Note 10 — Debt

The carrying value of our outstanding debt consists of the following:


	July 2,			January 1,
	2011			2011
Senior unsecured notes, 5.25% due 2017	$	300,000		$	300,000
Senior unsecured term loan		234,914			243,627
Lines of credit and other debt		107,707			92,774

		642,621			636,401
Short-term debt and current maturities of long-term debt		(120,207	)		(105,274	)


	$	522,414		$	531,127

We have a revolving trade accounts receivable-backed financing program in North America, which provides for up to $500,000 in borrowing capacity, and may, subject to the financial institutions’ approval and availability of eligible receivables, be increased to $700,000 in accordance with the terms of the program. The interest rate of this program is dependent on designated commercial paper rates (or, in certain circumstances, an alternate rate) plus a predetermined margin. In April 2011, we extended the maturity of this North American financing program for an additional year to April 2014. We had no borrowings at July 2, 2011 and January 1, 2011 under this North American financing program.

In May 2011, we terminated our multi-currency revolving trade accounts receivable-backed financing program in Asia-Pacific, which provided a borrowing capacity of up to 210,000 Australian dollars. We replaced this facility in the same month with a new multi-currency revolving trade accounts receivable-backed financing program from the same financial institution, which provides a borrowing capacity of up to 160,000 Australian dollars, or approximately $172,000 at July 2, 2011. The new financing program matures in May 2014. The interest rate for the new financing program is dependent upon the currency in which the drawing is made and is related to the local short-term bank indicator rate for such currency plus a predetermined margin. We had no borrowings at July 2, 2011 and January 1, 2011 under the Asia-Pacific financing program.