(7) DEBT

At September 30, 2011 and March 31, 2011, short-term borrowings of $21.1 million and $9.1 million, respectively, consisted of borrowings under various operating lines of credit and working capital facilities maintained by certain of the Company’s non-U.S. subsidiaries. Certain of these borrowings are collateralized by receivables, inventories and/or property. These borrowing facilities, which are typically for one-year renewable terms, generally bear interest at current local market rates plus up to one percent per annum. The weighted average interest rate on short-term borrowings was approximately 5.4% and 4.7% at September 30, 2011 and March 31, 2011, respectively.

Total long-term debt consists of:


	September 30, 2011		March 31, 2011
	(In thousands)
8 5/8% Senior Secured Notes due 2018	$	675,000	$	675,000
Floating Rate Convertible Senior Subordinated Notes due 2013		60,000		60,000
Other, including capital lease obligations and other loans at interest rates generally ranging up to 11.0% due in installments through 2024		12,043		14,070

		747,043		749,070
Fair value adjustments on hedged debt		3,774		—

Total		750,817		749,070
Less-current maturities		1,448		2,132

Total long-term debt	$	749,369	$	746,938

Total debt at September 30, 2011 and March 31, 2011 was $771.9 million and $758.2 million, respectively.

As discussed in Note 3, the Company purchased interest rate swaps during the second fiscal quarter to hedge fair value risk associated with the fixed interest rate on $100.0 million of its Senior Secured Notes. The interest rate swaps have been designated as fair value hedging instruments.