Debt

9 Months Ended

Sep. 30, 2020

Debt consisted of the following at September 30, 2020:


	U.S. Dollar		Other Principal Trading Currencies		Total
3.67% $50 million ten-year Senior Notes due December 17, 2022	$	50,000	$	—	$	50,000
4.10% $50 million ten-year Senior Notes due September 19, 2023	50,000		—		50,000
3.84% $125 million ten-year Senior Notes due September 19, 2024	125,000		—		125,000
4.24% $125 million ten-year Senior Notes due June 25, 2025	125,000		—		125,000
3.91% $75 million ten-year Senior Notes due June 25, 2029	75,000		—		75,000
3.19% $50 million fifteen-year Senior Notes due January 24, 2035	50,000		—		50,000
1.47% Euro 125 million fifteen-year Senior Notes due June 17, 2030	—		145,637		145,637
1.30% Euro 135 million fifteen-year Senior Notes due November 6, 2034	—		157,288		157,288
Debt issuance costs, net	(1,191)		(889)		(2,080)
Total Senior Notes	473,809		302,036		775,845
$1.1 billion Credit Agreement, interest at LIBOR plus 87.5 basis points	321,005		71,024		392,029
Other local arrangements	1,581		54,792		56,373
Total debt	796,395		427,852		1,224,247
Less: current portion	(374)		(54,737)		(55,111)
Total long-term debt	$	796,021	$	373,115	$	1,169,136

As of September 30, 2020, the Company had $700.7 million of additional borrowings available under its Credit Agreement, and the Company maintained $153.7 million of cash and cash equivalents.

On January 24, 2020, the Company issued $50 million Senior notes with a fixed interest rate of 3.19%, which will mature January 24, 2035. The terms of the Senior Notes are consistent with the previously issued Senior Notes as described in the Company's Annual Report on Form 10-K for the year ended December 31, 2019. The Company used the proceeds from the sale of the notes to refinance existing indebtedness and for other general corporate purposes. The Company was in compliance with its debt covenants at September 30, 2020.

The Company has designated the EUR 125 million 1.47% Senior Notes and the EUR 135 million 1.30% 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. 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 Company recorded in other comprehensive income (loss) related to this net investment hedge an unrealized loss of $11.2 million and an unrealized gain of $5.3 million for the three months ended September 30, 2020 and 2019, respectively, and an unrealized loss of $11.3 million and an unrealized gain of $6.3 million for the nine month periods ended September 30, 2020 and 2019, respectively. The Company has a loss of $12.8 million recorded in accumulated other comprehensive income (loss) as of September 30, 2020.

Other Local Arrangements

In April 2018, two of the Company's non-U.S. pension plans issued loans totaling $39.6 million (Swiss franc 38 million) to a wholly owned subsidiary of the Company. The loans have the same terms and conditions, which include an interest rate of Swiss franc LIBOR plus 87.5 basis points. The loans were renewed for one year in April 2020.