Yellow (YELLQ) 10-Q 11 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 07, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Trading Symbol	YRCW
Entity Registrant Name	YRC Worldwide Inc.
Entity Central Index Key	0000716006
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		37,145,903
Entity File Number	0-12255
Entity Tax Identification Number	48-0948788
Entity Address, Address Line One	10990 Roe Avenue
Entity Address, City or Town	Overland Park
Entity Address, State or Province	KS
Entity Address, Postal Zip Code	66211
City Area Code	913
Local Phone Number	696-6100
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Title of 12(b) Security	Common Stock, $0.01 par value per share
Security Exchange Name	NASDAQ

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Current Assets:
Cash and cash equivalents	$ 103.9	$ 109.2
Restricted amounts held in escrow	2	0
Accounts receivable, net	525.2	464.4
Prepaid expenses and other	60	44.6
Total current assets	691.1	618.2
Property and Equipment:
Cost	2,728.9	2,761.6
Less – accumulated depreciation	(1,990)	(1,991.3)
Net property and equipment	738.9	770.3
Deferred income taxes, net	0.5	0.6
Operating lease right-of-use assets	355.5	386
Other assets	67	56.5
Total Assets	1,853	1,831.6
Current Liabilities:
Accounts payable	194.7	163.7
Wages, vacations and employee benefits	212.2	195.9
Current operating lease liabilities	118.6	120.8
Claims and insurance accruals	111.8	120.4
Other accrued taxes	29.8	25.8
Other current and accrued liabilities	33.3	21.3
Current maturities of long-term debt	4.1	4.1
Total current liabilities	704.5	652
Other Liabilities:
Long-term debt and financing, less current portion	838.3	858.1
Pension and postretirement	230.5	236.5
Operating lease liabilities	223	246.3
Claims and other liabilities	290.5	279.9
Commitments and contingencies
Shareholders’ Deficit:
Cumulative preferred stock, $1 par value per share
Common stock, $0.01 par value per share	0.3	0.3
Capital surplus	2,334.7	2,332.9
Accumulated deficit	(2,308.1)	(2,312.4)
Accumulated other comprehensive loss	(368)	(369.3)
Treasury stock, at cost (410 shares)	(92.7)	(92.7)
Total shareholders’ deficit	(433.8)	(441.2)
Total Liabilities and Shareholders’ Deficit	$ 1,853	$ 1,831.6

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Treasury stock, shares (in shares)	410	410

Statements of Consolidated Comp

Statements of Consolidated Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement Of Income And Comprehensive Income [Abstract]
Operating Revenue	$ 1,150.4	$ 1,182.3
Operating Expenses:
Salaries, wages and employee benefits	720.2	718.2
Fuel, operating expenses and supplies	208	235.9
Purchased transportation	136.2	146.3
Depreciation and amortization	35.7	40
Other operating expenses	61.6	63.8
(Gains) losses on property disposals, net	(39.3)	1.6
Impairment charges	0	8.2
Total operating expenses	1,122.4	1,214
Operating Income (Loss)	28	(31.7)
Nonoperating Expenses:
Interest expense	28.3	27
Non-union pension and postretirement benefits	(1.6)	0.3
Other, net	(2.6)	(0.2)
Nonoperating expenses, net	24.1	27.1
Income (loss) before income taxes	3.9	(58.8)
Income tax benefit	(0.4)	(9.7)
Net income (loss)	4.3	(49.1)
Other comprehensive income, net of tax	1.3	3.5
Comprehensive Income (Loss)	$ 5.6	$ (45.6)
Average Common Shares Outstanding - Basic	33,791	33,150
Average Common Shares Outstanding - Diluted	35,630	33,150
Earnings (Loss) Per Share - Basic	$ 0.13	$ (1.48)
Earnings (Loss) Per Share - Diluted	$ 0.12	$ (1.48)

Statements of Consolidated Cash

Statements of Consolidated Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating Activities:
Net income (loss)	$ 4.3	$ (49.1)
Adjustments to reconcile net income (loss) to cash flows from operating activities:
Depreciation and amortization	35.7	40
Lease amortization and accretion expense	43.1	41.2
Lease payments	(38.1)	(36.4)
Equity-based compensation and employee benefits expense	5.6	5.3
(Gains) losses on property disposals, net	(39.3)	1.6
Impairment charges	0	8.2
Deferred income tax benefit, net	(0.4)	0
Other noncash items, net	4	0.8
Changes in assets and liabilities, net:
Accounts receivable	(61)	(42.1)
Accounts payable	14.9	12.8
Other operating assets	(3.9)	(20)
Other operating liabilities	19.5	(4)
Net cash used in operating activities	(15.6)	(41.7)
Investing Activities:
Acquisition of property and equipment	(12.4)	(32.6)
Proceeds from disposal of property and equipment	45	0.8
Net cash provided by (used in) investing activities	32.6	(31.8)
Financing Activities:
Repayment of long-term debt	(20.1)	(1.9)
Payments for tax withheld on equity-based compensation	(0.2)	(0.6)
Net cash used in financing activities	(20.3)	(2.5)
Net Decrease In Cash and Cash Equivalents and Restricted Amounts Held in Escrow	(3.3)	(76)
Cash and Cash Equivalents and Restricted Amounts Held in Escrow, Beginning of Period	109.2	227.6
Cash and Cash Equivalents and Restricted Amounts Held in Escrow, End of Period	105.9	151.6
Supplemental Cash Flow Information:
Interest paid	(8.6)	(13.3)
Income tax payment	$ (0.5)	$ (1.6)

Statement of Consolidated Share

Statement of Consolidated Shareholders' Deficit (Unaudited) - USD ($) $ in Millions	Total	Preferred Stock	Common Stock	Capital Surplus	Accumulated Deficit	Accumulated Other Comprehensive Loss	Treasury Stock, At Cost
Beginning balance at Dec. 31, 2018	$ (305.5)	$ 0	$ 0.3	$ 2,327.6	$ (2,208.4)	$ (332.3)	$ (92.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	1.6	0		1.6
Net income (loss)	(49.1)	0			(49.1)
Amortization of prior net losses	3.2	0				3.2
Amortization of prior service credit	(0.1)	0				(0.1)
Foreign currency translation adjustments	0.4	0				0.4
Ending balance at Mar. 31, 2019	(349.5)	0	0.3	2,329.2	(2,257.5)	(328.8)	(92.7)
Beginning balance at Dec. 31, 2019	(441.2)	0	0.3	2,332.9	(2,312.4)	(369.3)	(92.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	1.8	0		1.8
Net income (loss)	4.3	0			4.3
Amortization of prior net losses	3.3	0				3.3
Amortization of prior service credit	(0.1)	0				(0.1)
Foreign currency translation adjustments	(1.9)	0				(1.9)
Ending balance at Mar. 31, 2020	$ (433.8)	$ 0	$ 0.3	$ 2,334.7	$ (2,308.1)	$ (368)	$ (92.7)

