| Schedule Of Long-Term Debt |
The following represents a summary of our long-term debt as of December听31, 2012 and 2011:
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($ in Millions) |
听 |
December听31, 2012 |
听 |
Debt Instrument |
Type |
听 |
Annual Effective Interest Rate |
听 |
Final Maturity |
听 |
Total Face Amount |
听 |
Total Debt |
听 |
$1.25 Billion Term Loan |
Variable |
听 |
1.83% |
听 |
2016 |
听 |
$ |
847.1 |
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(1) |
$ |
847.1 |
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(1) |
$700 Million 4.875% 2021 Senior Notes |
Fixed |
听 |
4.88% |
听 |
2021 |
听 |
700.0 |
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听 |
699.4 |
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(2) |
$1.3 Billion Senior Notes: |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
$500 Million 4.80% 2020 Senior Notes |
Fixed |
听 |
4.80% |
听 |
2020 |
听 |
500.0 |
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听 |
499.2 |
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(3) |
$800 Million 6.25% 2040 Senior Notes |
Fixed |
听 |
6.25% |
听 |
2040 |
听 |
800.0 |
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听 |
790.2 |
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(4) |
$400 Million 5.90% 2020 Senior Notes |
Fixed |
听 |
5.90% |
听 |
2020 |
听 |
400.0 |
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听 |
398.2 |
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(5) |
$500 Million 3.95% 2018 Senior Notes |
Fixed |
听 |
4.14% |
听 |
2018 |
听 |
500.0 |
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听 |
495.7 |
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(6) |
$1.75 Billion Credit Facility: |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
Revolving Loan |
Variable |
听 |
2.02% |
听 |
2017 |
听 |
1,750.0 |
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听 |
325.0 |
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(7) |
Total debt |
听 |
听 |
听 |
听 |
听 |
听 |
$ |
5,497.1 |
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听 |
$ |
4,054.8 |
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听 |
Less current portion |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
94.1 |
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听 |
Long-term debt |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
$ |
3,960.7 |
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听 |
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($ in Millions) |
听 |
December 31, 2011 |
听 |
Debt Instrument |
Type |
听 |
Annual Effective Interest Rate |
听 |
Final Maturity |
听 |
Total Face Amount |
听 |
Total Debt |
听 |
$1.25 Billion Term Loan |
Variable |
听 |
1.40% |
听 |
2016 |
听 |
$ |
972.0 |
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(1) |
$ |
972.0 |
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(1) |
$700 Million 4.875% 2021 Senior Notes |
Fixed |
听 |
4.88% |
听 |
2021 |
听 |
700.0 |
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听 |
699.3 |
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(2) |
$1.3 Billion Senior Notes: |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
$500 Million 4.80% 2020 Senior Notes |
Fixed |
听 |
4.80% |
听 |
2020 |
听 |
500.0 |
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听 |
499.1 |
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(3) |
$800 Million 6.25% 2040 Senior Notes |
Fixed |
听 |
6.25% |
听 |
2040 |
听 |
800.0 |
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听 |
790.1 |
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(4) |
$400 Million 5.90% 2020 Senior Notes |
Fixed |
听 |
5.90% |
听 |
2020 |
听 |
400.0 |
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听 |
398.0 |
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(5) |
$325 Million Private Placement Senior Notes: |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
Series 2008A - Tranche A |
Fixed |
听 |
6.31% |
听 |
2013 |
听 |
270.0 |
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听 |
270.0 |
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听 |
Series 2008A - Tranche B |
Fixed |
听 |
6.59% |
听 |
2015 |
听 |
55.0 |
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听 |
55.0 |
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听 |
$1.75 Billion Credit Facility: |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
Revolving Loan |
Variable |
听 |
鈥�% |
听 |
2016 |
听 |
1,750.0 |
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听 |
鈥� |
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(7) |
Total debt |
听 |
听 |
听 |
听 |
听 |
听 |
$ |
5,447.0 |
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听 |
$ |
3,683.5 |
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听 |
Less current portion |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
74.8 |
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听 |
Long-term debt |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
听 |
$ |
3,608.7 |
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听 |
听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听
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(1) |
As of December听31, 2012 and December听31, 2011, $402.8 million and $278.0 million, respectively, had been paid down on the original $1.25 billion term loan and, of the remaining term loan, $94.1 million and $74.8 million, respectively, was classified as Current portion of debt. The current classification is based upon the principal payment terms of the arrangement requiring principal payments on each three-month anniversary following the funding of the term loan.
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(2) |
As of December听31, 2012 and December听31, 2011, the $700 million 4.88 percent senior notes were recorded at a par value of $700 million less unamortized discounts of $0.6 million and $0.7 million, respectively, based on an imputed interest rate of 4.89 percent.
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(3) |
As of December听31, 2012 and December听31, 2011, the $500 million 4.80 percent senior notes were recorded at a par value of $500 million less unamortized discounts of $0.8 million and $0.9 million, respectively, based on an imputed interest rate of 4.83 percent.
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(4) |
As of December听31, 2012 and December听31, 2011, the $800 million 6.25 percent senior notes were recorded at par value of $800 million less unamortized discounts of $9.8 million and $9.9 million, respectively, based on an imputed interest rate of 6.38 percent.
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(5) |
As of December听31, 2012 and December听31, 2011, the $400 million 5.90 percent senior notes were recorded at a par value of $400 million less unamortized discounts of $1.8 million and $2.0 million, respectively, based on an imputed interest rate of 5.98 percent.
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(6) |
As of December听31, 2012, the $500 million 3.95 percent senior notes were recorded at a par value of $500 million less unamortized discounts of $4.3 million, based on an imputed interest rate of 4.14 percent.
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(7) |
As of December听31, 2012 and December听31, 2011, $325.0 million and no revolving loans were drawn under the credit facility, respectively, and the principal amount of letter of credit obligations totaled $27.7 million and $23.5 million for each period, respectively, thereby reducing available borrowing capacity to $1.4 billion and $1.7 billion for each period, respectively.
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