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Long-Term Debt

3 Months Ended

Mar. 31, 2014

NOTE 8 – LONG-TERM DEBT

Long-term debt consists of the following:


(in millions)	March 31, 2014			December 31, 2013
Revolving credit facility	$	134.0		$	142.0
Promissory note		5.0			5.0
Other long-term debt		0.7			1.0

		139.7			148.0
Less current portion		(5.4	)		(5.3	)

	$	134.3		$	142.7

The credit facility provides for borrowings by us of up to $180 million until it expires on December 14, 2016 and may be drawn down in full in the U.S.. In addition, the Company can request an additional amount of up to $20 million to be committed by the lenders.

- 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.

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