DEBT

Debt consisted of the following:



(In millions)	October 1, 2011			January 1, 2011
Prudential Agreement - 5.79 percent	$	150.0		$	150.0
Capital leases	0.2			0.7
Foreign subsidiary debt	15.4			1.8
	165.6			152.5
Less current maturities	(11.4		)	(1.3		)
Long-term debt	$	154.2		$	151.2

During the second quarter, the Company acquired $13.7 million of debt with the acquisition of the 80 percent interest in Impo. In September 2011, Impo finalized a refinancing plan. As a result of this refinancing, Impo now has approximately $18.5 million of credit available. As of third quarter end, Impo had debt outstanding of approximately $13.9 million, comprised of $10.7 million of current maturities and $3.2 million of long term debt, with interest rates ranging from 3 percent to 13 percent and maturity dates ranging from 2011 to February 2018. The debt at quarter end was denominated in euro, U.S. dollar, and TL currencies and was included in the foreign subsidiary debt line of the above table.

The total estimated fair value of debt was $180.9 million and $162.0 million at October 1, 2011 and January 1, 2011, respectively. The fair value assumed floating rate debt was valued at par. In the absence of quoted prices in active markets considerable judgment is required in developing estimates of fair value. Estimates are not necessarily indicative of the amounts the Company could realize in a current market transaction. In determining the fair value of its long term debt the Company uses estimates based on rates currently available to the Company for debt with similar terms and remaining maturities.

The following debt payments are expected to be paid in accordance with the following schedule:



(In millions)	Total		Year 1		Year 2		Year 3		Year 4		Year 5		More than 5 years
Debt	$	165.4	$	11.2	$	1.2	$	1.0	$	31.0	$	31.0	$	90.0
Capital leases	0.2		0.2		—		—		—		—		—
	$	165.6	$	11.4	$	1.2	$	1.0	$	31.0	$	31.0	$	90.0