NOTE E Long-Term Debt

Long-term debt consists of the following:


	2012		2011
	(thousands of dollars)
4.85% Unsecured senior notes, interest payable semi-annually.
This note was repaid on December 17, 2011.		—		30,000
6.59% Unsecured senior notes, interest payable semi-annually,
principal payment of $80.0 million due November 14, 2013		80,000		80,000
5.48% Unsecured senior notes, interest payable semi-annually,
principal payment of $50.0 million due June 1, 2017		50,000		50,000
5.48% Unsecured senior notes, interest payable semi-annually,
principal payment of $25.0 million due September 28, 2017		25,000		25,000
5.48% Unsecured senior notes, interest payable semi-annually,
principal payment of $25.0 million due November 30, 2017		25,000		25,000
1.418% Guaranteed senior notes, interest payable semi-annually.
This note was repaid on January 31, 2012.		—		15,595
2.019% Guaranteed senior note, interest payable semi-annually,
principal payment of ¥1.65 billion due May 18, 2014		21,117		21,442
Capitalized lease obligations and other, with various maturity dates and interest rates		774		796
Terminated interest rate swap contracts		3,938		5,786
Total		205,829		253,619
Less current maturities		2,346		47,871
Total long-term debt	$	203,483	$	205,748

Annual maturities of long-term debt are $0.5 million in 2013, $101.4 million in 2014, $50.0 million in 2017, and $50.0 million thereafter. There are no maturities in 2015 or 2016. As of July 31, 2012, the estimated fair value of long-term debt with fixed interest rates was $223.5 million compared to its carrying value of $201.1 million. On December 17, 2011, the Company paid off its 4.85 percent Unsecured senior note for $30.0 million. On January 31, 2012, the Company paid off its 1.418 percent Guaranteed senior note for ¥1.2 billion, or $15.4 million.

Certain note agreements contain debt covenants related to working capital levels and limitations on indebtedness. As of July 31, 2012, the Company was in compliance with all such covenants. The Company expects to remain in compliance with these covenants.