Debt and Credit Facilities (Tables)

6 Months Ended

Jun. 30, 2016

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

	June 30,		December 31,
(In millions)	2016		2015⁽³⁾
Short-term borrowings ⁽¹⁾	$	281.0	$	241.9
Current portion of long-term debt⁽²⁾		76.6		46.6
Total current debt		357.6		288.5
Term Loan A due July 2017		249.8		249.7
Term Loan A due July 2019⁽²⁾		1,040.9		1,058.9
6.50% Senior Notes due December 2020		422.9		422.7
4.875% Senior Notes due December 2022		419.3		418.9
5.25% Senior Notes due April 2023		419.4		419.0
4.50% Senior Notes due September 2023		440.8		432.9
5.125% Senior Notes due December 2024		419.9		419.7
5.50% Senior Notes due September 2025		396.2		396.1
6.875% Senior Notes due July 2033		445.2		445.2
Other		4.7		3.7
Total long-term debt, less current portion⁽⁵⁾		4,259.1		4,266.8
Total debt⁽⁴⁾⁽⁶⁾	$	4,616.7	$	4,555.3

⁽¹⁾

Short-term borrowings of $281 million at June 30, 2016 are comprised primarily of $82 million of borrowings outstanding under our U.S. accounts receivable securitization program, $69 million of borrowings outstanding under our European accounts receivable securitization program, $27 million outstanding under our revolving credit facility and $103 million short-term borrowing from various lines of credit. Short-term borrowings at December 31, 2015 are comprised primarily of $67 million of borrowings outstanding under our U.S. accounts receivable securitization program, $77 million of borrowings outstanding under our European accounts receivable securitization program and $98 million short-term borrowings from various lines of credit.

⁽²⁾	Term Loan A facility due July 2019 has required prepayments which are due in 2016 and are included in the current portion of long-term debt.

⁽³⁾

As of January 1, 2016, we have adopted ASU 2015-03 and ASU 2015-15 which resulted in $36 million of unamortized debt issuance costs being reclassified from other non-current assets to long-term debt. See Note 2, “Recently Issued Accounting Standards” for additional information related to this adoption.

⁽⁴⁾

As of June 30, 2016, our weighted average interest rate on our short-term borrowings outstanding was 4.2% and on our long-term debt outstanding was 4.6%. As of December 31, 2015, our weighted average interest rate on our short-term borrowings outstanding was 3.4% and on our long-term debt outstanding was 4.6%.

⁽⁵⁾	Amounts are net of unamortized discounts and issuance costs of $34 million as June 30, 2016 and $36 million as of December 31, 2015.

⁽⁶⁾	Long-term debt instruments are listed in order of priority.

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.

	June 30,		December 31,
(In millions)	2016		2015
Used lines of credit⁽¹⁾⁽²⁾	$	281.0	$	241.9
Unused lines of credit		1,034.2		1,039.9
Total available lines of credit⁽³⁾	$	1,315.2	$	1,281.8

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

⁽²⁾

As of June 30, 2016 and December 31, 2015, there were $55 million and $56 million of cash held on deposit, respectively, as a compensating balance for certain short-term borrowings, which is recorded in other current assets on the Condensed Consolidated Balance Sheet. As of June 30, 2016 there was $1 million of cash held on deposit as a compensating balance for certain long-term borrowings, which is recorded in other non-current assets on the Condensed Consolidated Balance Sheet.

⁽³⁾	Of the total available lines of credit, $902 million were committed as of June 30, 2016.