Description of Business

Description of Business	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Description of Business	1. Description of Business YRC Worldwide Inc. (also referred to as “YRC Worldwide,” the “Company,” “we,” “us” or “our”) is a holding company that, through its operating subsidiaries, offers its customers a wide range of transportation services. We have one of the largest, most comprehensive less-than-truckload (“LTL”) networks in North America with local, regional, national and international capabilities. Through our team of experienced service professionals, we offer expertise in LTL shipments and flexible supply chain solutions, ensuring customers can ship industrial, commercial and retail goods with confidence. YRC Worldwide provides for the movement of industrial, commercial and retail goods through our LTL subsidiaries including USF Holland LLC (“Holland”), New Penn Motor Express LLC (“New Penn”), USF Reddaway Inc. (“Reddaway”), YRC Inc. and YRC Freight Canada Company (both doing business as, and herein referred to as, “YRC Freight”). Our LTL companies provide regional, national and international services through a consolidated network of facilities located across the United States, Canada, and Puerto Rico. We also offer services through HNRY Logistics, Inc. (“HNRY Logistics”), our customer-specific logistics solutions provider, specializing in truckload, residential, and warehouse solutions. At March 31, 2020, approximately 79% of our labor force is subject to collective bargaining agreements, which predominantly expire on March 31, 2024.

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	2. Basis of Presentation The accompanying consolidated financial statements include the accounts of YRC Worldwide and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. We report on a calendar year basis. The quarters of Holland and Reddaway consist of thirteen weeks that end on a Saturday either before or after the end of March, June and September, whereas all other companies’ quarters end on the natural calendar quarter end. Covenant Compliance, Liquidity, and Ability to Continue as a Going Concern The consolidated financial statements have been prepared on the going concern basis of accounting, which assumes the Company will continue to operate as a going concern and which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. However, absent governmental assistance or a meaningful stabilization of the economy in the near-term, our ability to comply with our debt covenants for a period of one year from the date these financial statements have been issued, and our ability to generate sufficient cash flows and liquidity to fund operations raises substantial doubt about our ability to continue as a going concern, as defined in Accounting Standards Codification (“ASC”) 205-40, Going Concern During 2019, the freight industry experienced a recession. This recession appeared to have stabilized in the first quarter of 2020. However, beginning the last two weeks of March our industry and the economy at-large experienced a precipitous and significant decline in economic activity due to the impact that the 2019 novel coronavirus disease (“COVID-19”). The COVID-19 pandemic and related economic repercussions have created significant uncertainty and has resulted in a significant decrease in the volume that was expected during 2020 by both the Company and the industry as a whole. As COVID-19 is expected to negatively impact our liquidity levels, in order to maintain adequate liquidity to fund our operations, the Company began taking liquidity preservation actions in late March and early April including layoffs, furloughs, further eliminations of short-term incentive compensation and reductions in capital expenditures, and we have sought deferment of payments to various parties. As discussed further in Note 3, we also amended our New Term Loan Agreement to eliminate the vast majority of interest owed in cash for the first half of 2020. Further, we benefited from the support afforded to us under the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) which has provided temporary relief related to the payment of employer payroll taxes and non-union pension payments. Further actions are currently being pursued to preserve liquidity as necessary over the duration of the current economic downturn. Not all of these actions are within our control. Given the significant uncertainty arising from the COVID-19 pandemic and the related economic repercussions, there can be no assurance that our efforts to maintain adequate liquidity will be achieved. Under the New Term Loan, we are required to maintain at least $200.0 million in Adjusted EBITDA on a trailing-twelve-month (“TTM”) basis measured each quarter until maturity. For the TTM period ended March 31, 2020, we achieved Adjusted EBITDA of $214.6 million. In April 2020, we amended the New Term Loan to waive the Adjusted EBITDA covenant for every quarter of the year through and including December 31, 2020. While we obtained relief from this covenant for the duration of 2020, based on current projections and primarily as a result that COVID-19 had on our business, we do not believe that our results of operations will allow us to comply with the minimum Adjusted EBITDA covenant at March 31, 2021, which is within twelve months of the issuance date of these financial statements. We intend to amend the New Term Loan again; however, obtaining an amendment is not within our control. If we are unable to comply with our covenants, the New Term Loan lenders may exercise their rights available to them under the New Term Loan credit agreement. Segments As noted in our 2019 annual report on Form 10-K, our Chief Operating Decision Maker began evaluating performance and business results, as well as making resource and operating decisions under the single segment view as a result of the business transformation that began during 2019. As such, a single segment view is presented in this Form 10-Q. See further details in our 2019 annual report as filed March 11, 2020. Revenue Disaggregation We considered the disclosure requirements for revenue disaggregation guidance in ASC Topic 606, Revenue from Contracts with Customers Three Months Disaggregated Revenue (in millions) 2020 2019 LTL revenue $ 1,050.7 $ 1,082.9 Other revenue 99.7 99.4 Total revenue $ 1,150.4 $ 1,182.3 Reclassifications Certain reclassifications have been made to prior year’s balances to conform with current year presentation, including lease payments previously reported in “Change in other operating liabilities” operating cash flows in the statement of consolidated cash flows are now reported in “Lease payments” in the operating cash flows. Impact of Recently-Issued Accounting Standards While there are recently issued accounting standards that are applicable to the Company, none of these standards are expected to have a material impact on our financial statements.

