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Long-term Debt | 9 Months Ended
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Sep. 30, 2016
Long-term Debt. |
Long-term Debt | Note 12—Long-term Debt Long-term debt is summarized as follows:
|  | September 30, |  | December 31, |  | Fair Value (1) |  | Fair Value (1) |
(in millions) |  | 2016 |  | 2015 |  | 2016 |  | 2015 |
3.75% notes due 2022 |  | $ | 350.0 |  | $ | 350.0 |  | $ | 360.7 |  | $ | 349.3 |
5.125% notes due 2020 |  |  | 250.0 |  |  | 250.0 |  |  | 272.0 |  |  | 268.6 |
6.125% notes due 2016 |  |  | - |  |  | 150.0 |  |  | - |  |  | 152.9 |
Unamortized discount and debt issuance costs |  |  | (3.8) |  |  | (4.6) |  |  |  |  |  |  |
Total long term-debt |  |  | 596.2 |  |  | 745.4 |  |  |  |  |  |  |
Less current portion of long-term debt |  |  | - |  |  | (149.8) |  |  |  |  |  |  |
Total long term-debt, net of current portion |  | $ | 596.2 |  | $ | 595.6 |  |  |  |  |  |  |
| (1) |  | The fair value is estimated based on current yield rates plus the Company’s estimated credit spread available for financings with similar terms and maturities. Based on these inputs, debt instruments are classified as Level 2 in the fair value hierarchy.
Repayment of Senior Unsecured Notes In August 2016, the Company utilized cash on hand to repay the outstanding principal balance of $150.0 million on the 6.125% senior unsecured notes. Revolving Credit Facilities The Company has a $600.0 million revolving credit facility arrangement under its Third Amended and Restated Credit Agreement (the “Amended Credit Agreement”) administered by JPMorgan Chase Bank, N.A. At September 30, 2016 and December 31, 2015, there were no borrowings outstanding under the revolving credit facility agreement. Covenants and Limitations Under the Company’s debt and credit facilities, the Company is required to meet various restrictive covenants and limitations, including limitations on certain leverage ratios, interest coverage and limits on outstanding debt balances held by certain subsidiaries. The Company was in compliance with all covenants and limitations as of September 30, 2016 and December 31, 2015.

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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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