Long-Term Debt

Long-term debt consists of the following (in millions):



	July 31,
	2017			2016
5.48% Unsecured senior notes, interest payable semi-annually, principal payment of $50.0 million due June 1, 2017	$	—		$	50.0
5.48% Unsecured senior notes, interest payable semi-annually, principal payment of $25.0 million due September 28, 2017	25.0			25.0
5.48% Unsecured senior notes, interest payable semi-annually, principal payment of $25.0 million due November 30, 2017	25.0			25.0
3.72% Unsecured senior notes, interest payable semi-annually, principal payment of $125.0 million due March 27, 2024	125.0			125.0
2.93% Unsecured senior notes, interest payable semi-annually, principal payment of $25.0 million due April 16, 2025	25.0			25.0
3.18% Unsecured senior notes, interest payable semi-annually, principal payment of $125.0 million due June 17, 2030	125.0			125.0
Variable rate committed, unsecured $500.0 million revolving credit facility due July 21, 2022 and an interest rate of 2.24% as of July 31, 2017	190.0			—
Variable rate committed, unsecured $50.0 million term loan due July 21, 2020 and an interest rate of 2.24% as of July 31, 2017	50.0			—
Variable rate guaranteed senior note, interest payable quarterly, principal payment of ¥1.65 billion due May 19, 2019 and an interest rate of 0.40% as of July 31, 2017	15.0			16.0
Variable rate guaranteed senior note, interest payable quarterly, principal payment of ¥1.00 billion due July 15, 2021 and an interest rate of 0.25% as of July 31, 2017	9.0			9.7
Capitalized lease obligations and other, with various maturity dates and interest rates	1.1			1.9
Terminated interest rate swap contracts	—			0.4
Debt issuance costs	(2.2		)	(1.6		)
Subtotal	587.9			401.4
Less: current maturities	50.6			51.2
Total long-term debt	$	537.3		$	350.2

The estimated future maturities of the Company's long-term debt as of July 31, 2017, are as follows (in millions):



Year Ended July 31,	Amount
2018	$	50.6
2019	14.9
2020	49.7
2021	8.6
2022	189.5
Thereafter	274.6
Total estimated future maturities	$	587.9

The Company has a multi-currency revolving credit facility with a group of lenders. On July 21, 2017, the Company entered into an amended and restated credit agreement that increases the borrowing availability to $500.0 million and extends the maturity date of the credit facility to July 21, 2022. The credit facility also has an accordion feature that allows the Company to request an increase to the commitment under the facility by up to $250.0 million. At July 31, 2017 and 2016, $299.5 million and $262.7 million, respectively, was available for further borrowing under this facility. The amount available for further borrowing reflects the issued standby letters of credit, as discussed in Note 16, as issued standby letters of credit reduce the amounts available for borrowing under this facility. The credit facility also includes a $50.0 million term loan due July 21, 2020. Borrowings under the Company's amended revolving credit facility are automatically rolled over until the credit facility maturity date unless the agreement is terminated early or the Company is found to be in default. Therefore, beginning on July 21, 2017 (at which time $270.0 million was outstanding) and subsequent to that date, all borrowings under this credit facility are classified as long-term debt on the Company’s Consolidated Balance Sheets.

On July 22, 2016, a Japanese subsidiary of the Company issued a ¥1.0 billion note that was guaranteed by the Company. The debt was issued at face value of ¥1.0 billion (approximately $9.0 million at July 31, 2017), is due July 15, 2021, and bears interest payable quarterly at a variable interest rate. The interest rate was 0.25% as of July 31, 2017 and 2016.

Certain debt agreements, including the $500.0 million revolving credit facility, contain financial covenants related to interest coverage and leverage ratios. As of July 31, 2017, the Company was in compliance with all such covenants.