Debt and Financing

Debt and Financing	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Debt and Financing	3. Debt and Financing Our outstanding debt as of March 31, 2020 consisted of the following: As of March 31, 2020 (in millions) Par Value Discount Debt Issuance Costs Book Value Effective Interest Rate New Term Loan $ 580.6 $ (25.7 ) $ (11.3 ) $ 543.6 (a) 10.0 % ABL Facility — — — — Secured Second A&R CDA 26.0 — (0.1 ) 25.9 7.8 % Unsecured Second A&R CDA 45.2 — (0.1 ) 45.1 7.8 % Lease financing obligations 228.1 — (0.3 ) 227.8 16.2 % Total debt $ 879.9 $ (25.7 ) $ (11.8 ) $ 842.4 Current maturities of Unsecured Second A&R CDA (1.4 ) — — (1.4 ) Current maturities of lease financing obligations (2.7 ) — — (2.7 ) Long-term debt $ 875.8 $ (25.7 ) $ (11.8 ) $ 838.3 (a) Variable interest rate of 1, 3 or 6-month LIBOR, with a floor of 1.0%, plus a fixed margin of 7.5%. After entering into Amendment No. 1 of the New Term Loan on April 7, 2020, the interest rate was adjusted as described below. New Term Loan On September 11, 2019, the Company and certain of its subsidiaries, as guarantors (the “Term Guarantors”), amended and restated the existing credit facilities under the credit agreement dated February 13, 2014 (the “Prior Term Loan Agreement”) and entered into a $600.0 million term loan agreement (“New Term Loan”) with funds managed by Apollo Global Management, LLC acting collectively as lead lender, and Cortland Products Corp, as administrative agent and collateral agent. The obligations of the Company under the agreement governing (the “New Term Loan Agreement”) are unconditionally guaranteed by the Term Guarantors. The New Term Loan has a maturity date of June 30, 2024, with a single payment due at maturity of the outstanding balance. The New Term Loan bears interest at LIBOR (subject to a floor of 1.0%) plus a margin of 7.5% per annum, payable at least quarterly in cash, subject to a 1.0% margin step down in the event the Company achieves greater than $400.0 million in trailing-twelve-month Adjusted EBITDA (defined in the New Term Loan Agreement as “Consolidated EBITDA”). Obligations under the New Term Loan are secured by a perfected first priority security interest in (subject to permitted liens) assets of the Company and the Term Guarantors, including but not limited to all of the Company’s wholly owned terminals, tractors and trailers, subject to certain limited exceptions. On April 7, 2020, the Company and certain of its subsidiaries entered into Amendment No. 1 (the “Amendment”) to the New Term Loan Agreement as a result of expected future covenant and liquidity tightening due to unprecedented economic deterioration resulting from COVID-19 pandemic and shelter-in-place orders made across North America by various governmental entities and private enterprises. The Amendment principally provides additional liquidity allowing the Company to defer quarterly interest payments for the quarter ended March 31, 2020 and the quarter ending June 30, 2020 with almost all of such interest to be paid-in-kind. The Amendment also provides for a waiver with respect to the Consolidated EBITDA financial covenant during each fiscal quarter during the fiscal year ending December 31, 2020. The interest rate was reset to a fixed 14% during the first six months of 2020. Liquidity Our principal sources of liquidity are cash and cash equivalents, available borrowings under our asset-based loan facility (the “ABL Facility”) and any prospective net cash flow from operations. As of March 31, 2020, our maximum availability under our ABL Facility was $59.2 million, and our managed accessibility was $19.1 million. Maximum availability is derived by reducing the amount that may be advanced against eligible receivables plus eligible borrowing base cash by certain reserves imposed by the ABL Agent and our $341.3 million of outstanding letters of credit. Our Managed Accessibility of $19.1 million represents the maximum amount we would access on the ABL Facility and is adjusted for eligible receivables plus eligible borrowing base cash measured at March 31, 2020. The credit agreement governing the ABL Facility permits adjustments from eligible borrowing base cash to restricted cash prior to the compliance measurement date of April 15, 2020. As of April 15, 2020, we moved $5.0 million of cash into restricted cash, as permitted under the ABL Facility, which effectively put our cash and cash equivalents and Managed Accessibility to $118.0 million as of March 31, 2020. For the December 31, 2019 borrowing base certificate, which was filed in January of 2020, we transferred $29.0 million of cash into restricted cash to maintain the 10% threshold, as permitted under the ABL Facility, which transfer effectively put our cash and cash equivalents and Managed Accessibility to $80.4 million. The table below summarizes cash and cash equivalents and Managed Accessibility as of March 31, 2020 and December 31, 2019: (in millions) March 31, 2020 December 31, 2019 Cash and cash equivalents 103.9 109.2 Less: amounts placed into restricted cash subsequent to period end (5.0 ) (29.0 ) Managed Accessibility 19.1 0.2 Total cash and cash equivalents and Managed Accessibility $ 118.0 $ 80.4 Covenants The New Term Loan Agreement includes a financial covenant requirement for the Company to maintain a minimum of $200.0 million trailing-twelve-month (“TTM”) Adjusted EBITDA, measured quarterly. Consolidated Adjusted EBITDA, defined in our New Term Loan Agreement as “Consolidated EBITDA,” is a measure that reflects our earnings before interest, taxes, depreciation, and amortization expense, and is further adjusted for, among other things, letter of credit fees, equity-based compensation expense, net gains or losses on property disposals, restructuring charges, transaction costs related to issuances of debt, non-recurring consulting fees, non-cash impairment charges, integration costs, severance, non-recurring charges and the gains or losses from permitted dispositions, discontinued operations, and certain non-cash expenses, charges and losses (provided that if any of such non-cash expenses, charges or losses represents an accrual or reserve for potential cash items in any future period, the cash payment in respect thereof in such future period will be subtracted from Consolidated EBITDA in such future period to the extent paid). The definition was further modified under the New Term Loan Agreement such that certain expenses that qualify as adjustments are capped at 10.0% of the trailing-twelve-month Adjusted EBITDA, in aggregate. Adjustments subject to the 10.0% cap include, but are not limited to, restructuring charges, integration costs, severance, and non-recurring charges. Additionally, all net gains from the disposition of properties are excluded from the definition of Adjusted EBITDA, therefore any gains previously recognized in Adjusted EBITDA, as that term was previously defined in our SEC filings, in accordance with its definition in the Prior Term Loan Agreement, will not be included in the calculation of Adjusted EBITDA under the New Term Loan Agreement. The Amendment provides for a waiver of the minimum Consolidated EBITDA financial covenant for the testing periods ending on each fiscal quarter in the fiscal year ending December 31, 2020. The Amendment, however, requires that for the period commencing on the effective date of the Amendment and through the first fiscal quarter reporting period after January 1, 2021 in which Consolidated EBITDA for the TTM period ending as of the last day of such fiscal quarter is greater than $200.0 million (the “Specified Period”), the Company maintain $55.0 million of “Liquidity” (such amount being calculated as the Company’s and New Term Loan’s guarantors’ unrestricted cash on hand plus the amount of “Availability” (as defined in the loan agreement for the ABL Facility) to the extent such Availability could be borrowed under the ABL Facility) measured twice each week, also referred to herein as the “Liquidity covenant.” The Amendment also provides for certain anti-cash hoarding covenants, which require mandatory prepayments of the term loans with the amount of any cash on the Company’s balance sheet in excess of $200.0 million to the extent the condition to make voluntary prepayments of term loans under the ABL Facility is satisfied, which prepayments could adversely affect our cash balances. Risks and Uncertainties Regarding Compliance with Credit Facility Financial Covenants Under the New Term Loan, we are required to maintain at least $200.0 million in Adjusted EBITDA on a TTM basis measured each quarter until maturity in June 2024. For the TTM period ended March 31, 2020, we achieved Adjusted EBITDA of $214.6 million. While we obtained relief from the minimum Adjusted EBITDA covenant for the duration of 2020 as a result of the Amendment, we do not believe that our results of operations will allow us to comply with this covenant at March 31, 2021, which is inside the next twelve months beyond the issuance date of these financial statements. We also cannot provide assurances that we will be able to comply with the Liquidity financial covenant during the Specified Period provided for in the Amendment. While a number of actions are being taken to manage liquidity, the duration of the current economic slowdown is uncertain, and these actions may not be sufficient if the economic environment is impacted for a sustained period of time. Fair Value Measurement The book value and estimated fair values of our long-term debt, including current maturities and other financial instruments, are summarized as follows: March 31, 2020 December 31, 2019 (in millions) Book Value Fair Value Book Value Fair Value New Term Loan $ 543.6 $ 566.1 $ 559.9 $ 559.3 ABL Facility — — — — Lease financing obligations 227.8 221.3 231.3 233.7 Second A&R CDA 71.0 69.5 71.0 71.7 Total debt $ 842.4 $ 856.9 $ 862.2 $ 864.7 The fair values of the New Term Loan and Second Amended and Restated Contribution Deferral Agreement (the “Second A&R CDA”) were estimated based on observable prices (level two inputs for fair value measurements). The fair value of the lease financing obligations are estimated using a publicly traded secured loan with similar characteristics (level three input for fair value measurement).

