Note 14:

Indebtedness

Long-term debt consisted of the following:

	Fiscal year of maturity	December 31, 2017			March 31, 2017
Term loans	2022	$	270.4		$	268.9
6.8% Senior Notes	2021		105.0			117.0
5.8% Senior Notes	2027		50.0			50.0
Other (a)	2032		12.7			8.3
			438.1			444.2
Less: current portion			(37.9	)		(31.8	)
Less: unamortized debt issuance costs			(5.7	)		(6.7	)
Total long-term debt		$	394.5		$	405.7

(a)

Other long-term debt includes borrowings by foreign subsidiaries, capital lease obligations and other financing-type obligations.

At December 31, 2017 and March 31, 2017, the Company had $22.7 million and $40.4 million, respectively, of short-term borrowings under its $175.0 million multi-currency revolving credit facility, which expires in November 2021. At December 31, 2017, domestic letters of credit totaled $3.9 million, resulting in available capacity under the Company's revolving credit facility of $148.4 million. The Company also maintains credit agreements for its foreign subsidiaries, with outstanding short-term borrowings at December 31, 2017 and March 31, 2017 of $30.8 million and $33.0 million, respectively. At December 31, 2017, the Company's foreign unused lines of credit totaled $20.4 million. In aggregate, the Company had total available lines of credit of $168.8 million at December 31, 2017.

Provisions in the Company's amended and restated credit agreement, Senior Note agreements, and various foreign credit agreements require the Company to maintain compliance with various covenants and include certain cross-default clauses. Under its primary debt agreements in the U.S., the Company has provided liens on substantially all domestic assets. In addition, the term loans require prepayments, as defined in the credit agreement, in the event the Company's annual excess cash flow exceeds defined levels or in the event of certain asset sales. The Company is also subject to leverage ratio covenants, the most restrictive of which requires the Company to limit its consolidated indebtedness, less a portion of its cash balance, both as defined by the credit agreements, to no more than three and one-quarter times consolidated net earnings before interest, taxes, depreciation, amortization, and certain other adjustments ("Adjusted EBITDA"). The Company is also subject to an interest expense coverage ratio covenant, which requires the Company to maintain Adjusted EBITDA of at least three times consolidated interest expense. The Company was in compliance with its debt covenants as of December 31, 2017.

The Company estimates the fair value of long-term debt using discounted future cash flows at rates offered to the Company for similar debt instruments of comparable maturities. At December 31, 2017 and March 31, 2017, the carrying value of the Company's long-term debt approximated fair value, with the exception of the Senior Notes, which had an aggregate fair value of approximately $159.0 million and $170.0 million, respectively. The fair value of the Company's long-term debt is categorized as Level 2 within the fair value hierarchy. Refer to Note 3 for the definition of a Level 2 fair value measurement.