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Debt
6 Months Ended
Jun. 30, 2016
Debt Disclosure [Abstract]  
DEBT
DEBT
Debt consisted of the following at June 30, 2016:
 
June 30, 2016
 
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 125 million Senior Notes due June 17, 2030

 
138,183

 
138,183

Debt issuance costs, net
(1,344
)
 
(399
)
 
(1,743
)
Total Senior Notes
348,656

 
137,784

 
486,440

$800 million Credit Agreement, interest at LIBOR plus 87.5 basis points
157,952

 
48,871

 
206,823

Other local arrangements

 
20,945

 
20,945

Total debt
506,608

 
207,600

 
714,208

Less: current portion

 
(20,945
)
 
(20,945
)
Total long-term debt
$
506,608

 
$
186,655

 
$
693,263


As of June 30, 2016, the Company had $588.6 million of availability remaining under its Credit Agreement.

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 (loss) recorded in other comprehensive income (loss) related to this net investment hedge was a gain of $2.0 million and $0.5 million for the three months ended June 30, 2016 and 2015, respectively, and a loss of $1.6 million and a gain $0.5 million for the six months periods ended June 30, 2016 and 2015, respectively.