Debt

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



	December 31, 2014			December 31, 2013
Revolving Credit Agreement - U.S. dollar borrowings	$	354.0		$	367.7
Revolving Credit Agreement - euro borrowings	71.1			—
French Employee Profit Sharing	14.6			15.8
Bank Overdrafts	0.4			1.7
Other	—			0.2
Total Debt	440.1			385.4
Less: Current debt	(2.9		)	(4.2		)
Long-Term Debt	$	437.2		$	381.2

Credit Agreement

In December 2013, the Company amended and restated its unsecured revolving credit facility, or Credit Agreement. The five-year revolving Credit Agreement provides for borrowing capacity of $500.0 million in either U.S. Dollars or a $300.0 million equivalent sublimit in euros with an option to increase borrowing capacity by $200 million. The Credit Agreement contains representations and warranties which are 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) a minimum interest coverage ratio of 3.50. The Company was in compliance with all of its covenants under the Credit Agreement at December 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 December 31, 2014, the applicable interest rate on Credit Agreement borrowings was 1.48% on US Dollar borrowings and 1.55% on Euro borrowings. The balance of the facility is due upon maturity in December 2018.

French Employee Profit Sharing

At both December 31, 2014 and 2013, long-term debt other than the Credit Agreement primarily consisted of obligations of the French operations related to government-mandated profit sharing. Each year, representatives of the workers at each of the French businesses can make an election for the profit sharing amounts from the most recent year ended to be invested in a financial institution or with their respective employer. To the extent that funds are invested with the Company, these amounts bear interest at 2.28% and 2.43% at December 31, 2014 and 2013, respectively, and are generally payable in the fifth year subsequent to the year the profit sharing is accrued.

Bank Overdrafts and Other

The Company also had bank overdraft facilities of $30.8 million and $28.3 million, at December 31, 2014 and 2013, respectively, of which $0.4 million and $1.7 million were outstanding at December 31, 2014 and 2013, respectively, and reported as current debt on the consolidated balance sheet. Interest is incurred on outstanding amounts at market rates and was 0.55% and 0.74%, respectively, at December 31, 2014 and 2013. No commitment fees are paid on the unused portion of these facilities.

Other debt consists of non-interest bearing debt with deferred capital repayment from governmental and commercial institutions primarily related to environmental capital improvements.

Rate Swap Agreement

The Company maintained a forward interest rate swap agreement on a portion of its long-term debt as of December 31, 2014 that will fix the LIBOR rate on $50.0 million of the Company's variable-rate long-term debt as of October 2014 at a predetermined rate plus a credit spread through the end of October 2018. The impact of swap agreements on the consolidated financial statements was not material for the years ended December 31, 2014 and 2013. See Note 13. Derivatives for more information.

Principal Repayments

Under the Credit Agreement, the Company selects an "interest period" for each of its borrowings. The Company can repay such borrowings and borrow again at a subsequent date if it chooses to do so, providing it flexibility and efficient use of any excess cash. The Company expects to continue to file notices of continuation related to its borrowings outstanding at December 31, 2014 such that those amounts are not expected to be repaid prior to the December 2018 expiration of the Credit Agreement. Following are the expected maturities for the Company's debt obligations as of December 31, 2014 ($ in millions):



2015	$	2.9
2016	3.0
2017	2.9
2018	428.5
2019	2.8
Thereafter	—
Total	$	440.1

Fair Value of Debt

At December 31, 2014 and 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.