| Schedule Of Long-Term Debt |
The following represents a summary of our long-term debt as of SeptemberÌý30, 2012 and DecemberÌý31, 2011:
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($ in Millions) |
Ìý |
SeptemberÌý30, 2012 |
Ìý |
Debt Instrument |
Type |
Ìý |
Annual Effective Interest Rate |
Ìý |
Final Maturity |
Ìý |
Total Face Amount |
Ìý |
Total Debt |
Ìý |
$1.25 Billion Term Loan |
Variable |
Ìý |
1.60% |
Ìý |
2016 |
Ìý |
$ |
922.1 |
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(1) |
$ |
922.1 |
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(1) |
$700 Million 4.875% 2021 Senior Notes |
Fixed |
Ìý |
4.88% |
Ìý |
2021 |
Ìý |
700.0 |
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Ìý |
699.4 |
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(2) |
$1.3 Billion Senior Notes: |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
$500 Million 4.80% 2020 Senior Notes |
Fixed |
Ìý |
4.80% |
Ìý |
2020 |
Ìý |
500.0 |
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Ìý |
499.1 |
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(3) |
$800 Million 6.25% 2040 Senior Notes |
Fixed |
Ìý |
6.25% |
Ìý |
2040 |
Ìý |
800.0 |
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Ìý |
790.2 |
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(4) |
$400 Million 5.90% 2020 Senior Notes |
Fixed |
Ìý |
5.90% |
Ìý |
2020 |
Ìý |
400.0 |
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Ìý |
398.2 |
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(5) |
$325 Million Private Placement Senior Notes: |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Series 2008A - Tranche A |
Fixed |
Ìý |
6.31% |
Ìý |
2013 |
Ìý |
270.0 |
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Ìý |
270.0 |
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Ìý |
Series 2008A - Tranche B |
Fixed |
Ìý |
6.59% |
Ìý |
2015 |
Ìý |
55.0 |
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Ìý |
55.0 |
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Ìý |
$1.75 Billion Credit Facility: |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Revolving Loan |
Variable |
Ìý |
1.47% |
Ìý |
2016 |
Ìý |
1,750.0 |
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Ìý |
250.0 |
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(6) |
Total debt |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
$ |
5,397.1 |
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Ìý |
$ |
3,884.0 |
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Ìý |
Less current portion |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
369.7 |
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Ìý |
Long-term debt |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
$ |
3,514.3 |
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Ìý |
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($ in Millions) |
Ìý |
December 31, 2011 |
Ìý |
Debt Instrument |
Type |
Ìý |
Annual Effective Interest Rate |
Ìý |
Final Maturity |
Ìý |
Total Face Amount |
Ìý |
Total Debt |
Ìý |
$1.25 Billion Term Loan |
Variable |
Ìý |
1.40% |
Ìý |
2016 |
Ìý |
$ |
972.0 |
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(1) |
$ |
972.0 |
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(1) |
$700 Million 4.875% 2021 Senior Notes |
Fixed |
Ìý |
4.88% |
Ìý |
2021 |
Ìý |
700.0 |
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Ìý |
699.3 |
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(2) |
$1.3 Billion Senior Notes: |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
$500 Million 4.80% 2020 Senior Notes |
Fixed |
Ìý |
4.80% |
Ìý |
2020 |
Ìý |
500.0 |
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Ìý |
499.1 |
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(3) |
$800 Million 6.25% 2040 Senior Notes |
Fixed |
Ìý |
6.25% |
Ìý |
2040 |
Ìý |
800.0 |
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Ìý |
790.1 |
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(4) |
$400 Million 5.90% 2020 Senior Notes |
Fixed |
Ìý |
5.90% |
Ìý |
2020 |
Ìý |
400.0 |
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Ìý |
398.0 |
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(5) |
$325 Million Private Placement Senior Notes: |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Series 2008A - Tranche A |
Fixed |
Ìý |
6.31% |
Ìý |
2013 |
Ìý |
270.0 |
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Ìý |
270.0 |
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Ìý |
Series 2008A - Tranche B |
Fixed |
Ìý |
6.59% |
Ìý |
2015 |
Ìý |
55.0 |
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Ìý |
55.0 |
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Ìý |
$1.75 Billion Credit Facility: |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Revolving Loan |
Variable |
Ìý |
—% |
Ìý |
2016 |
Ìý |
1,750.0 |
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Ìý |
— |
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(6) |
Total debt |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
$ |
5,447.0 |
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Ìý |
$ |
3,683.5 |
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Ìý |
Less current portion |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
74.8 |
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Ìý |
Long-term debt |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
$ |
3,608.7 |
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Ìý |
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(1) |
As of SeptemberÌý30, 2012 and DecemberÌý31, 2011, $327.9 million and $278.0 million, respectively, had been paid down on the original $1.25 billion term loan and, of the remaining term loan, $99.7 million and $74.8 million, respectively, was classified as Current portion of debt. The current classification is based upon the principal payment terms of the arrangement requiring principal payments on each three-month anniversary following the funding of the term loan.
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(2) |
As of SeptemberÌý30, 2012 and DecemberÌý31, 2011, the $700 million 4.88 percent senior notes were recorded at a par value of $700 million less unamortized discounts of $0.6 million and $0.7 million, respectively, based on an imputed interest rate of 4.89 percent.
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(3) |
As of SeptemberÌý30, 2012 and DecemberÌý31, 2011, the $500 million 4.80 percent senior notes were recorded at a par value of $500 million less unamortized discounts of $0.9 million and $0.9 million, respectively, based on an imputed interest rate of 4.83 percent.
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(4) |
As of SeptemberÌý30, 2012 and DecemberÌý31, 2011, the $800 million 6.25 percent senior notes were recorded at par value of $800 million less unamortized discounts of $9.8 million and $9.9 million, respectively, based on an imputed interest rate of 6.38 percent.
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(5) |
As of SeptemberÌý30, 2012 and DecemberÌý31, 2011, the $400 million 5.90 percent senior notes were recorded at a par value of $400 million less unamortized discounts of $1.8 million and $2.0 million, respectively, based on an imputed interest rate of 5.98 percent.
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(6) |
As of SeptemberÌý30, 2012 and DecemberÌý31, 2011, $250.0 million and no revolving loans were drawn under the credit facility, respectively, and the principal amount of letter of credit obligations totaled $23.1 million and $23.5 million for each period, respectively, thereby reducing available borrowing capacity to $1.48 billion and $1.73 billion for each period, respectively.
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