Note 15—Borrowings

As of March 31, 2013 and December 31, 2012 the Company’s borrowings are as follows:

	March 31,			December 31,
(in millions)	2013			2012
3.75% notes due 2022, net of unamortized discount of ($1.1) and ($1.1) respectively	$	348.9		$	348.9
5.125% notes due 2020, net of unamortized discount of ($0.9) and ($0.9) respectively	249.1			249.1
6.125% notes due 2016, net of unamortized discount of ($0.4) and ($0.4) respectively	149.6			149.6
Revolving credit facility	—			—
Industrial development and revenue bonds through 2018	4.5			4.5
Other, including capital lease obligations	1.2			0.4
Total long-term debt	753.3			752.5
Less current portion	(0.8		)	—
Total long-term debt, net of current portion	$	752.5		$	752.5

Revolving Credit Facilities

As of March 31, 2013 the Company had $600.0 million available under its Third Amended and Restated Credit Agreement (the “Amended Credit Agreement”) administered by JPMorgan Chase Bank, N.A. During the three months ended March 31, 2013 there was no interest on borrowings under the revolving credit facility; the average interest rate of borrowings under the revolving credit facility for the three months ended March 31, 2012 was 1.34%.

Uncommitted Line of Credit

The Company also maintains an uncommitted line of credit of which $45.0 million was available for borrowing as of March 31, 2013 and December 31, 2012. The average interest rate on the uncommitted line of credit was 1.5% for the three months ended March 31, 2013 and 2012.

Covenants and Limitations

Under the Company’s various debt and credit facilities, the Company is required to meet various restrictive covenants and limitations, including certain net worth, cash flow ratios, and limits on outstanding debt balances held by certain subsidiaries. The Company was in compliance with all covenants and limitations as of March 31, 2013 and December 31, 2012.

Other Matters

Cash payments for interest were $4.6 million and $5.9 million in the three months ended March 31, 2013 and 2012, respectively. Interest expense, net is presented net of interest income of $0.1 million and $0.1 million in the three months ended March 31, 2013 and 2012, respectively.

At March 31, 2013, the fair value of the Company’s par value $350 million, 3.75% senior notes due 2022, $250 million, 5.125% senior notes due 2020, and par value $150 million, 6.125% senior notes due 2016, using the Level 2 inputs, is approximately $347.1 million, $273.8 and $169.4 million, respectively. Fair value is estimated based on current yield rates plus the Company’s estimated credit spread available for financings with similar terms and maturities. The Company estimates that the fair value of amounts outstanding under the revolving credit facility approximates their carrying value.