Long-Term Debt And Notes Payable (Tables)

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Components of Debt

The following table summarizes the Company’s debt as of December 31, 2016 and 2015:

(in millions)	December 31, 2016			December 31, 2015
Long-term debt consists of:
2.75% notes due December 2018
Principal amount	$	250.0		$	250.0
Less debt issuance costs (See Note 1)	(0.8		)	(1.2		)
Carrying Value	$	249.2		$	248.8
4.45% notes due December 2023
Principal amount	$	300.0		$	300.0
Less debt issuance costs (See Note 1)	(1.9		)	(2.1		)
Carrying Value	$	298.1		$	297.9
6.55% notes due November 2036
Principal Amount	$	200.0		$	200.0
Less unamortized discount	(0.7		)	(0.7		)
Less debt issuance costs (See Note 1)	(1.3		)	(1.4		)
Carrying Value	$	198.0		$	197.9
Total long-term debt	$	745.3		$	744.6
Short-term borrowings consists of:
Commercial paper	$	—		$	49.0
Other	—			0.6
Total short-term borrowings	$	—		$	49.6

Capitalization of Long-Term Debt

(in millions)	December 31, 2016
Long-term debt	$	745.3
Total indebtedness	$	745.3
Total shareholders’ equity	1,133.8
Capitalization	$	1,879.1
Total indebtedness to capitalization	40		%