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Debt and Credit Facilities (Tables)

6 Months Ended

Jun. 30, 2014

Debt Disclosure [Abstract]

Total Debt Outstanding

Our total debt outstanding consisted of the amounts included in the table below:

		June 30, 2014				December 31, 2013
Short-term borrowings (1)		$	644.0			$	81.6
Current portion of long-term debt(2) (3)			69.8				201.5
Total current debt			713.8				283.1
Term Loan A Facility due October 2016, less unamortized lender fees of $6.1 in 2014 and $8.4 in 2013 (2) (3)			571.5				634.8
Term Loan B Facility due October 2018, less unamortized lender fees of $6.6 in 2014 and $7.3 in 2013, and unamortized discount of $9.7 in 2014 and $10.8 in 2013(3)			680.8				681.6
8.125% Senior Notes due September 2019			750.0				750.0
6.50% Senior Notes due December 2020			426.5				424.1
8.375% Senior Notes due September 2021			750.0				750.0
5.25% Senior Notes due April 2023			425.0				425.0
6.875% Senior Notes due July 2033, less unamortized discount of $1.4 in 2014 and 2013			448.6				448.6
Other			2.5				2.3
Total long-term debt, less current portion			4,054.9				4,116.4
Total debt(4)		$	4,768.7			$	4,399.5

⁽¹⁾  2014 primarily includes $217 million of borrowings outstanding under our U.S. and European accounts receivable securitization programs and $305 million of borrowings outstanding under our revolving credit facility, of which we have the intent and ability to repay within twelve months as of June 30, 2014.

⁽²⁾  The Company’s $150 million 12% Senior Notes due February 2014 (“12% Senior Notes”) were included in current portion of long-term debt as of December 31, 2013. We repaid the 12% Senior Notes upon their maturity using cash on hand and committed liquidity.

⁽³⁾  We reclassified $68 million of Term Loan A and Term Loan B installment payments due in the next 12 months to current portion of long term debt as of June 30, 2014.

⁽⁴⁾  The weighted average interest rate on our total outstanding debt was 5.7% as of June 30, 2014 and 6.2% as of December 31, 2013.

Lines of Credit

The following table summarizes our available lines of credit, which include our senior secured credit facility and the amounts available under our U.S. and European accounts receivable securitization programs. We are not subject to any material compensating balance requirements in connection with our lines of credit.

		June 30, 2014				December 31, 2013
Used lines of credit (1)		$	644.0			$	81.6
Unused lines of credit			642.2				1,224.0
Total available lines of credit(2)		$	1,286.2			$	1,305.6

⁽¹⁾  Includes total borrowings under AR securitization program, revolving credit facility and borrowings under several foreign subsidiaries.

⁽²⁾  Of the total available lines of credit, $945 million were committed.

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Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

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