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Debt (Tables)
 12 Months Ended
Dec. 31, 2012
Short-Term Borrowings

Short-term borrowings at December 31 consisted of the following ($ in millions):

 

     2012      2011  

Non-U.S. lines of credit

    $   0.3       $   9.0   
  

 

 

     

 

 

  

Total short-term borrowings

    $ 0.3       $ 9.0   
  

 

 

     

 

 

  
Long-Term Borrowings

Long-term borrowings at December 31 consisted of the following ($ in millions):

 

     2012     2011  

Revolving Credit Facility

      $ -      $ 180.0   

ABL Facility

      6.7        -   

Term Loan

      149.1        -   

12.98% private placement note due 2012

      -        27.3   

Private placement note, floating rate (8.85% at December 31, 2011)

      -        6.2   

Capital lease obligations

      1.7        0.5   
  

 

 

    

 

 

  
     157.5        214.0   

Unamortized balance of terminated fair value interest rate swaps

      -        0.1   
  

 

 

    

 

 

  
     157.5        214.1   

Less current maturities, excluding financial services activities

      (4.2 )      -   

Less current capital lease obligations

      (0.5 )      (0.1 ) 

Less financial services activities — borrowings (included in discontinued operations)

      -        (0.9 ) 
  

 

 

    

 

 

  

Total long-term borrowings and capital lease obligations, net

    $ 152.8      $ 213.1   
  

 

 

    

 

 

  
Summary of Carrying Amount and Fair Value of Financial Instruments

The following table summarizes the carrying amounts and fair values of the Company’s financial instruments at December 31 ($ in millions):

 

     2012      2011  
     Notional
Amount		      Fair
Value		      Notional
Amount		      Fair
Value		  

Short-term debt

    $ 0.3       $ 0.3       $ 9.0       $ 9.0   

Long-term debt (1)

      157.5         208.2         214.1         212.4   

 

(1) Long-term debt includes current portions of long-term debt and current portions of capital lease obligations of $4.7 million and $0.1 million as of December 31, 2012 and 2011, respectively, and $0.9 million of financial service borrowings at December 31, 2011, which is included in discontinued operations.