Note 10 Debt and Credit Facilities

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

	September 30,		December 31,
(In millions)	2016		2015⁽³⁾
Short-term borrowings ⁽¹⁾	$	332.2	$	241.9
Current portion of long-term debt⁽²⁾		328.6		46.6
Total current debt		660.8		288.5
Term Loan A due July 2017⁽²⁾		—		249.7
Term Loan A due July 2019⁽²⁾		1,027.6		1,058.9
6.50% Senior Notes due December 2020		423.0		422.7
4.875% Senior Notes due December 2022		419.4		418.9
5.25% Senior Notes due April 2023		419.5		419.0
4.50% Senior Notes due September 2023		444.8		432.9
5.125% Senior Notes due December 2024		420.1		419.7
5.50% Senior Notes due September 2025		396.3		396.1
6.875% Senior Notes due July 2033		445.3		445.2
Other		4.7		3.7
Total long-term debt, less current portion⁽⁵⁾		4,000.7		4,266.8
Total debt⁽⁴⁾⁽⁶⁾	$	4,661.5	$	4,555.3

⁽¹⁾

Short-term borrowings of $332.2 million at September 30, 2016 are comprised primarily of $73.0 million of borrowings outstanding under our U.S. accounts receivable securitization program, $110.4 million of borrowings outstanding under our European accounts receivable securitization program, $30.0 million outstanding under our revolving credit facility and $118.8 million short-term borrowing from various lines of credit. Short-term borrowings at December 31, 2015 are comprised primarily of $67.0 million of borrowings outstanding under our U.S. accounts receivable securitization program, $76.7 million of borrowings outstanding under our European accounts receivable securitization program and $98.2 million short-term borrowings from various lines of credit.

⁽²⁾	Term Loan A facility due July 2019 has required prepayments which are due in the fourth quarter of 2016 and Term Loan A facility due in July 2017 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 $35.9 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 September 30, 2016, our weighted average interest rate on our short-term borrowings outstanding was 3.0% 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 $32.8 million as September 30, 2016 and $35.9 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.

	September 30,		December 31,
(In millions)	2016		2015
Used lines of credit⁽¹⁾⁽²⁾	$	332.2	$	241.9
Unused lines of credit		985.5		1,039.9
Total available lines of credit⁽³⁾	$	1,317.7	$	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 September 30, 2016 and December 31, 2015, there were $55.0 million and $56.5 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.

⁽³⁾	Of the total available lines of credit, $884.7 million were committed as of September 30, 2016.

Covenants

Each issue of our outstanding senior notes imposes limitations on our operations and those of specified subsidiaries. The Second Amended and Restated Syndicated Credit Facility (“Amended Credit Facility”) contains customary affirmative and negative covenants for credit facilities of this type, including limitations on our indebtedness, liens, investments, restricted payments, mergers and acquisitions, dispositions of assets, transactions with affiliates, amendment of documents and sale leasebacks, and a covenant specifying a maximum permitted ratio of Consolidated Net Debt to Consolidated EBITDA (as defined in the Amended Credit Facility). We were in compliance with the above financial covenants and limitations at September 30, 2016.