Debt (Tables)

12 Months Ended

Dec. 31, 2015

Debt

Debt is comprised of the following at December 31, 2015 and 2014:

(in millions)	December 31, 2015			December 31, 2014
Senior Secured Credit Facility Term Loans	$	3,067.6		$	2,024.6
6 1⁄8% Senior Notes due 2022 (a)		300.0			300.0
3 3⁄4% Senior Notes due 2021 (a)		321.8			357.9
5% Senior Notes due 2023 (a)		300.0			—
7 1⁄2% Senior Subordinated Notes due 2017 (b)		654.6			650.6
17/8% Senior Subordinated Convertible Notes due 2018 (c)		459.3			445.8
1 1⁄2% Senior Subordinated Convertible Notes due 2019 (c)		234.0			226.0
1 1⁄8% Senior Subordinated Convertible Notes due 2034 (c)		501.8			484.1
Securitization Facility		489.3			479.3
Non-U.S. borrowings		40.3			83.2
Other		12.3			7.4
Total debt		6,381.0			5,058.9
Less: current portion		(593.5	)		(594.9	)
Total long-term debt	$	5,787.5		$	4,464.0

(a) Collectively, the “Senior Notes”

(b) The “Senior Subordinated Notes”

(c) Collectively, the “Senior Subordinated Convertible Notes”

Debt Maturities

The Company’s debt maturities for the five years following December 31, 2015 and thereafter are as follows:

Years Ending December 31,	Amount
	(in millions)
2016	$	593.5
2017		729.3
2018		1,167.1
2019		976.0
2020		995.4
Thereafter		2,184.3
Total principal payments		6,645.6
Net discount and other		(264.6	)
Total	$	6,381.0

Fair Market Value of Total Debt

At December 31, 2015 and 2014, the approximate fair market value of total debt is as follows:

(in millions)	2015		2014
Level 1	$	1,624	$	1,413
Level 2		4,765		3,741
Total	$	6,389	$	5,154

Senior Subordinated Convertible Notes

Debt

The effective annual interest rates on the Senior Subordinated Convertible Notes, which are based upon the initial fair valuations, are as follows:

2018 Convertible Notes	5.5	%
2019 Convertible Notes	5.6	%
2034 Convertible Notes	5.5	%