PART II  NOTE 12 Debt NOTE 12 Debt Debt Maturing Within One Year: Debt maturing within one year consists of the following: Long-term debt consists of the following: Long-term Debt: Covenants Compensating Balance Agreements Maturities of long-term debt 55 FMC CORPORATION    2010 Form 10K Among other restrictions, the Domestic Credit Agreement and the  European Credit Agreement contain financial covenants applicable to  FMC and its consolidated subsidiaries related to leverage (measured as  the ratio of debt to adjusted earnings) and interest coverage (measured  as the ratio of adjusted earnings to interest expense). Our actual leverage  for the four consecutive quarters ended December 31, 2010 was 1.2  which is below the maximum leverage of 3.5. Our actual interest  coverage for the four consecutive quarters ended December 31, 2010  was 14.9 which is above the minimum interest coverage of 3.5. We  were in compliance with all covenants at December 31, 2010. We maintain informal credit arrangements in many foreign countries.  Foreign lines of credit, which include overdraft facilities, typically  do not require the maintenance of compensating balances, as credit  extension is not guaranteed but is subject to the availability of funds. Maturities of long-term debt outstanding, excluding discounts, at  December 31, 2010, are $116.4 million in 2011, $21.6 million in  2012, $6.5 million in 2013, $32.7 million in 2014, $0.2 million in  2015 and $443.1 million thereafter. We had no borrowings under our Domestic Credit Agreement at  December 31, 2010 and 2009. Letters of credit outstanding under the  Domestic Credit Agreement totaled $130.4 million and $153.2 million  at December 31, 2010 and 2009, respectively. Th  erefore, available  funds under the Domestic Credit Agreement were $469.6 million  and $446.8 million at December 31, 2010 and 2009, respectively. At December 31, 2010 and 2009 we had no borrowings, in revolving  credit facility borrowings under the European Credit Agreement, resulting  in available funds of $289.1 million and $315.4 million, respectively. On November 30, 2009, we issued $300 million aggregate principal  amount of 5.2% Senior Notes due 2019. The net proceeds from the  offering were used to pay down existing indebtedness under our revolving  credit agreements and for general corporate purposes. (in Millions) December 31, 2010 December 31, Interest Rate  Percentage Maturity Date 2010 2009 Pollution control and industrial revenue bonds (less unamortized discounts of $0.2 million  and $0.3 million, at December 31, 2010 and 2009) 0.2-6.5% 2011-2035 $182.0 $198.4 Debentures (less unamortized discount of zero and $0.1 million at December 31, 2010 and 2009) 7.8% 2011 45.5 45.4 Senior notes (less unamortized discount of $0.9 million and $1.0 million, at December 31, 2010  and 2009, respectively) 5.2% 2019 299.1 299.0 European credit agreement 2.5% 2012 — — Domestic credit agreement 0.5-3.3% 2012 — — Foreign debt 0-11.3% 2013 92.8 67.7 Total long-term debt 619.4 610.5 Less: current portion of long-term debt 116.4 22.5 TOTAL LONG-TERM DEBT, LESS CURRENT PORTION $503.0 $588.0 (in Millions) December 31, 2010 2009 Short-term debt $18.5 $33.4 Current portion of long-term debt 116.4 22.5 TOTAL DEBT MATURING WITHIN ONE YEAR $134.9 $55.9 Weighted average interest rates for short-term debt outstanding at year-end 5.0% 10.1% Short-term debt consisted of foreign credit lines at December 31, 2010 and 2009. We often provide parent-company guarantees to lending  institutions providing credit to our foreign subsidiaries.