XML 29 R29.htm IDEA: XBRL DOCUMENT v2.4.0.8
INDEBTEDNESS (Tables)
6 Months Ended
Jun. 28, 2014
INDEBTEDNESS  
Schedule of debt activity (both current and non-current)

 

 

 

 

December 31,

 

 

 

 

 

 

 

June 28,

 

 

 

2013

 

Borrowings

 

Repayments

 

Other (5)

 

2014

 

Domestic revolving loan facility

 

$

 

$

57.0

 

$

(20.0

)

$

 

$

37.0

 

Term loan (1)

 

475.0

 

100.0

 

 

 

575.0

 

6.875% senior notes, due in August 2017

 

600.0

 

 

 

 

600.0

 

7.625% senior notes (2)

 

500.0

 

 

(500.0

)

 

 

Trade receivables financing arrangement (3)

 

 

 

 

 

 

Other indebtedness (4)

 

100.6

 

10.6

 

(63.2

)

5.2

 

53.2

 

Total debt

 

1,675.6

 

$

167.6

 

$

(583.2

)

$

5.2

 

1,265.2

 

Less: short-term debt

 

26.9

 

 

 

 

 

 

 

74.5

 

Less: current maturities of long-term debt

 

558.7

 

 

 

 

 

 

 

9.4

 

Total long-term debt

 

$

1,090.0

 

 

 

 

 

 

 

$

1,181.3

 

 

 

(1)                 The term loan of $575.0 (which includes $100.0 drawn under the facility in the second quarter of 2014) is repayable in quarterly installments of 5.0% annually, beginning with our second fiscal quarter of 2015, with the remaining balance repayable in full on December 23, 2018.

 

(2)                 During the first quarter of 2014, we completed the redemption of all our 7.625% senior notes due in December 2014 for a total redemption price of $530.6. As a result of the redemption, we recorded a charge of $32.5 to “Loss on early extinguishment of debt” during the first quarter of 2014, which related to premiums paid to redeem the senior notes of $30.6, the write-off of unamortized deferred financing fees of $1.0, and other costs associated with the extinguishment of the senior notes of $0.9.

 

(3)                 Under this arrangement, we can borrow, on a continuous basis, up to $80.0, as available. At June 28, 2014, we had $80.0 of available borrowing capacity under this facility.

 

(4)                 Primarily included capital lease obligations of $15.7 and $73.0 and balances under purchase card programs of $30.8 and $25.4 at June 28, 2014 and December 31, 2013, respectively. During the first quarter of 2014, we purchased our corporate headquarters facility for cash consideration of $60.8, resulting in the extinguishment of the related capital lease obligation.

 

(5)                 “Other” primarily included debt assumed and foreign currency translation on any debt instruments denominated in currencies other than the U.S. dollar.