Long-Term Debt (Tables)

3 Months Ended

Mar. 29, 2019

The Company's long-term debt consists of the following (annualized interest rates, in millions):



	As of
	March 29, 2019			December 31, 2018
Amended Credit Agreement:
Revolving Credit Facility due 2021, interest payable monthly at 3.75% and 3.77%, respectively	$	400.0		$	400.0
Term Loan “B” Facility due 2023, interest payable monthly at 4.25% and 4.27%, respectively	1,134.5			1,134.5
1.00% Notes due 2020 (1)	690.0			690.0
1.625% Notes due 2023 (2)	575.0			575.0
Other long-term debt (3)	131.6			139.5
Gross long-term debt, including current maturities	2,931.1			2,939.0
Less: Debt discount (4)	(129.9		)	(139.4		)
Less: Debt issuance costs (5)	(31.4		)	(33.5		)
Net long-term debt, including current maturities	2,769.8			2,766.1
Less: Current maturities	(130.8		)	(138.5		)
Net long-term debt	$	2,639.0		$	2,627.6

_______________________


(1)	Interest is payable on June 1 and December 1 of each year at 1.00% annually.


(2)	Interest is payable on April 15 and October 15 of each year at 1.625% annually.


(3)	Consists of U.S. real estate mortgages, term loans, revolving lines of credit and other facilities at certain international locations where interest is payable weekly, monthly or quarterly, with interest rates ranging between 1.00% and 4.00% and maturity dates between 2019 and 2020.


(4)	Debt discount of $36.4 million and $41.6 million for the 1.00% Notes, $84.7 million and $88.5 million for the 1.625% Notes and $8.8 million and $9.3 million for the Term Loan "B" Facility, in each case as of March 29, 2019 and December 31, 2018, respectively.


(5)	Debt issuance costs of $5.1 million and $5.8 million for the 1.00% Notes, $8.0 million and $8.5 million for the 1.625% Notes and $18.3 million and $19.2 million for the Term Loan "B" Facility, in each case as of March 29, 2019 and December 31, 2018, respectively.

Annual Maturities Relating To Long-Term Debt

Expected maturities relating to the Company’s gross long-term debt (including current maturities) as of March 29, 2019 are as follows (in millions):



Period	Expected Maturities
Remainder of 2019	$	78.8
2020	742.7
2021	400.0
2022	—
2023	1,709.6
Thereafter	—
Total	$	2,931.1

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details