Debt

A summary of borrowings under lines of credit and long-term debt as of the dates indicated is as follows:



In thousands	April 30, 2014			October 31, 2013
EMEA credit facilities	$	47,334		$	21,594
2017 Notes	276,855			274,952
ABL Credit Facility	62,789			27,408
2018 Notes	278,719			278,612
2020 Notes	222,430			222,285
Capital lease obligations and other borrowings	8,695			6,449
Total debt	896,822			831,300
Less current portion of long-term debt	(49,873		)	(23,488		)
Long-term debt, net of current portion	$	846,949		$	807,812

As of April 30, 2014, the Company’s credit facilities allowed for total cash borrowings and letters of credit of $248 million. The total maximum borrowings and actual availability fluctuate with the amount of assets comprising the borrowing base under certain of the credit facilities. At April 30, 2014, the Company had a total of $110 million of direct borrowings and $46 million in letters of credit outstanding. As of April 30, 2014, the effective availability for borrowings remaining under the Company’s credit facilities was $67 million, $55 million of which could also be used for letters of credit in the United States and APAC. In addition to the $67 million of effective availability for borrowings, the Company also had $24 million in additional capacity for letters of credit in EMEA as of April 30, 2014. Many of the Company’s debt agreements contain customary default provisions and restrictive covenants. The Company is in compliance with such covenants.

During the quarter ended April 30, 2014, the Company paid approximately $15 million of other borrowings to the former minority interest owners of the Company's Brazil subsidiary, related to the Company's acquisition of the remaining minority interest in this subsidiary in November 2013.

The estimated fair value of the Company’s borrowings under lines of credit and long-term debt as of April 30, 2014 was $972 million, compared to a carrying value of $897 million. The fair value of the Company’s long-term debt is calculated based on the market price of the Company’s publicly traded 2020 Notes, the trading prices of the Company’s 2018 Notes and 2017 Notes (all Level 1 inputs) and the carrying values of the Company’s credit facilities due to the variable rate nature of those debt obligations.

Other Fair Value Disclosures

The carrying value of the Company’s trade accounts receivable and accounts payable approximates fair value due to their short-term nature. The fair value of fixed assets is determined using a discounted cash flow model which requires Level 3 inputs.