Financing (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Components of Debt

Our debt as of December 31, 2020 and 2019 consisted of the following:

(in millions) December 31,	2020		2019
Commercial paper	$	27.2	$	149.4
364-Day Credit Agreement	348.5		—
Total short-term borrowings	$	375.7	$	149.4
4.45% notes due December 2023	$	299.1	$	298.9
6.55% notes due November 2036	198.4		198.3
4.20% notes due March 2048	346.2		346.1
Other deferred financing costs associated with credit facilities	(0.8)		(1.3)
Total long-term debt	$	842.9	$	842.0
Debt discounts and debt issuance costs totaled $6.6 and $6.7 as of December 31, 2020 and 2019, respectively and have been netted against the aggregate principal amounts of the related debt in the components of the debt table above.

Capitalization of Long-Term Debt

(in millions)
Short-term borrowings	$	375.7
Long-term debt	842.9
Total indebtedness	1,218.6
Total shareholders’ equity	1,528.9
Capitalization	$	2,747.5
Total indebtedness to capitalization	44.4		%