Quarterly report pursuant to Section 13 or 15(d)

DEBT AND CREDIT FACILITIES (Tables)

v3.7.0.1
DEBT AND CREDIT FACILITIES (Tables)
 6 Months Ended
Jun. 30, 2017
Debt Disclosure [Abstract]  
Schedule Of Long-Term Debt
The following represents a summary of our long-term debt as of June 30, 2017 and December 31, 2016:
(In Millions)
June 30, 2017
Debt Instrument
 
Annual Effective Interest Rate
 
Total Principal Amount
 
Debt Issuance Costs
 
Unamortized Discounts
 
Total Debt
Secured Notes
 
 
 
 
 
 
 
 
 
 
$540 Million 8.25% 2020 First Lien Notes
 
9.97%
 
$
504.4

 
$
(6.3
)
 
$
(20.7
)
 
$
477.4

Unsecured Notes
 
 
 
 
 
 
 
 
 
 
$400 Million 5.90% 2020 Senior Notes
 
5.98%
 
88.9

 
(0.2
)
 
(0.2
)
 
88.5

$500 Million 4.80% 2020 Senior Notes
 
4.83%
 
122.4

 
(0.3
)
 
(0.1
)
 
122.0

$700 Million 4.875% 2021 Senior Notes
 
4.89%
 
138.4

 
(0.4
)
 
(0.1
)
 
137.9

$500 Million 5.75% 2025 Senior Notes
 
5.75%
 
500.0

 
(8.1
)
 
—

 
491.9

$800 Million 6.25% 2040 Senior Notes
 
6.34%
 
298.4

 
(2.5
)
 
(3.4
)
 
292.5

ABL Facility
 
N/A
 
550.0

 
N/A

 
N/A

 
—

Fair Value Adjustment to Interest Rate Hedge
 
 
 
 
 
 
 
 
 
1.6

Long-term debt
 
 
 
 
 
 
 
 
 
$
1,611.8

(In Millions)
December 31, 2016
Debt Instrument
 
Annual Effective Interest Rate
 
Total Principal Amount
 
Debt Issuance Costs
 
Undiscounted Interest/(Unamortized Discounts)
 
Total Debt
Secured Notes
 
 
 
 
 
 
 
 
 
 
$540 Million 8.25% 2020 First Lien Notes
 
9.97%
 
$
540.0

 
$
(8.0
)
 
$
(25.7
)
 
$
506.3

$218.5 Million 8.00% 2020 1.5 Lien Notes
 
N/A
 
218.5

 
—

 
65.7

 
284.2

$544.2 Million 7.75% 2020 Second Lien Notes
 
15.55%
 
430.1

 
(5.8
)
 
(85.2
)
 
339.1

Unsecured Notes
 
 
 
 
 
 
 
 
 
 
$400 Million 5.90% 2020 Senior Notes
 
5.98%
 
225.6

 
(0.6
)
 
(0.5
)
 
224.5

$500 Million 4.80% 2020 Senior Notes
 
4.83%
 
236.8

 
(0.7
)
 
(0.2
)
 
235.9

$700 Million 4.875% 2021 Senior Notes
 
4.89%
 
309.4

 
(1.0
)
 
(0.2
)
 
308.2

$800 Million 6.25% 2040 Senior Notes
 
6.34%
 
298.4

 
(2.5
)
 
(3.4
)
 
292.5

ABL Facility
 
N/A
 
550.0

 
N/A

 
N/A

 
—

Fair Value Adjustment to Interest Rate Hedge
 
 
 
 
 
 
 
 
 
1.9

Total debt
 
 
 


 
 
 
 
 
$
2,192.6

Less current portion
 
 
 
 
 
 
 
 
 
17.5

Long-term debt
 
 
 
 
 
 
 
 
 
$
2,175.1


Schedule of Extinguishment of Debt [Table Text Block]
The following is a summary of the debt extinguished during the six months ended June 30, 2017 and the respective gain (loss) on extinguishment for the three and six months ended June 30, 2017:
(In Millions)
 
 
 
 
Gain (Loss) on Extinguishment1
 
 
Debt Extinguished
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
Secured Notes
 
 
 
 
 
 
$540 Million 8.25% 2020 First Lien Notes
 
$
35.6

 
$
(4.9
)
 
$
(4.9
)
$218.5 Million 8.00% 2020 1.5 Lien Notes
 
218.5

 
—

 
45.1

$544.2 Million 7.75% 2020 Second Lien Notes
 
430.1

 
—

 
(104.5
)
Unsecured Notes
 
 
 
 
 
 
$400 Million 5.90% 2020 Senior Notes
 
136.8

 
—

 
(7.8
)
$500 Million 4.80% 2020 Senior Notes
 
114.4

 
—

 
(1.9
)
$700 Million 4.875% 2021 Senior Notes
 
171.0

 
—

 
(2.8
)
 
 
$
1,106.4

 
$
(4.9
)
 
$
(76.8
)
 
 
 
 
 
 
 
1 Includes write-off of undiscounted interest, unamortized discounts and debt issuance costs. In addition, this includes premiums paid of $2.9 million and $47.6 million related to the redemption of our notes for the three and six months ended June 30, 2017, respectively.
Schedule of Maturities of Long-term Debt
Debt Maturities
The following represents a summary of our maturities of debt instruments, excluding borrowings under the ABL Facility, based on the principal amounts outstanding at June 30, 2017:
 
(In Millions)
 
Maturities of Debt
2017 (July 1 - December 31)
$
—

2018
—

2019
—

2020
715.7

2021
138.4

2022
—

2023 and thereafter
798.4

Total maturities of debt
$
1,652.5