Debt

The Company is obligated under notes and other indebtedness as follows (in millions):



	June 30, 2014		December 31, 2013
Accounts receivable securitization program	$	150.0	$	150.0
Secured promissory notes	7.5		7.8
Term loan credit facility	—		125.0
Revolving credit facilities	128.9		10.4
Senior notes	370.0		370.0
Related party credit agreements	4.8		5.8
Other indebtedness	10.5		14.0
	671.7		683.0
Less current portion of debt	207.2		283.6
Long-term debt	$	464.5	$	399.4

Accounts receivable securitization program

DST securitizes certain of its domestic accounts receivable through an accounts receivable securitization program with a third-party bank. The maximum amount that can be outstanding under this program is $150.0 million. In May 2014, the Company renewed its accounts receivable securitization program. The facility will expire by its terms on May 14, 2015, unless renewed.

The outstanding amount under the program was $150.0 million at both June 30, 2014 and December 31, 2013. During the six months ended June 30, 2014 and 2013, total proceeds from the accounts receivable securitization program were approximately $505.1 million and $482.2 million, respectively, and total repayments were approximately $505.1 million and $467.2 million, respectively.

Term loan credit facility

The Company repaid its $125.0 million term loan credit facility in June 2014. The facility had a maturity date of October 28, 2014. Amounts prepaid may not be re-borrowed.

Revolving credit facilities

The Company has a syndicated line of credit facility which provides for a revolving unsecured credit facility in an aggregate principal amount of up to $630.0 million. On April 17, 2014, the Company amended the syndicated line of credit facility to, among other items, allow for certain additional dispositions of non-operating assets, the proceeds of which were used to repurchase a portion of the outstanding shares owned by the Argyros Family Trust and certain of its affiliates (collectively, “Argyros Group”).

Senior Notes

DST has $370.0 million of outstanding privately placed senior notes (collectively, the “Senior Notes”) at both June 30, 2014 and December 31, 2013. On April 17, 2014, the Company received a consent from the holders of a majority of the Senior Notes whereby the noteholders consented to the Company’s repurchase of DST common stock by the Company from the Argyros Group.

Fair value

Based upon the borrowing rates currently available to the Company and its subsidiaries for indebtedness with similar terms and average maturities, the carrying value of long-term debt, with the exception of the Senior Notes, is considered to approximate fair value. The estimated fair values of the Senior Notes were derived principally from quoted prices for similar financial instruments (Level 2 in the fair value hierarchy).

As of June 30, 2014 and December 31, 2013, the carrying values and estimated fair values of the Senior Notes were as follows (in millions):



	June 30, 2014				December 31, 2013
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Senior notes - Series A	$	40.0	$	40.2	$	40.0	$	40.6
Senior notes - Series B	105.0		109.9		105.0		110.0
Senior notes - Series C	65.0		68.7		65.0		68.3
Senior notes - Series D	160.0		171.8		160.0		168.1
Total	$	370.0	$	390.6	$	370.0	$	387.0