Leases

Leases	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Leases	4. Leases Leases (in millions) Classification March 31, 2020 December 31, 2019 Assets Operating lease assets Operating lease right-of-use assets $ 355.5 $ 386.0 Finance lease assets Net property and equipment 2.5 2.6 Total leased assets $ 358.0 $ 388.6 Liabilities Current Operating Current operating lease liabilities $ 118.6 $ 120.8 Finance Other current and accrued liabilities 0.2 0.2 Noncurrent Operating Operating lease liabilities 223.0 246.3 Finance Claims and other liabilities 3.3 3.3 Total lease liabilities $ 345.1 $ 370.6 Lease Cost (in millions) Classification Three Months Ended March 31, 2020 Three Months Ended March 31, 2019 Operating lease cost (a) Purchased transportation; Fuel, operating expenses and supplies $ 43.1 $ 41.2 Short-term cost Purchased transportation; Fuel, operating expenses and supplies 2.0 3.5 Variable lease cost Purchased transportation; Fuel, operating expenses and supplies 2.4 1.5 Finance lease cost Amortization of leased assets Depreciation and amortization 0.1 0.2 Interest on lease liabilities Interest expense 0.1 0.1 Total lease cost $ 47.7 $ 46.5 (a) Operating lease cost represents non-cash amortization of ROU assets and accretion of the discounted lease liabilities and is segregated on the statement of consolidated cash flows. Remaining Maturities of Lease Liabilities Operating Leases Finance Leases Total 2020 $ 114.6 $ 0.5 $ 115.1 2021 129.2 0.6 129.8 2022 77.8 0.6 78.4 2023 40.9 0.6 41.5 2024 16.3 0.7 17.0 After 2024 32.6 3.4 36.0 Total lease payments $ 411.4 $ 6.4 $ 417.8 Less: Imputed Interest 69.8 2.9 72.7 Present value of lease liabilities $ 341.6 $ 3.5 $ 345.1 Lease Term and Discount Rate (years and percent) Weighted-Average Remaining Lease Term Weighted-Average Discount Rate Operating leases 3.6 11.0% Finance leases 9.5 11.3% Other Information (in millions) Three Months Ended March 31, 2020 Three Months Ended March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases (a) $ 38.0 $ 36.3 Operating cash flows from finance leases 0.1 0.1 Financing cash flows from finance leases 0.1 0.2 Leased assets obtained in exchange for new operating lease liabilities $ 3.7 $ 19.1 (a) Payments arising from operating leases are reported in operating activities on the statements of consolidated cash flows.

Employee Benefits

Employee Benefits	3 Months Ended
	Mar. 31, 2020
Compensation And Retirement Disclosure [Abstract]
Employee Benefits	5. Employee Benefits Qualified and Nonqualified Defined Benefit Pension Plans The following table presents the components of our Company-sponsored pension plan costs for the three months ended March 31: Three Months (in millions) 2020 2019 Interest cost $ 9.6 $ 11.4 Expected return on plan assets (14.9 ) (14.3 ) Amortization of prior service credit (0.1 ) (0.1 ) Amortization of prior net pension loss 3.7 3.2 Total net periodic pension cost $ (1.7 ) $ 0.2 We have contributed $2.1 million to our Company-sponsored pension plans through March 31, 2020. Under the CARES Act, we will not be making any additional contributions in 2020. The $29.3 million in deferred payments will be required to be made on January 1, 2021.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	6. Income Taxes Our effective tax rate for the three months ended March 31, 2020 was (10.3%) compared to 16.5% for the three months ended March 31, 2019. The significant items impacting the 2020 rate include a benefit recognized due to application of the exception to the rules regarding intraperiod tax allocation,

