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DEBT | 3 Months Ended
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Mar. 31, 2014
DEBT |
DEBT | 3. DEBT At March 31, 2014 and December 31, 2013, the Company’s debt consisted of the following (in millions):
|  | March 31, |  | December 31, |
|  | 2014 |  | 2013 |
Term Loans: |  |  |  |  |
5.79%, payable through 2020 |  | $ | 45.5 |  | $ | 45.5 |
3.66%, payable through 2023 |  | 77.5 |  | 77.5 |
4.16%, payable through 2027 |  | 55.0 |  | 55.0 |
4.31%, payable through 2032 |  | 37.5 |  | 37.5 |
Title XI Bonds: |  |  |  |  |
5.34%, payable through 2028 |  | 31.9 |  | 33.0 |
5.27%, payable through 2029 |  | 34.1 |  | 35.2 |
Term Notes: |  |  |  |  |
4.35%, payable through 2044 |  | 100.0 |  | — |
Capital leases |  | 2.1 |  | 2.4 |
Total debt |  | 383.6 |  | 286.1 |
Less current portion |  | (12.5 | ) | (12.5 | )
Total long-term debt |  | $ | 371.1 |  | $ | 273.6 |
In January 2014, the Company issued $100 million of 30-year senior unsecured notes (the “Notes”). The Notes have a weighted average life of 14.5 years and bear interest at a rate of 4.35%, payable semi-annually. The proceeds are expected to be used for general corporate purposes. The Notes will begin to mature in 2021, with annual principal payments of $5.0 million in 2021, $7.5 million in 2022 and 2023, $10.0 million from 2024 to 2027, and $8.0 million in 2028. Starting in 2029, and in each year thereafter until 2044, annual principal payments will be $2.0 million.

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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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