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DEBT

9 Months Ended

Mar. 31, 2012

DEBT

5. DEBT

The Company’s current and non-current debt as of March 31, 2012 and June 30, 2011 consists of the following:

		As of March 31, 2012 (Amounts in thousands)						As of June 30, 2011 (Amounts in thousands)
		Current			Non-current			Current			Non-current
Credit facility		$	—		$	—		$	—		$	100,000
Term loan		15,600			98,800			15,600			110,500
Total debt		$	15,600		$	98,800		$	15,600		$	210,500

During the quarter ended December 31, 2011, the Company borrowed $100 million under its revolving credit facility to help fund the Milligan II Acquisition, which is discussed in Note 2, and had $170 million outstanding under the revolving credit facility. On February 2, 2012, the Company repaid the $170 million outstanding under its revolving credit facility. As of March 31, 2012, the Company has $225 million available under its revolving credit facility.

As discussed in the Company’s Fiscal 2011 10-K, the Company has financial covenants associated with its revolving credit facility and term loan. At March 31, 2012, the Company was in compliance with each financial covenant.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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