Debt

9 Months Ended

Sep. 30, 2013

Debt

11. Debt

The components of long-term debt as of September 30, 2013 and December 31, 2012 are as follows (in millions):

	September 30, 2013		December 31, 2012
4% Notes, Due 2013 (2012: €218.8)	$	—	$	288.8
4 7/8% Notes, Due 2013		180.5		180.5
6 3/8% Notes, Due 2014		—		326.4
5 3/8% Notes, Due 2016		400.0		400.0
1 7/8% Notes, Due 2017		300.0		300.0
1 3/4% Notes, Due 2018		250.0		—
8 5/8% Debentures, Due 2021		56.6		59.3
3 1/4% Notes, Due 2022		300.0		300.0
3 1/4% Notes, Due 2023		250.0		—
7 7/ 8% Debentures, Due 2023		112.0		113.8
6 5/8% Debentures, Due 2028		184.3		200.0
5 7/8% Notes, Due 2036		161.8		300.0
Miscellaneous		19.9		25.4
Total debt	$	2,215.1	$	2,494.2
Less current portion		180.5		469.3
Total long-term debt	$	2,034.6	$	2,024.9

In June 2013, we issued $250 million in aggregate principal amount of 1.750% Notes due 2018 (the “2018 Notes”) and $250 million in aggregate principal amount of 3.250% Notes due 2023 (the “2023 Notes” and together with the “2018 Notes,” the “Notes”). Net proceeds were used to repurchase and redeem outstanding debt in June 2013 and July 2013 (as discussed below).

The 2018 Notes will mature on June 15, 2018 and bear interest at a fixed rate of 1.750% per annum. The 2023 Notes will mature on June 15, 2023 and bear interest at a fixed rate of 3.250% per annum. Interest is payable on the Notes from June 15, 2013 semi-annually, in arrears, on June 15 and December 15 of each year beginning December 15, 2013. The Notes constitute unsecured and unsubordinated obligations of the Company and rank on parity with all of the Company’s other unsecured and unsubordinated indebtedness from time to time outstanding.

In July 2013, we used a portion of the net proceeds from the issuance of the Notes and cash on hand to redeem the remaining outstanding $248 million principal amount of 6.375% Notes due 2014. We recorded a loss on early extinguishment of debt of approximately $13.8 million in the third quarter of 2013, primarily due to a contractual redemption premium.

In June 2013, we used a portion of the net proceeds from the issuance of the Notes to repurchase an aggregate principal amount of $236.8 million of our outstanding debt securities in accordance with a tender offer announced in May 2013, resulting in a loss on early extinguishment of debt of $43.1 million, which primarily consisted of $41.9 million in premiums paid to repurchase the debt. The repurchases primarily related to our 6.375% Notes due 2014 ($78.4 million principal amount) and 5.875% Notes due 2036 ($138.2 million principal amount).

In January 2013, we repaid at maturity the remaining principal amount of €218.8 million ($296.9 million) on our 4% notes.