4.	Long-Term Debt

	March 31,			December 31,			March 31,
	2017			2016			2016
	(Dollars in Thousands)
6.6% Senior Notes, due 2018	$	299,579		$	299,483		$	299,201
7% Debentures, due 2025		124,112			124,090			124,024
6.25% Senior Notes, due 2037		227,989			227,975			227,933
4.25 % Senior Notes, due 2024		395,392			395,252			394,843
Floating Rate Notes, due 2017, interest rate of 2.10% at March 31, 2017 and December 31, 2016 and 1.36% at March 31, 2016		298,878			299,033			298,837
Term Loan Facility, due 2018, interest rate of 1.94% at March 31, 2016		—			—			217,109
Revolving Facility, due 2021, interest rate of 1.89%, 1.86% and 3.75% at March 31, 2017, December 31, 2016 and March 31, 2016, respectively		210,000			160,000			30,000
Trade Receivable Facility, interest rate of 1.51%, 1.34% and 1.13% at March 31, 2017, December 31, 2016 and March 31, 2016, respectively		290,000			180,000			159,925
Other notes		344			356			885
Total debt		1,846,294			1,686,189			1,752,757
Less: Current maturities of long-term debt and short-term facilities		(290,048	)		(180,036	)		(177,430	)
Long-term debt	$	1,556,246		$	1,506,153		$	1,575,327

4.	Long-Term Debt (continued)

The Corporation, through a wholly-owned special-purpose subsidiary, has a $300,000,000 trade receivable securitization facility (the Trade Receivable Facility), which matures on September 27, 2017. The Trade Receivable Facility, with SunTrust Bank, Regions Bank, PNC Bank, N.A., The Bank of Tokyo-Mitsubishi UFJ, LTD., New York Branch, and certain other lenders that may become a party to the facility from time to time, is backed by eligible trade receivables, as defined, and is limited to the lesser of the facility limit or the borrowing base, as defined, of $362,693,000, $333,302,000 and $327,734,000 at March 31, 2017, December 31, 2016 and March 31, 2016, respectively. These receivables are originated by the Corporation and then sold to the wholly-owned special-purpose subsidiary by the Corporation. The Corporation continues to be responsible for the servicing and administration of the receivables purchased by the wholly-owned special-purpose subsidiary. Borrowings under the Trade Receivable Facility bear interest at a rate equal to one-month LIBOR plus 0.725%, subject to change in the event that this rate no longer reflects the lender’s cost of lending. The Trade Receivable Facility contains a cross-default provision to the Corporation’s other debt agreements.

The Corporation has a credit agreement with JPMorgan Chase Bank, N.A., as Administrative Agent, Branch Banking and Trust Company (BB&T), Deutsche Bank Securities, Inc., SunTrust Bank and Wells Fargo Bank, N.A., as Co-Syndication Agents, and the lenders party thereto (the Credit Agreement), which provides a $700,000,000 five-year senior unsecured revolving facility (the Revolving Facility). The Credit Agreement requires the Corporation’s ratio of consolidated debt-to-consolidated earnings before interest, taxes, depreciation, depletion and amortization (EBITDA), as defined by the Credit Agreement, for the trailing-twelve months (the Ratio) to not exceed 3.50x as of the end of any fiscal quarter, provided that the Corporation may exclude from the Ratio debt incurred in connection with certain acquisitions during such quarter or the three preceding quarters so long as the Ratio calculated without such exclusion does not exceed 3.75x. Additionally, if no amounts are outstanding under both the Revolving Facility and the Trade Receivable Facility, consolidated debt, including debt for which the Corporation is a co-borrower, may be reduced by the Corporation’s unrestricted cash and cash equivalents in excess of $50,000,000, such reduction not to exceed $200,000,000, for purposes of the covenant calculation. The Corporation was in compliance with this Ratio at March 31, 2017.

Available borrowings under the Revolving Facility are reduced by any outstanding letters of credit issued by the Corporation under the Revolving Facility. At March 31, 2017, December 31, 2016 and March 31, 2016, the Corporation had $2,507,000 of outstanding letters of credit issued under the Revolving Facility.

Current maturities of long-term debt and short-term facilities consist of borrowings under the Trade Receivable Facility as well as the current portions of the other notes.

Accumulated other comprehensive loss includes the unamortized value of terminated forward starting interest rate swap agreements. For the three months ended March 31, 2017 and 2016, the Corporation recognized $356,000 and $332,000, respectively, as additional interest expense. The ongoing amortization of the terminated value of the forward starting interest rate swap agreements will increase annual interest expense by approximately $1,400,000 until the maturity of the 6.6% Senior Notes in 2018.