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Debt

9 Months Ended

Sep. 30, 2017

Debt Disclosure [Abstract]

Debt

Debt

Debt consisted of the following:

	Interest Rate as of September 30, 2017		Principal Amount								Maturity Date
			September 30, 2017				December 31, 2016
Senior Secured Credit Facility:
Revolving Loan Facility	2.99%		$	211,000			$	—			April 2020
Term Loan A	2.95%		605,625				655,469				April 2020
Term Loan B	3.74%		318,625				318,625				April 2022
Australian Term A-1	3.15%		156,974				143,544				July 2019
Australian Term A-2	—%		—				143,544				July 2021
4.875% Senior Notes	4.88%		900,000				900,000				May 2026
4.625% Senior Notes	4.63%		900,000				900,000				May 2024
3.5% Senior Notes	3.50%		587,268				520,617				June 2024
European Revolving Loan Facility	1.50%		79,868				62,474				September 2018
Accounts Receivable Securitization Facility	2.12%		250,995				44,521				March 2018
Other International Debt	Various		2,027				43,789				Various
			4,012,382				3,732,583
Less long-term debt issuance cost			40,445				46,534
Less current maturities			405,390				178,364
			$	3,566,547			$	3,507,685

As of September 30, 2017, the Company had $784,117 of borrowing availability under the $1,000,000 Revolving Loan Facility after taking into account outstanding borrowings and $4,883 of standby and trade letters of credit issued and outstanding under this facility. The Company also had $24,005 of borrowing availability under the Accounts Receivable Securitization Facility, $37,586 of borrowing availability under the European Revolving Loan Facility, $51,016 of borrowing availability under the Australian Revolving Loan Facility and $60,648 of borrowing availability under other international lines of credit after taking into account outstanding borrowings and letters of credit outstanding under the applicable facility.

In March 2017, the Company amended the Accounts Receivable Securitization Facility that it entered into in November 2007 (the “Accounts Receivable Securitization Facility”). This amendment primarily extended the maturity date to March 2018.

In September 2017, the Company amended the European Revolving Loan Facility primarily to extend the maturity date to September 2018.

As of September 30, 2017, the Company was in compliance with all financial covenants under its credit facilities.

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- References

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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 470
-URI http://asc.fasb.org/topic&trid=2208564

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