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INDEBTEDNESS | 9 Months Ended
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Oct. 01, 2016
Debt Disclosure [Abstract] |
INDEBTEDNESS | INDEBTEDNESS The following summarizes our debt activity (both current and non-current) for the nine months ended October 1, 2016:
| December 31, 2015 |  | Borrowings |  | Repayments |  | Other(4) |  | October 1, 2016
Revolving loans | $ | — |  |  | $ | 56.2 |  |  | $ | (56.2 | ) |  | $ | — |  |  | $ | — |
Term loan (1) | 348.0 |  |  | — |  |  | (4.4 | ) |  | 0.3 |  |  | 343.9 |
Trade receivables financing arrangement (2) | — |  |  | 44.0 |  |  | (44.0 | ) |  | — |  |  | — |
Other indebtedness (3) | 23.8 |  |  | 19.5 |  |  | (26.6 | ) |  | 3.4 |  |  | 20.1 |
Total debt | 371.8 |  |  | $ | 119.7 |  |  | $ | (131.2 | ) |  | $ | 3.7 |  |  | 364.0 |
Less: short-term debt | 22.1 |  |  |  |  |  |  |  |  | 14.9 |
Less: current maturities of long-term debt | 9.1 |  |  |  |  |  |  |  |  | 17.9 |
Total long-term debt | $ | 340.6 |  |  |  |  |  |  |  |  | $ | 331.2 |
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(1) | The term loan is repayable in quarterly installments of 5.0% annually, beginning in the third fiscal quarter of 2016. The remaining balance is repayable in full on September 24, 2020. Balances are net of unamortized debt issuance costs of $1.7 and $2.0 at October 1, 2016 and December 31, 2015, respectively. See Note 2 for additional details.
(2) | Under this arrangement, we can borrow, on a continuous basis, up to $50.0, as available. At October 1, 2016, we had $26.4 of available borrowing capacity under this facility.
(3) | Primarily includes balances under a purchase card program of $3.7 and $4.8, capital lease obligations of $5.2 and $1.7, and borrowings under a line of credit in China of $9.7 and $17.3 at October 1, 2016 and December 31, 2015, 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 includes $3.8 of capital lease obligations and the impact of amortization of debt issuance costs associated with the term loan, partially offset by 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 2015 Annual Report on Form 10-K. On September 29, 2016, we elected to reduce our participation foreign credit instrument facility commitment and our bilateral foreign credit instrument facility commitment by $125.0, to $175.0, and by $75.0, to $125.0, respectively. In connection with the reduction of our foreign credit instrument facility commitments, we recorded a charge of $1.3 to "Loss on early extinguishment of debt" during the third quarter of 2016 associated with the write-off of the deferred financing costs related to this previously available issuance capacity of $200.0. At October 1, 2016, we had $46.5 and $207.6 of outstanding letters of credit issued under our revolving credit and our foreign credit instrument facilities of our senior credit agreement, respectively. The weighted-average interest rate of outstanding borrowings under our senior credit agreement was approximately 2.3% at October 1, 2016. At October 1, 2016, we were in compliance with all covenants of our senior credit agreement.

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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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