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LONG
3 Months Ended
Mar. 31, 2013
LONG TERM DEBT [Abstract]  
LONG TERM DEBT
10.      LONG-TERM DEBT

The Company currently has debt pursuant to various credit facilities and other borrowings.  The following table summarizes the Company's long-term debt arrangements:

Facility or Arrangement(1)
Original Principal Amount
Balance as of
  March 31, 2013(2)
Balance as of
  December 31, 2012
Interest Rate
Repayment terms
 
 
 
 
 
 
 
 
 
 
 
Multi-currency uncommitted shelf facility:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. dollar denominated:
 
$40.0 million
 
 
$22.9 million
 
 
$22.9 million
 
 
6.2%
 
 
Notes due July 2016 with annual principal payments that began in July 2010.
 
 
 
 
 
 
 
 
 
 
 
 
 
$20.0 million
 
 
$11.4 million
 
 
$14.3 million
 
 
6.2%
 
 
Notes due January 2017 with annual principal payments that began in January 2011.
 
 
 
 
 
 
 
 
 
 
 
Japanese yen denominated:
 
3.1 billion yen
 
0.9 billion yen ($9.5 million as of March 31, 2013)
 
0.9 billion yen ($10.2 million as of December 31, 2012)
 
1.7%
 
 
Notes due April 2014 with annual principal payments that began in April 2008.
 
 
 
 
 
 
 
 
 
 
 
 
 
2.3 billion yen
 
1.6 billion yen ($17.2 million as of March 31, 2013)
 
1.6 billion yen ($18.7 million as of December 31, 2012)
 
2.6%
 
 
Notes due September 2017 with annual principal payments that began in September 2011.
 
 
 
 
 
 
 
 
 
 
 
 
 
2.2 billion yen
 
1.2 billion yen ($13.2 million as of March 31, 2013)
 
1.6 billion yen ($17.9 million as of December 31, 2012)
 
3.3%
 
 
Notes due January 2017 with annual principal payments that began in January 2011.
 
 
 
 
 
 
 
 
 
 
 
 
 
8.0 billion yen
 
8.0 billion yen ($84.6 million as of March 31, 2013)
 
8.0 billion yen ($92.0 million as of December 31, 2012)
 
1.7%
 
Notes due May 2022 with annual principal payments that begin in May 2016.
 
 
 
 
 
 
 
 
 
 
 
Committed loan:
 
 
 
 
 
 
 
 
 
 
U.S. dollar denominated:
 
$30.0 million
 
$16.5 million
 
$18.0 million
 
Variable 30 day: 1.21%
 
Amortizes at $0.5 million every 30 days.
 
 
 
 
 
 
 
 
 
 
 
Revolving credit facility(3)
 
$20.0 million
 
$20.0 million
 
N/A
 
Variable 30 day: 0.71%
 
Revolving line of credit.


 
 
TABLE OF CONTENTS
 
NU SKIN ENTERPRISES, INC.
Notes to Consolidated Financial Statements

 


(1)On May 25, 2012, the Company (a) entered into an amendment and restatement of its multi-currency uncommitted shelf facility to extend the termination date to May 25, 2015 and provide for the issuance of up to $150 million in additional senior promissory notes; (b) entered into an amendment and restatement of the Company's revolving credit facility to extend the termination date to May 9, 2014; and (c) terminated pledges and guarantees of its subsidiaries as security for the multi-currency uncommitted shelf facility, committed loan and revolving credit facility.  The committed loan continues to be secured by deeds of trust with respect to the Company's corporate headquarters and distribution center in Provo, Utah.

(2)The current portion of the Company's long-term debt (i.e. becoming due in the next 12 months) includes $11.5 million of the balance of its Japanese yen-denominated debt under the multi-currency uncommitted shelf facility, $8.6 million of the balance on its U.S. dollar denominated debt under the multi-currency uncommitted shelf facility, $16.4 million of the Company's committed loan and $20.0 million of its revolving loan.

(3)On February 5, 2013, the Company entered into a second amendment of the amended and restated credit agreement.  The amendment increased the commitment amount from $25.0 million to $100.0 million from February 2013 to February 2014, after which the commitment amount returns to the current level over a three-month period.