Borrowings and Credit Arrangements (Tables)

9 Months Ended

Sep. 30, 2013

Borrowings and Credit Arrangements (Tables) [Abstract]

Schedule of debt maturities

The debt maturity schedule for the significant components of our debt obligations as of September 30, 2013 is as follows:

(in millions)	2013	2014		2015		2016		2017		Thereafter		Total
Senior notes	—	$	—	$	400	$	600	$	250	$	2,550	$	3,800
Term loan	—	$	—	$	—	$	80	$	80	$	240	$	400
	—	$	—	$	400	$	680	$	330	$	2,790	$	4,200

Note: The table above does not include unamortized discounts associated with our senior notes, or amounts related to interest rate contracts used to hedge the fair value of certain of our senior notes.

Summary of revolving credit facility agreement compliance with debt covenants

Our revolving credit facility agreement in place as of September 30, 2013 requires that we maintain certain financial covenants, as follows:

	Covenant Requirement	Actual as of September 30, 2013
Maximum leverage ratio (1)	3.5 times	2.4 times
Minimum interest coverage ratio (2)	3.0 times	5.4 times

(1) Ratio of total debt to consolidated EBITDA, as defined by the credit agreement, for the preceding four consecutive fiscal quarters.

(2) Ratio of consolidated EBITDA, as defined by the credit agreement, to interest expense for the preceding four consecutive fiscal quarters.