Debt

Total debt is summarized in the following table ($ in millions):



	March 31, 2014			December 31, 2013
Credit Agreement	$	426.0		$	367.7
French Employee Profit Sharing	15.8			15.8
Bank Overdrafts	5.7			1.7
Other	0.1			0.2
Total Debt	447.6			385.4
Less: Current debt	(8.2		)	(4.2		)
Long-Term Debt	$	439.4		$	381.2

Credit Agreement

In December 2013, the Company amended and restated its five-year unsecured revolving credit facility, or Credit Agreement. The Credit Agreement provides for borrowing capacity of $500 million in either U.S. Dollars or a $300 million equivalent sublimit in euros, with an option to increase borrowing capacity by $200 million. The Credit Agreement contains representations and warranties customary for facilities of this type and covenants and provisions that, among other things, require the Company to maintain (a) a maximum net debt to EBITDA ratio of 3.00 and (b) minimum interest coverage ratio of 3.50. The Company was in compliance with all of its covenants under the Credit Agreement at March 31, 2014.

Under the Credit Agreement, interest rates are based on the London Interbank Offered Rate plus an applicable margin that varies from 1.25% to 2.00% depending on the Net Debt to EBITDA Ratio, as defined in the Credit Agreement. The Company will incur commitment fees at an annual rate of 0.20% to 0.30% of the applicable margin on the committed amounts not drawn, depending on the Net Debt to EBITDA Ratio. As of March 31, 2014, the applicable interest rate on Credit Agreement borrowings was 1.44% on U.S. Dollar borrowings. No euro borrowings were outstanding at March 31, 2014 or December 31, 2013.

Fair Value of Debt

At March 31, 2014 and December 31, 2013, the estimated fair values of the Company’s current and long-term debt approximated the respective carrying amounts since the interest rates were variable and based on current market indices.