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Debt | 3 Months Ended
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Mar. 31, 2014
Debt Disclosure [Abstract] |
Debt | Debt Debt maturing within one year:
(in Millions) | March 31, 2014 |  | December 31, 2013
Short-term foreign debt (1) | $ | 17.8 |  |  | $ | 7.1 |
Commercial paper (2) | 605.9 |  |  | 656.0 |
Total short-term debt | $ | 623.7 |  |  | $ | 663.1 |
Current portion of long-term debt | 34.8 |  |  | 34.7 |
Short-term debt and current portion of long-term debt | $ | 658.5 |  |  | $ | 697.8 |
____________________ (1) We often provide parent-company guarantees to lending institutions that extend credit to our foreign subsidiaries. (2) At March 31, 2014, the average effective interest rate on the borrowings was 0.33%. Long-term debt:
(in Millions) | March 31, 2014 |  |  |  |
Interest Rate Percentage |  | Maturity Date |  | 3/31/2014 |  | 12/31/2013
Pollution control and industrial revenue bonds (less unamortized discounts of $0.2 and $0.2, respectively) | 0.1-6.5% |  |  | 2014-2035 |  | $ | 174.0 |  |  | $ | 174.0 |
Senior notes (less unamortized discount of $2.2 and $2.2, respectively) | 3.95-5.2% |  |  | 2019-2024 |  | 997.8 |  |  | 997.8 |
Credit Facility (1) | 2.4 | % |  | 2017 |  | — |  |  | — |
Foreign debt | 0-9.3% |  |  | 2014-2024 |  | 17.0 |  |  | 17.0 |
Total long-term debt |  |  |  |  | $ | 1,188.8 |  |  | $ | 1,188.8 |
Less: debt maturing within one year |  |  |  |  | 34.8 |  |  | 34.7 |
Total long-term debt, less current portion |  |  |  |  | $ | 1,154.0 |  |  | $ | 1,154.1 |
____________________
(1) | Letters of credit outstanding under our Credit Facility totaled $73.1 million and available funds under this facility were $821.0 million at March 31, 2014 (which reflects borrowings under our commercial paper program).
Covenants Among other restrictions, our Credit Facility 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 March 31, 2014, was 2.6 which is below the maximum leverage of 3.5. Our actual interest coverage for the four consecutive quarters ended March 31, 2014, was 17.5 which is above the minimum interest coverage of 3.5. We were in compliance with all covenants at March 31, 2014.

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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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