Our long-term debt consists of privately placed senior notes and medium-term notes: Series A, Series B, Series C and Series E, which we issued under an indenture dated April 1, 1993. All of our long-term debt is unsecured and is issued at fixed rates. Long-term debt as of October 31, 2012 and 2011 is as follows.

In thousands	2012		2011

Senior Notes:
2.92%, due June 6, 2016	$	40,000	$	40,000
8.51%, due September 30, 2017		35,000		35,000
4.24%, due June 6, 2021		160,000		160,000
3.47%, due July 16, 2027		100,000		-
3.57%, due July 16, 2027		200,000		-
Medium-Term Notes:
5.00%, due December 19, 2013		100,000		100,000
6.87%, due October 6, 2023		45,000		45,000
8.45%, due September 19, 2024		40,000		40,000
7.40%, due October 3, 2025		55,000		55,000
7.50%, due October 9, 2026		40,000		40,000
7.95%, due September 14, 2029		60,000		60,000
6.00%, due December 19, 2033		100,000		100,000
Total		975,000		675,000
Less current maturities		-		-
Total	$	975,000	$	675,000

Current maturities for the next five years ending October 31 and thereafter are as follows.

Payments of $.1 million in 2011 were paid to noteholders of the 6.25% insured quarterly notes based on a redemption right upon the death of the owner of the notes, within specified limitations. On June 1, 2011, we redeemed all of the 6.25% insured quarterly notes, which had an aggregate principal balance of $196.8 million. We retired the balance of $60 million of our 6.55% medium-term notes in September 2011, as they became due.

On June 6, 2011, we issued $40 million unsecured senior notes maturing in 2016 at an interest rate of 2.92% and $160 million unsecured senior notes maturing in 2021 at an interest rate of 4.24%. We used the proceeds from the sale of the senior notes to reduce our short-term debt used to finance the redemption of the 6.25% insured quarterly notes, as well as for other general corporate purposes and working capital needs.

On July 16, 2012, we issued $100 million of senior notes with an interest rate of 3.47%. On October 15, 2012, we issued $200 million of senior notes with an interest rate of 3.57%. Both issuances will mature on July 16, 2027. These proceeds were used for general corporate purposes, including the repayment of short-term debt incurred in part for the funding of capital expenditures.

We have an open combined debt and equity shelf registration filed with the SEC in July 2011 that is available for future use. Unless otherwise specified at the time such securities are offered for sale, the net proceeds from the sale of the securities will be used for general corporate purposes, including capital expenditures, additions to working capital and advances for our investments in our subsidiaries, and for repurchases of shares of our common stock. Pending such use, we may temporarily invest any net proceeds that are not applied to the purposes mentioned above in investment grade securities.

The amount of cash dividends that may be paid on common stock is restricted by provisions contained in certain note agreements under which long-term debt was issued, with those for the senior notes being the most restrictive. We cannot pay or declare any dividends or make any other distribution on any class of stock or make any investments in subsidiaries or permit any subsidiary to do any of the above (all of the foregoing being “restricted payments”), except out of net earnings available for restricted payments. As of October 31, 2012, our retained earnings were not restricted as the amount available for restricted payments was greater than our actual retained earnings as presented below.

We are subject to default provisions related to our long-term debt and short-term debt. Since there are cross default provisions in all of our debt agreements, failure to satisfy any of the default provisions may result in total outstanding issues of debt becoming due. As of October 31, 2012, we are in compliance with all default provisions.