Indebtedness

3 Months Ended

Mar. 30, 2019

INDEBTEDNESS

Total borrowings outstanding are summarized as follows (in millions):



			March 30, 2019			December 31, 2018
Term loans
	2018 Term loan due March 8, 2020⁽¹⁾		$	331.3		$	351.3
Notes and Bonds
	Coupon	Due
	5.000%	May 23, 2019⁽¹⁾	134.6			137.6
	3.500%	March 15, 2021	280.4			280.4
	3.500%	December 15, 2021	309.6			309.6
	5.105%	July 19, 2023⁽¹⁾	151.5			154.9
	4.000%	November 15, 2023	215.6			215.6
	3.900%	December 15, 2024	700.0			700.0
	4.375%	March 15, 2026	700.0			700.0
	5.300%	November 15, 2043	90.5			90.5
	4.900%	December 15, 2044	303.9			303.9
	Total notes and bonds		2,886.1			2,892.5
Other financing			6.2			2.8
Unamortized premium (discount), net			9.8			12.2
Deferred financing fees			(15.6		)	(16.4		)
Total borrowings outstanding			3,217.8			3,242.4
	Current indebtedness		(467.9		)	(190.2		)
Total long-term debt less current portion			$	2,749.9		$	3,052.2

(1) Debt denominated in euros subject to fluctuations in the euro-to-U.S. dollar exchange rate.

We are in compliance with all covenants under our debt agreements as of March 30, 2019.

Revolving Credit Agreements

On March 8, 2018, we terminated the revolving credit agreement entered into on December 5, 2014 and entered into a $1.0 billion revolving credit agreement maturing on March 8, 2023 (the "2014 Revolver"). There were no borrowings outstanding under the 2018 Revolver as of March 30, 2019 or December 31, 2018.

Term Loans

On December 5, 2014, Perrigo Finance entered into a term loan agreement consisting of a €500.0 million ($614.3 million) tranche, maturing December 5, 2019. On March 8, 2018, we refinanced the €350.0 million outstanding under the term loan with the proceeds of a new €350.0 million ($431.0 million) term loan, maturing March 8, 2020 (the "2018 Term Loan"). In addition, as a result of the refinancing during the three months ended March 31, 2018, we recorded a loss of $0.5 million, consisting of the write-off of deferred financing fees in Loss on extinguishment of debt on the Condensed Consolidated Statements of Operations. During the three months ended March 30, 2019, we made $12.3 million in scheduled principal payments on the 2018 Term Loan.

Other Financing

We have overdraft facilities available that we use to support our cash management operations. We report any balances outstanding in the above table under "Other financing". There were no borrowings outstanding at March 30, 2019 or December 31, 2018.

We have financing leases that are reported in the above table under "Other financing" (refer to Note 8).