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Indebtedness
3 Months Ended
Jun. 30, 2012
Indebtedness [Abstract]  
Indebtedness
Note 12: Indebtedness

The Company has $125,000 outstanding on 6.83 percent Senior Notes, maturing on August 12, 2020.  As of June 30, 2012, the Company also had $29,000 outstanding under its $145,000 domestic revolving credit facility which expires in August 2014.  At March 31, 2012, the Company had $9,000 outstanding on this domestic revolving credit facility.

Provisions contained in the Company's revolving credit facility and Senior Note agreements require the Company to maintain compliance with various covenants.  The Company was in compliance with its covenants as of June 30, 2012.

Modine also maintained credit agreements with foreign banks with outstanding short term borrowings at June 30, 2012 and March 31, 2012 of $21,545 and $21,296, respectively.  The foreign unused lines of credit in Europe, Brazil, and China at June 30, 2012 were approximately $33,098.  Domestic unused lines of credit at June 30, 2012 were $116,000.  In aggregate, the Company had total available lines of credit of $149,098 at June 30, 2012.

The fair value of long-term debt is estimated by discounting the future cash flows at rates offered to the Company for similar debt instruments of comparable maturities.  At June 30, 2012 and March 31, 2012, the carrying value of Modine's long-term debt approximated fair value, with the exception of the Senior Notes, which had a fair value of approximately $136,452 and $139,234 at June 30, 2012 and March 31, 2012, respectively.  The fair value of the Senior Notes is categorized within Level 2 of the hierarchy.  Refer to Note 15 for the definition of a Level 2 fair value measurement.