for two additional one-year terms, subject to lender approval. As of July 3, 2021 there were no borrowings outstanding, and available borrowing capacity totaled $397.2 million, net of $2.8 million of letters of credit outstanding under the Credit Facility. Refer to Note 16 in the Notes to Consolidated Financial Statements in the 2020 Form 10-K for details regarding Brunswick's Credit Facility and Note 15 – Subsequent Events for details regarding amendments to the Credit Facility.