10. DEBT

Long-term debt consisted of the following:


	June 30, 2012				December 31, 2011
	Face		Carrying Value		Face		Carrying Value
Five-Year Revolving Credit Line Due June 2016	$	170.0	$	170.0	$	0.0	$	0.0
4.6% Notes Due July 1, 2013		135.2		135.4		135.2		135.4
6.0% Notes Due October 1, 2015		250.0		249.8		250.0		249.8
8.95% Notes Due July 1, 2017		249.4		248.9		250.0		249.5
Other		3.1		3.1		1.2		1.2

Long-term Debt, Total	$	807.7	$	807.2	$	636.4	$	635.9

All of the outstanding notes are unsecured and may be repaid in whole or in part, at our option at any time subject to a prepayment adjustment.

During the second quarter of 2012, we repurchased portions of our 8.95% notes due July 1, 2017 with a total carrying value of $0.6 for a total purchase price of $0.8 including accrued interest, resulting in a loss of $0.2. Net loss from our debt repurchases is included in net loss on early extinguishment of debt in the accompanying statement of income.

During the first and second quarters of 2011, we repurchased portions of our 4.6% notes due July 1, 2013 with total carrying values of $1.6 and $3.8, respectively, for total purchase prices of $1.7 and $4.1, respectively, including accrued interest, resulting in losses of $0.1 and $0.2, respectively.

In April 2012, we drew down $210.0 from our existing revolving credit facility for the purposes of funding the Umeco transaction, of which $170.0 remained outstanding as of June 30, 2012. There remains $230.0 of borrowings available under the $400.0 unsecured five-year revolving credit facility at June 30, 2012. We continue to be required to comply with certain customary financial covenants under the Agreement: (i) the ratio of consolidated total debt to consolidated earnings before interest, taxes, depreciation and amortization (“EBITDA”), and (ii) the ratio of consolidated EBITDA to consolidated interest expense. We are in compliance with these covenants and expect to be in compliance for the foreseeable future.

At June 30, 2012 and December 31, 2011, the fair value of our long-term debt was $900.4 and $715.4, respectively. The fair value of our debt is based on Level 2 inputs, as defined in Note 17. These inputs include a discounted cash flow analysis which incorporates the contractual terms of the notes and observable market-based inputs that include time value, interest rate curves, and credit spreads.

The weighted-average interest rate on all of our debt was 5.68% and 6.90%, as of June 30, 2012 and 2011, respectively. The weighted-average interest rate on short-term borrowings outstanding as of June 30, 2012 and 2011 was 0.78% and 1.54%, respectively.