Long-term Debt

12 Months Ended

Dec. 31, 2011

Long-term Debt

Note G – Long-term Debt

	December 31
(Thousands of dollars)	2011			2010
Notes payable
6.375% notes, due 2012, net of unamortized discount of $38 at December 31, 2011	$	349,962			349,846
7.05% notes, due 2029, net of unamortized discount of $1,616 at December 31, 2011		248,384			248,291
Notes payable to banks, 0.7375% at December 31, 2010		0			340,000
Other, 6%, due through 2028		1,212			1,254
Total debt including current maturities		599,558			939,391
Current maturities		(350,005	)		(41	)
Total long-term debt	$	249,553			939,350

Future amounts repayable under debt agreements are: $350,005,000 in 2012, $46,000 in 2013, $48,000 in 2014, $51,000 in 2015, $55,000 in 2016 and $249,353,000 thereafter.

During 2011, the Company used a portion of the proceeds from the sale of two U.S. refineries to repay notes payable outstanding under committed and uncommitted credit facilities.