35 Facility , including limitations on, among other things, distributions and dividends, acquisitions and investments, indebtedness, liens and af filiate transactions. In the aggregate, however , the restrictions in the Revolving Credit Facility provide the Company greater flexibility than those under the T erminated Credit Facility , and generally only apply in the event that the Company's availability under the Revolving Credit Facility falls below certain specific thresholds. Failure to comply with any of the covenants, financial tests and ratios required by the Company's existing or future debt obligations could result in a default under those agreements and under other agreements containing cross-default provisions, as defined in the Company's Revolving Credit Facility , 0.875% Senior Convertible Notes, Subordinated Convertible Notes, Senior Floating Rate Notes, 5.75% Senior Notes and various other credit facilities maintained by the Company's restricted subsidiaries. A default would permit lenders to cease making further extensions of credit, accelerate the maturity of the debt under these agreements and foreclose upon any collateral securing that debt. Indebtedness under the Company's Revolving Credit Facility is secured by: (a) for US borrowings under the facility , a first priority security interest in substantially all of the Company's domestic assets and, (b) for Canadian borrowings, a first priority security interest in substantially all of the Company's domestic and Canadian assets.   In addition, the lenders under the Company's Revolving Credit Facility have received a pledge of (i) 100% of the equity interests in substantially all of the Company's domestic subsidiaries, and (ii) 65% of the voting equity interests in and 100% of the non-voting equity interests in certain of the Company's foreign subsidiaries, including the Company's Canadian subsidiaries. The Company also has incurred secured debt in connection with some of its European operations. The lenders under these European secured credit facilities also have liens on assets of certain of our European subsidiaries. As a result of these pledges and liens, if the Company fails to meet its payment or other obligations under any of its secured indebtedness, the lenders under the applicable credit agreement would be entitled to foreclose on substantially all of the Company's assets and liquidate these assets. Broadly , cross-default provisions, would permit lenders to cause such indebtedness to become due prior to its stated maturity in the event a default remains unremedied for a period of time under the terms of one or more financing agreements, a change in control or a fundamental change. As of December 31, 2012 and 201 1, the Company was in compliance with all material debt covenants. The Company’ s defined benefit plans at December 31, 2012 and 201 1 were underfunded by $ 163.7 million and $ 1 14.7 million , respectively . The Company recorded an after -tax loss of $ 21.4 million in 2012 and an after -tax loss of $ 15.6 million in 201 1 to accumulated other comprehensive income. The Company estimates its 2013 pension expense for its defined benefit pension plans will be approximately $21.5 million and cash contributions are expected to be approximately $ 9.7 million . In 2012 , pension expense was approximately $ 20.1 million and cash contributions were approximately $ 8.5 million . The Company anticipates being able to meet its obligations as they come due based on historical experience and the expected availability of funds under its current credit facilities. The Company’ s contractual obligations and commercial commitments as of December 31, 2012 (in millions of dollars) are summarized below: Payments Due by Period     Less than 1 – 3 4 – 5 After 5 Contractual obligations (1,2) : Total 1 Year Years Years Years Total debt (excluding capital leases) $ 1,445.9 $ 509.4 $ 156.9 $ 2.6 $ 777.0 Convertible debt at maturity (3) 283.4 20.4 — — 263.0 Capital leases 4.2 1.8 2.3 0.1 — Interest payments on Senior Floating Rate Notes 4.4 3.5 0.9 Interest payments on 0.875% Senior Convertible Notes 2.8 2.8 Interest payments on 5.75% Senior Notes 336.4 34.5 69.0 69.0 163.9 Interest payments on Subordinated Convertible Notes 240.1 19.3 38.6 38.6 143.6 Interest payments on Spanish term loans 0.6 0.5 0.1 Operating leases (4) 169.1 41.0 65.3 46.0 16.8 Purchase obligations (5) 37.7 37.7 — — — Preferred stock dividend payments 0.3 0.3 — — — Defined benefit pension obligations (6) 194.9 17.7 36.0 37.5 103.7 Postretirement benefits 5.9 0.9 1.4 1.2 2.4 Unrecognized tax benefits, including interest and penalties (7) — — — — — Total $ 2,725.7 $ 689.8 $ 370.5 $ 195.0 $ 1,470.4 (1) This table does not include interest payments on General Cable’ s revolving credit facilities because the future amounts are based on variable interest rates and the amount of the borrowings under the Revolving Credit Facility and Spanish Credit Facility fluctuate depending upon the Company’ s working capital requirements. (2) This table does not include derivative instruments as the ultimate cash outlays cannot be reasonably predicted. Refer to Note 10 - Financial Instruments and Item 7A - Quantitative and Qualitative Disclosures about Market Risk for additional information. (3) Represents the current debt discount on the Company’ s 0.875% Senior Convertible Notes and Subordinated Convertible Notes as a result of adopting provisions of ASC 470 - Debt . Refer to Note 2 - Summary of Significant Accounting Policies for additional information. T able of Contents