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Borrowings | 12 Months Ended
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Dec. 31, 2013
Debt Disclosure [Abstract] |
Borrowings and Lines of Credit [Text Block] | 10. Borrowings and Lines of Credit Borrowings consist of the following:
| December 31, 2013 |  | December 31, 2012
Short-term: |  |  |
Current portion of long-term debt | $ | 2,778 |  |  | $ | 3,266 |
Commercial paper | 226,500 |  |  | 607,500 |
| $ | 229,278 |  |  | $ | 610,766 |
| December 31, 2013 |  | December 31, 2012
Long-term: |  |  |
4.875% 10-year notes due October 15, 2015 | $ | 299,638 |  |  | $ | 299,441 |
5.45% 10-year notes due March 15, 2018 | 348,598 |  |  | 348,268 |
2.125% 7-year notes due December 1, 2020 (euro-denominated) | 411,500 |  |  | — |
4.30% 10-year notes due March 1, 2021 | 449,813 |  |  | 449,787 |
6.65% 30-year debentures due June 1, 2028 | 199,483 |  |  | 199,448 |
5.375% 30-year debentures due October 15, 2035 | 296,526 |  |  | 296,367 |
6.60% 30-year notes due March 15, 2038 | 247,859 |  |  | 247,771 |
5.375% 30-year notes due March 1, 2041 | 345,671 |  |  | 345,511 |
Other | 2,891 |  |  | 6,023 |
Total long-term debt | 2,601,979 |  |  | 2,192,616 |
Less current portion | (2,778 | ) |  | (3,266 | )
| $ | 2,599,201 |  |  | $ | 2,189,350 |
The Company maintains a $1.0 billion unsecured revolving credit facility with a syndicate of banks (the "Credit Agreement") which expires on November 10, 2016. At the Company's election, loans under the Credit Agreement will bear interest at a Eurodollar or Sterling rate based on LIBOR, plus an applicable margin ranging from 0.565% to 1.225% (subject to adjustment based on the credit rating accorded the Company's senior unsecured debt by S&P and Moody's), or at a base rate pursuant to a formula defined in the Credit Agreement. In addition, the Credit Agreement requires the Company to pay a facility fee and imposes various restrictions on the Company such as, among other things, the requirement for the Company to maintain an interest coverage ratio of EBITDA to consolidated net interest expense of not less than 3.0 to 1. The Company was in compliance with this covenant and its other long-term debt covenants at December 31, 2013 and had a coverage ratio of 13.2 to 1. The Company primarily uses this facility as liquidity back-up for its commercial paper program and has not drawn down any loans under the $1.0 billion facility and does not anticipate doing so. The Company generally uses commercial paper borrowings for general corporate purposes, funding of acquisitions, and the repurchases of its common stock. On December 4, 2013, the Company issued €300.0 million of 2.125% euro-denominated notes due 2020. The proceeds of $403,776 from the sale of the notes, net of discounts and issuance costs, were used to repay commercial paper. In the fourth quarter of 2012, the Company issued commercial paper in the amount of $607,500, used principally to fund the Anthony acquisition. On February 22, 2011, the Company issued $450.0 million of 4.30% Notes due 2021 and $350.0 million of 5.375% Notes due 2041. The proceeds of $788,971 from the sale of the notes, net of discounts and issuance costs, were used to repay commercial paper, including commercial paper issued to repay the Company’s $400.0 million of 6.50% notes, which matured February 15, 2011, and for other general corporate purposes, including the acquisition of Harbison-Fischer. The long-term note borrowings presented above are net of unamortized discounts of $9,196 and $9,222 at December 31, 2013 and 2012, respectively. The debentures presented above include unamortized discounts of $3,991 and $4,185 at December 31, 2013 and 2012, respectively. The discounts are being amortized to interest expense using the effective interest rate method over the life of the issuances. The notes and debentures are redeemable at the option of Dover in whole or in part at any time at a redemption price that includes a make-whole premium, with accrued interest to the redemption date. Interest expense and interest income for the years ended December 31, 2013, 2012 and 2011 were as follows:
| Years Ended December 31,
| 2013 |  | 2012 |  | 2011
Interest expense | $ | 124,647 |  |  | $ | 125,995 |  |  | $ | 124,783 |
Interest income | (3,905 | ) |  | (4,854 | ) |  | (9,258 | )
Interest expense, net | $ | 120,742 |  |  | $ | 121,141 |  |  | $ | 115,525 |
The weighted average interest rate for short-term commercial paper borrowings was 0.1% for 2013 and 0.2% for 2012. Scheduled maturities of long-term debt for the years ending December 31 are as follows:
2014 | $ | 2,778 |
2015 | 299,638 |
2016 | — |
2017 | — |
2018 | 348,598 |
2019 and thereafter | 1,950,965 |
| $ | 2,601,979 |
As of December 31, 2013, the Company had approximately $137,671 outstanding in letters of credit and guarantees with financial institutions, which expire at various dates in 2014 through 2018. These letters of credit are primarily maintained as security for insurance, warranty and other performance obligations.

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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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