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Debt

9 Months Ended

Sep. 30, 2012

Debt [Abstract]

6. Debt

Outstanding debt consisted of the following at December 31, 2011 and September 30, 2012:


		December 31,				September 30,
		2011				2012
Senior notes		$	450,000			$	450,000
Other borrowings			38,652				32,196

Total debt		$	488,652			$	482,196
Less current portion			(33,093	)			(30,153	)

Total long-term debt		$	455,559			$	452,043

Senior ABL Facility

The Company’s senior secured asset-based revolving credit facility (the “Senior ABL Facility”) provides for an aggregate revolving loan availability of up to $125,000, subject to borrowing base availability, including a $45,000 letter of credit sub-facility and a $20,000 swing line sub-facility. The Senior ABL Facility also provides for an uncommitted $25,000 incremental loan facility, for a potential total Senior ABL Facility of $150,000 (if requested by the borrowers and any existing lenders or new lenders agree to fund such increase). No consent of any lender (other than those participating in the increase) is required to effect any such increase. As of September 30, 2012, no amounts were drawn under the Senior ABL Facility, but there were approximately $27,632 of letters of credit outstanding.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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