Earnings (Loss) Per Share

Earnings (Loss) Per Share	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	7. Earnings (Loss) Per Share We calculate basic earnings (loss) per share by dividing our net earnings (loss) available to common shareholders by our weighted-average shares outstanding at the end of the period. The calculation for diluted earnings (loss) per share adjusts the weighted average shares outstanding for our dilutive unvested shares and stock units using the treasury stock method. Our calculations for basic and dilutive earnings (loss) per share for three months ended March 31, 2020 and 2019 are as follows: Three Months (dollars in millions, except per share data; shares and stock units in thousands) 2020 2019 Basic and dilutive net income (loss) available to common shareholders $ 4.3 $ (49.1 ) Basic weighted average shares outstanding 33,791 33,150 Effect of dilutive securities: Unvested shares and stock units (a) 1,839 — Dilutive weighted average shares outstanding 35,630 33,150 Basic earnings (loss) per share (b) $ 0.13 $ (1.48 ) Diluted earnings (loss) per share (b) $ 0.12 $ (1.48 ) (a) Includes unvested shares of Common Stock, unvested stock units and vested stock units for which the underlying Common Stock has not been distributed. (b) Earnings (loss) per share is based on unrounded figures and not the rounded figures presented. At March 31, 2020 and 2019, our anti-dilutive unvested shares, options, and stock units were approximately 176,000 and 279,000, respectively.

Commitments, Contingencies and

Commitments, Contingencies and Uncertainties	3 Months Ended
	Mar. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments, Contingencies and Uncertainties	8. Commitments, Contingencies and Uncertainties Department of Defense Complaints In December 2018, the United States on behalf of the United States Department of Defense filed a Complaint in Intervention (“Complaint”) against the Company in the U.S. District in the Western District of New York captioned United States ex rel. James Hannum v. YRC Freight, Inc.; Roadway Express, Inc.; and Yellow Transportation, Inc., Class Action Securities Complaint In January 2019, a purported class action lawsuit captioned Christina Lewis v. YRC Worldwide Inc., et al., Shareholder Derivative Complaint In May 2019, a putative shareholder filed an action derivatively and on behalf of the Company naming James L. Welch, Jamie G. Pierson, Stephanie D. Fisher, Raymond J. Bromark, Douglas A. Carty, William R. Davidson, Matthew A. Doheny, Robert L. Friedman, James E. Hoffman, Michael J. Kneeland, Patricia M. Nazemetz, and James F. Winestock individually as defendants and the Company as the nominal defendant. In an amended complaint, filed on October 15, 2019, Darren D. Hawkins was added as a defendant. The case, captioned Hastey v. Welch, et al. In October 2019, another putative shareholder filed an action derivatively and on behalf of the Company in the United States District Court for the District of Delaware naming the same defendants as did the October 15, 2019 amended complaint in the Hastey Broughton v. Hawkins, et al. Hastey Broughton Other Legal Matters We are involved in litigation or proceedings that arise in ordinary business activities. When possible, we insure against these risks to the extent we deem prudent, but no assurance can be given that the nature or amount of such insurance will be sufficient to fully indemnify us against liabilities arising out of pending and future legal proceedings. Many of these insurance policies contain self-insured retentions in amounts we deem prudent. Based on our current assessment of information available as of the date of these consolidated financial statements, we believe that our consolidated financial statements include adequate provisions for estimated costs and losses that may be incurred within the litigation and proceedings to which we are a party.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	9. Subsequent Events On April 7, 2020, the Company and certain of its subsidiaries entered into an Amendment to the New Term Loan Agreement. The Amendment provides for a waiver with respect to the Consolidated EBITDA financial covenant and allows the Company to defer quarterly interest payments, among other things, as further described in the “Debt and Financing” footnote to the consolidated financial statements.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	The accompanying consolidated financial statements include the accounts of YRC Worldwide and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. We report on a calendar year basis. The quarters of Holland and Reddaway consist of thirteen weeks that end on a Saturday either before or after the end of March, June and September, whereas all other companies’ quarters end on the natural calendar quarter end.
Covenant Compliance, Liquidity, and Ability to Continue as a Going Concern	Covenant Compliance, Liquidity, and Ability to Continue as a Going Concern The consolidated financial statements have been prepared on the going concern basis of accounting, which assumes the Company will continue to operate as a going concern and which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. However, absent governmental assistance or a meaningful stabilization of the economy in the near-term, our ability to comply with our debt covenants for a period of one year from the date these financial statements have been issued, and our ability to generate sufficient cash flows and liquidity to fund operations raises substantial doubt about our ability to continue as a going concern, as defined in Accounting Standards Codification (“ASC”) 205-40, Going Concern During 2019, the freight industry experienced a recession. This recession appeared to have stabilized in the first quarter of 2020. However, beginning the last two weeks of March our industry and the economy at-large experienced a precipitous and significant decline in economic activity due to the impact that the 2019 novel coronavirus disease (“COVID-19”). The COVID-19 pandemic and related economic repercussions have created significant uncertainty and has resulted in a significant decrease in the volume that was expected during 2020 by both the Company and the industry as a whole. As COVID-19 is expected to negatively impact our liquidity levels, in order to maintain adequate liquidity to fund our operations, the Company began taking liquidity preservation actions in late March and early April including layoffs, furloughs, further eliminations of short-term incentive compensation and reductions in capital expenditures, and we have sought deferment of payments to various parties. As discussed further in Note 3, we also amended our New Term Loan Agreement to eliminate the vast majority of interest owed in cash for the first half of 2020. Further, we benefited from the support afforded to us under the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) which has provided temporary relief related to the payment of employer payroll taxes and non-union pension payments. Further actions are currently being pursued to preserve liquidity as necessary over the duration of the current economic downturn. Not all of these actions are within our control. Given the significant uncertainty arising from the COVID-19 pandemic and the related economic repercussions, there can be no assurance that our efforts to maintain adequate liquidity will be achieved. Under the New Term Loan, we are required to maintain at least $200.0 million in Adjusted EBITDA on a trailing-twelve-month (“TTM”) basis measured each quarter until maturity. For the TTM period ended March 31, 2020, we achieved Adjusted EBITDA of $214.6 million. In April 2020, we amended the New Term Loan to waive the Adjusted EBITDA covenant for every quarter of the year through and including December 31, 2020. While we obtained relief from this covenant for the duration of 2020, based on current projections and primarily as a result that COVID-19 had on our business, we do not believe that our results of operations will allow us to comply with the minimum Adjusted EBITDA covenant at March 31, 2021, which is within twelve months of the issuance date of these financial statements. We intend to amend the New Term Loan again; however, obtaining an amendment is not within our control. If we are unable to comply with our covenants, the New Term Loan lenders may exercise their rights available to them under the New Term Loan credit agreement.
Segments	Segments As noted in our 2019 annual report on Form 10-K, our Chief Operating Decision Maker began evaluating performance and business results, as well as making resource and operating decisions under the single segment view as a result of the business transformation that began during 2019. As such, a single segment view is presented in this Form 10-Q. See further details in our 2019 annual report as filed March 11, 2020.
Revenue Disaggregation	Revenue Disaggregation We considered the disclosure requirements for revenue disaggregation guidance in ASC Topic 606, Revenue from Contracts with Customers Three Months Disaggregated Revenue (in millions) 2020 2019 LTL revenue $ 1,050.7 $ 1,082.9 Other revenue 99.7 99.4 Total revenue $ 1,150.4 $ 1,182.3
Reclassifications	Reclassifications Certain reclassifications have been made to prior year’s balances to conform with current year presentation, including lease payments previously reported in “Change in other operating liabilities” operating cash flows in the statement of consolidated cash flows are now reported in “Lease payments” in the operating cash flows.
Impact of Recently Issued Accounting Standards	Impact of Recently-Issued Accounting Standards While there are recently issued accounting standards that are applicable to the Company, none of these standards are expected to have a material impact on our financial statements.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Disaggregation of Revenue	The following table presents disaggregated revenue by revenue source between LTL shipments and total. LTL shipments are defined as shipments less than 10,000 pounds that move in our network. Three Months Disaggregated Revenue (in millions) 2020 2019 LTL revenue $ 1,050.7 $ 1,082.9 Other revenue 99.7 99.4 Total revenue $ 1,150.4 $ 1,182.3

