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5. Notes Payable and Long-Term Debt | 12 Months Ended
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Dec. 31, 2013
Debt Disclosure [Abstract] |
Notes Payable and Long-term Debt | 5.NOTES PAYABLE AND LONG-TERM DEBT Notes payable includes amounts borrowed against credit lines maintained locally by our international subsidiaries, under which the borrowing capacity was approximately $20.1 million, of which $15.8 million was unused at December 31, 2013. At December 31, 2012, borrowing capacity aggregated approximately $27.9 million, of which $23.8 million was unused. The weighted average interest rate on these lines was 3.0% and 3.2% at December 31, 2013 and 2012, respectively. Bio-Rad guaranteed eight of these credit lines at December 31, 2013 and 2012. The principal components of long-term debt are as follows (in millions):
| December 31, 2013 |  | December 31, 2012
8.0% Senior Subordinated Notes due 2016 | $ | — |  |  | $ | 296.9 |
4.875% Senior Notes due 2020, net of discount | 423.2 |  |  | 423.0 |
Capital leases and other debt | 12.6 |  |  | 12.7 |
| 435.8 |  |  | 732.6 |
Less current maturities | (0.2 | ) |  | (0.2 | )
Long-term debt | $ | 435.6 |  |  | $ | 732.4 |
Senior Subordinated Notes due 2016 In May 2009, Bio-Rad sold $300.0 million principal amount of Senior Subordinated Notes due 2016 (8.0% Notes). The sale yielded net cash proceeds of $294.8 million. In September 2013, we redeemed all of the 8.0% Notes for $312.0 million, including a call premium of $12.0 million, and expensed the remaining original issuance bond discount of $2.5 million and unamortized bond issuance costs of $1.1 million. The total expense for the redemption was $15.6 million and is included in Interest expense in our Consolidated Statements of Income. Senior Notes due 2020 In December 2010, Bio-Rad sold $425.0 million principal amount of Senior Notes due 2020 (4.875% Notes). The sale yielded net cash proceeds of $422.6 million at an effective rate of 4.946%. The 4.875% Notes pay a fixed rate of interest of 4.875% per year. We have the option to redeem any or all of the 4.875% Notes at any time at a redemption price of 100% of the principal amount (plus a specified make-whole premium as defined in the indenture governing the 4.875% Notes) and accrued and unpaid interest thereon to the redemption date. Our obligations under the 4.875% Notes are not secured and rank equal in right of payment with all of our existing and future unsubordinated indebtedness. Certain covenants apply to the 4.875% Notes including limitations on the following: liens, sale and leaseback transactions, mergers, consolidations or sales of assets and other covenants. There are no restrictive covenants relating to total indebtedness, interest coverage, stock repurchases, recapitalizations, dividends and distributions to shareholders or current ratios. The net proceeds from the issuance of the 4.875% Notes were used, together with cash on hand, to redeem all $200.0 million of our 6.125% Notes for $204.3 million, including a call premium of $4.1 million in December 2010 and all $225.0 million of our 7.5% Notes for $234.6 million, including a call premium of $2.8 million in January 2011. Amended and Restated Credit Agreement (Credit Agreement) In June 2010, Bio-Rad entered into a $200.0 million Credit Agreement. Borrowings under the Credit Agreement are on a revolving basis and can be used for acquisitions, for working capital and for other general corporate purposes. We had no outstanding borrowings under the Credit Agreement as of December 31, 2013 or 2012. If we had borrowed against our Credit Agreement, the borrowing rate would have been 2.0% at December 31, 2013. The Credit Agreement expires on June 21, 2014. The Credit Agreement is secured by substantially all of our personal property assets, the assets of our domestic subsidiaries and 65% of the capital stock of certain of our foreign subsidiaries. It is guaranteed by all of our existing and future material domestic subsidiaries. The Credit Agreement requires Bio-Rad to comply with certain financial ratios and covenants, among other things. These ratios and covenants include a leverage ratio test and an interest coverage test, as well as restrictions on our ability to declare or pay dividends, incur debt, guarantee debt, enter into transactions with affiliates, merge or consolidate, sell assets, make investments, create liens and prepay subordinated debt. We were in compliance with all of these ratios and covenants as of December 31, 2013. Maturities of long-term debt at December 31, 2013 are as follows: 2014 - $0.2 million; 2015 - $0.2 million; 2016 - $0.2 million; 2017 - $0.2 million; 2018 - $0.2 million; thereafter - $434.8 million.

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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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