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Long-Term Debt | 6 Months Ended
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Jun. 30, 2014
Debt Disclosure [Abstract] |
Long-Term Debt | Long-Term Debt: Long-term debt at June 30, 2014 and December 31, 2013 consisted of the following:
| June 30, |  | December 31,
| 2014 |  | 2013
| (In thousands)
5.10% Senior notes, net of unamortized discount of $20 at June 30, 2014 and $36 at December 31, 2013 | $ | 324,980 |  |  | $ | 324,964 |
4.50% Senior notes, net of unamortized discount of $2,028 at June 30, 2014 and $2,186 at December 31, 2013 | 347,972 |  |  | 347,814 |
Commercial paper notes | 363,000 |  |  | 363,000 |
Fixed-rate foreign borrowings | 4,951 |  |  | 7,879 |
Variable-rate foreign bank loans | 22,266 |  |  | 34,910 |
Miscellaneous | 197 |  |  | 297 |
Total long-term debt | 1,063,366 |  |  | 1,078,864 |
Less amounts due within one year | 377,521 |  |  | 24,554 |
Long-term debt, less current portion | $ | 685,845 |  |  | $ | 1,054,310 |
On February 7, 2014, we entered into a new $750.0 million credit facility. The five-year, revolving, unsecured credit agreement (hereinafter referred to as the February 2014 credit agreement) matures on February 7, 2019 and (i) replaces our previous $750.0 million amended and restated credit agreement dated as of September 22, 2011; (ii) provides for an additional $250.0 million in credit, if needed, subject to the terms of the agreement; and (iii) provides for the ability to extend the maturity date under certain conditions. Borrowings bear interest at variable rates based on the London Inter-Bank Offered Rate (LIBOR) for deposits in the relevant currency plus an applicable margin which ranges from 0.900% to 1.500%, depending on the Company’s credit rating from Standard & Poor’s Ratings Services (S&P) and Moody’s Investors Services (Moody’s). The applicable margin on the facility was 1.000% as of June 30, 2014. As of June 30, 2014, there were no borrowings outstanding under the February 2014 credit agreement. At June 30, 2014, we had $363.0 million of commercial paper notes (the “Notes”) outstanding bearing a weighted-average interest rate of approximately 0.25% and a weighted-average maturity of 20 days. In the second quarter of 2014, the Notes were reclassified from Long-term debt to Current portion of long-term debt in our condensed consolidated balance sheet. Our $325.0 million aggregate principal amount of senior notes, issued on January 20, 2005, mature on February 1, 2015. At June 30, 2014, we have classified these senior notes as long-term based on our ability and intent to refinance them on a long-term basis through the issuance of new senior notes or borrowings under the February 2014 credit agreement.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 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 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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