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Long-Term Debt

9 Months Ended

Sep. 30, 2014

NOTE 8 – LONG-TERM DEBT

Long-term debt consists of the following:


(in millions)	September 30, 2014		December 31, 2013

Revolving credit facility	$	115.0	$	142.0
Promissory note		0.0		5.0
Other long-term debt		0.0		1.0

		115.0		148.0
Less current portion		0.0		(5.3	)

	$	115.0	$	142.7

On July 31, 2014 the Company increased its borrowing capacity by $20 million such that its credit facility now provides for borrowings by us of up to $200 million until it expires on December 14, 2016 and may be drawn down in full in the U.S..

- 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+ Details