Debt and Credit Facilities (Tables)

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Total Debt Outstanding

Our total debt outstanding consisted of:

(In millions)	March 31, 2018		December 31, 2017
Short-term borrowings(1)	$	155.7	$	25.3
Current portion of long-term debt	1.6		2.2
Total current debt	157.3		27.5
Term Loan A due July 2019	225.0		222.7
6.50% Senior Notes due December 2020	423.7		423.6
4.875% Senior Notes due December 2022	420.6		420.4
5.25% Senior Notes due April 2023	420.6		420.4
4.50% Senior Notes due September 2023	488.7		474.3
5.125% Senior Notes due December 2024	420.9		420.7
5.50% Senior Notes due September 2025	396.7		396.7
6.875% Senior Notes due July 2033	445.4		445.4
Other	6.3		6.3
Total long-term debt, less current portion(3)	3,247.9		3,230.5
Total debt(2)	$	3,405.2	$	3,258.0

⁽¹⁾  Short-term borrowings of $155.7 million at March 31, 2018 are comprised of $91.4 million under our European securitization program and $64.3 million of short term borrowings from various lines of credit. Short-term borrowings of $25.3 million at December 31, 2017 were comprised $2.1 million of Diversey accounts payable obligations under financing arrangements which Sealed Air was fully reimbursed for as part of the sale of Diversey as well as $23.2 million of short-term borrowings from various lines of credit.      

⁽²⁾  As of March 31, 2018, our weighted average interest rate on our short-term borrowings outstanding was 1.8% and on our long-term debt outstanding was 5.3%. As of December 31, 2017, our weighted average interest rate on our short-term borrowings outstanding was 5.4% and on our long-term debt outstanding was 5.3%. 

⁽³⁾  Amounts are net of unamortized discounts and issuance costs of $28.1 million as March 31, 2018 and $29.5 million as of December 31, 2017.

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.

(In millions)	March 31, 2018		December 31, 2017
Used lines of credit(1)	$	155.7	$	23.2
Unused lines of credit	942.3		1,108.6
Total available lines of credit(2)	$	1,098.0	$	1,131.8

⁽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⁾  Of the total available lines of credit, $852.7 million was committed as of March 31, 2018.