Debt and Financing (Tables)

Debt and Financing (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of Outstanding Debt	Our outstanding debt as of March 31, 2020 consisted of the following: As of March 31, 2020 (in millions) Par Value Discount Debt Issuance Costs Book Value Effective Interest Rate New Term Loan $ 580.6 $ (25.7 ) $ (11.3 ) $ 543.6 (a) 10.0 % ABL Facility — — — — Secured Second A&R CDA 26.0 — (0.1 ) 25.9 7.8 % Unsecured Second A&R CDA 45.2 — (0.1 ) 45.1 7.8 % Lease financing obligations 228.1 — (0.3 ) 227.8 16.2 % Total debt $ 879.9 $ (25.7 ) $ (11.8 ) $ 842.4 Current maturities of Unsecured Second A&R CDA (1.4 ) — — (1.4 ) Current maturities of lease financing obligations (2.7 ) — — (2.7 ) Long-term debt $ 875.8 $ (25.7 ) $ (11.8 ) $ 838.3 (a) Variable interest rate of 1, 3 or 6-month LIBOR, with a floor of 1.0%, plus a fixed margin of 7.5%. After entering into Amendment No. 1 of the New Term Loan on April 7, 2020, the interest rate was adjusted as described below.
Schedule of Cash and Cash Equivalents and Managed Accessibility	The table below summarizes cash and cash equivalents and Managed Accessibility as of March 31, 2020 and December 31, 2019: (in millions) March 31, 2020 December 31, 2019 Cash and cash equivalents 103.9 109.2 Less: amounts placed into restricted cash subsequent to period end (5.0 ) (29.0 ) Managed Accessibility 19.1 0.2 Total cash and cash equivalents and Managed Accessibility $ 118.0 $ 80.4
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	The book value and estimated fair values of our long-term debt, including current maturities and other financial instruments, are summarized as follows: March 31, 2020 December 31, 2019 (in millions) Book Value Fair Value Book Value Fair Value New Term Loan $ 543.6 $ 566.1 $ 559.9 $ 559.3 ABL Facility — — — — Lease financing obligations 227.8 221.3 231.3 233.7 Second A&R CDA 71.0 69.5 71.0 71.7 Total debt $ 842.4 $ 856.9 $ 862.2 $ 864.7

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Summary of Assets and Liabilities	Leases (in millions) Classification March 31, 2020 December 31, 2019 Assets Operating lease assets Operating lease right-of-use assets $ 355.5 $ 386.0 Finance lease assets Net property and equipment 2.5 2.6 Total leased assets $ 358.0 $ 388.6 Liabilities Current Operating Current operating lease liabilities $ 118.6 $ 120.8 Finance Other current and accrued liabilities 0.2 0.2 Noncurrent Operating Operating lease liabilities 223.0 246.3 Finance Claims and other liabilities 3.3 3.3 Total lease liabilities $ 345.1 $ 370.6
Summary of Lease Cost	Lease Cost (in millions) Classification Three Months Ended March 31, 2020 Three Months Ended March 31, 2019 Operating lease cost (a) Purchased transportation; Fuel, operating expenses and supplies $ 43.1 $ 41.2 Short-term cost Purchased transportation; Fuel, operating expenses and supplies 2.0 3.5 Variable lease cost Purchased transportation; Fuel, operating expenses and supplies 2.4 1.5 Finance lease cost Amortization of leased assets Depreciation and amortization 0.1 0.2 Interest on lease liabilities Interest expense 0.1 0.1 Total lease cost $ 47.7 $ 46.5 (a) Operating lease cost represents non-cash amortization of ROU assets and accretion of the discounted lease liabilities and is segregated on the statement of consolidated cash flows.
Schedule of Remaining Maturities of Lease Liabilities	Remaining Maturities of Lease Liabilities Operating Leases Finance Leases Total 2020 $ 114.6 $ 0.5 $ 115.1 2021 129.2 0.6 129.8 2022 77.8 0.6 78.4 2023 40.9 0.6 41.5 2024 16.3 0.7 17.0 After 2024 32.6 3.4 36.0 Total lease payments $ 411.4 $ 6.4 $ 417.8 Less: Imputed Interest 69.8 2.9 72.7 Present value of lease liabilities $ 341.6 $ 3.5 $ 345.1
Summary of Lease Term and Discount Rate	Lease Term and Discount Rate (years and percent) Weighted-Average Remaining Lease Term Weighted-Average Discount Rate Operating leases 3.6 11.0% Finance leases 9.5 11.3%
Summary of Other Information	Other Information (in millions) Three Months Ended March 31, 2020 Three Months Ended March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases (a) $ 38.0 $ 36.3 Operating cash flows from finance leases 0.1 0.1 Financing cash flows from finance leases 0.1 0.2 Leased assets obtained in exchange for new operating lease liabilities $ 3.7 $ 19.1 (a) Payments arising from operating leases are reported in operating activities on the statements of consolidated cash flows.

