Debt and Credit Facilities (Tables)

12 Months Ended

Dec. 31, 2014

Our total debt outstanding consisted of the amounts set forth on the following table:

	December 31,		December 31,
(In millions)	2014		2013
Short-term borrowings ⁽¹⁾	$	130.4	$	81.6
Current portion of long-term debt⁽²⁾		1.1		201.5
Total current debt		131.5		283.1
Term Loan A Facility due July 2017, less unamortized lender fees of $0.3 in 2014⁽³⁾⁽⁴⁾		249.7		—
Term Loan A Facility due July 2019 (October 2016 prior to refinance), less unamortized lender fees of $10.6 in 2014 and $8.4 in 2013⁽³⁾⁽⁴⁾		1,129.4		634.8
Term Loan B Facility due October 2018, less unamortized lender fees of $7.3 in 2013, and unamortized discount of $10.8 in 2013⁽³⁾		—		681.6
8.125% Senior Notes due September 2019⁽⁵⁾		—		750.0
6.50% Senior Notes due December 2020⁽⁶⁾		428.1		424.1
8.375% Senior Notes due September 2021		750.0		750.0
4.875% Senior Notes due December 2022⁽⁵⁾		425.0		—
5.25% Senior Notes due April 2023		425.0		425.0
5.125% Senior Notes due December 2024⁽⁵⁾		425.0		—
6.875% Senior Notes due July 2033, less unamortized discount of $1.3 in 2014 and $1.4 in 2013		448.7		448.6
Other		1.6		2.3
Total long-term debt, less current portion		4,282.5		4,116.4
Total debt⁽⁷⁾	$	4,414.0	$	4,399.5

⁽¹⁾

December 31, 2014 is comprised primarily of $36 million of borrowings outstanding under our U.S. accounts receivable securitization program and $23 million outstanding under our revolving credit facility, of which we have the intent and ability to repay within twelve months as of December 31, 2014, and $71 million short-term borrowings from various lines of credits. As of December 31, 2013, we had no amounts outstanding under either the U.S. or European program, and we did not utilize these programs during 2013.

⁽²⁾	The Company’s $150 million 12% Senior Notes due February 2014 (“12% Senior Notes”) were included in current portion of long-term debt as of December 31, 2013. We repaid the 12% Senior Notes upon their maturity using cash on hand and committed liquidity.

⁽³⁾	On July 25, 2014, the Company entered into a second restatement agreement for refinancing of the Term Loan A facilities, Term Loan B facilities and revolving credit facilities with new Term Loan A facilities. See below for further information.

⁽⁴⁾	Term Loan A facilities have required prepayments which are due in 2016.

⁽⁵⁾

In November 2014, the Company issued $425 million of 4.875% Senior Notes due December 1, 2022 and $425 million of 5.125% Senior Notes due December 1, 2024. The proceeds from this note were used to repurchase the Company’s $750 million 8.125% Notes due September 15, 2019. See below for further information.

⁽⁶⁾	On October 16, 2014, the Company terminated the $100 million of outstanding interest rate swaps on our 6.5% Senior Notes due December 1, 2020. See below for further information.

⁽⁷⁾	The weighted average interest rate on our total outstanding debt was 5.2% as of December 31, 2014 and 6.2% as of December 31, 2013.

Lines of Credit

The following table summarizes our available lines of credit and committed and uncommitted lines of credit, including the Revolving Credit Facility discussed above, and the amounts available under our accounts receivable securitization programs. We are not subject to any material compensating balance requirements in connection with our lines of credit.

	December 31,		December 31,
(In millions)	2014		2013
Used lines of credit⁽¹⁾	$	130.4	$	81.6
Unused lines of credit		1,101.7		1,224.0
Total available lines of credit⁽²⁾	$	1,232.1	$	1,305.6

⁽¹⁾	Includes total borrowings under the AR securitization programs, the revolving credit facility and borrowings under lines of credit available to several foreign subsidiaries.

⁽²⁾	Of the total available lines of credit, $892 million were committed as of December 31, 2014.

Scheduled Annual Maturities for Next Five Years and Thereafter

The following table summarizes the scheduled annual maturities for the next five years and thereafter of our long-term debt, including the current portion of long-term debt. This schedule excludes debt discounts, interest rate swaps and lender fees.

Year	Amount (in millions)
2015	$	1.1
2016		46.9
2017		322.9
2018		72.8
2019		950.5
Thereafter		2,901.5
Total	$	4,295.7