Note 6. Borrowings:

Debt consists of the following:


(DOLLARS IN THOUSANDS)	Rate			Maturities		June 30, 2011		December 31, 2010
Bank borrowings and overdrafts		0.48	%			$	93,839	$	11,625
Current portion of long-term debt		5.38	%				122,506		122,274

Total current debt							216,345		133,899

Senior notes - 2007		6.40	%		2017-27		500,000		500,000
Senior notes - 2006		6.10	%		2013-16		225,000		225,000
Bank borrowings		0.48	%		2012		30,424		49,771
Deferred realized gains on interest rate swaps							11,929		12,897

Total long-term debt							767,353		787,668

Total debt						$	983,698	$	921,567

The estimated fair value at June 30, 2011 of our Senior Notes - 2007 and Senior Notes - 2006 was approximately $587 million and $353 million, respectively. The estimated fair value at December 31, 2010 of our Senior Notes - 2007 and Senior Notes - 2006 was approximately $585 million and $357 million, respectively. The fair value of our Senior Notes was calculated using discounted cash flows applying current interest rates and current credit spreads based on our own credit risk. The estimated fair value of the remainder of our debt at June 30, 2011 and December 31, 2010 approximated the carrying value.

On July 12, 2011, we made a $100 million debt repayment related to our Senior notes - 2006 that is classified as current portion of long-term debt in the table above. The repayment was funded primarily through existing cash balances with the remainder coming from our existing credit facility.