Financing

3 Months Ended

Mar. 31, 2020

Our debt consisted of the following:



(in millions)	March 31, 2020			December 31, 2019

Commercial paper	$	333.5		$	149.4
Revolving credit agreement borrowings	45.2			—
Total short-term borrowings	$	378.7		$	149.4

4.45% notes due December 2023	$	298.9		$	298.9
6.55% notes due November 2036	198.3			198.3
4.20% notes due March 2048	346.1			346.1
Other deferred financing costs associated with credit facilities	(1.1		)	(1.3		)
Total long-term debt	$	842.2		$	842.0
_{Debt discounts and debt issuance costs totaled $6.7 as of each of March 31, 2020 and December 31, 2019, and have been netted against the aggregate principal amounts of the related debt in the components of the debt table above.}

As of March 31, 2020 and December 31, 2019, there were $333.5 million and $149.4 million, respectively, of outstanding borrowings under the commercial paper program. We issued $100 million and $150 million of commercial paper to fund the acquisitions of I&S and Cummins-Allison, respectively. See discussion in Note 2, “Acquisitions” for further details. Amounts available under the commercial paper program may be borrowed, repaid and re-borrowed from time to time, with the aggregate principal amount of the notes outstanding under the commercial paper program at any time not to exceed $550 million.

We also have a revolving credit agreement permitting borrowings of up to $550 million which expires in December 2022. The undrawn portion of this revolving credit agreement is also available to serve as a backstop facility for the issuance of commercial paper. As of March 31, 2020, there was $45.2 million outstanding related to borrowings of $67 million used to fund the I&S acquisition in January 2020. See discussion in Note 2, “Acquisitions” for further details. As of December 31, 2019, there were no outstanding borrowings.