Debt (Tables)

12 Months Ended

Dec. 31, 2018

Short-Term Debt is comprised of the following:



In millions	2018		2017
Short Term Borrowings	$	11.7	$	9.1
Current Portion of Capital Lease Obligations	3.8		2.2
Current Portion of Long-Term Debt	36.5		50.0
Total	$	52.0	$	61.3

Schedule of Long-term Debt Instruments

Long-Term Debt is comprised of the following:



In millions	2018		2017
Senior Notes with interest payable semi-annually at 4.125%, effective rate of 4.18%, payable in 2024	$	300.0	$	300.0
Senior Notes with interest payable semi-annually at 4.875%, effective rate of 4.92%, payable in 2022	250.0		250.0
Senior Notes with interest payable semi-annually at 4.75%, effective rate of 4.77%, payable in 2021	425.0		425.0
Senior Secured Term Loan Facilities with interest payable at various dates at floating rates (3.89% at December 31, 2018) payable through 2023	1,432.6		925.0
Senior Secured Revolving Credit Facilities with interest payable at floating rates (3.63% at December 31, 2018) payable in 2023	399.0		319.0
Capital Lease and Financing Obligations	122.9		30.0
Other	26.5		28.9
Total Long-Term Debt	2,956.0		2,277.9
Less: Current Portion	40.3		52.2
	2,915.7		2,225.7
Less: Unamortized Deferred Debt Issuance Costs	10.6		12.5
Total	$	2,905.1	$	2,213.2

Schedule of Maturities of Long-term Debt

Long-Term Debt maturities (excluding capital leases) are as follows:



In millions
2019	$	36.5
2020	56.6
2021	489.4
2022	378.4
2023	1,567.6
After 2023	304.6
Total	$	2,833.1

Schedule of Credit Facilities

At December 31, 2018, the Company and its U.S. and international subsidiaries had the following commitments, amounts outstanding and amounts available under revolving credit facilities:



In millions	Total Commitments		Total Outstanding		Total Available
Senior Secured Domestic Revolving Credit Facility ^(a)	$	1,450.0	$	329.0	$	1,098.3
Senior Secured International Revolving Credit Facilities	180.8		70.0		110.8
Other International Facilities	65.4		38.3		27.1
Total	$	1,696.2	$	437.3	$	1,236.2

^(a)

In accordance with its debt agreements, the Company's availability under its Revolving Credit Facility has been reduced by the amount of standby letters of credit issued of $22.7 million as of December 31, 2018. These letters of credit are primarily used as security against its self-insurance obligations and workers' compensation obligations. These letters of credit expire throughout 2019 unless extended.

The following describes the Senior Secured Term Loan and Revolving Credit Facilities:



Date	Document^(a)	Provision	Expiration^(b)
March 2012	Amended and Restated Credit Agreement	•$1.0 billion revolving credit facility •$1.0 billion amortizing term loan facility •LIBOR plus variable spread (between 175 basis points and 275 basis points) depending on consolidated total leverage ratio
December 2012	Amendment No. 1 to Credit Agreement	•$300 million incremental term loan
September 2013	Amendment No. 2 to Credit Agreement	•Added €75 million (approximately $100 million) revolving credit facility for borrowings in Euro and Pound Sterling and a ¥2.5 billion (approximately $25 million) revolving credit facility for borrowings in Yen. LIBOR plus variable spread (between 150 basis points and 250 basis points) depending on consolidated total leverage ratio
June 2014	Amendment No. 3 to Credit Agreement	•Increased revolving credit facility under which borrowings can be made in Euros or Sterling by €63 million (approximately $86 million)
October 2014	Second Amended and Restated Credit Agreement	•Increased the domestic revolving credit facility by $250 million and reduced the term loan by approximately $169 million. LIBOR plus variable spread (between 125 basis points and 225 basis points) depending on consolidated total leverage ratio
January 2018	Third Amended and Restated Credit Agreement	•Increased the domestic revolving credit facility by $200 million to $1,450 million and reduced the term loan by approximately $125 million to $800 million. LIBOR plus variable spread (between 125 basis points and 200 basis points) depending on consolidated total leverage ratio •Assumed the term loan indebtedness as part of the NACP Combination in an aggregate amount of $660.0 million	January 2023

^(a) The Company's obligations under the Credit Agreement are secured by substantially all of the Company's domestic assets.

^(b) Expiration date is amended to most recent expiration of January 2023.

- 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.

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+ Details