INDEBTEDNESS

The following summarizes our debt activity (both current and non-current) for the three months ended March 31, 2018:



	December 31, 2017		Borrowings		Repayments			Other⁽⁴⁾		March 31, 2018
Revolving loans	$	—	$	—	$	—		$	—	$	—
Term loan⁽¹⁾	347.7		—		—			0.1		347.8
Trade receivables financing arrangement⁽²⁾	—		—		—			—		—
Other indebtedness⁽³⁾	9.1		12.7		(13.1		)	0.1		8.8
Total debt	356.8		$	12.7	$	(13.1	)	$	0.2	356.6
Less: short-term debt	7.0									6.8
Less: current maturities of long-term debt	0.5									4.9
Total long-term debt	$	349.3								$	344.9

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⁽¹⁾	The term loan is repayable in quarterly installments of 1.25% of the initial loan amount of $350.0, beginning in the first quarter of 2019, with the remaining balance payable in full on December 19, 2022. Balances are net of unamortized debt issuance costs of $2.2 and $2.3 at March 31, 2018 and December 31, 2017, respectively.


⁽²⁾	Under this arrangement, we can borrow, on a continuous basis, up to $50.0, as available. At March 31, 2018, we had $30.0 of available borrowing capacity under this facility.

⁽³⁾

Primarily includes balances under a purchase card program of $2.5 and $2.8, capital lease obligations of $2.0 and $2.1, and borrowings under a line of credit in China totaling $4.3 and $4.1, at March 31, 2018 and December 31, 2017, 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 debt assumed, foreign currency translation on any debt instruments denominated in currencies other than the U.S. dollar, and the impact of amortization of debt issuance costs associated with the term loan.

Senior Credit Facilities

A detailed description of our senior credit facilities is included in our 2017 Annual Report on Form 10-K.

At March 31, 2018, we had $32.7 and $181.9 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 3.25% at March 31, 2018.

At March 31, 2018, we were in compliance with all covenants of our senior credit agreement.