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Long-Term Debt (Tables)
9 Months Ended
Sep. 30, 2015
Long-term Debt, Unclassified [Abstract]  
Schedule of Long-term Debt Instruments [Table Text Block]
The approximate fair values and related carrying values of the Company's long-term debt, including current maturities and excluding unamortized discount and/or premium and unamortized deferred financing costs, were as follows:
(in millions)
 
September 30, 2015
 
December 31,
2014
Fair value
 
$
3,316.4

 
$
3,208.7

Carrying value
 
3,295.8

 
3,192.4

Carrying Value of Long-Term Debt
Long-term debt as of September 30, 2015 was as follows:
(dollars in millions)
 
Interest
Rate
 
Principal
 
Unamortized Discount and Deferred Financing Costs
 
Total
Senior secured asset-based revolving credit facility (1)

%
 
$


$


$

Kelway revolving credit facility
 
%
 

 

 

Senior secured term loan facility

3.25
%
 
1,502.0


(7.1
)

1,494.9

Kelway term loan
 
2.0
%
 
93.8

 
(0.7
)
 
93.1

Senior notes due 2022

6.0
%
 
600.0


(6.9
)

593.1

Senior notes due 2023

5.0
%
 
525.0


(6.4
)

518.6

Senior notes due 2024

5.5
%
 
575.0


(6.9
)

568.1

Total long-term debt
 
 
 
3,295.8

 
(28.0
)
 
3,267.8

Less current maturities of long-term debt
 
 
 
(27.5
)
 

 
(27.5
)
Long-term debt, excluding current maturities
 
 
 
$
3,268.3

 
$
(28.0
)
 
$
3,240.3

Long-term debt as of December 31, 2014 was as follows:    
(dollars in millions)
 
Interest
Rate
 
Principal
 
Unamortized Discount, Premium, and Deferred Financing Costs
 
Total
Senior secured asset-based revolving credit facility (1)
 
%
 
$

 
$

 
$

Senior secured term loan facility
 
3.25
%
 
1,513.5

 
(8.3
)
 
1,505.2

Senior notes due 2019 (2)
 
8.5
%
 
503.9

 
(3.1
)
 
500.8

Senior notes due 2022
 
6.0
%
 
600.0

 
(7.6
)
 
592.4

Senior notes due 2024
 
5.5
%
 
575.0

 
(7.4
)
 
567.6

Total long-term debt
 
 
 
3,192.4

 
(26.4
)
 
3,166.0

Less current maturities of long-term debt
 
 
 
(15.4
)
 

 
(15.4
)
Long-term debt, excluding current maturities
 
 
 
3,177.0

 
$
(26.4
)
 
$
3,150.6


(1)
Refer to Note 2, Recent Accounting Pronouncements for a description of the change in the presentation of deferred financing costs during the third quarter of 2015. At September 30, 2015, the Company classified deferred financing costs related to the Senior Secured Asset-Based Revolving Credit Facility as an asset, included within “Other Assets” on the Consolidated Balance Sheet. The Company retroactively adjusted the deferred financing costs and long term liability presented as of December 31, 2014 to align it to the current period presentation. There are no deferred financing costs related to the Kelway revolving credit facility.
(2)
At December 31, 2014, the Company reported $1.3 million of unamortized premium on the Senior Notes due 2019 net of deferred financing costs of $4.4 million.