XML 57 R62.htm IDEA: XBRL DOCUMENT v2.4.0.6
Borrowings - Additional Information (Detail) (USD $)
1 Months Ended 1 Months Ended 12 Months Ended 1 Months Ended 12 Months Ended 1 Months Ended 12 Months Ended 12 Months Ended
May 31, 2012
May 31, 2011
Jun. 29, 2012
New Credit Facility
Jun. 29, 2012
New Credit Facility
Maximum
Jun. 29, 2012
New Credit Facility
Minimum
Oct. 09, 2009
Unsecured Six Point One Two Five Percent Senior Note due October Fifteen, Twenty Nineteen
May 31, 2012
Unsecured Six Point One Two Five Percent Senior Note due October Fifteen, Twenty Nineteen
May 31, 2011
Unsecured Six Point One Two Five Percent Senior Note due October Fifteen, Twenty Nineteen
May 27, 2011
Unsecured Six Point One Two Five Percent Senior Note due October Fifteen, Twenty Nineteen
Apr. 07, 2009
Accounts Receivable Securitization program
May 31, 2011
Accounts Receivable Securitization program
Oct. 09, 2009
Accounts Receivable Securitization program
Apr. 07, 2009
Accounts Receivable Securitization program
Before Amendment
May 27, 2011
General Purpose Enhancements
Jan. 05, 2011
Revolving Credit Facilities
May 31, 2012
Revolving Credit Facilities
May 31, 2011
Revolving Credit Facilities
Jan. 05, 2011
Revolving Credit Facilities
Swingline Loans
Jan. 05, 2011
Revolving Credit Facilities
Letter of Credit
May 31, 2012
Unsecured Six Point Seven Zero Percent Senior Notes due November One, Twenty Fifteen
May 31, 2011
Unsecured Six Point Seven Zero Percent Senior Notes due November One, Twenty Fifteen
Debt Disclosure [Line Items]                                          
Maturities of long-term debt in 2013 $ 2,600,000                                        
Maturities of long-term debt in 2014 201,300,000                                        
Maturities of long-term debt in 2015 50,200,000                                        
Maturities of long-term debt in 2016 151,300,000                                        
Maturities of long-term debt in 2017 600,000                                        
Maturities of long-term debt thereafter 709,500,000                                        
Unused lines of credit 497,200,000                                        
Liquidity available 813,100,000                                        
Consolidated indebtedness 48.50% 46.70%   60.00%             60.00%       60.00%            
Debt 1,115,536,000 1,108,853,000       300,000,000 460,688,000 [1] 461,859,000 [1] 150,000,000             48,797,000 [2] 40,943,000 [2]     150,000,000 [3] 150,000,000 [3]
Debt, interest rate           6.125% 6.125% [1] 6.125% [1]                       6.70% [3] 6.70% [3]
Debt, due date           Oct. 15, 2019 Oct. 15, 2019 [1] Oct. 15, 2019 [1]         May 07, 2009     Jan. 05, 2015 [2] Jan. 05, 2015 [2]     Nov. 01, 2015 [3] Nov. 01, 2015 [3]
Net proceeds from the offering of notes           163,700,000           120,000,000                  
Unsecured senior note offering price                 108.09%                        
Debt instrument yield to maturity                 4.934%                        
Net proceeds used for general corporate purposes                           162,100,000              
Credit facility borrowing capacity     600,000,000                       400,000,000 400,000,000   35,000,000 100,000,000    
Additional credit facility borrowing capacity                             100,000,000            
Credit facility expiration date     Jun. 29, 2017                       Jan. 05, 2015            
Credit facility maturity period     5 years                       4 years            
Minimum required consolidated interest coverage ratio for EBITDA to interest                     3.5       3.50            
Leverage ratio                               48.70%          
Interest coverage ratio         3.50                     7.04          
Credit facility borrowing potential maximum capacity     800,000,000                                    
Accounts receivable from securitization                   150,000,000     125,000,000                
Debt, maturity period                   3 years                      
Increase in liquidity                   $ 25,000,000                      
Pricing based on LIBOR margin rate                     1.00%                    
Debt instrument incremental interest rate due to default                     1.25%                    
Debt rating                     This margin will increase to 1.25% if we do not maintain our public debt rating of at least BB+/Ba1/BB+ from any two of Standard & Poor's, Moody's or Fitch.                    
Effective euro fixed-rate borrowing 5.31%                                     5.31%  
[1] Includes the combination of the October 2009 initial issuance of $300.0 million aggregate principal amount and the May 2011 issuance of an additional $150.0 million aggregate principal amount of these notes. The $300.0 million aggregate principal amount of the notes due 2019 from the initial issuance is adjusted for the amortization of the original issue discount, which approximated $0.2 million and $0.3 million at May 31, 2012 and 2011, respectively. The original issue discount effectively reduced the ultimate proceeds from the October 2009 financing. The effective interest rate on the notes issued in October 2009, including the amortization of the discount, is 6.139%. The additional $150.0 million aggregate principal amount of the notes due 2019 issued in May 2011 is adjusted for the unamortized premium received at issuance, which approximated $11.0 million and $12.1 million at May 31, 2012 and 2011, respectively. The premium effectively increased the proceeds from the financing. The effective interest rate on the $150.0 million notes issued in May 2011 is 4.934%.
[2] Interest was tied to euro LIBOR and AUD LIBOR at May 31, 2012, and averaged 1.99% and 5.65%, respectively, for euro denominated debt and AUD denominated debt. Interest was tied to euro LIBOR and prime rate at May 31, 2011, and averaged 2.80% and 3.90%, respectively, for euro denominated debt.
[3] We entered into a cross-currency swap, which fixed the interest and principal payments in euros, resulting in an effective fixed-rate borrowing of 5.31%.