XML 63 R35.htm IDEA: XBRL DOCUMENT v2.4.0.8
Debt (Table)
12 Months Ended
Dec. 31, 2013
Debt Disclosure [Abstract]  
Revolving credit facilities
The following table summarizes the terms of the revolving credit facility as of December 31, 2013:
      
(Dollars in millions)   
Maximum borrowing capacity$ 300.0 
Letters of credit outstanding (1)$ 17.6 
Amount borrowed$ - 
Amount available for use$ 282.4 
Borrowing rate: One-month London Interbank Offered Rate ("LIBOR") plus contractual spread (2)  1.67%
 LIBOR  0.17%
 Contractual spread  1.50%
Range of commitment fees on amount available for use (3)   
 Low  0.13%
 High  0.30%
Agreement date December 2010 
Maturity date December 2017 
      
Fees incurred attributable to the Revolving Credit Facility are as follows:   
 Fees incurred as a percent of Maximum borrowing capacity for 2013  0.25%
 Fees incurred, amount   
  2013$ 0.8 
  2012$ 1.1 
  2011$ 1.2 
      
(1)In June 2013, U.S. Cellular provided $17.4 million in letters of credit to the FCC in connection with U.S. Cellular's winning bids in Auction 901. See Note 16 Supplemental Cash Flow Disclosures for additional information on Auction 901.
      
(2)Borrowings under the revolving credit facility bear interest at LIBOR plus a contractual spread based on U.S. Cellular’s credit rating or, at U.S. Cellular’s option, an alternate “Base Rate” as defined in the revolving credit agreement. U.S. Cellular may select a borrowing period of either one, two, three or six months (or other period of twelve months or less if requested by U.S. Cellular and approved by the lenders). If U.S. Cellular provides notice of intent to borrow less than three business days in advance of a borrowing, interest on borrowing is at the Base Rate plus the contractual spread.
      
(3)The revolving credit facility has commitment fees based on the unsecured senior debt ratings assigned to U.S. Cellular by certain ratings agencies.
Long term debt
Long-Term Debt
                
Long-term debt as of December 31, 2013 and 2012 was as follows:
                
December 31,           
(Dollars in thousands)Issuance date Maturity date Call date 2013 2012
  Unsecured Senior Notes           
   6.7%December 2003 and June 2004 December 2033 December 2003 $ 544,000 $ 544,000
   Less: 6.7% Unamortized discount         (11,551)   (11,806)
             532,449   532,194
   6.95%May 2011 May 2060 May 2016   342,000   342,000
  Obligation on capital leases        3,749   4,756
Total long-term debt       $ 878,198 $ 878,950
  Long-term debt, current      $ 166 $ 92
  Long-term debt, noncurrent      $ 878,032 $ 878,858