XML 60 R16.htm IDEA: XBRL DOCUMENT
v3.2.0.727

INDEBTEDNESS | 6 Months Ended
--- | ---
Jun. 27, 2015
INDEBTEDNESS |
INDEBTEDNESS | (10)INDEBTEDNESS The following summarizes our debt activity (both current and non-current) for the six months ended June 27, 2015:
|  | December 31, |  |  |  |  |  |  |  | June 27, |
|  | 2014 |  | Borrowings |  | Repayments |  | Other (4) |  | 2015 |
Domestic revolving loan facility |  | $ | 133.0 |  | $ | 325.0 |  | $ | (217.0 | ) | $ | — |  | $ | 241.0 |
Term loan (1) |  | 575.0 |  | — |  | (7.2 | ) | — |  | 567.8 |
6.875% senior notes, due in August 2017 |  | 600.0 |  | — |  | — |  | — |  | 600.0 |
Trade receivables financing arrangement (2) |  | 10.0 |  | 95.0 |  | (88.0 | ) | — |  | 17.0 |
Other indebtedness (3) |  | 51.7 |  | 1.3 |  | (3.6 | ) | (0.3 | ) | 49.1 |
Total debt |  | 1,369.7 |  | $ | 421.3 |  | $ | (315.8 | ) | $ | (0.3 | ) | 1,474.9 |
Less: short-term debt |  | 181.1 |  |  |  |  |  |  |  | 294.1 |
Less: current maturities of long-term debt |  | 30.8 |  |  |  |  |  |  |  | 37.5 |
Total long-term debt |  | $ | 1,157.8 |  |  |  |  |  |  |  | $ | 1,143.3 |
| (1) |  | The term loan is repayable in quarterly installments of 5.0% annually, and payments began during our second fiscal quarter of 2015. The remaining balance is repayable in full on December 23, 2018.
| (2) |  | Under this arrangement, we can borrow, on a continuous basis, up to $80.0, as available. At June 27, 2015, we had $50.2 of available borrowing capacity under this facility after giving effect to outstanding borrowings of $17.0.
| (3) |  | Primarily included balances under a purchase card program of $30.2 and $32.1 and capital lease obligations of $13.0 and $13.6 at June 27, 2015 and December 31, 2014, respectively. The purchase card program allows for payment beyond the normal payment terms for goods and services acquired under the program. As this arrangement extends the payment of these purchases beyond their normal payment terms through third-party lending institutions, we have classified these amounts as short-term debt.
| (4) |  | “Other” primarily included debt assumed and foreign currency translation on any debt instruments denominated in currencies other than the U.S. dollar.
Senior Credit Facilities A detailed description of our senior credit facilities is included in our 2014 Annual Report on Form 10-K. At June 27, 2015, we had $53.1 and $679.5 of outstanding letters of credit issued under our revolving credit and our foreign credit instrument facilities of our senior credit agreement, respectively. In addition, we had $5.6 of letters of credit outstanding under separate arrangements in China and India. The weighted-average interest rate of outstanding borrowings under our senior credit facilities was approximately 1.8% at June 27, 2015. At June 27, 2015, we were in compliance with all covenants of our senior credit facilities and our senior notes. Restrictions on our ability to repurchase shares or pay dividends are described in our 2014 Annual Report on Form 10-K.

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration