Long-Term Debt (Tables)

3 Months Ended

Mar. 29, 2013



(in millions)	March 29, 2013			December 31, 2012
North America
5.75% Senior Notes due 2022	$	600.0		$	600.0
Subordinated Convertible Notes due 2029	429.5			429.5
Debt discount on Subordinated Convertible Notes due 2029	(262.6		)	(263.0		)
0.875% Convertible Notes due 2013	355.0			355.0
Debt discount on 0.875% Convertible Notes due 2013	(15.0		)	(20.4		)
Senior Floating Rate Notes	125.0			125.0
Revolving Credit Facility	—			—
Other	9.0			9.0
Europe and Mediterranean
Spanish Term Loans	8.4			14.6
Credit facilities	24.3			14.7
Uncommitted accounts receivable facilities	14.6			4.0
Other	20.3			11.7
Rest of World (“ROW”)
Credit facilities	239.5			170.0
Total debt	1,548.0			1,450.1
Less current maturities	611.3			511.2
Long-term debt	$	936.7		$	938.9

5.75% Senior Notes due 2022 [Member]

Schedule of Long-Term-Debt

The Company's 5.75% Senior Notes are summarized in the table below:



	5.75% Senior Notes⁽¹⁾
(in millions)	March 29, 2013		December 31, 2012
Face Value	$	600.0	$	600.0
Fair Value (Level 2)	612.0		619.5
Interest Rate	5.75%
Interest Payment	Semi-Annual: Apr 1 & Oct 1
Maturity Date	October 2022



		5.75% Senior Notes
	Beginning Date	Percentage
Call Option⁽²⁾	October 1, 2017	102.875%
	October 1, 2018	101.917%
	October 1, 2019	100.958%
	October 1, 2020 and thereafter	100.000%


(1)	Jointly and severally guaranteed by the Company's wholly owned U.S. subsidiaries.

(2)

The Company may, at its option, redeem the 5.75% Senior Notes on or after the stated beginning dates at percentages noted above (plus accrued and unpaid interest). Additionally, the Company, may on or prior to October 1, 2015 redeem in the aggregate up to 35% of the aggregate principal amount of 5.75% Senior Notes issued with the cash proceeds from one or more equity offerings, at a redemption price in cash equal to 105.75% of the principal plus accrued and unpaid interest so long as (i) at least 65% of the aggregate principal amount of the 5.75% Senior Notes issued remains outstanding immediately after giving effect to any such redemption; and (ii) notice of any such redemption is given within 60 days after the date of the closing of any such equity offering. In addition, at any time prior to October 1, 2017, the Company may redeem some or all of the 5.75% Senior Notes at a redemption price equal to 100% of the principal amount plus accrued and unpaid interest, plus a make whole premium.

Convertible Debt [Member]

Schedule of Long-Term-Debt

The Company’s convertible debt instruments outstanding as of March 29, 2013 and December 31, 2012 are as follows:



	Subordinated Convertible Notes						0.875% Convertible Notes
(in millions)	March 29, 2013			December 31, 2012			March 29, 2013			December 31, 2012
Face value	$	429.5		$	429.5		$	355.0		$	355.0
Debt discount	(262.6		)	(263.0		)	(15.0		)	(20.4		)
Book value	166.9			166.5			340.0			334.6
Fair value (Level 1)	537.4			464.1			353.7			349.7
Maturity date	Nov 2029						Nov 2013
Stated annual interest rate	4.50% until Nov 2019 2.25% until Nov 2029						0.875% until Nov 2013
Interest payments	Semi-annually: May 15 & Nov 15						Semi-annually: May 15 & Nov 15

7.125% Senior Notes and Senior Floating Rate Notes [Member]

Schedule of Long-Term-Debt

An exchange offer commenced on June 11, 2007 and was completed on July 26, 2007 to replace the unregistered Notes with registered Notes with like terms pursuant to an effective Registration Statement on Form S-4.