Employee Benefits (Tables)

Employee Benefits (Tables)	3 Months Ended
	Mar. 31, 2020
Compensation And Retirement Disclosure [Abstract]
Schedule of Costs of Retirement Plans	The following table presents the components of our Company-sponsored pension plan costs for the three months ended March 31: Three Months (in millions) 2020 2019 Interest cost $ 9.6 $ 11.4 Expected return on plan assets (14.9 ) (14.3 ) Amortization of prior service credit (0.1 ) (0.1 ) Amortization of prior net pension loss 3.7 3.2 Total net periodic pension cost $ (1.7 ) $ 0.2

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Schedule of Basic and Dilutive Earnings (Loss) Per Share	Our calculations for basic and dilutive earnings (loss) per share for three months ended March 31, 2020 and 2019 are as follows: Three Months (dollars in millions, except per share data; shares and stock units in thousands) 2020 2019 Basic and dilutive net income (loss) available to common shareholders $ 4.3 $ (49.1 ) Basic weighted average shares outstanding 33,791 33,150 Effect of dilutive securities: Unvested shares and stock units (a) 1,839 — Dilutive weighted average shares outstanding 35,630 33,150 Basic earnings (loss) per share (b) $ 0.13 $ (1.48 ) Diluted earnings (loss) per share (b) $ 0.12 $ (1.48 ) (a) Includes unvested shares of Common Stock, unvested stock units and vested stock units for which the underlying Common Stock has not been distributed. (b) Earnings (loss) per share is based on unrounded figures and not the rounded figures presented.

Description of Business (Detail

Description of Business (Details)	3 Months Ended
	Mar. 31, 2020
Workforce Subject to Collective Bargaining Arrangements [Member] | Labor Force Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of workforce subject to collective bargaining agreements	79.00%

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Details) - USD ($)	Sep. 11, 2019	Mar. 31, 2020
Term Loan | New Term Loan Agreement
Accounting Policy [Line Items]
Minimum adjusted EBITDA	$ 200,000,000	$ 214,600,000

Basis of Presentation - Disaggr

Basis of Presentation - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue from External Customer [Line Items]
Operating Revenue	$ 1,150.4	$ 1,182.3
LTL revenue
Revenue from External Customer [Line Items]
Operating Revenue	1,050.7	1,082.9
Other revenue
Revenue from External Customer [Line Items]
Operating Revenue	$ 99.7	$ 99.4

Debt and Financing - Schedule o

Debt and Financing - Schedule of Outstanding Debt (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Par Value	$ 879.9
Discount	(25.7)
Debt Issuance Costs	(11.8)
Book Value	$ 842.4
Effective Interest Rate	0.00%
Book Value, Current Maturities	$ (4.1)	$ (4.1)
Par Value, Excluding Current Maturities	875.8
Premium (Discount), Excluding Current Maturities	(25.7)
Debt Issuance Costs, Noncurrent	(11.8)
Book Value, Excluding Current Maturities	838.3	$ 858.1
New Term Loan
Debt Instrument [Line Items]
Par Value	580.6
Discount	(25.7)
Debt Issuance Costs	(11.3)
Book Value	$ 543.6
Effective Interest Rate	10.00%
ABL Facility | 2014 ABL Facility Credit Agreement
Debt Instrument [Line Items]
Par Value	$ 0
Discount	0
Debt Issuance Costs	0
Book Value	$ 0
Effective Interest Rate	0.00%
Secured Second A&R CDA
Debt Instrument [Line Items]
Par Value	$ 26
Discount	0
Debt Issuance Costs	(0.1)
Book Value	$ 25.9
Effective Interest Rate	7.80%
Unsecured Second A&R CDA
Debt Instrument [Line Items]
Par Value	$ 45.2
Discount	0
Debt Issuance Costs	(0.1)
Book Value	$ 45.1
Effective Interest Rate	7.80%
Par Value, Current Maturities	$ (1.4)
Discount, Current Maturities	0
Deferred Issuance Costs, Current	0
Book Value, Current Maturities	(1.4)
Lease financing obligations
Debt Instrument [Line Items]
Par Value	228.1
Discount	0
Debt Issuance Costs	(0.3)
Book Value	$ 227.8
Effective Interest Rate	16.20%
Par Value, Current Maturities	$ (2.7)
Discount, Current Maturities	0
Deferred Issuance Costs, Current	0
Book Value, Current Maturities	$ (2.7)

Debt and Financing - Schedule_2

Debt and Financing - Schedule of Outstanding Debt (Parenthetical) (Details) - London Interbank Offered Rate (LIBOR) - New Term Loan	3 Months Ended
	Mar. 31, 2020
Debt Instrument [Line Items]
Floor interest rate	1.00%
Basis spread on variable rate	7.50%

Debt and Financing - Additional

Debt and Financing - Additional Information (Details) - USD ($)	Sep. 11, 2019	Mar. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
2014 ABL Facility Credit Agreement
Debt Instrument [Line Items]
Managed accessibility		$ 19,100,000		$ 200,000
Restricted cash		5,000,000		29,000,000
Cash, cash equivalents and managed accessibility		118,000,000		80,400,000
2014 ABL Facility Credit Agreement | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		341,300,000
Restricted cash		5,000,000
Term Loan | New Term Loan Agreement
Debt Instrument [Line Items]
Principal amount issued	$ 600,000,000
Basis spread on variable rate	7.50%
Margin step down if certain EBITDA is achieved	1.00%
Cash, cash equivalents and managed accessibility	$ 55,000,000
Minimum adjusted EBITDA	$ 200,000,000	214,600,000
Expenses qualifying as adjustment cap, percent	10.00%
Term Loan | New Term Loan Agreement | Scenario Forecast
Debt Instrument [Line Items]
Basis spread on variable rate			14.00%
Term Loan | New Term Loan Agreement | Minimum
Debt Instrument [Line Items]
Adjusted EBITDA threshold for margin step down	$ 400,000,000
Term Loan | New Term Loan Agreement | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Floor interest rate	1.00%
ABL Facility | 2014 ABL Facility Credit Agreement
Debt Instrument [Line Items]
Line of credit facility, total cash and availability		$ 59,200,000
Restricted cash				$ 29,000,000
Restricted cash threshold limit, percent				10.00%

