Quarterly report pursuant to Section 13 or 15(d)

Debt and Credit Facilities (Tables)

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Debt and Credit Facilities (Tables)
 6 Months Ended
Jun. 30, 2011
Debt and Credit Facilities  
Schedule of Long-term Debt

 

($ in Millions)

  

June 30, 2011

  

Debt Instrument

   Type   Average
Annual
Interest Rate		     Final
Maturity		   Total Face
Amount		     Total
Long-term
Debt		  

$1.25 Billion Term Loan

   Variable     2.052 %        2016     $ 1,250.0        $ 1,187.5  (6) 

$700 Million 4.875% 2021 Senior Notes

   Fixed     4.875 %        2021     700.0          699.3  (5) 

$1.3 Billion Senior Notes:

          

$500 Million 4.80% 2020 Senior Notes

   Fixed     4.80 %        2020     500.0          499.0  (4) 

$800 Million 6.25% 2040 Senior Notes

   Fixed     6.25 %        2040     800.0          790.1  (3) 

$400 Million 5.90% 2020 Senior Notes

   Fixed     5.90 %        2020     400.0          397.9  (2) 

$325 Million Private Placement Senior Notes:

          

Series 2008A - Tranche A

   Fixed     6.31 %        2013     270.0          270.0    

Series 2008A - Tranche B

   Fixed     6.59 %        2015     55.0          55.0    

$600 Million Credit Facility:

          

Revolving Loan

   Variable     -   %        2012     600.0          0.0  (1) 
                     

Total

           $     4,575.0          $     3,898.8     
                     

 

December 31, 2010

  

Debt Instrument

   Type   Average
Annual
Interest Rate		     Final
Maturity		   Total Face
Amount		     Total
Long-term
Debt		  

$1 Billion Senior Notes:

          

$500 Million 4.80% 2020 Senior Notes

   Fixed     4.80  %      2020     $ 500.0          $ 499.0  (4) 

$500 Million 6.25% 2040 Senior Notes

   Fixed     6.25  %      2040     500.0          491.3  (3) 

$400 Million 5.90% 2020 Senior Notes

   Fixed     5.90  %      2020     400.0          397.8  (2) 

$325 Million Private Placement Senior Notes:

          

Series 2008A - Tranche A

   Fixed     6.31  %      2013     270.0          270.0    

Series 2008A - Tranche B

   Fixed     6.59  %      2015     55.0          55.0    

$600 Million Credit Facility:

          

Revolving Loan

   Variable     -    %      2012     600.0          0.0  (1) 
                     

Total

           $     2,325.0          $     1,713.1     
                     

(1) As of June 30, 2011 and December 31, 2010, no revolving loans were drawn under the credit facility; however, the principal amount of letter of credit obligations totaled $66.6 million and $64.7 million, respectively, reducing available borrowing capacity to $533.4 million and $535.3 million, respectively.

(2) As of June 30, 2011 and December 31, 2010, the $400 million 5.90 percent senior notes were recorded at a par value of $400 million less unamortized discounts of $2.1 million and $2.2 million, respectively, based on an imputed interest rate of 5.98 percent.

(3) As of June 30, 2011 and December 31, 2010, the $800 million and $500 million 6.25 percent senior notes were recorded at par values of $800 million and $500 million, respectively, less unamortized discounts of $9.9 million and $8.7 million, respectively, based on an imputed interest rate of 6.38 percent.

(4) As of June 30, 2011 and December 31, 2010, the $500 million 4.80 percent senior notes were recorded at a par value of $500 million less unamortized discounts of $1.0 million and $1.0 million, respectively, based on an imputed interest rate of 4.83 percent.

(5) As of June 30, 2011, the $700 million 4.875 percent senior notes were recorded at a par value of $700 million less unamortized discounts of $0.7 million, based on an imputed interest rate of 4.89 percent.

(6) As of June 30, 2011, $62.5 of the term loan was classified as Current portion of term loan based upon the principal payment terms of the arrangement requiring principal payments on each three-month anniversary following the funding of the term loan.