13. Debt

The Company’s debt at September 30, 2015 and December 31, 2014 consisted of the following:

	September 30,			December 31,
	2015			2014
Borrowings under the Credit Agreement	$	225.0		$	—
5.50% senior notes due May 15, 2015		—			200.0
8.60% senior notes due August 15, 2016		219.4			219.1
6.125% senior notes due January 15, 2017		251.2			251.0
7.25% senior notes due May 15, 2018		250.0			250.0
11.25% senior notes due February 1, 2019 _(a)		172.2			172.2
8.25% senior notes due March 15, 2019		238.9			238.9
7.625% senior notes due June 15, 2020		350.0			350.0
7.875% senior notes due March 15, 2021		448.5			448.3
8.875% debentures due April 15, 2021		80.9			80.9
7.00% senior notes due February 15, 2022		400.0			400.0
6.50% senior notes due November 15, 2023		350.0			350.0
6.00% senior notes due April 1, 2024		400.0			400.0
6.625% debentures due April 15, 2029		199.5			199.5
8.820% debentures due April 15, 2031		69.0			69.0
Other _(b)		21.7			3.6
Total debt		3,676.3			3,632.5
Less: current portion		(460.2	)		(203.4	)
Long-term debt	$	3,216.1		$	3,429.1

(a)	As of September 30, 2015 and December 31, 2014, the interest rate on the 11.25% senior notes due February 1, 2019 was 12.75% as a result of downgrades in the ratings of the notes by the rating agencies.

(b)	Includes fair value adjustments to the 8.25% senior notes due March 15, 2019 related to the Company’s fair value hedges, miscellaneous debt obligations and capital leases.

The fair values of the senior notes and debentures, which were determined using the market approach based upon interest rates available to the Company for borrowings with similar terms and maturities, were determined to be Level 2 under the fair value hierarchy. The fair value of the Company’s debt was greater than its book value by approximately $3.2 million and $259.5 million at September 30, 2015 and December 31, 2014, respectively.

Effective September 9, 2014, the aggregate revolving commitments of the Lenders under the Company’s senior secured revolving credit facility (the “Credit Agreement”) were increased from $1.15 billion to $1.5 billion and the expiration date of the Credit Agreement was extended from October 15, 2017 to September 9, 2019.

The Credit Agreement is subject to a number of covenants, including a minimum Interest Coverage Ratio and a maximum Leverage Ratio, as defined and calculated pursuant to the Credit Agreement, that, in part, restrict the Company’s ability to incur additional indebtedness, create liens, engage in mergers and consolidations, make restricted payments and dispose of certain assets. The Credit Agreement generally allows annual dividend payments of up to $225.0 million in aggregate, though additional dividends may be allowed subject to certain conditions.

The weighted average interest rate on borrowings under the Credit Agreement was 2.0% during the nine months ended September 30, 2015 and 2014.

Cash on hand and borrowings under the Credit Agreement were used to pay the $200.0 million 5.50% senior notes that matured on May 15, 2015.

On March 20, 2014, the Company issued $400.0 million of 6.00% senior notes due April 1, 2024. Interest on the notes is payable semi-annually on April 1 and October 1, and commenced on October 1, 2014. The net proceeds from the offering along with borrowings under the Credit Agreement were used to repurchase $211.1 million of the 8.25% senior notes due March 15, 2019, $100.0 million of the 7.25% senior notes due May 15, 2018, and $50.0 million of the 7.625% senior notes due June 15, 2020. The repurchases resulted in a pre-tax loss on debt extinguishment of $77.1 million for the nine months ended September 30, 2014 related to the premiums paid, unamortized debt issuance costs, elimination of the $2.8 million fair value adjustment on the 8.25% senior notes and other expenses.

Interest income was $1.3 million and $4.2 million for the three and nine months ended September 30, 2015, respectively, and $1.9 million and $6.6 million for the three and nine months ended September 30, 2014, respectively.