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Quarterly report pursuant to Section 13 or 15(d)

DEBT AND CREDIT FACILITIES (Tables)

v2.4.0.8
DEBT AND CREDIT FACILITIES (Tables)
3 Months Ended
Mar. 31, 2014
Debt Disclosure [Abstract] Ìý
Schedule Of Long-Term Debt
The following represents a summary of our long-term debt as of MarchÌý31, 2014 and DecemberÌý31, 2013:
($ in Millions)
Ìý
MarchÌý31, 2014
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
$
699.5

(1)
$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
499.3

(2)
$800 Million 6.25% 2040 Senior Notes
Ìý
Fixed
Ìý
6.34%
Ìý
2040
Ìý
800.0

Ìý
790.5

(3)
$400 Million 5.90% 2020 Senior Notes
Ìý
Fixed
Ìý
5.98%
Ìý
2020
Ìý
400.0

Ìý
398.5

(4)
$500 Million 3.95% 2018 Senior Notes
Ìý
Fixed
Ìý
4.14%
Ìý
2018
Ìý
500.0

Ìý
496.7

(5)
$1.75 Billion Credit Facility:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Revolving Loan
Ìý
Variable
Ìý
1.68%
Ìý
2017
Ìý
1,750.0

Ìý
175.0

(6)
Equipment Loans
Ìý
Fixed
Ìý
Various
Ìý
2020
Ìý
164.8

Ìý
156.5

Ìý
Short-Term Borrowing Arrangements
Ìý
Ìý
Ìý
Ìý
Ìý
2014
Ìý
75.7

Ìý
75.7


Fair Value Adjustment to Interest Rate Hedge
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
—

Ìý
Total debt
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
$
4,890.5

Ìý
$
3,291.7

Ìý
Less: Short-term and current portion of
ÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýÌýlong-term debt
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
96.9

Ìý
Long-term debt
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
$
3,194.8

Ìý
($ in Millions)
Ìý
December 31, 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
4.88%
Ìý
2021
Ìý
700.0

Ìý
699.4

(1)
$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

(2)
$800 Million 6.25% 2040 Senior Notes
Ìý
Fixed
Ìý
6.34%
Ìý
2040
Ìý
800.0

Ìý
790.4

(3)
$400 Million 5.90% 2020 Senior Notes
Ìý
Fixed
Ìý
5.98%
Ìý
2020
Ìý
400.0

Ìý
398.4

(4)
$500 Million 3.95% 2018 Senior Notes
Ìý
Fixed
Ìý
4.14%
Ìý
2018
Ìý
500.0

Ìý
496.5

(5)
$1.75 Billion Credit Facility:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Revolving Loan
Ìý
Variable
Ìý
1.64%
Ìý
2017
Ìý
1,750.0

Ìý
—

(6)
Equipment Loans
Ìý
Fixed
Ìý
Various
Ìý
2020
Ìý
164.8

Ìý
161.7

Ìý
Fair Value Adjustment to Interest Rate Hedge
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
(2.1
)
Ìý
Total debt
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
$
4,814.8

Ìý
$
3,043.5

Ìý
Less current portion
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
20.9

Ìý
Long-term debt
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
$
3,022.6

Ìý
(1)
As of MarchÌý31, 2014 and DecemberÌý31, 2013, the $700 million 4.875 percent senior notes were recorded at a par value of $700 million less unamortized discounts of $0.5 million and $0.6 million, respectively, based on an imputed interest rate of 4.89 percent.
(2)
As of MarchÌý31, 2014 and DecemberÌý31, 2013, the $500 million 4.80 percent senior notes were recorded at a par value of $500 million less unamortized discounts of $0.7 million and $0.8 million, respectively, based on an imputed interest rate of 4.83 percent.
(3)
As of MarchÌý31, 2014 and DecemberÌý31, 2013, the $800 million 6.25 percent senior notes were recorded at a par value of $800 million less unamortized discounts of $9.5 million and $9.6 million, respectively, based on an imputed interest rate of 6.34 percent.
(4)
As of MarchÌý31, 2014 and DecemberÌý31, 2013, the $400 million 5.90 percent senior notes were recorded at a par value of $400 million less unamortized discounts of $1.5 million and $1.6 million, respectively, based on an imputed interest rate of 5.98 percent.
(5)
As of MarchÌý31, 2014 and DecemberÌý31, 2013, the $500 million 3.95 percent senior notes were recorded at a par value of $500 million less unamortized discounts of $3.3 million and $3.5 million, respectively, based on an imputed interest rate of 4.14 percent.
(6)
As of MarchÌý31, 2014, $175.0 million of revolving loans were drawn under the credit facility. As of DecemberÌý31, 2013, no revolving loans were drawn under the credit facility. As of MarchÌý31, 2014 and DecemberÌý31, 2013, the principal amount of letter of credit obligations totaled $5.2 million and $8.4 million, respectively, thereby reducing available borrowing capacity to $1.6 billion and $1.7 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 revolving credit agreement, based on the principal amounts outstanding at MarchÌý31, 2014:
Ìý
(In Millions)
Ìý
Maturities of Debt
2014 (April 1 - December 31)
$
91.5

2015
21.8

2016
22.7

2017
23.6

2018
524.6

2019 and thereafter
2,448.0

Total maturities of debt
$
3,132.2