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Debt
9 Months Ended
Sep. 30, 2015
Debt Disclosure [Abstract]  
DEBT
DEBT
Debt consisted of the following at September 30, 2015:
 
September 30, 2015
 
U.S. Dollar
 
Other Principal Trading Currencies
 
Total
3.67% $50 million Senior Notes due December 17, 2022
50,000

 

 
50,000

4.10% $50 million Senior Notes due September 19, 2023
50,000

 

 
50,000

3.84% $125 million Senior Notes due September 19, 2024
125,000

 

 
125,000

4.24% $125 million Senior Notes due June 25, 2025
125,000

 

 
125,000

1.47% EUR 125m Senior Notes due July 17, 2030

 
139,962

 
139,962

$800 million Credit Agreement, interest at LIBOR plus 75 basis points
100,000

 
11,769

 
111,769

Other local arrangements
283

 
20,778

 
21,061

Total debt
450,283

 
172,509

 
622,792

Less: current portion
(283
)
 
(20,778
)
 
(21,061
)
Total long-term debt
$
450,000

 
$
151,731

 
$
601,731


As of September 30, 2015, the Company had $683.4 million of availability remaining under its Credit Agreement. The Company was in compliance with its covenants at September 30, 2015.

1.47% Euro Senior Notes
The Company has designated the 1.47% Euro Senior Notes as a hedge of a portion of its net investment in euro-denominated foreign subsidiaries to reduce foreign currency risk associated with the net investment in these operations. Changes in the carrying value of this debt resulting from fluctuations in the euro to U.S. dollar exchange rate are recorded as foreign currency translation adjustments within other comprehensive income (loss). The unrealized gain recorded in other comprehensive income (loss) related to this net investment hedge was $0.3 million for the periods ended September 30, 2015.

4.24% Senior Notes
In June 2014, the Company entered into an agreement to issue and sell $250 million of ten-year Senior Notes in a private placement. The Company issued $125 million with a fixed interest rate of 3.84% ("3.84% Senior Notes") in September 2014 and issued an additional $125 million with a fixed interest rate of 4.24% ("4.24% Senior Notes") in June 2015. The Senior Notes are senior unsecured obligations of the Company. The 4.24% Senior Notes were used to repay $100 million of 6.30% Senior Notes which were due June 25, 2015.