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Debt
6 Months Ended
Jun. 30, 2018
Debt Disclosure [Abstract]  
Debt
Debt
Debt consisted of the following: 
 
Interest
Rate as of
June 30,
2018
 
Principal Amount
 
Maturity Date
 
June 30,
2018
 
December 30,
2017
 
Senior Secured Credit Facility:
 
 
 
 
 
 
 
Revolving Loan Facility
3.60%
 
$
488,000

 
$

 
December 2022
Term Loan A
3.48%
 
731,250

 
750,000

 
December 2022
Term Loan B
3.84%
 
497,500

 
500,000

 
December 2024
Australian Term A-1
3.47%
 
128,860

 
135,826

 
July 2019
4.875% Senior Notes
4.88%
 
900,000

 
900,000

 
May 2026
4.625% Senior Notes
4.63%
 
900,000

 
900,000

 
May 2024
3.5% Senior Notes
3.50%
 
584,249

 
599,649

 
June 2024
European Revolving Loan Facility
1.50%
 
116,850

 
81,539

 
September 2018
Accounts Receivable Securitization Facility
2.81%
 
153,386

 
125,209

 
March 2019
Other International Debt
Various
 
22,103

 
1,044

 
Various
 
 
 
4,522,198

 
3,993,267

 
 
Less long-term debt issuance cost
 
 
38,262

 
41,624

 
 
Less current maturities
 
 
334,735

 
249,589

 
 
 
 
 
$
4,149,201

 
$
3,702,054

 
 

As of June 30, 2018, the Company had $507,915 of borrowing availability under the $1,000,000 Revolving Loan Facility after taking into account outstanding borrowings and $4,085 of standby and trade letters of credit issued and outstanding under this facility. The Company’s maximum borrowing capacity under the Accounts Receivable Securitization Facility was $200,000 as of June 30, 2018, however based on the outstanding borrowings and net eligible receivables balance within the collateral pool, the Accounts Receivable Securitization Facility was fully utilized as of June 30, 2018. Borrowings under the Accounts Receivable Securitization Facility are permitted only to the extent that the face of the receivables in the collateral pool, net of applicable reserves and other deductions, exceeds the outstanding loans and also subject to a fluctuating facility limit, not to exceed $225,000. The Company had $47,710 of borrowing availability under the Australian Revolving Loan Facility, no borrowing availability under the European Revolving Loan Facility and $120,726 of borrowing availability under other international lines of credit after taking into account outstanding borrowings and letters of credit outstanding under the applicable facility.
In March 2018, the Company amended the Accounts Receivable Securitization Facility that it entered into in November 2007 (the “Accounts Receivable Securitization Facility”). This amendment primarily extended the maturity date to March 2019. In June 2018, the Company amended the Accounts Receivable Securitization Facility to remove certain receivables from being pledged as collateral for the facility and reduce the maximum availability to $225,000.
As of June 30, 2018, the Company was in compliance with all financial covenants under its credit facilities.