Debt Level 1 (Notes)

3 Months Ended

Mar. 31, 2013

Debt

Debt as of March 31, 2013 and December 31, 2012 was as follows:



	March 31, 2013			December 31, 2012
	(In thousands)
7.875% Debentures due February 2013	$	—		$	4,757
6.75% Senior Notes due April 2015	136,465			136,465
6.75% Senior Notes due April 2016	197,377			197,377
7.0% Senior Notes due June 2017	295,000			295,000
7.625% Senior Notes due October 2018	250,000			250,000
7.0% Senior Notes due May 2019	250,000			250,000
4.5% Senior Notes due November 2020	200,000			200,000
8.0% Senior Notes due November 2021	150,000			150,000
7.5% Senior Notes due April 2027	200,000			200,000
Bank credit facility due March 2016	86,600			86,600
Obligations under capital leases	183,883			176,445
Mortgage notes and other debt, maturities through 2047	5,507			5,698
Unamortized pricing discounts	(4,135		)	(4,292		)
Total debt	1,950,697			1,948,050
Less current maturities	(37,315		)	(31,429		)
Total long-term debt	$	1,913,382		$	1,916,621

Current maturities of debt at March 31, 2013 were primarily comprised of our capital leases. Our consolidated debt had a weighted average interest rate of 6.27% and 6.28% at March 31, 2013 and December 31, 2012, respectively. Approximately 87% of our total debt had a fixed interest rate at both March 31, 2013 and December 31, 2012.

Bank Credit Facility

The Company has a $500 million bank credit facility due March 2016 with a syndicate of banks, including a sublimit of $175 million for letters of credit.

As of March 31, 2013, we have $86.6 million outstanding under our Bank credit facility and $31.7 million of letters of credit. The bank credit facility provides us with flexibility for working capital, if needed, and is guaranteed by a majority of our domestic subsidiaries. The subsidiary guaranty is a guaranty of payment of the outstanding amount of the total lending commitment, including letters of credit. The bank credit facility contains certain financial covenants, including a minimum interest coverage ratio, a maximum leverage ratio, and certain dividend and share repurchase restrictions. We pay a quarterly fee on the unused commitment, which was 0.35% for the first quarter. As of March 31, 2013, we have $381.7 million in borrowing capacity under the bank credit facility.

Debt Extinguishments and Reductions

During the three months ended March 31, 2013, we paid an aggregate of $11.4 million, to repay our remaining 7.875% Debentures due February 2013 and our capital lease obligations.

During the three months ended March 31, 2012, we paid $6.6 million of our long-term debt and capital lease obligations.

Capital Leases

During the three months ended March 31, 2013 and 2012, we acquired $14.9 million and $38.3 million, respectively, of primarily transportation equipment capital leases.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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