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DEBT (Tables)
 12 Months Ended
Dec. 31, 2012
Summary of Debt

A summary of debt is set forth in the following table:

 

     December 31,
2012		      December 31,
2011		  
     (In thousands)  

Receivables credit facility, effective interest rate of 1.06% and 1.15% as of December 31, 2012 and December 31, 2011, respectively, due October 11, 2014

    $ 109,000       $ 109,000   

Senior credit facility — term loan, effective interest rate of 1.71% and 2.08% as of December 31, 2012 and 2011, respectively, due October 11, 2016

      135,000         150,000   

Senior notes, net of discount of $514 as of December 31, 2011, interest at 5.75% payable semi-annually, due August 1, 2013, redeemed July 26, 2012

      —        399,486   

Senior notes, net of discount of $32 and $38 as of December 31, 2012 and 2011, respectively, interest at 6.50% payable semi-annually, due March 15, 2018

      149,968         149,962   

Senior notes, net of discount of $338 as of December 31, 2012 , interest at 3.90% payable semi-annually, due June 15, 2022

      399,662         —  
  

 

 

     

 

 

  

Total

      793,630         808,448   

Less current portion

      15,000         15,000   
  

 

 

     

 

 

  

Total long-term debt

    $ 778,630       $ 793,448   
  

 

 

     

 

 

  
Additional Information On Variable Rate Debt

Additional information regarding PCA’s variable rate debt is shown below:

 

     Reference Interest Rate     Applicable Margin  
     December 31,     December 31,  
     2012     2011     2012     2011  

Receivables credit facility

      0.21 %      0.30 %      0.85 %      0.85 % 

Senior credit facility

      0.21 %      0.58 %      1.50 %      1.50 % 
Summary of Drawings Under Revolving Credit Facilities

A summary of the Company’s drawings under the receivables credit facility and the revolving credit facility, including the impact of $13.7 million of outstanding letters of credit, as of December 31, 2012 follows:

 

     Commitments      Utilized      Available  
     (In thousands)  

Receivables credit facility

    $ 200,000       $ 109,000       $ 91,000   

Revolving credit facility

      250,000         13,709         236,291   
  

 

 

     

 

 

     

 

 

  
   $ 450,000       $ 122,709       $ 327,291