Debt and Credit Facilities

3 Months Ended

Mar. 31, 2013

Short-term borrowings and current maturities of long-term debt consisted of the following:



In millions	March 31, 2013		December 31, 2012
Debentures with put feature	$	343.0	$	343.0
6.000% Senior notes due 2013	600.0		600.0
Other current maturities of long-term debt	9.0		10.8
Other short-term borrowings	13.1		9.9
Total	$	965.1	$	963.7

Commercial Paper Program

The Company uses borrowings under its commercial paper program for general corporate purposes. The Company had no commercial paper outstanding at March 31, 2013 and December 31, 2012, respectively.

Debentures with Put Feature

At March 31, 2013 and December 31, 2012, the Company had $343.0 million of fixed rate debentures outstanding, which only require early repayment at the option of the holder. These debentures contain a put feature that the holders may exercise on each anniversary of the issuance date. If exercised, the Company is obligated to repay in whole or in part, at the holder’s option, the outstanding principal amount (plus accrued and unpaid interest) of the debentures held by the holder. If these options are not exercised, the final maturity dates would range between 2027 and 2028.

On February 15, 2013, holders of these debentures had the option to exercise the put feature on $37.2 million of the outstanding debentures. No holder chose to exercise the put feature at that date.

Long-term debt excluding current maturities consisted of the following:



In millions	March 31, 2013		December 31, 2012
9.500% Senior notes due 2014	655.0		655.0
5.50% Senior notes due 2015	198.4		196.4
4.75% Senior notes due 2015	299.7		299.7
6.875% Senior notes due 2018	749.4		749.4
9.00% Debentures due 2021	125.0		125.0
7.20% Debentures due 2014-2025	90.0		90.0
6.48% Debentures due 2025	149.7		149.7
Other loans and notes	3.9		4.1
Total	$	2,271.1	$	2,269.3

Credit Facilities

As of March 31, 2013, the Company has a 5-year, $1.0 billion revolving credit facility maturing on March 15, 2017, and a 4-year, $1.0 billion revolving credit facility maturing on May 20, 2015, through its wholly-owned subsidiary, Ingersoll-Rand Global Holding Company Limited (IR-Global).

IR-Ireland, Ingersoll-Rand Company Limited (IR-Limited), and Ingersoll-Rand International Holding Limited (IR-International) have each provided an irrevocable and unconditional guarantee for these credit facilities. The total committed revolving credit facilities of $2.0 billion are unused and provide support for the Company's commercial paper program, as well as for other general corporate purposes.

- Definition

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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