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Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2014
Debt Disclosure [Abstract]  
Long-Term Debt

 

December 31

(add 000)

 

2014

 

 

2013

 

6.6% Senior Notes, due 2018

 

$

299,123

 

 

$

298,893

 

7% Debentures, due 2025

 

 

124,500

 

 

 

124,471

 

6.25% Senior Notes, due 2037

 

 

228,184

 

 

 

228,148

 

4.25% Senior Notes, due 2024

 

 

395,309

 

 

 

 

Floating Rate Notes, due 2017, interest rate of 1.33% at December 31, 2014

 

 

298,869

 

 

 

 

Term Loan Facility, due 2018, interest rate of 1.67% at December 31, 2014 and 2013

 

 

236,258

 

 

 

248,441

 

Trade Receivable Facility, interest rate of 0.77% at December 31, 2013

 

 

 

 

 

130,000

 

Other notes

 

 

3,152

 

 

 

968

 

Total

 

 

1,585,395

 

 

 

1,030,921

 

Less current maturities

 

 

(14,336

)

 

 

(12,403

)

Long-term debt

 

$

1,571,059

 

 

$

1,018,518

 

 

Schedule Principal Amount, Effective Interest Rate and Maturity Date of Debentures and Senior Notes

The principal amount, effective interest rate and maturity date for the Corporation’s Senior Notes and Debentures are as follows:

 

 

 

Principal

Amount

(add 000)

 

 

Effective Interest Rate At Issue Date

 

 

Maturity Date

6.6% Senior Notes

 

$

300,000

 

 

 

6.81

%

 

April 15, 2018

7% Debentures

 

$

125,000

 

 

 

7.12

%

 

December 1, 2025

6.25% Senior Notes

 

$

230,000

 

 

 

6.45

%

 

May 1, 2037

4.25% Senior Notes

 

$

400,000

 

 

 

4.25

%

 

July 2, 2024

Floating Rate Notes

 

$

300,000

 

 

LIBOR+1.10%

 

 

June 30, 2017

 

Commitments Amounts Under Senior Unsecured Credit Facilities

The Senior Unsecured Credit Facilities are syndicated with the following banks:

 

Lender

(add 000)

 

Revolving Facility

Commitment

 

 

Term Loan Facility

Commitment

 

JPMorgan Chase Bank, N.A.

 

$

46,667

 

 

$

33,333

 

Wells Fargo Bank, N.A.

 

 

46,667

 

 

 

33,333

 

Branch Banking and Trust Company (“BB&T”)

 

 

46,667

 

 

 

33,333

 

SunTrust Bank

 

 

46,667

 

 

 

33,333

 

Deutsche Bank AG New York Branch

 

 

46,667

 

 

 

33,333

 

PNC Bank, National Association

 

 

29,167

 

 

 

20,833

 

Regions Bank

 

 

29,167

 

 

 

20,833

 

The Northern Trust Company

 

 

29,167

 

 

 

20,833

 

Comerica Bank

 

 

14,582

 

 

 

10,418

 

The Bank of Tokyo-Mitsubishi UFJ, Ltd.

 

 

14,582

 

 

 

10,418

 

Total

 

$

350,000

 

 

$

250,000

 

 

Corporation's Long-Term Debt Maturities

The Corporation’s long-term debt maturities for the five years following December 31, 2014, and thereafter are:

 

(add 000)

 

 

 

 

2015

 

$

14,336

 

2016

 

 

19,064

 

2017

 

 

317,349

 

2018

 

 

486,383

 

2019

 

 

55

 

Thereafter

 

 

748,208

 

Total

 

$

1,585,395