38 ENERGIZER 2000 ANNUAL REPOR T NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (continued) (Dollars in millions except per share data) (10) DEFINED CONTRIBUTION PLAN (11) DEBT (12) SALE OF ACCOUNTS RECEIVABLE Energizer sponsors employee savings plans, which cover substan- tially all U.S. employees. Energizer matches 50% of participants’ before-tax contributions up to 6% of compensation. In addition,  participants can make after-tax contributions of 1% of compensation into the savings plan. This participant after-tax contribution is matched within the pension plan at 325%. Subsequent to the spin- off from Ralston, Energizer charged $1.8 to expense in fiscal 2000. Notes payable at September 30, 2000 and 1999, consisted of notes payable to financial institutions with original maturities of less than one year of $135.0 and $118.5, respectively, and had a weighted- average interest rate of 7.9% and 7.3%, respectively. The detail of long-term debt at September 30 is as follows. Prior to the spin-off, substantially all regular Energizer employees  in the United States were eligible to participate in the Ralston- sponsored defined contribution plans. In fiscal 1999, Ralston amended the contribution structure of the plans. Prior to January 1, 1999, Ralston generally matched 100% of participants’ before-tax contributions up to 6% of compensation for employees hired prior to July 1, 1993. For employees hired on or after July 1, 1993, Ralston matched before-tax participant contributions in increasing 20% increments for each year of service. On January 1, 1999 and thereafter, Ralston matched 25% of participants’ before-tax contribu- tions up to 4% of compensation. In addition, participants could make after-tax contributions of 1% or 1.75% of compensation into the savings plan. This participant after-tax contribution was matched within the pension plan at 300%. Amounts charged to expense  are shown in the table below. Prior to the spin-off, Energizer  recorded costs as allocated by Ralston. The amount of such costs was $1.2 for the six months ended March 31, 2000, $3.0 in 1999 and $8.2 in 1998. Immediately prior to the spin-off, Ralston borrowed $478.0 through several interim-funding facilities and assigned all repayment  obligations of those facilities to Energizer. In April and May 2000, Energizer entered into separate financing agreements, including an agreement to sell domestic trade receivables as discussed in Note 12 below, and repaid the interim-funding facilities. Energizer entered into an agreement to sell, on an ongoing basis,  a pool of domestic trade accounts receivable to a wholly owned bankruptcy-remote subsidiary of Energizer. The subsidiary qualifies as a Special Purpose Entity (SPE) under SFAS 125, “Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities.” The SPE’s sole purpose is the acquisition of receivables Aggregate maturities on all long-term debt are as follows: Year  ending September 30, 2003 – $15.0; 2005 – $ 305.0; and  thereafter – $50.0. Under the terms of the facilities, the ratio of Energizer’s total  indebtedness to its EBITDA cannot be greater than 3 to 1 and  the ratio of its EBIT to total interest expense must exceed 3 to 1.  Energizer maintains total committed long-term debt facilities  of $625.0, of which $255.0 remained available as of  September 30, 2000. 2000 1999 Private Placement, interest rates  ranging from 7.8% to 8.0%,  due 2003 to 2010 $ 175.0 $ – Revolving Credit Facility, interest  rates ranging from 7.4% to  7.8%, due 2005 195.0 – Other, interest rates ranging  from 7.6% to 18.9% at 9-30-99  due 1999 to 2002 – 2.2 370.0 2.2 Less current portion – (0.3) Total long-term debt $ 370.0 $ 1.9