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Debt | 6 Months Ended
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Jun. 30, 2014
Debt Disclosure [Abstract] |
DEBT | DEBT Debt consisted of the following at June 30, 2014:
| June 30, 2014
| U.S. Dollar |  | Other Principal Trading Currencies |  | Total
6.30% $100 million Senior Notes due June 25, 2015 | $ | 100,000 |  |  | $ | — |  |  | $ | 100,000 |
3.67% $50 million Senior Notes due December 17, 2022 | 50,000 |  |  | — |  |  | 50,000 |
4.10% $50 million Senior Notes due September 19, 2023 | 50,000 |  |  | — |  |  | 50,000 |
Credit agreement | 201,811 |  |  | 43,553 |  |  | 245,364 |
Other local arrangements | 1,355 |  |  | 19,951 |  |  | 21,306 |
Total debt | 403,166 |  |  | 63,504 |  |  | 466,670 |
Less: current portion | (101,355 | ) |  | (19,951 | ) |  | (121,306 | )
Total long-term debt | $ | 301,811 |  |  | $ | 43,553 |  |  | $ | 345,364 |
As of June 30, 2014, the Company had $550.9 million of availability remaining under the credit agreement. The Company was in compliance with its covenants at June 30, 2014. In June 2014, the Company entered into an agreement to issue and sell $250 million of ten-year Senior Notes in a private placement. The Company will issue $125 million with a fixed interest rate of 3.84% ("3.84% Senior Notes") in September 2014 and $125 million with a fixed interest rate of 4.24% ("4.24% Senior Notes") in June 2015. The Senior Notes are senior unsecured obligations of the Company. Interest on the 3.84% Senior Notes is payable semi-annually in March and September of each year, beginning in March 2015. Interest on the 4.24% Senior Notes is payable semi-annually in June and December of each year, beginning in December 2015. The Company may at any time prepay the Senior Notes, in whole or in part (but in an amount not less than 10% of the original aggregate principal amount), at a price equal to 100% of the principal amount thereof plus accrued and unpaid interest, plus a "make-whole" prepayment premium. The Senior Notes contain customary affirmative and negative covenants for agreements of this type that are substantially similar to those contained in the previously issued debt of the Company. The Senior Notes also contain customary events of default with customary grace periods, as applicable.

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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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