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Debt and Subordinated Convertible Debentures (Schedule of long-term debt instruments) (Details) (USD $)
3 Months Ended 3 Months Ended 1 Months Ended 3 Months Ended 0 Months Ended 1 Months Ended 0 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Dec. 31, 2013
Mar. 31, 2014
Accounts Receivable Securitization Facility
Mar. 31, 2014
$2.3 billion ABL Facility
Mar. 31, 2014
5 3/4 percent Senior Secured Notes
Mar. 31, 2014
10 1/4 percent Senior Notes
Jan. 31, 2014
10 1/4 percent Senior Notes
Mar. 31, 2014
9 1/4 percent Senior Notes
Mar. 31, 2014
7 3/8 percent Senior Notes
Mar. 31, 2014
8 3/8 percent Senior Subordinated Notes
Mar. 31, 2014
8 1/4 percent Senior Notes
Mar. 31, 2014
7 5/8 percent Senior Notes
Mar. 31, 2014
6 1/8 percent Senior Notes
Mar. 31, 2014
Add-on to 6 1/8 percent Senior Notes
Mar. 31, 2014
5 3/4 percent Senior Notes
Mar. 31, 2014
Convertible subordinated notes—4 percent
Nov. 30, 2009
Convertible subordinated notes—4 percent
Mar. 31, 2014
Subsidiaries
Accounts Receivable Securitization Facility
Dec. 31, 2013
Subsidiaries
Accounts Receivable Securitization Facility
Mar. 31, 2014
Subsidiaries
$2.3 billion ABL Facility
Dec. 31, 2013
Subsidiaries
$2.3 billion ABL Facility
Mar. 31, 2014
Subsidiaries
5 3/4 percent Senior Secured Notes
Dec. 31, 2013
Subsidiaries
5 3/4 percent Senior Secured Notes
Mar. 31, 2014
Subsidiaries
10 1/4 percent Senior Notes
Dec. 31, 2013
Subsidiaries
10 1/4 percent Senior Notes
Mar. 31, 2014
Subsidiaries
9 1/4 percent Senior Notes
Dec. 31, 2013
Subsidiaries
9 1/4 percent Senior Notes
Mar. 31, 2014
Subsidiaries
7 3/8 percent Senior Notes
Dec. 31, 2013
Subsidiaries
7 3/8 percent Senior Notes
Mar. 31, 2014
Subsidiaries
8 3/8 percent Senior Subordinated Notes
Dec. 31, 2013
Subsidiaries
8 3/8 percent Senior Subordinated Notes
Mar. 31, 2014
Subsidiaries
8 1/4 percent Senior Notes
Dec. 31, 2013
Subsidiaries
8 1/4 percent Senior Notes
Mar. 31, 2014
Subsidiaries
7 5/8 percent Senior Notes
Dec. 31, 2013
Subsidiaries
7 5/8 percent Senior Notes
Mar. 31, 2014
Subsidiaries
6 1/8 percent Senior Notes
Dec. 31, 2013
Subsidiaries
6 1/8 percent Senior Notes
Mar. 31, 2014
Subsidiaries
5 3/4 percent Senior Notes
Dec. 31, 2013
Subsidiaries
5 3/4 percent Senior Notes
Mar. 31, 2014
Subsidiaries
Capital leases
Dec. 31, 2013
Subsidiaries
Capital leases
Mar. 31, 2014
Subsidiaries
Total URNA and subsidiaries debt
Dec. 31, 2013
Subsidiaries
Total URNA and subsidiaries debt
Mar. 31, 2014
Parent Company
Dec. 31, 2013
Parent Company
Mar. 31, 2014
Parent Company
Convertible subordinated notes—4 percent
Dec. 31, 2013
Parent Company
Convertible subordinated notes—4 percent
Apr. 16, 2014
Subsequent Event
9 1/4 percent Senior Notes
Apr. 16, 2014
Subsequent Event
Convertible subordinated notes—4 percent
Mar. 31, 2014
On or after May 15, 2019
5 3/4 percent Senior Notes
Mar. 31, 2014
On or after May 15, 2022
5 3/4 percent Senior Notes
Jan. 31, 2014
Interest Expense
10 1/4 percent Senior Notes
Apr. 16, 2014
Interest Expense
Subsequent Event
9 1/4 percent Senior Notes
Debt Instrument                                                                                                            
Total debt $ 7,039,000,000   $ 7,173,000,000                               $ 140,000,000 [1] $ 430,000,000 [1] $ 135,000,000 [2] $ 1,106,000,000 [2] $ 750,000,000 $ 750,000,000 $ 0 [3] $ 220,000,000 [3] $ 494,000,000 [4] $ 494,000,000 [4] $ 750,000,000 $ 750,000,000 $ 750,000,000 $ 750,000,000 $ 691,000,000 $ 692,000,000 $ 1,325,000,000 $ 1,325,000,000 $ 953,000,000 [5] $ 400,000,000 [5] $ 850,000,000 [6] $ 0 [6] $ 112,000,000 $ 120,000,000 $ 6,950,000,000 $ 7,037,000,000     $ 89,000,000 [7] $ 136,000,000 [7]            
Less short-term portion (265,000,000) [8]   (604,000,000) [8]                                                                                   (89,000,000) (136,000,000)                
Total long-term debt 6,774,000,000   6,569,000,000                                                                                   0 0                
Stated interest rate 4.00%         5.75% 10.25%   9.25% 7.375% 8.375% 8.25% 7.625% 6.125%   5.75% 4.00%                                                                          
Maximum borrowing capacity                                         2,300,000,000.0                                                                  
Unused borrowing capacity under facility       313,000,000 2,100,000,000                                                                                                  
