Debt and Credit Facilities (Tables)

3 Months Ended

Mar. 31, 2016

Our total debt outstanding consisted of the amounts set forth on the following table:

	March 31,		December 31,
(In millions)	2016		2015⁽³⁾
Short-term borrowings ⁽¹⁾	$	353.1	$	241.9
Current portion of long-term debt		61.6		46.6
Total current debt		414.7		288.5
Term Loan A due July 2017		249.7		249.7
Term Loan A due July 2019⁽²⁾		1,055.5		1,058.9
6.50% Senior Notes due December 2020		422.8		422.7
4.875% Senior Notes due December 2022		419.1		418.9
5.25% Senior Notes due April 2023		419.2		419.0
4.50% Senior Notes due September 2023		449.2		432.9
5.125% Senior Notes due December 2024		419.8		419.7
5.50% Senior Notes due September 2025		396.1		396.1
6.875% Senior Notes due July 2033		445.2		445.2
Other		3.4		3.7
Total long-term debt, less current portion⁽⁵⁾		4,280.0		4,266.8
Total debt⁽⁴⁾⁽⁶⁾	$	4,694.7	$	4,555.3

⁽¹⁾

Short-term borrowings of $353 million at March 31, 2016 are comprised primarily of $70 million of borrowings outstanding under our U.S. accounts receivable securitization program, $82 million of borrowings outstanding under our European accounts receivable securitization program, $92 million outstanding under our revolving credit facility and $109 million short-term borrowing from various lines of credit. Short-term borrowings at December 31, 2015 are comprised primarily of $67 million of borrowings outstanding under our U.S. accounts receivable securitization program, $77 million of borrowings outstanding under our European accounts receivable securitization program and $98 million short-term borrowings from various lines of credit.

⁽²⁾	Term Loan A facility due July 2019 has required prepayments which are due in 2016.

⁽³⁾	As of January 1, 2016, we have adopted ASU 2015-03 and ASU 2015-15 which resulted in $36 million of unamortized debt issuance costs being reclassified from other assets to long-term debt. See Note 2, “Recently Issued Accounting Standards” for additional information related to this adoption.

⁽⁴⁾

As of March 31, 2016, our weighted average interest rate on our short-term borrowings outstanding was 3.5% and on our long-term debt outstanding was 4.6%. As of December 31, 2015, our weighted average interest rate on our short-term borrowings outstanding was 3.4% and on our long-term debt outstanding was 4.6%.

⁽⁵⁾	Amounts are net of unamortized discounts/issuance costs of $35 million as March 31, 2016 and $36 million as of December 31, 2015.

⁽⁶⁾	Long-term debt instruments are listed in order of priority.

Lines of Credit

The following table summarizes our available lines of credit and committed and uncommitted lines of credit, including the Revolving Credit Facility discussed above, and the amounts available under our accounts receivable securitization programs.

	March 31,		December 31,
(In millions)	2016		2015
Used lines of credit⁽¹⁾⁽²⁾	$	353.1	$	241.9
Unused lines of credit		935.0		1,039.9
Total available lines of credit⁽³⁾	$	1,288.1	$	1,281.8

⁽¹⁾	Includes total borrowings under the accounts receivable securitization programs, the revolving credit facility and borrowings under lines of credit available to several subsidiaries.

⁽²⁾	As of March 31, 2016 and December 31, 2015, there were $57 million and $56 million of cash held on deposit, respectively, as a compensating balance for certain short-term borrowings that are included in other current assets on the Condensed Consolidated Balance Sheet.

⁽³⁾	Of the total available lines of credit, $875 million were committed as of March 31, 2016.