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Debt | 6 Months Ended
--- | ---
Jul. 01, 2017
Debt Disclosure [Abstract] |
Debt | Debt A summary of long-term debt, net of unamortized debt issuance costs and the related weighted average interest rates is shown below (in millions):
| July 1, 2017 |  | December 31, 2016
Debt Instrument | Long-Term Debt |  | Debt Issuance Costs (1) |  | Long-Term Debt, Net |  | Weighted Average Interest Rate |  | Long-Term Debt |  | Debt Issuance Costs (1) |  | Long-Term Debt, Net |  | Weighted Average Interest Rate
Credit Agreement — Term Loan Facility | $ | 453.1 |  |  | $ | (1.3 | ) |  | $ | 451.8 |  |  | 2.445% |  | $ | 468.7 |  |  | $ | (1.6 | ) |  | $ | 467.1 |  |  | 2.105%
4.75% Senior Notes due 2023 ("2023 Notes") | 500.0 |  |  | (4.4 | ) |  | 495.6 |  |  | 4.75% |  | 500.0 |  |  | (4.8 | ) |  | 495.2 |  |  | 4.75%
5.375% Senior Notes due 2024 ("2024 Notes") | 325.0 |  |  | (2.6 | ) |  | 322.4 |  |  | 5.375% |  | 325.0 |  |  | (2.8 | ) |  | 322.2 |  |  | 5.375%
5.25% Senior Notes due 2025 ("2025 Notes") | 650.0 |  |  | (6.2 | ) |  | 643.8 |  |  | 5.25% |  | 650.0 |  |  | (6.6 | ) |  | 643.4 |  |  | 5.25%
Other | 5.5 |  |  | — |  |  | 5.5 |  |  | N/A |  | 5.7 |  |  | — |  |  | 5.7 |  |  | N/A
| $ | 1,933.6 |  |  | $ | (14.5 | ) |  | 1,919.1 |  |  |  |  | $ | 1,949.4 |  |  | $ | (15.8 | ) |  | 1,933.6 |  |  |
Less — Current portion |  |  |  |  | (42.0 | ) |  |  |  |  |  |  |  | (35.6 | ) |  |
Long-term debt |  |  |  |  | $ | 1,877.1 |  |  |  |  |  |  |  |  | $ | 1,898.0 |  |  |
(1) Unamortized portion Senior Notes The issuance date, maturity date and interest payable dates of the Company's senior unsecured 2023 Notes, 2024 Notes and 2025 Notes (together, the "Notes") are as shown below:
Note | Issuance Date |  | Maturity Date |  | Interest Payable Dates
2023 Notes | January 2013 |  | January 15, 2023 |  | January 15 and July 15
2024 Notes | March 2014 |  | March 15, 2024 |  | March 15 and September 15
2025 Notes | November 2014 |  | January 15, 2025 |  | January 15 and July 15
Guarantees The Notes are senior unsecured obligations. The Company’s obligations under the Notes are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by certain domestic subsidiaries, which are directly or indirectly 100% owned by Lear (Note 18, "Supplemental Guarantor Condensed Consolidating Financial Statements"). Covenants Subject to certain exceptions, the indentures governing the Notes contain restrictive covenants that, among other things, limit the ability of the Company to: (i) create or permit certain liens and (ii) consolidate, merge or sell all or substantially all of the Company’s assets. The indentures governing the 2023 Notes and 2024 Notes limit the ability of the Company to enter into sale and leaseback transactions. The indentures governing the Notes also provide for customary events of default. As of July 1, 2017, the Company was in compliance with all covenants under the indentures governing the Notes. Credit Agreement As of July 1, 2017, the Company’s credit agreement (the "Credit Agreement") consists of a $1.25 billion revolving credit facility (the “Revolving Credit Facility”), which matures on November 14, 2019, and a $500 million term loan facility (the "Term Loan Facility"), which matures on January 5, 2020. As of July 1, 2017 and December 31, 2016, there were no borrowings outstanding under the Revolving Credit Facility. As of July 1, 2017 and December 31, 2016, there were $453.1 million and $468.7 million, respectively, of borrowings outstanding under the Term Loan Facility. In the three and six months ended July 1, 2017, the Company made required principal payments under the Term Loan Facility of $9.4 million and $15.6 million, respectively. Advances under the Revolving Credit Facility generally bear interest at a variable rate per annum equal to (i) the Eurocurrency Rate (as defined in the Credit Agreement) plus an adjustable margin of 1.0% to 2.25% based on the Company’s corporate rating (1.25% as of July 1, 2017), payable on the last day of each applicable interest period but in no event less frequently than quarterly, or (ii) the Adjusted Base Rate (as defined in the Credit Agreement) plus an adjustable margin of 0.0% to 1.25% based on the Company’s corporate rating (0.25% as of July 1, 2017), payable quarterly. A facility fee, which ranges from 0.25% to 0.50% of the total amount committed under the Revolving Credit Facility, is payable quarterly. Loans under the Term Loan Facility generally bear interest at a variable rate per annum equal to (i) the Eurocurrency Rate (as defined in the Credit Agreement) plus an adjustable margin of 1.25% to 2.25% based on the Company's corporate rating (1.375% as of July 1, 2017), payable on the last day of each applicable interest period but in no event less frequently than quarterly, or (ii) the Adjusted Base Rate (as defined in the Credit Agreement) plus an adjustable margin of 0.25% to 1.25% based on the Company's corporate rating (0.375% as of July 1, 2017), payable quarterly. The Company’s obligations under the Credit Agreement are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by certain domestic subsidiaries, which are directly or indirectly 100% owned by Lear (Note 18, "Supplemental Guarantor Condensed Consolidating Financial Statements"). The Credit Agreement contains various customary representations, warranties and covenants by the Company, including, without limitation, (i) covenants regarding maximum leverage and minimum interest coverage, (ii) limitations on fundamental changes involving the Company or its subsidiaries and (iii) limitations on indebtedness, liens, investments and restricted payments. As of July 1, 2017, the Company was in compliance with all covenants under the Credit Agreement. Other As of July 1, 2017, other long-term debt consists of amounts outstanding under capital leases. For further information on the Notes and the Credit Agreement, see Note 6, "Debt," to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016.

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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 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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