Quarterly report pursuant to Section 13 or 15(d)

DEBT AND CREDIT FACILITIES (Tables)

v2.4.0.6
DEBT AND CREDIT FACILITIES (Tables)
9 Months Ended
Sep. 30, 2012
Debt Disclosure [Abstract]  
Schedule Of Long-Term Debt
The following represents a summary of our long-term debt as of September 30, 2012 and December 31, 2011:
($ in Millions)
 
September 30, 2012
 
Debt Instrument
Type
 
Annual Effective Interest Rate
 
Final Maturity
 
Total Face Amount
 
Total Debt
 
$1.25 Billion Term Loan
Variable
 
1.60%
 
2016
 
$
922.1

(1)
$
922.1

(1)
$700 Million 4.875% 2021 Senior Notes
Fixed
 
4.88%
 
2021
 
700.0

 
699.4

(2)
$1.3 Billion Senior Notes:
 
 
 
 
 
 
 
 
 
 
$500 Million 4.80% 2020 Senior Notes
Fixed
 
4.80%
 
2020
 
500.0

 
499.1

(3)
$800 Million 6.25% 2040 Senior Notes
Fixed
 
6.25%
 
2040
 
800.0

 
790.2

(4)
$400 Million 5.90% 2020 Senior Notes
Fixed
 
5.90%
 
2020
 
400.0

 
398.2

(5)
$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

 
$1.75 Billion Credit Facility:
 
 
 
 
 
 
 
 
 
 
Revolving Loan
Variable
 
1.47%
 
2016
 
1,750.0

 
250.0

(6)
Total debt
 
 
 
 
 
 
$
5,397.1

 
$
3,884.0

 
Less current portion
 
 
 
 
 
 
 
 
369.7

 
Long-term debt
 
 
 
 
 
 
 
 
$
3,514.3

 
($ in Millions)
 
December 31, 2011
 
Debt Instrument
Type
 
Annual Effective Interest Rate
 
Final Maturity
 
Total Face Amount
 
Total Debt
 
$1.25 Billion Term Loan
Variable
 
1.40%
 
2016
 
$
972.0

(1)
$
972.0

(1)
$700 Million 4.875% 2021 Senior Notes
Fixed
 
4.88%
 
2021
 
700.0

 
699.3

(2)
$1.3 Billion Senior Notes:
 
 
 
 
 
 
 
 
 
 
$500 Million 4.80% 2020 Senior Notes
Fixed
 
4.80%
 
2020
 
500.0

 
499.1

(3)
$800 Million 6.25% 2040 Senior Notes
Fixed
 
6.25%
 
2040
 
800.0

 
790.1

(4)
$400 Million 5.90% 2020 Senior Notes
Fixed
 
5.90%
 
2020
 
400.0

 
398.0

(5)
$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

 
$1.75 Billion Credit Facility:
 
 
 
 
 
 
 
 
 
 
Revolving Loan
Variable
 
—%
 
2016
 
1,750.0

 

(6)
Total debt
 
 
 
 
 
 
$
5,447.0

 
$
3,683.5

 
Less current portion
 
 
 
 
 
 
 
 
74.8

 
Long-term debt
 
 
 
 
 
 
 
 
$
3,608.7

 
(1)
As of September 30, 2012 and December 31, 2011, $327.9 million and $278.0 million, respectively, had been paid down on the original $1.25 billion term loan and, of the remaining term loan, $99.7 million and $74.8 million, respectively, was classified as Current portion of debt. The current classification is based upon the principal payment terms of the arrangement requiring principal payments on each three-month anniversary following the funding of the term loan.
(2)
As of September 30, 2012 and December 31, 2011, the $700 million 4.88 percent senior notes were recorded at a par value of $700 million less unamortized discounts of $0.6 million and $0.7 million, respectively, based on an imputed interest rate of 4.89 percent.
(3)
As of September 30, 2012 and December 31, 2011, the $500 million 4.80 percent senior notes were recorded at a par value of $500 million less unamortized discounts of $0.9 million and $0.9 million, respectively, based on an imputed interest rate of 4.83 percent.
(4)
As of September 30, 2012 and December 31, 2011, the $800 million 6.25 percent senior notes were recorded at par value of $800 million less unamortized discounts of $9.8 million and $9.9 million, respectively, based on an imputed interest rate of 6.38 percent.
(5)
As of September 30, 2012 and December 31, 2011, the $400 million 5.90 percent senior notes were recorded at a par value of $400 million less unamortized discounts of $1.8 million and $2.0 million, respectively, based on an imputed interest rate of 5.98 percent.
(6)
As of September 30, 2012 and December 31, 2011, $250.0 million and no revolving loans were drawn under the credit facility, respectively, and the principal amount of letter of credit obligations totaled $23.1 million and $23.5 million for each period, respectively, thereby reducing available borrowing capacity to $1.48 billion and $1.73 billion for each period, respectively.