Debt and Financing - Schedule_3

Debt and Financing - Schedule of Cash and Cash Equivalents and Managed Accessibility (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Cash and cash equivalents	$ 103.9	$ 109.2
2014 ABL Facility Credit Agreement
Debt Instrument [Line Items]
Cash and cash equivalents	103.9	109.2
Less: amounts placed into restricted cash subsequent to period end	(5)	(29)
Managed Accessibility	19.1	0.2
Total cash and cash equivalents and Managed Accessibility	$ 118	$ 80.4

Debt and Financing - Schedule_4

Debt and Financing - Schedule of Carrying Values and Estimated Fair Values of Debt Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Book Value
Debt Instrument [Line Items]
Long-term debt, fair value	$ 842.4	$ 862.2
Fair Value
Debt Instrument [Line Items]
Long-term debt, fair value	856.9	864.7
Term Loan | New Term Loan Agreement | Book Value
Debt Instrument [Line Items]
Long-term debt, fair value	543.6	559.9
Term Loan | New Term Loan Agreement | Fair Value
Debt Instrument [Line Items]
Long-term debt, fair value	566.1	559.3
Lease financing obligations | Book Value
Debt Instrument [Line Items]
Long-term debt, fair value	227.8	231.3
Lease financing obligations | Fair Value
Debt Instrument [Line Items]
Long-term debt, fair value	221.3	233.7
Second A&R CDA | Book Value
Debt Instrument [Line Items]
Long-term debt, fair value	71	71
Second A&R CDA | Fair Value
Debt Instrument [Line Items]
Long-term debt, fair value	$ 69.5	$ 71.7

Leases - Summary of Assets and

Leases - Summary of Assets and Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease right-of-use assets	$ 355.5	$ 386
Finance lease assets	2.5	2.6
Total leased assets	358	388.6
Current operating lease liabilities	118.6	120.8
Current finance lease liabilities	0.2	0.2
Operating lease liabilities, noncurrent	223	246.3
Finance lease liabilities, noncurrent	3.3	3.3
Present value of lease liabilities	$ 345.1	$ 370.6

Leases - Summary of Lease Cost

Leases - Summary of Lease Cost (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Operating lease cost	$ 43.1	$ 41.2
Short-term cost	2	3.5
Variable lease cost	2.4	1.5
Amortization of leased assets	0.1	0.2
Interest on lease liabilities	0.1	0.1
Total lease cost	$ 47.7	$ 46.5

Leases - Schedule of Remaining

Leases - Schedule of Remaining Maturities of Lease Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Operating Leases
2020	$ 114.6
2021	129.2
2022	77.8
2023	40.9
2024	16.3
After 2024	32.6
Total lease payments	411.4
Less: Imputed Interest	69.8
Present value of lease liabilities	341.6
Finance Leases
2020	0.5
2021	0.6
2022	0.6
2023	0.6
2024	0.7
After 2024	3.4
Total lease payments	6.4
Less: Imputed Interest	2.9
Present value of lease liabilities	3.5
Total
2020	115.1
2021	129.8
2022	78.4
2023	41.5
2024	17
After 2024	36
Total lease payments	417.8
Less: Imputed Interest	72.7
Present value of lease liabilities	$ 345.1	$ 370.6

Leases - Summary of Lease Term

Leases - Summary of Lease Term and Discount Rate (Details)	Mar. 31, 2020
Leases [Abstract]
Operating lease, Weighted Average Remaining Lease	3 years 7 months 6 days
Finance lease, Weighted Average Remaining Lease	9 years 6 months
Operating lease, Weighted Average Discount Rate	11.00%
Finance lease, Weighted Average Discount Rate	11.30%

Leases - Summary of Other Infor

Leases - Summary of Other Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Operating cash flows from operating leases(a)	$ 38	$ 36.3
Operating cash flows from finance leases	0.1	0.1
Financing cash flows from finance leases	0.1	0.2
Leased assets obtained in exchange for new operating lease liabilities	$ 3.7	$ 19.1

Employee Benefits - Schedule of

Employee Benefits - Schedule of Components of Our Company-Sponsored Pension Plan Costs - (Details) - Qualified and Nonqualified - Defined Benefit Pension Plans - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 9.6	$ 11.4
Expected return on plan assets	(14.9)	(14.3)
Amortization of prior service credit	(0.1)	(0.1)
Amortization of prior net pension loss	3.7	3.2
Total net periodic pension cost	$ (1.7)	$ 0.2

Employee Benefits - Additional

Employee Benefits - Additional Information (Details) - Qualified and Nonqualified - Defined Benefit Pension Plans - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Jan. 01, 2021
Defined Benefit Plan Disclosure [Line Items]
Contributions by employer	$ 2.1
Scenario Forecast
Defined Benefit Plan Disclosure [Line Items]
Deferred payments		$ 29.3

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Effective tax rate	(10.30%)	16.50%

Earnings (Loss) Per Share - Sch

Earnings (Loss) Per Share - Schedule of Basic and Dilutive Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Basic and dilutive net income (loss) available to common shareholders	$ 4.3	$ (49.1)
Basic weighted average shares outstanding	33,791	33,150
Effect of dilutive securities:
Unvested shares and stock units	1,839	0
Dilutive weighted average shares outstanding	35,630	33,150
Basic earnings (loss) per share	$ 0.13	$ (1.48)
Diluted earnings (loss) per share	$ 0.12	$ (1.48)

Earnings (Loss) Per Share - Add

Earnings (Loss) Per Share - Additional Information (Details) - shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Anti-Dilutive Unvested Shares and Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive unvested shares, options and stock units	176,000	279,000