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Debt | 12 Months Ended
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Dec. 31, 2013
Line of Credit Facility [Abstract] |
Debt | DEBT Credit Facility USEC's $110.0 million credit facility matured on September 30, 2013 and was not renewed or replaced. Letters of credit as of December 31, 2013 remain outstanding until their maturity. Utilization of the credit facility at December 31, 2013 and December 31, 2012 follows:
| December 31,
| 2013 |  | 2012
| (millions)
Borrowings under the revolving credit facility | $ | — |  |  | $ | — |
Term loan | — |  |  | 83.2 |
Letters of credit | 1.6 |  |  | 14.7 |
Available credit | — |  |  | 87.1 |
Convertible Senior Notes due October 1, 2014 The balance sheet carrying value of USEC’s convertible senior notes was $530.0 million as of December 31, 2013 and December 31, 2012. The convertible senior notes, issued in September 2007, bear interest at a rate of 3.0% per annum payable semi-annually in arrears on April 1 and October 1 of each year. The convertible senior notes are due October 1, 2014, and are classified as a current liability as of December 31, 2013. USEC paid underwriting discounts and offering expenses of $14.3 million in 2007, and these costs were deferred and are being amortized using the effective interest rate method over the life of the convertible notes. Under our proposed Plan, the convertible notes will be restructured. Refer to "Chapter 11 Filing" in Note 1. The notes are senior unsecured obligations and rank equally with all existing and future senior unsecured debt of USEC Inc. and senior to all subordinated debt of USEC Inc. The notes are structurally subordinated to all existing and future liabilities of subsidiaries of USEC Inc. and will be effectively subordinated to existing and future secured indebtedness of USEC Inc. to the extent of the value of the collateral. The notes were not eligible for conversion to common stock as of December 31, 2013 or December 31, 2012. Under the terms of USEC's convertible notes, a "fundamental change" is triggered if USEC's shares of common stock are not listed for trading on any of the NYSE, the American Stock Exchange (now NYSE-MKT), the NASDAQ Global Market or the NASDAQ Global Select Market, and the holders of the notes can require USEC to repurchase the notes at par for cash. However, as a result of the Chapter 11 filing, any actions to enforce such repurchase right or to otherwise exercise rights under the notes are stayed. Deferred Financing Costs Financing costs are generally deferred and amortized over the life of the instrument. Deferred financing costs related to the DOE loan guarantee application were expensed in 2012 as described in Note 8. A summary of deferred financing costs for the two years ended December 31, 2013 follows (in millions):
| Dec. 31, 2011 |  | Additions |  | Reductions |  | Dec. 31, 2012 |  | Additions/ (Reclasses) |  | Reductions |  | Dec. 31, 2013
Other current assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Bank credit facilities | $ | 2.4 |  |  | $ | 9.2 |  |  | $ | (8.6 | ) |  | $ | 3.0 |  |  | $ | 2.2 |  |  | $ | (5.2 | ) |  | $ | — |
Convertible notes | — |  |  | — |  |  | — |  |  | — |  |  | 1.8 |  |  | (0.2 | ) |  | 1.6 |
Other long-term assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Convertible notes | 5.5 |  |  | — |  |  | (1.9 | ) |  | 3.6 |  |  | (1.8 | ) |  | (1.8 | ) |  | — |
DOE Loan Guarantee application | 6.7 |  |  | — |  |  | (6.7 | ) |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | 14.6 |  |  | $ | 9.2 |  |  | $ | (17.2 | ) |  | $ | 6.6 |  |  | $ | 2.2 |  |  | $ | (7.2 | ) |  | $ | 1.6 |

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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 SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 3: 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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