9. Borrowings

Borrowings consist of the following:



	June 30, 2013		December 31, 2012
Short-term
Current portion of long-term debt	$	3,581	$	3,266
Commercial paper	662,200		607,500
	$	665,781	$	610,766



	June 30, 2013			December 31, 2012
Long-term
4.875% 10-year notes due October 15, 2015	$	299,540		$	299,441
5.45% 10-year notes due March 15, 2018	348,433			348,268
4.30% 10-year notes due March 1, 2021	449,800			449,787
6.60% 30-year notes due March 15, 2038	247,815			247,771
5.375% 30-year notes due March 1, 2041	345,591			345,511
6.65% 30-year debentures due June 1, 2028	199,466			199,448
5.375% 30-year debentures due October 15, 2035	296,446			296,367
Other	6,301			6,023
Total long-term debt	2,193,392			2,192,616
Less current installments	(3,581		)	(3,266		)
	$	2,189,811		$	2,189,350

The Company maintains a $1 billion unsecured revolving credit facility which expires on November 10, 2016. The Company primarily uses this facility as liquidity back-up for its commercial paper program and has not drawn down any loans under the $1 billion facility and does not anticipate doing so. The Company generally uses commercial paper borrowings for general corporate purposes, funding of acquisitions and the repurchases of its common stock. Under the credit facility, the Company is required to maintain an interest coverage ratio of EBITDA to consolidated net interest expense of not less than 3.0 to 1. The Company was in compliance with this covenant and its other long-term debt covenants at June 30, 2013, and it expects to remain in compliance with all of its debt covenants.

Interest expense and interest income for the three and six months ended June 30, 2013 and 2012 were as follows:



	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
Interest expense	$	31,041		$	31,473		$	61,913		$	63,111
Interest income	(761		)	(1,758		)	(1,389		)	(3,365		)
Interest expense, net	$	30,280		$	29,715		$	60,524		$	59,746