Long-Term Debt and Notes Payable

9 Months Ended

Sep. 30, 2014

Long-Term Debt and Short-Term Borrowings

The following table summarizes the Company’s debt as of September 30, 2014 and December 31, 2013:



(in thousands)	September 30, 2014		December 31, 2013
Long-term debt consists of:
2.75% notes due 2018	$	249,971	$	249,965
4.45% notes due 2023	299,977		299,976
6.55% notes due 2036	199,254		199,229
Total long-term debt	$	749,202	$	749,170
Short-term borrowings	$	114,814	$	125,826

During the nine months ended September 30, 2014, the Company repaid $11 million against its Amended and Restated Credit Agreement five year credit facility which is classified as short-term on our Condensed Consolidated Balance Sheets.

- 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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