Interest rate at end of period       0.80% 3.40%                                                                                                  
Average outstanding amount under facility       331,000,000                                                                                                    
Weighted average interest rate       0.80% 2.50%                                                                                                  
A/R Securitization maximum month-end outstanding amount       427,000,000                                                                                                    
Collateral amount       453,000,000                                                                                                    
Letters of credit outstanding         52,000,000                                                                                                  
Average outstanding amount         873,000,000                                                                                                  
ABL Facility maximum month-end outstanding amount         1,300,000,000                                                                                                  
Debt redemption, call premium amount               26,000,000                                                                                 52,000,000          
Face amount                           925,000,000 525,000,000 850,000,000 100,000,000 173,000,000                                                                        
Unamortized premium                             28,000,000                                                                              
Effective interest rate                           5.70%     6.60%                                                                          
Proceeds from debt 2,398,000,000 631,000,000                         546,000,000 837,000,000                                                                            
Debt redemption price, percentage                               101.00%                                                                     102.875% 100.00%    
Unamortized discount                                 11,000,000                                                                          
Extinguishment of debt, amount                                 56,000,000                                                                 4,000,000        
Gain (loss) on extinguishment of debt securities $ (11,000,000) $ 0                             $ (5,000,000)                                                                       $ (6,000,000) $ (65,000,000)
Convertible, conversion price (in dollars per share)                                 $ 11.11                                                                          
[1] At March 31, 2014, $313 was available under our accounts receivable securitization facility. The interest rate applicable to the accounts receivable securitization facility was 0.8 percent at March 31, 2014. During the three months ended March 31, 2014, the monthly average amount outstanding under the accounts receivable securitization facility was $331, and the weighted-average interest rate thereon was 0.8 percent. The maximum month-end amount outstanding under the accounts receivable securitization facility during the three months ended March 31, 2014 was $427. Borrowings under the accounts receivable securitization facility are permitted only to the extent that the face amount of the receivables in the collateral pool, net of applicable reserves, exceeds the outstanding loans. As of March 31, 2014, there were $453 of receivables, net of applicable reserves, in the collateral pool.
[2] At March 31, 2014, $2.1 billion was available under our ABL facility, net of $52 of letters of credit. The interest rate applicable to the ABL facility was 3.4 percent at March 31, 2014. During the three months ended March 31, 2014, the monthly average amount outstanding under the ABL facility was $873, and the weighted-average interest rate thereon was 2.5 percent. The maximum month-end amount outstanding under the ABL facility during the three months ended March 31, 2014 was $1.3 billion.
[3] In January 2014, we redeemed all of our 10 1/4 percent Senior Notes. We paid a call premium of $26 in connection with the redemption, and recognized a loss of approximately $6 in interest expense, net upon redemption. The loss represented the difference between the net carrying amount and the total purchase price of the notes.
