CDW 2014 Annual Report Download - page 43

Download and view the complete annual report

Please find page 43 of the 2014 CDW annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 148

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148

Table of Contents
In September 2014, we redeemed $234.7 million aggregate principal amount of the 2019 Senior Notes. We recorded a
loss on extinguishment of debt of $22.1 million , representing the difference between the redemption price and the net carrying
amount of the purchased debt, adjusted for a portion of the unamortized deferred financing costs and unamortized premium.
In August 2014, we redeemed all of the remaining $325.0 million aggregate principal amount of the 8.0% Senior Secured Notes due
2018 ("Senior Secured Notes"). We recorded a loss on extinguishment of debt of $23.7 million , representing the difference between the
redemption price and the net carrying amount of the purchased debt, adjusted for the remaining unamortized deferred financing costs.
In June 2014, we entered into the Senior Secured Asset-Based Revolving Credit Facility ("Revolving Loan"), a new five-year $1,250.0
million senior secured asset-based revolving credit facility. The Revolving Loan replaces our previous revolving loan credit facility that was to
mature on June 24, 2016. In connection with the termination of the previous facility, we recorded a loss on extinguishment of long-term debt of
$0.4 million , representing a write-off of a portion of unamortized deferred financing costs.
In May 2014, we redeemed all of the remaining $42.5 million aggregate principal amount of the 12.535% Senior Subordinated
Exchange Notes due 2017 ("Senior Subordinated Notes"). We recorded a loss on extinguishment of long-term debt of $2.2 million
, representing
the difference between the redemption price and the net carrying amount of the purchased debt, adjusted for the remaining unamortized deferred
financing costs.
In March 2014, we repurchased $25.0 million aggregate principal amount of the 2019 Senior Notes. We recorded a
loss on extinguishment of long-term debt of $2.7 million , representing the difference between the repurchase price and the net
carrying amount of the purchased debt, adjusted for a portion of the unamortized deferred financing costs.
In January and February 2014, we redeemed $50.0 million aggregate principal amounts of the Senior Subordinated Notes. We recorded
a loss on extinguishment of long-term debt of $2.7 million , representing the difference between the redemption price and the net carrying
amount of the purchased debt, adjusted for a portion of the unamortized deferred financing costs.
In October 2013, we redeemed $155.0 million aggregate principal amount of the Senior Subordinated Notes. In connection with this
redemption, we recorded a loss on extinguishment of long-term debt of $8.5 million , representing the difference between the redemption price
and the net carrying amount of the purchased debt, adjusted for a portion of the unamortized deferred financing costs.
In August 2013, we redeemed $324.0 million aggregate principal amount of the Senior Subordinated Notes. In connection with this
redemption, we recorded a loss on extinguishment of long-term debt of $24.6 million , representing the difference between the redemption price
and the net carrying amount of the purchased debt, adjusted for a portion of the unamortized deferred financing costs.
In July 2013, we redeemed $175.0 million
aggregate principal amount of the Senior Secured Notes. In connection with this redemption,
we recorded a loss on extinguishment of long-term debt of $16.7 million , representing the difference between the redemption price and the net
carrying amount of the purchased debt, adjusted for a portion of the unamortized deferred financing costs.
In April 2013, we entered into a new seven-year, $1,350.0 million aggregate principal amount Senior Secured Term Loan Facility
("Term Loan"). Substantially all of the proceeds were used to repay the $1,299.5 million outstanding aggregate principal amount of the prior
senior secured term loan facility. In connection with this refinancing, we recorded a loss on extinguishment of long-term debt of $10.3 million ,
representing a write-off of the remaining unamortized deferred financing costs related to the prior senior secured term loan facility.
In March 2013, we redeemed $50.0 million aggregate principal amount of the Senior Subordinated Notes. We recorded a loss on
extinguishment of long-term debt of $3.9 million , representing the difference between the redemption price and the net carrying amount of the
purchased debt, adjusted for a portion of the unamortized deferred financing costs.
39