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Debt | 9 Months Ended
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Sep. 30, 2012
Debt Disclosure [Abstract] |
Debt | Debt Debt maturing within one year: Debt maturing within one year consists of the following:
(in Millions) | September 30, 2012 |  | December 31, 2011
Short-term debt | $ | 58.6 |  |  | $ | 27.0 |
Current portion of long-term debt | 2.9 |  |  | 19.5 |
Total debt maturing within one year | $ | 61.5 |  |  | $ | 46.5 |
Short-term debt consisted of foreign credit lines at September 30, 2012 and December 31, 2011. We often provide parent-company guarantees to lending institutions that extend credit to our foreign subsidiaries. Long-term debt: Long-term debt consists of the following:
(in Millions) | September 30, 2012 |  |  |  |
Interest Rate Percentage |  | Maturity Date |  | 9/30/2012 |  | 12/31/2011
Pollution control and industrial revenue bonds (less unamortized discounts of $0.2 and $0.2, respectively) | 0.2-6.5% |  |  | 2013-2035 |  | $ | 176.7 |  |  | $ | 176.7 |
Senior notes (less unamortized discount of $1.9 and $2.1, respectively) | 3.95-5.2% |  |  | 2019-2022 |  | 598.1 |  |  | 597.9 |
2011 credit agreement | 3.2 | % |  | 2016 |  | 24.0 |  |  | — |
Foreign debt | 0-10.3% |  |  | 2013-2020 |  | 12.0 |  |  | 24.0 |
Total long-term debt |  |  |  |  | $ | 810.8 |  |  | $ | 798.6 |
Less: debt maturing within one year |  |  |  |  | 2.9 |  |  | 19.5 |
Total long-term debt, less current portion |  |  |  |  | $ | 807.9 |  |  | $ | 779.1 |
Letters of credit outstanding under the 2011 Credit Agreement totaled $73.4 million and $75.5 million at September 30, 2012 and December 31, 2011, respectively. Therefore, available funds under this facility were $1,402.6 million and $1,424.5 million at September 30, 2012 and December 31, 2011, respectively. Among other restrictions, the 2011 Credit Agreement contains financial covenants applicable to FMC and its consolidated subsidiaries related to leverage (measured as the ratio of debt to adjusted earnings) and interest coverage (measured as the ratio of adjusted earnings to interest expense). Our actual leverage for the four consecutive quarters ended September 30, 2012, was 1.3 which is below the maximum leverage of 3.5. Our actual interest coverage for the four consecutive quarters ended September 30, 2012, was 17.3 w hich is above the minimum interest coverage of 3.5. We were in compliance with all covenants at September 30, 2012.

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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 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 Reference 2: 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 3: 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 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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