	Senior Floating Rate Notes ⁽¹⁾
(in millions)	March 29, 2013			December 31, 2012
Face value	$	125.0		$	125.0
Fair value (Level 1)	124.1			122.7
Interest rate	2.7		%	2.7		%
Interest payment	3-month LIBOR rate plus 2.375% Quarterly: Jan 1, Apr 1, Jul 1 & Oct 1
Maturity date	Apr 2015



	Beginning Date	Percentage
Call Option⁽²⁾	April 1, 2012	103.563%
	April 1, 2013	102.375%
	April 1, 2014	101.880%
	April 1, 2015	100.0%


(1)	Jointly and severally guaranteed by the Company's wholly-owned U.S. subsidiaries.


(2)	The Company may, at its option, redeem the Notes on or after the stated beginning dates at percentages noted above (plus accrued and unpaid interest.)

Spanish Term Loan [Member]

Schedule of Long-Term-Debt

The proceeds from the Spanish Term Loans were used to partially fund the acquisition of Enika Biskra and for general working capital purposes. There is no remaining availability under these Spanish Term Loans.



	Spanish Term Loans ⁽¹⁾
(in millions)	March 29, 2013			December 31, 2012
Outstanding borrowings	$	8.4		$	14.6
Fair value (Level 2)	8.5			14.8
Interest rate – weighted average ⁽²⁾	2.5		%	3.7		%


(1)	The terms of the Spanish Term Loans are as follows:



(in millions)	Original Amount		Issuance Date	Maturity Date	Interest Rate	Loan and Interest Payable	Interest Rate Swap ⁽²⁾
Term Loan 1	€	20.0	Feb 2008	Feb 2013	Euribor +0.5%	Semi-annual: Aug & Feb	4.20	%
Term Loan 2	€	10.0	Apr 2008	Apr 2013	Euribor +0.75%	Semi-annual: Apr & Oct	4.58	%
Term Loan 3	€	21.0	Jun 2008	Jun 2013	Euribor +0.75%	Quarterly: Mar, Jun, Sept & Dec	4.48	%
Term Loan 4	€	15.0	Sep 2009	Aug 2014	Euribor +2.0%	Quarterly: Mar, Jun, Sept & Dec Principal payments: Feb & Aug	1.54	%


(2)	The Company entered into fixed interest rate swaps to coincide with the terms and conditions of the term loans that will effectively hedge the variable interest rate with a fixed interest rate.

Asset Based Revolving Credit Facility [Member]

Schedule of Credit Facilities

The Company’s Revolving Credit Facility is summarized in the table below:



	Revolving Credit Facility
(in millions)	March 29, 2013		December 31, 2012
Outstanding borrowings	$	—	$	—
Total credit under facility	700.0		700.0
Undrawn availability	570.9		515.3
Interest rate	N/A		1.5		%
Outstanding letters of credit	$	18.3	$	18.3
Original issuance	Jul 2011
Maturity date	Jul 2017

Europe And Mediterranean Credit Facilities [Member]

Schedule of Credit Facilities

The Company’s Europe and Mediterranean credit facilities are summarized in the table below:



	Europe and Mediterranean Credit Facilities
(in millions)	March 29, 2013			December 31, 2012
Outstanding borrowings	$	24.3		$	14.7
Undrawn availability	48.0			82.5
Interest rate – weighted average	4.2		%	6.4		%
Maturity date	Various

Europe And Mediterranean Uncommitted Accounts Receivable Facilities [Member]

Schedule of Credit Facilities

The Company’s Europe and Mediterranean uncommitted accounts receivable facilities are summarized in the table below:



	Uncommitted Accounts Receivable Facilities
(in millions)	March 29, 2013		December 31, 2012
Outstanding borrowings	$	14.6	$	4.0
Undrawn availability	30.9		42.8
Interest rate – weighted average	1.0		2.1		%
Maturity date	Various

Rest Of World Row Credit Facilities [Member]

Schedule of Credit Facilities

The Company’s ROW credit facilities are summarized in the table below:



	ROW Credit Facilities
(in millions)	March 29, 2013			December 31, 2012
Outstanding borrowings	$	239.5		$	170.0
Undrawn availability	348.6			336.9
Interest rate – weighted average	3.9		%	5.5		%
Maturity date	Various

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details