[4] As discussed in note 10 to the condensed consolidated financial statements, in March 2014, we announced that we were acquiring assets of the following four entities: National Pump & Compressor, Ltd., Canadian Pump and Compressor Ltd., GulfCo Industrial Equipment, LP and LD Services, LLC (collectively “National Pump”). Using proceeds from debt issued contemporaneous with the National Pump acquisition, as discussed below, and cash on hand, we redeemed all the outstanding 9 1/4 percent Senior Notes in April 2014. We paid a call premium of approximately $52 in connection with the redemption and recognized a loss of approximately $65 in interest expense upon redemption. The loss represented the difference between the net carrying amount and the total purchase price of the notes.
[5] Contemporaneous with the National Pump acquisition described in note 10 to the condensed consolidated financial statements, in March 2014, URNA issued $525 principal amount of 6 1/8 percent Senior Notes as an add on to our existing 6 1/8 percent Senior Notes. The net proceeds from the issuance were $546 (after deducting offering expenses). The newly issued notes have identical terms, and are fungible, with the 6 1/8 percent Senior Notes outstanding at December 31, 2013. The difference between the carrying value of the 6 1/8 percent Senior Notes and the $925 principal amount relates to the $28 unamortized portion of the original issue premium recognized in conjunction with the March 2014 issuance, which is being amortized through the maturity date in 2023. The effective interest rate on the 6 1/8 percent Senior Notes is 5.7 percent.
[6] In connection with the National Pump acquisition described in note 10 to the condensed consolidated financial statements, in March 2014, URNA issued $850 principal amount of 5 3/4 percent Senior Notes which are due November 15, 2024. The net proceeds from the issuance were $837 (after deducting offering expenses). The net proceeds were used to finance in part the cash purchase price of the National Pump acquisition which closed in April 2014. The 5 3/4 percent Senior Notes are unsecured and are guaranteed by Holdings and, subject to limited exceptions, URNA's domestic subsidiaries. The 5 3/4 percent Senior Notes may be redeemed on or after May 15, 2019, at specified redemption prices that range from 102.875 percent in the 12-month period commencing on May 15, 2019, to 100 percent in the 12-month period commencing on May 15, 2022 and thereafter, plus accrued and unpaid interest. The indenture governing the 5 3/4 percent Senior Notes contains certain restrictive covenants, including, among others, limitations on (1) liens; (2) additional indebtedness; (3) mergers, consolidations and acquisitions; (4) sales, transfers and other dispositions of assets; (5) loans and other investments; (6) dividends and other distributions, stock repurchases and redemptions and other restricted payments; (7) restrictions affecting subsidiaries; (8) transactions with affiliates; and (9) designations of unrestricted subsidiaries, as well as a requirement to timely file periodic reports with the SEC. Each of these covenants is subject to important exceptions and qualifications that would allow URI to engage in these activities under certain conditions. The indenture also requires that, in the event of a change of control (as defined in the indenture), URI must make an offer to purchase all of the then-outstanding 5 3/4 percent Senior Notes tendered at a purchase price in cash equal to 101 percent of the principal amount thereof, plus accrued and unpaid interest, if any, thereon.
[7] The difference between the March 31, 2014 carrying value of the 4 percent Convertible Senior Notes and the $100 principal amount reflects the $11 unamortized portion of the original issue discount recognized upon issuance of the notes, which is being amortized through the maturity date of November 15, 2015. Because the 4 percent Convertible Senior Notes were redeemable at March 31, 2014, an amount equal to the $11 unamortized portion of the original issue discount is separately classified in our condensed consolidated balance sheets and referred to as “temporary equity.” During the three months ended March 31, 2014, $56 of our 4 percent Convertible Notes were redeemed. We recognized a loss of approximately $5 in interest expense, net upon redemption. The loss represented the difference between the net carrying amount and the fair value of the debt component of the notes. Based on the price of our common stock during the first quarter of 2014, holders of the 4 percent Convertible Senior Notes have the right to redeem the notes during the second quarter of 2014 at a conversion price of $11.11 per share of common stock. Since April 1, 2014 (the beginning of the second quarter), $4 of the 4 percent Convertible Senior Notes were redeemed.
[8] As of March 31, 2014, our short-term debt primarily reflects $140 of borrowings under our accounts receivable securitization facility and $89 of 4 percent Convertible Senior Notes. The 4 percent Convertible Senior Notes mature in November 2015, but are reflected as short-term debt because they are redeemable at March 31, 2014.