| Schedule Of Long-Term Debt |
The following represents a summary of our long-term debt as of SeptemberÌý30, 2013 and December 31, 2012:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
($ in Millions) |
Ìý |
SeptemberÌý30, 2013 |
Ìý |
Debt Instrument |
Ìý |
Type |
Ìý |
Annual Effective Interest Rate |
Ìý |
Final Maturity |
Ìý |
Total Face Amount |
Ìý |
Total Debt |
Ìý |
$700 Million 4.875% 2021 Senior Notes |
Ìý |
Fixed |
Ìý |
4.89% |
Ìý |
2021 |
Ìý |
$ |
700.0 |
|
Ìý |
$ |
699.4 |
|
(2) |
$1.3 Billion Senior Notes: |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
$500 Million 4.80% 2020 Senior Notes |
Ìý |
Fixed |
Ìý |
4.83% |
Ìý |
2020 |
Ìý |
500.0 |
|
Ìý |
499.2 |
|
(3) |
$800 Million 6.25% 2040 Senior Notes |
Ìý |
Fixed |
Ìý |
6.34% |
Ìý |
2040 |
Ìý |
800.0 |
|
Ìý |
790.4 |
|
(4) |
$400 Million 5.90% 2020 Senior Notes |
Ìý |
Fixed |
Ìý |
5.98% |
Ìý |
2020 |
Ìý |
400.0 |
|
Ìý |
398.4 |
|
(5) |
$500 Million 3.95% 2018 Senior Notes |
Ìý |
Fixed |
Ìý |
4.14% |
Ìý |
2018 |
Ìý |
500.0 |
|
Ìý |
496.3 |
|
(6) |
$1.75 Billion Credit Facility: |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Revolving Loan |
Ìý |
Variable |
Ìý |
2.08% |
Ìý |
2017 |
Ìý |
1,750.0 |
|
Ìý |
380.0 |
|
(7) |
Equipment Loans |
Ìý |
Fixed |
Ìý |
Various |
Ìý |
2020 |
Ìý |
62.1 |
|
Ìý |
62.1 |
|
Ìý |
Fair Value Adjustment to Interest Rate Hedge |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
1.7 |
|
Ìý |
Total debt |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
$ |
4,712.1 |
|
Ìý |
$ |
3,327.5 |
|
Ìý |
Less current portion |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
7.9 |
|
Ìý |
Long-term debt |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
$ |
3,319.6 |
|
Ìý |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
($ in Millions) |
Ìý |
December 31, 2012 |
Ìý |
Debt Instrument |
Ìý |
Type |
Ìý |
Annual Effective Interest Rate |
Ìý |
Final Maturity |
Ìý |
Total Face Amount |
Ìý |
Total Debt |
Ìý |
$1.25 Billion Term Loan |
Ìý |
Variable |
Ìý |
1.83% |
Ìý |
2016 |
Ìý |
$ |
847.1 |
|
(1) |
$ |
847.1 |
|
(1) |
$700 Million 4.875% 2021 Senior Notes |
Ìý |
Fixed |
Ìý |
4.88% |
Ìý |
2021 |
Ìý |
700.0 |
|
Ìý |
699.4 |
|
(2) |
$1.3 Billion Senior Notes: |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
$500 Million 4.80% 2020 Senior Notes |
Ìý |
Fixed |
Ìý |
4.80% |
Ìý |
2020 |
Ìý |
500.0 |
|
Ìý |
499.2 |
|
(3) |
$800 Million 6.25% 2040 Senior Notes |
Ìý |
Fixed |
Ìý |
6.25% |
Ìý |
2040 |
Ìý |
800.0 |
|
Ìý |
790.2 |
|
(4) |
$400 Million 5.90% 2020 Senior Notes |
Ìý |
Fixed |
Ìý |
5.90% |
Ìý |
2020 |
Ìý |
400.0 |
|
Ìý |
398.2 |
|
(5) |
$500 Million 3.95% 2018 Senior Notes |
Ìý |
Fixed |
Ìý |
4.14% |
Ìý |
2018 |
Ìý |
500.0 |
|
Ìý |
495.7 |
|
(6) |
$1.75 Billion Credit Facility: |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Revolving Loan |
Ìý |
Variable |
Ìý |
2.02% |
Ìý |
2017 |
Ìý |
1,750.0 |
|
Ìý |
325.0 |
|
(7) |
Total debt |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
$ |
5,497.1 |
|
Ìý |
$ |
4,054.8 |
|
Ìý |
Less current portion |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
94.1 |
|
Ìý |
Long-term debt |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
$ |
3,960.7 |
|
Ìý |
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌý
|
|
(1) |
During the first quarter of 2013, the term loan was repaid in full through repayments totaling $847.1 million. As of DecemberÌý31, 2012, $402.8 million had been paid on the original $1.25 billion term loan and, of the remaining term loan, $94.1 million was classified as Current portion of debt. The current classification was based upon the principal payment terms of the arrangement requiring principal payments on each three-month anniversary following the funding of the term loan.
|
|
|
(2) |
As of SeptemberÌý30, 2013 and DecemberÌý31, 2012, the $700 million 4.875 percent senior notes were recorded at a par value of $700 million less unamortized discounts of $0.6 million for each period, based on an imputed interest rate of 4.89 percent.
|
|
|
(3) |
As of SeptemberÌý30, 2013 and DecemberÌý31, 2012, the $500 million 4.80 percent senior notes were recorded at a par value of $500 million less unamortized discounts of $0.8 million for each period, based on an imputed interest rate of 4.83 percent.
|
|
|
(4) |
As of SeptemberÌý30, 2013 and DecemberÌý31, 2012, the $800 million 6.25 percent senior notes were recorded at par value of $800 million less unamortized discounts of $9.6 million and $9.8 million, respectively, based on an imputed interest rate of 6.34 percent.
|
|
|
(5) |
As of SeptemberÌý30, 2013 and DecemberÌý31, 2012, the $400 million 5.90 percent senior notes were recorded at a par value of $400 million less unamortized discounts of $1.6 million and $1.8 million, respectively, based on an imputed interest rate of 5.98 percent.
|
|
|
(6) |
As of SeptemberÌý30, 2013 and DecemberÌý31, 2012, the $500 million 3.95 percent senior notes were recorded at a par value of $500 million less unamortized discounts of $3.7 million and $4.3 million, respectively, based on an imputed interest rate of 4.14 percent.
|
|
|
(7) |
As of SeptemberÌý30, 2013 and DecemberÌý31, 2012, $380.0 million and $325.0 million revolving loans were drawn under the credit facility, respectively, and the principal amount of letter of credit obligations totaled $27.7 million for each period, thereby reducing available borrowing capacity to $1.3 billion and $1.4 billion for each period, respectively.
|
|
| Schedule of Maturities of Long-term Debt [Table Text Block] |
Debt Maturities
The following represents a summary of our maturities of debt instruments, excluding borrowings on the amended credit agreement, based on the principal amounts outstanding at SeptemberÌý30, 2013:
|
|
|
|
|
Ìý |
(In Millions) |
Ìý |
Maturities of Debt |
2013 (October 1 - December 31) |
$ |
1.9 |
|
2014 |
7.9 |
|
2015 |
8.3 |
|
2016 |
8.6 |
|
2017 |
8.9 |
|
2018 and thereafter |
2,926.5 |
|
Total maturities of debt |
$ |
2,962.1 |
|
|