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Debt | 3 Months Ended
--- | ---
Mar. 31, 2015
Debt Disclosure [Abstract] |
DEBT | DEBT Debt consisted of the following at March 31, 2015:
| March 31, 2015
| 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 |
3.84% $125 million Senior Notes due September 19, 2024 | 125,000 |  |  | — |  |  | 125,000 |
$800 million Credit Agreement, interest at LIBOR plus 75 basis points | 173,170 |  |  | 11,009 |  |  | 184,179 |
Other local arrangements | — |  |  | 14,693 |  |  | 14,693 |
Total debt | 498,170 |  |  | 25,702 |  |  | 523,872 |
Less: current portion | (100,000 | ) |  | (14,693 | ) |  | (114,693 | )
Total long-term debt | $ | 398,170 |  |  | $ | 11,009 |  |  | $ | 409,179 |
As of March 31, 2015, the Company had $611.4 million of availability remaining under the credit agreement. In March 2015, the Company entered into an agreement to issue and sell Euro 125 million of fifteen-year Senior Notes in a private placement. The Company will issue the Euro 125 million with a fixed interest rate of 1.47% ("1.47% Senior Notes") in June 2015. The Senior Notes are senior unsecured obligations of the Company and will mature in June 2030. The Company will designate the 1.47% Senior Notes as a hedge of a portion of its net investment in euro-denominated foreign subsidiaries to reduce foreign currency risk associated with the net investment in these operations. Changes in the value of this debt resulting from fluctuations in the euro to U.S. dollar exchange rate will be recorded as foreign currency translation adjustments within other comprehensive income (loss). Interest on the 1.47% Senior Notes is payable 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, at a price equal to 100% of the principal amount thereof plus accrued and unpaid interest, plus in some instances, a "make-whole" prepayment premium and a swap related currency loss. 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 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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