XML 65 R46.htm IDEA: XBRL DOCUMENT v3.4.0.3
LONG-TERM DEBT (Tables)
 12 Months Ended
Dec. 31, 2015
Debt Disclosure [Abstract]  
Schedule of long-term debt
A summary of the Company’s consolidated long-term debt as of December 31, 2015 and 2014, respectively, is outlined in the table below:
 
 
Maturity Date
 
2015

2014
Revolving Credit Facility(1)
 
April 2018
 
$
250.0

 
$
165.0

Series A-1 Tranche A Term Loan Facility, net of unamortized debt discount
(2015 — $0.6; 2014 — $1.7)(1)
 
April 2016
 
140.4

 
139.3

Series A-2 Tranche A Term Loan Facility, net of unamortized debt discount
(2015 — $0.8; 2014 — $2.6)(1)
 
April 2016
 
137.3

 
135.5

Series A-3 Tranche A Term Loan Facility, net of unamortized debt discount
(2015 — $28.8; 2014 — $26.5)(1)
 
October 2018
 
1,881.5

 
1,633.8

Series A-4 Tranche A Term Loan Facility, net of unamortized debt discount
(2015 — $11.2)(1)
 
April 2020
 
951.3

 
—

Series D-2 Tranche B Term Loan Facility, net of unamortized debt discount (2015 — $21.1; 2014 — $20.2)(1)
 
February 2019
 
1,087.5

 
1,088.4

Series C-2 Tranche B Term Loan Facility, net of unamortized debt discount (2015 — $17.7; 2014 — $17.8)(1)
 
December 2019
 
835.1

 
835.0

Series E-1 Tranche B Term Loan Facility, net of unamortized debt discount
(2015 — $16.6; 2014 — $4.0)(1)
 
August 2020
 
2,531.2

 
2,543.8

Series F Tranche B Term Loan Facility, net of unamortized debt discount
(2015 — $63.1)(1)
 
April 2022
 
4,055.8

 
—

Senior Notes:
 
 
 
 
 
 
6.875%, net of unamortized debt discount (2014 — $3.0)
 
December 2018
 
—

 
496.6

7.00%, net of unamortized debt discount (2015 — $2.0; 2014 — $2.5)
 
October 2020
 
688.0

 
687.5

6.75%, net of unamortized debt discount (2015 — $3.9; 2014 — $4.6)
 
August 2021
 
646.1

 
645.4

7.25%, net of unamortized debt discount (2015 — $7.9; 2014 — $9.1)
 
July 2022
 
542.1

 
540.9

6.375%, net of unamortized discount (2015 — $23.5; 2014 — $28.4)
 
October 2020
 
2,226.5

 
2,221.6

6.75%, net of unamortized discount (2015 — $11.2; 2014 — $15.5)
 
August 2018
 
1,588.8

 
1,584.5

7.50%, net of unamortized discount (2015 — $15.3; 2014 — $18.1)
 
July 2021
 
1,609.7

 
1,606.9

5.625%, net of unamortized discount (2015 — $6.8; 2014 — $8.2)
 
December 2021
 
893.2

 
891.8

5.50%, net of unamortized discount (2015 — $9.4)
 
March 2023
 
990.6

 
—

5.375%, net of unamortized discount (2015 — $20.1)
 
March 2020
 
1,979.9

 
—

5.875%, net of unamortized discount (2015 — $35.0)
 
May 2023
 
3,215.0

 
—

4.50%, net of unamortized discount (2015 — $17.6)(2)
 
May 2023
 
1,611.8

 
—

6.125%, net of unamortized discount (2015 — $35.7)
 
April 2025
 
3,214.3

 
—

Other(3)
 
Various
 
12.3

 
12.9



 

31,088.4


15,228.9

Less current portion

 

(823.0
)
 
(0.9
)
Total long-term debt

 

$
30,265.4


$
15,228.0

____________________________________
(1)
Together, the “Senior Secured Credit Facilities” under the Company’s Third Amended and Restated Credit and Guaranty Agreement, as amended (the “Credit Agreement”).
(2)
Represents the U.S. dollar equivalent of Euro-denominated debt (discussed below).
(3)
Relates primarily to the debentures assumed in the B&L Acquisition, as described in Note
Schedule of effective interest rates
The effective rates of interest for the year ended December 31, 2015 and the applicable margins available as of December 31, 2015 on the Company's borrowings under the Senior Secured Credit Facilities were as follows:
 
 
 
Margins(2)
 
Effective Interest Rate
 
Base Rate Borrowings
 
LIBO Rate Borrowings
Revolving Credit Facility
2.51
%
 
1.25
%
 
2.25
%
Series A-1 Tranche A Term Loan Facility
2.34
%
 
1.25
%
 
2.25
%
Series A-2 Tranche A Term Loan Facility
2.34
%
 
1.25
%
 
2.25
%
Series A-3 Tranche A Term Loan Facility
2.34
%
 
1.25
%
 
2.25
%
Series A-4 Tranche A Term Loan Facility
2.46
%
 
1.25
%
 
2.25
%
Series D-2 Tranche B Term Loan Facility(1)
3.50
%
 
1.75
%
 
2.75
%
Series C-2 Tranche B Term Loan Facility(1)
3.59
%
 
2.00
%
 
3.00
%
Series E-1 Tranche B Term Loan Facility(1)
3.59
%
 
2.00
%
 
3.00
%
Series F Tranche B Term Loan Facility(1)
4.00
%
 
2.25
%
 
3.25
%
____________________________________
(1)
Subject to a 1.75% base rate floor and a 0.75% LIBO rate floor.
(2)
The applicable margins included in the table do not reflect the changes from the amendment to the Credit Agreement that became effective on April 11, 2016. See Note 26 for additional information respecting the amendment and waiver to the Credit Agreement.
Schedule of aggregate maturities of long-term debt
Aggregate maturities and mandatory amortization payments of the Company's long-term debt for each of the five succeeding years ending December 31 and thereafter are as follows(1):
2016
$
823.0

2017
630.9

2018
3,173.0

2019
2,202.9

2020
7,829.3

Thereafter
16,777.5

Total gross maturities
31,436.6

Unamortized discounts
(348.2
)
Total long-term debt
$
31,088.4


____________________________________
(1)
This schedule does not reflect the effect of the voluntary prepayment of $125 million on April 1, 2016