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INDEBTEDNESS (Tables)

3 Months Ended

Mar. 31, 2016

Summary of Total Indebtedness

				March 31, 2016
					Principal Amount		Fair Value of Interest Rate Swap⁽¹⁾		Unamortized (Discount) Premium		Unamortized Debt Issuance Costs⁽²⁾			Carrying Value
Notes Payable:
	6.06% Series 2007-1 Notes due 2017			$	300.0	$	-	$	-	$	(0.1)		$	299.9
	5.50% 2010 Senior Notes, due 2020				500.0		22.1		(1.6)		(1.9)			518.6
	4.50% 2012 Senior Notes, due 2022				500.0		-		(2.7)		(2.4)			494.9
	4.875% 2013 Senior Notes, due 2024				500.0		-		(2.2)		(3.0)			494.8
	2.75% 2014 Senior Notes (5-Year), due 2019				450.0		10.2		(0.5)		(2.2)			457.5
	5.25% 2014 Senior Notes (30-Year), due 2044				600.0		-		3.4		(6.1)			597.3
	1.75% 2015 Senior Notes, due 2027				569.8		-		-		(4.2)			565.6
Total long-term debt				$	3,419.8	$	32.3	$	(3.6)	$	(19.9)		$	3,428.6
				December 31, 2015
					Principal Amount		Fair Value of Interest Rate Swap⁽¹⁾		Unamortized (Discount) Premium		Unamortized Debt Issuance Costs⁽²⁾			Carrying Value
Notes Payable:
	6.06% Series 2007-1 Notes due 2017			$	300.0	$	-	$	-	$	(0.2)		$	299.8
	5.50% 2010 Senior Notes, due 2020				500.0		9.4		(1.6)		(2.0)			505.8
	4.50% 2012 Senior Notes, due 2022				500.0		-		(2.8)		(2.5)			494.7
	4.875% 2013 Senior Notes, due 2024				500.0		-		(2.3)		(3.1)			494.6
	2.75% 2014 Senior Notes (5-Year), due 2019				450.0		2.3		(0.5)		(2.4)			449.4
	5.25% 2014 Senior Notes (30-Year), due 2044				600.0		-		3.4		(6.2)			597.2
	1.75% 2015 Senior Notes, due 2027				543.1		-		-		(4.0)			539.1
Total long-term debt				$	3,393.1	$	11.7	$	(3.8)	$	(20.4)		$	3,380.6
⁽¹⁾ The Company has entered into interest rate swaps on the 2010 Senior Notes and the 2014 Senior Notes (5-Year) which are more fully discussed in Note 7 above.
⁽²⁾Pursuant to ASU No. 2015-03, unamortized debt issuance costs are presented as a reduction to the carrying value of the notes payable. See Note 1 for additional discussion.

Summary of Components of Interest as Presented in Consolidated Statements of Operations

		Three Months Ended
		March 31,
		2016			2015
Income		$	2.9		$	1.9
Expense on borrowings			(34.6)			(28.3)
UTPs and other tax related liabilities			(2.8)			(3.2)
Capitalized			0.4			0.3
Total		$	(34.1)		$	(29.3)

Interest Paid

							Three Months Ended
							March 31,
							2016			2015
Interest paid							$	67.1		$	48.2

Fair Value and Carrying Value of Long-Term Debt

	March 31, 2016						December 31, 2015
	Carrying Amount			Estimated Fair Value			Carrying Amount			Estimated Fair Value
Series 2007-1 Notes	$	299.9		$	318.9		$	299.8		$	320.6
2010 Senior Notes		518.6			560.6			505.8			551.2
2012 Senior Notes		494.9			548.1			494.7			530.0
2013 Senior Notes		494.8			553.9			494.6			533.8
2014 Senior Notes (5-Year)		457.5			461.5			449.4			454.3
2014 Senior Notes (30-Year)		597.3			668.3			597.2			617.7
2015 Senior Notes		565.6			575.8			539.1			520.2
Total	$	3,428.6		$	3,687.1		$	3,380.6		$	3,527.8