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Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2016
Debt Disclosure [Abstract]  
Long-Term Debt

December 31

(add 000)

 

2016

 

 

2015

 

6.6% Senior Notes, due 2018

 

$

299,483

 

 

$

299,113

 

7% Debentures, due 2025

 

 

124,090

 

 

 

124,002

 

6.25% Senior Notes, due 2037

 

 

227,975

 

 

 

227,917

 

4.25% Senior Notes, due 2024

 

 

395,252

 

 

 

394,690

 

Floating Rate Notes, due 2017, interest rate of 2.10% and 1.71% at December 31, 2016 and 2015, respectively

 

 

299,033

 

 

 

298,868

 

Term Loan Facility, interest rate of 1.86% at December 31, 2015

 

 

-

 

 

 

222,521

 

Revolving Facility, due 2021, interest rate of 1.86% at December 31, 2016

 

 

160,000

 

 

 

-

 

Trade Receivable Facility, interest rate of 1.34% at December 31, 2016

 

 

180,000

 

 

-

 

Other notes

 

 

356

 

 

 

1,663

 

Total

 

 

1,686,189

 

 

 

1,568,774

 

Less current maturities

 

 

(180,036

)

 

 

(18,713

)

Long-term debt

 

$

1,506,153

 

 

$

1,550,061

 

 

Schedule of Principal Amount, Effective Interest Rate and Maturity Date for Corporation's Senior Notes

 

 

 

Principal

Amount

(add 000)

 

 

Effective

Interest

Rate

 

 

Maturity Date

6.6% Senior Notes

 

$

300,000

 

 

 

6.81%

 

 

April 15, 2018

7% Debentures

 

$

125,000

 

 

 

7.12%

 

 

December 1, 2025

6.25% Senior Notes

 

$

230,000

 

 

 

6.45%

 

 

May 1, 2037

4.25% Senior Notes

 

$

400,000

 

 

 

4.25%

 

 

July 2, 2024

Floating Rate Notes

 

$

300,000

 

 

Three-month LIBOR+1.10%

 

 

June 30, 2017

 

Schedule of Revolving Facility

 

Lender

(add 000)

 

Revolving Facility

Commitment

 

JPMorgan Chase Bank, N.A.

 

$

92,800

 

BB&T

 

 

92,800

 

Deutsche Bank AG New York Branch

 

 

92,800

 

SunTrust Bank

 

 

92,800

 

Wells Fargo Bank, N.A.

 

 

92,800

 

PNC Bank, National Association

 

 

62,000

 

Regions Bank

 

 

62,000

 

The Northern Trust Company

 

 

62,000

 

The Bank of Tokyo-Mitsubishi UFJ, Ltd.

 

 

30,000

 

Comerica Bank

 

 

20,000

 

Total

 

$

700,000

 

 

Schedule of Corporation's Long-Term Debt Maturities

 

 

 

 

 

 

The Corporation’s long-term debt maturities for the five years following December 31, 2016, and thereafter are:

 

 

(add 000)

 

 

 

2017

$

180,035

 

2018

 

299,534

 

2019

 

55

 

2020

 

60

 

2021

 

459,098

 

Thereafter

 

747,407

 

Total

$

1,686,189