Long-Term Debt:

Long-term debt at March 31, 2017 and December 31, 2016 consisted of the following (in thousands):



	March 31,		December 31,
	2017		2016
1.875% Senior notes, net of unamortized discount and debt issuance costs of $4,305 at March 31, 2017 and $7,823 at December 31, 2016	$	418,471	$	719,617
3.00% Senior notes, net of unamortized discount and debt issuance costs of $1,286 at December 31, 2016	—		248,714
4.15% Senior notes, net of unamortized discount and debt issuance costs of $3,737 at March 31, 2017 and $3,859 at December 31, 2016	421,262		421,141
4.50% Senior notes, net of unamortized discount and debt issuance costs of $1,116 at March 31, 2017 and $2,380 at December 31, 2016	174,098		347,620
5.45% Senior notes, net of unamortized discount and debt issuance costs of $4,274 at March 31, 2017 and $4,313 at December 31, 2016	345,726		345,687
Commercial paper notes	314,500		247,503
Variable-rate foreign bank loans	38,829		38,939
Miscellaneous	—		41
Total long-term debt	1,712,886		2,369,262
Less amounts due within one year	314,500		247,544
Long-term debt, less current portion	$	1,398,386	$	2,121,718

In the three-month period ended March 31, 2017, using a portion of the proceeds from the sale of the Chemetall Surface Treatment business, we repaid the 3.00% Senior notes in full, €307.0 million of the 1.875% Senior notes and $174.7 million of the 4.50% Senior notes, as well as related tender premiums of $45.2 million. As a result, during the three-month period ended March 31, 2017, we recorded a loss on early extinguishment of debt of $52.8 million in Interest and financing expenses on the consolidated statements of income, representing the tender premiums, fees, unamortized discounts and unamortized deferred financings costs from the redemption of these senior notes.

Current portion of long-term debt at March 31, 2017 consisted of commercial paper notes with a weighted-average interest rate of approximately 1.54% and a weighted-average maturity of 29 days.

The carrying value of our 1.875% Euro-denominated senior notes has been designated as an effective hedge of our net investment in certain foreign subsidiaries where the Euro serves as the functional currency, and gains or losses on the revaluation of these senior notes to our reporting currency are recorded in accumulated other comprehensive loss. During the three-month periods ended March 31, 2017 and 2016, losses of $13.7 million and $9.5 million (net of income taxes), respectively, were recorded in accumulated other comprehensive loss in connection with the revaluation of these senior notes to our reporting currency.