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Debt | 12 Months Ended
--- | ---
Dec. 31, 2015
Debt Disclosure [Abstract] |
Debt | Debt
|  |  | December 31,
| Interest rate |  | 2015 |  | 2014
Commercial paper | 1.1% |  | $ | 90,000 |  |  | $ | — |
Notes due March 2015 | 5.0% |  | — |  |  | 274,879 |
Notes due January 2016 | 4.75% |  | 370,914 |  |  | 370,914 |
Notes due September 2017 | 5.75% |  | 385,109 |  |  | 385,109 |
Notes due March 2018 | 5.6% |  | 250,000 |  |  | 250,000 |
Notes due May 2018 | 4.75% |  | 350,000 |  |  | 350,000 |
Notes due March 2019 | 6.25% |  | 300,000 |  |  | 300,000 |
Notes due November 2022 | 5.25% |  | — |  |  | 110,000 |
Notes due March 2024 | 4.625% |  | 500,000 |  |  | 500,000 |
Notes due January 2037 | 5.25% |  | 115,041 |  |  | 115,041 |
Notes due March 2043 | 6.7% |  | 425,000 |  |  | 425,000 |
Term loans | Variable |  | 150,000 |  |  | 130,000 |
Other debt |  |  | 15,758 |  |  | 16,000 |
Principal amount |  |  | 2,951,822 |  |  | 3,226,943 |
Less: unamortized discount |  |  | 5,288 |  |  | 6,653 |
Plus: unamortized interest rate swap proceeds |  |  | 22,463 |  |  | 31,716 |
Total debt |  |  | 2,968,997 |  |  | 3,252,006 |
Less: current portion long-term debt |  |  | 461,085 |  |  | 324,879 |
Long-term debt |  |  | $ | 2,507,912 |  |  | $ | 2,927,127 |
In November 2015 we redeemed the $110 million 5.250% notes due November 2022 at a par plus accrued and unpaid interest. We also repaid the $130 million term loans outstanding at December 31, 2014 and borrowed $150 million under new a term loan. The term loan bears interest at the applicable Eurodollar Rate plus 0.90%. Interest is payable and resets quarterly and the loans mature in December 2016 but may be extended through June 2017 at our option. At December 31, 2015, the weighted-average interest rate of the term loans was 1.4%. During 2015, we also repaid the $275 million, 5% notes that matured in March 2015. In October 2014, we received a loan from the State of Connecticut Department of Economic and Community Development. The loan consisted of a $15 million development loan and $1 million jobs-training grant that is subject to refund if certain conditions are not met. We satisfied the conditions related to the $1 million jobs-training grant during 2015. The 4.625% Notes due March 2024 may be redeemed, at anytime, at our option, in whole or in part, at par plus accrued interest and a make-whole payment. The 6.7% Notes due March 2043 may be redeemed, at our option, in whole or in part, at par plus accrued interest any time on or after March 2018, respectively. The 5.25% Notes due 2037 may be redeemed by bondholders, in whole or in part, at par plus accrued interest in January 2017. We have a commercial paper program and a committed credit facility of $1 billion to support commercial paper issuances. There were $90 million of commercial paper borrowings at December 31, 2015. As of December 31, 2015, we had not drawn upon the credit facility. The credit facility expires in January 2020. In January 2016, we borrowed $300 million under a term loan and used the proceeds to repay a portion of the $371 million, 4.75% notes due January 15, 2016. The remaining portion of the loan was repaid using cash from operations. The new term loan bears interest at the applicable Eurodollar Rate plus 1.25% and matures in December 2020. Annual maturities of outstanding debt at December 31, 2015 are as follows:
2016 | $ | 461,085 |
2017 | 535,277 |
2018 | 600,168 |
2019 | 300,168 |
2020 | 412 |
Thereafter | 1,054,712 |
Total | $ | 2,951,822 |

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- Definition The entire disclosure for long-term debt. + 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 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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