Debt (Tables)

12 Months Ended

Dec. 31, 2016

The Company’s debt at December 31, 2016 and 2015 consisted of the following:

	2016			2015
Borrowings under the credit facility	$	185.0		$	—
8.60% senior notes due August 15, 2016		—			219.6
11.25% senior notes due February 1, 2019 _(a)		172.2			172.2
7.625% senior notes due June 15, 2020		350.0			350.0
7.875% senior notes due March 15, 2021		448.8			448.5
8.875% debentures due April 15, 2021		80.9			80.9
7.00% senior notes due February 15, 2022		140.0			140.0
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)		8.5			13.3
Unamortized debt issuance costs		(16.5	)		(24.3	)
Total debt		2,387.4			2,418.7
Less: current portion		(8.2	)		(231.9	)
Long-term debt	$	2,379.2		$	2,186.8

(a)

As of December 31, 2015, 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. As a result of a ratings downgrade on February 2, 2016, the interest rate increased from 12.75% to 13.0% in February 2016. As a result of a ratings downgrade on October 6, 2016, the rate increased to 13.25%. The maximum interest rate on these notes is 13.25%.

(b)	Includes miscellaneous debt obligations and capital leases.

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Future Maturities of Debt

At December 31, 2016, the future maturities of debt, including capitalized leases, were as follows:

	Amount
2017	$	8.2
2018		0.2
2019		172.2
2020		350.0
2021		716.0
2022 and thereafter		1,159.0
Total ^(a)	$	2,405.6

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(a)	Excludes unamortized debt issuance costs of $16.5 million and $1.7 million of bond discount which do not represent contractual commitments with a fixed amount or maturity date.

Summary Of Interest Expense

The following table summarizes interest expense included in the Consolidated Statements of Operations:

	2016			2015			2014
Interest incurred	$	206.1		$	211.6		$	220.9
Less: interest income		(4.6	)		(3.7	)		(6.1	)
Less: interest capitalized as property, plant and equipment		(2.8	)		(3.8	)		(3.6	)
Interest expense, net	$	198.7		$	204.1		$	211.2