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Debt

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Debt

Debt

Debt consisted of the following:

	Interest Rate as of March 31, 2018		Principal Amount								Maturity Date
			March 31, 2018				December 30, 2017
Senior Secured Credit Facility:
Revolving Loan Facility	3.24%		$	457,000			$	—			December 2022
Term Loan A	3.23%		740,625				750,000				December 2022
Term Loan B	3.63%		498,750				500,000				December 2024
Australian Term A-1	3.22%		133,323				135,826				July 2019
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%		615,460				599,649				June 2024
European Revolving Loan Facility	1.50%		123,092				81,539				September 2018
Accounts Receivable Securitization Facility	2.54%		157,081				125,209				March 2019
Other International Debt	Various		23,074				1,044				Various
			4,548,405				3,993,267
Less long-term debt issuance cost			40,370				41,624
Less current maturities			322,783				249,589
			$	4,185,252			$	3,702,054

As of March 31, 2018, the Company had $538,915 of borrowing availability under the $1,000,000 Revolving Loan Facility after taking into account outstanding borrowings and $4,085 of standby and trade letters of credit issued and outstanding under this facility. The Company also had $42,919 of borrowing availability under the Accounts Receivable Securitization Facility, $49,805 of borrowing availability under the Australian Revolving Loan Facility, no borrowing availability under the European Revolving Loan Facility and $111,713 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 2018, 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 2019.

As of March 31, 2018, 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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