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Table of Contents CDW CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Long-Term Debt Maturities
As of December 31, 2014 , the maturities of long-term debt were as follows:
Fair Value
The fair value of the Company's long-term debt instruments at December 31, 2014 was $3,208.7 million . The fair value of the 2019
Senior Notes, the 2022 Senior Notes, and the 2024 Senior Notes was estimated using quoted market prices for identical assets or
liabilities that are traded in over-the-counter secondary markets that are not considered active. The fair value of the Term Loan was
estimated using dealer quotes for identical assets or liabilities in markets that are not considered active. Consequently, the Company's
long-term debt is classified as Level 2 within the fair value hierarchy.
At December 31, 2014 , the carrying value of the Company's long-term debt was $3,192.4 million , excluding $1.3 million in
unamortized premium and $3.7 million in unamortized discount.
Deferred Financing Costs
The following table summarizes the deferred financing costs activity for the years ended December 31, 2014 and 2013 :
As of December 31, 2014 and December 31, 2013 , the weighted-average remaining life of unamortized deferred financing costs was
6.6 and 4.9 years, respectively.
Income before income taxes was taxed under the following jurisdictions:
80
(in millions)
Years ending December 31,
2015
$
15.4
2016
—
2017
—
2018
—
2019
503.9
Thereafter
2,673.1
$
3,192.4
(in millions) December 31,
2014
2013
Beginning balance
$
30.1
$
53.2
Additional costs capitalized
21.9
6.1
Recognized in interest expense
(6.4
)
(9.1
)
Write-off of unamortized deferred financing costs
(12.6
)
(20.1
)
Ending balance
$
33.0
$
30.1
8.
Income Taxes
(in millions) Years Ended December 31,
2014
2013
2012
Domestic
$
366.6
$
179.4
$
170.3
Foreign
21.1
16.1
15.8
Total
$
387.7
$
195.5
$
186.1