DEBT

Debt consisted of the following:



(In millions)	June 28, 2014			December 28, 2013
Prudential Agreement - 5.79 percent	$	150.0		$	150.0
Tax increment financing debt	24.1			24.6
Revolver	48.2			—
Capital leases	1.0			0.8
Foreign subsidiary debt	21.9			14.2
	245.2			189.6
Less current maturities	(69.8		)	(15.4		)
Long-term debt	$	175.4		$	174.2

Foreign subsidiary debt denoted in the table above is predominately comprised of debt at Impo and Bombas Leao.

On June 6, 2014, the Company assumed debt relating to the acquisition of Bombas Leao (see Note 3) of BRL 12.4 million, $5.5 million at the then current exchange rate. The debt instruments bear interest rates ranging from 2.50 percent to 19.42 percent, with due dates ranging from November 2014 - November 2017. There are no financial covenants associated with these debt instruments.

The total estimated fair value of debt was $259.9 million and $203.7 million at June 28, 2014 and December 28, 2013, 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. Accordingly, the fair value of debt is classified as a Level 2 within the valuations hierarchy.

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



(In millions)	Total		2014		2015		2016		2017		2018		More than 5 years
Debt	$	244.2	$	69.4	$	31.2	$	32.2	$	31.1	$	31.0	$	49.3
Capital leases	1.0		0.4		0.2		0.2		0.1		0.1		—
	$	245.2	$	69.8	$	31.4	$	32.4	$	31.2	$	31.1	$	49.3