Long-Term Debt

Long-term debt consists of the following (in millions):



	As of
	June 30, 2018			December 31, 2017
Term Loan Facility (due February 17, 2024)	$	6,356.5		$	6,388.7
2017 4.25% Senior Notes (due May 15, 2024)	1,500.0			1,500.0
2015 4.625% Senior Notes (due January 15, 2022)	1,250.0			1,250.0
2017 5.00% Senior Notes (due October 15, 2025)	2,800.0			2,800.0
Other	82.3			89.1
Less: unamortized deferred financing costs and deferred issue discount	(156.0		)	(170.1		)
Total debt, net	11,832.8			11,857.7
Less: current maturities of debt	(56.8		)	(56.8		)
Total long-term debt	$	11,776.0		$	11,800.9

Revolving Credit Facility

As of June 30, 2018, we had no amounts outstanding under our senior secured revolving credit facility (the "Revolving Credit Facility"). Funds available under the Revolving Credit Facility may be used to repay other debt, finance debt or share repurchases, fund acquisitions or capital expenditures and for other general corporate purposes. We have a $125.0 million letter of credit sublimit as part of the Revolving Credit Facility, which reduces our borrowing availability thereunder by the cumulative amount of outstanding letters of credit. As of June 30, 2018, we had $4.5 million of letters of credit issued against the Revolving Credit Facility, and our borrowing availability was $495.5 million.

Fair Value Measurement

The fair value of our variable rate term debt and senior notes is estimated using inputs based on bid and offer prices that are Level 2 inputs and was $11.7 billion and $12.0 billion at June 30, 2018 and December 31, 2017, respectively, compared to a principal carrying amount of $11.9 billion and $11.9 billion, respectively, on the same dates.

Interest Expense, net

Interest expense, net consists of the following (in millions):



	Three Months Ended June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
Debt (a)	$	120.8		$	118.9		$	250.2		$	218.9
Capital lease obligations	5.4			5.0			11.5			10.0
Amortization of deferred financing costs and debt issuance discount	7.3			8.2			14.5			16.7
Interest income	(3.7		)	(4.1		)	(6.3		)	(6.2		)
Interest expense, net	$	129.8		$	128.0		$	269.9		$	239.4


(a)	Amount includes $19.9 million and $23.5 million benefit during the three and six months ended June 30, 2018 from our adoption of a new hedge accounting standard. See Note 3, New Accounting Pronouncements, for further details of the effects of this change in accounting principle on Interest expense, net.