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Debt (Tables)
3 Months Ended
Mar. 31, 2014
Debt Disclosure [Abstract]  
Schedule of Debt
Debt consisted of the following:
 
 
March 31,
2014
 
December 31, 2013
Term loans
$
230,000

 
$
230,000

5.0%
notes due 2015
274,879

 
274,879

4.75%
notes due 2016
370,914

 
370,914

5.75%
notes due 2017
385,109

 
500,000

5.60%
notes due 2018
250,000

 
250,000

4.75%
notes due 2018
350,000

 
350,000

6.25%
notes due 2019
300,000

 
300,000

5.25%
notes due 2022
110,000

 
110,000

4.625%
notes due 2024
500,000

 

5.25%
notes due 2037
115,041

 
500,000

6.70%
notes due 2043
425,000

 
425,000

Other
30,626

 
35,502

Total long-term debt
3,341,569

 
3,346,295

Current portion
274,879

 

Long-term debt
$
3,066,690

 
$
3,346,295


During the first quarter, we completed a cash tender offer (the Tender Offer) for a portion of the 5.75% Notes due 2017 and the 5.25% Notes due 2037 (the Subject Notes). Holders who validly tendered their notes received the principal amount of the notes tendered, all accrued and unpaid interest and a premium amount. An aggregate $500 million of the Subject Notes were tendered. We incurred expenses of $62 million, consisting of the call premium, the write-off of unamortized costs and bank transaction fees. These expenses are included in other expense in the unaudited Condensed Consolidated Statements of Income.

During the first quarter, we issued $500 million of 4.625% fixed rate 10-year notes. Interest is payable on March 15 and September 15 of each year, commencing September 15, 2014. The notes mature in March 2024, but may be redeemed, at any time, in whole or in part, at our option. If the notes are redeemed prior to December 15, 2023, the redemption price will be equal to the sum of 100% of the principal amount, accrued and unpaid interest and a make-whole payment. Net proceeds from the issuance of the notes were $493 million. The net proceeds were used to fund the Tender Offer.

On April 22, 2014, we repaid $100 million of the outstanding Term Loans.

Other consists of the unamortized net proceeds received from the unwinding of interest rate swaps, debt discounts and premiums and the mark-to-market adjustment of interest rate swaps, if applicable.