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Long-Term Debt | 3 Months Ended
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Mar. 31, 2014
Debt Disclosure [Abstract] |
Long-term Debt [Text Block] | 3. LONG-TERM DEBT Long-term debt consists of the following:
|  | March 31, 2014 |  | December 31, 2013
|  | (in millions)
Revolving credit facility |  | $ | — |  |  | $ | — |
Term facility |  | 148.1 |  |  | 150.0 |
7.75% Notes |  | 200.0 |  |  | 200.0 |
6.625% Notes |  | 550.0 |  |  | 550.0 |
6.25% Notes |  | 400.0 |  |  | 400.0 |
5.125% Notes |  | 200.0 |  |  | 200.0 |
Foreign credit facilities |  | 75.1 |  |  | 53.8 |
Capital lease obligations |  | 5.2 |  |  | 5.3 |
Long-term debt |  | $ | 1,578.4 |  |  | $ | 1,559.1 |
Revolving Credit Facility and Term Facility As of March 31, 2014, the revolving credit facility provided up to $523.5 million of revolving bank financing commitments through September 13, 2018. At March 31, 2014, we had $501.7 million available under the revolving credit facility. This availability reflects a reduction of $21.8 million for standby letters of credit issued against the facility. The revolving credit facility provides back-up liquidity for our foreign credit facilities. We intend to use the availability of long-term financing under the revolving credit facility to refinance any current maturities related to such debt agreements that are not otherwise refinanced on a long-term basis in their local markets. In the first quarter of 2014, we made a principal payment of $1.9 million on our term facility. In the first quarter of 2013, we terminated our class C loan facility of $72.8 million, which would have matured on June 30, 2013. Upon termination, we expensed $0.5 million of unamortized debt issuance costs related to the class C facility. We had been amortizing the debt issuance costs over the expected life of the borrowing. 5.125% Notes In 2013, we issued $200.0 million of 5.125% senior unsecured notes due 2019 (5.125% Notes). Net proceeds from the 5.125% Notes were used to redeem the remaining $190.0 million outstanding under our 9.25% senior secured notes due 2017. We paid remaining debt issuance costs of $0.2 million in the first quarter of 2014 related to the 5.125% Notes. 6.25% Notes In the first quarter of 2013, we issued $400.0 million of 6.25% senior unsecured notes due 2021 (6.25% Notes). Net proceeds from the 6.25% Notes were used to purchase and redeem the entire $300.0 million outstanding of our 7.875% senior unsecured notes due 2017 (7.875% Notes) and for other general corporate purposes. We paid debt issuance costs of $6.2 million in the first quarter of 2013 related to the 6.25% Notes. In the first quarter of 2013, we expensed $8.5 million related to tender and redemption premiums, $0.2 million of professional fees and unamortized debt issuance costs of $2.1 million related to the purchase and redemption of the 7.875% Notes. We had been amortizing the debt issuance costs for the 7.875% Notes over the expected life of the borrowing. We utilize local currency credit facilities to finance the operations of certain foreign subsidiaries. At March 31, 2014, $75.1 million was outstanding under these facilities and an additional $19.8 million was available. The weighted-average interest rate of our long-term debt outstanding was 6.3% at both March 31, 2014 and December 31, 2013.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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