INDEBTEDNESS (Tables)

12 Months Ended

Dec. 31, 2012

Summary of Total Indebtedness

The following table summarizes total indebtedness:

	December 31,
	2012			2011
2012 Facility	$	—		$	—
Commercial paper		—			—
Notes payable:
Series 2005-1 Notes due 2015, including fair value of interest rate swap of $13.8 million at 2012 and $11.5 million at 2011		313.8			311.5
Series 2007-1 Notes due in 2017		300.0			300.0
2010 Senior Notes, due 2020, net of unamortized discount of $2.6 million and $2.7 million in 2012 and 2011, respectively		497.4			497.3
2012 Senior Notes, due 2022, net of unamortized discount of $3.8 million in 2012		496.2			—
2008 Term Loan, various payments through 2013		63.8			135.0
Total debt		1,671.2			1,243.8
Current portion		(63.8	)		(71.3	)
Total long-term debt	$	1,607.4		$	1,172.5

Principal Payments Due on Long-Term Borrowings

The principal payments due on the Company’s long-term borrowings for each of the next five years are presented in the table below:

Year Ending December 31,	2008 Term Loan		Series 2005-1 Notes		Series 2007-1 Notes		2010 Senior Notes		2012 Senior Notes		Total
2013	$	63.8	$	—	$	—	$	—	$	—	$	63.8
2014		—		—		—		—		—		—
2015		—		300.0		—		—		—		300.0
2016		—		—		—		—		—		—
2017		—		—		300.0		—		—		300.0
Thereafter		—				—		500.0		500.0		1,000.0
Total	$	63.8	$	300.0	$	300.0	$	500.0	$	500.0	$	1,663.8

Summary of Components of Interest as Presented in Consolidated Statements of Operations

The following table summarizes the components of interest as presented in the consolidated statements of operations:

	Year Ended December 31,
	2012			2011			2010
Income	$	5.2		$	5.3		$	3.1
Expense on borrowings		(73.8	)		(65.5	)		(52.2	)
UTBs and other tax related interest		0.4			(8.7	)		(7.7	)
Legacy Tax (a)		4.4			3.7			2.5
Interest capitalized		—			3.1			1.8
Total	$	(63.8	)	$	(62.1	)	$	(52.5	)
Interest paid (b)	$94.4			$	67.2		$	44.0

(a) Represents a reduction of accrued interest related to the favorable resolution of Legacy Tax Matters, further discussed in Note 17 to the consolidated financial statements.

(b) Interest paid includes payments of interest relating to the settlement of income tax audits in the first quarter of 2012 as well as net settlements on interest rate swaps more fully discussed in Note 5.

Fair Value and Carrying Value of Long-Term Debt

The fair value and carrying value of the Company’s long-term debt as of December 31, 2012 and 2011 is as follows:

	December 31, 2012				December 31, 2011
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Series 2005-1 Notes*	$	313.8	$	326.1	$	311.5	$	316.5
Series 2007-1 Notes		300.0		348.3		300.0		332.7
2010 Senior Notes		497.4		562.8		497.3		534.1
2012 Senior Notes		496.2		528.8		—		—
2008 Term Loan		63.8		63.8		135.0		135.0
Total	$	1,671.2	$	1,829.8	$	1,243.8	$	1,318.3

* The carrying amount includes a $13.8 million and $11.5 million fair value adjustment on an interest rate hedge at December 31, 2012 and 2011, respectively.