Financing (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Components of Debt

Our debt as of December 31, 2021 and 2020 consisted of the following:

(in millions) December 31,	2021		2020
Commercial paper	$	—	$	27.2
364-Day Credit Agreement	—		348.5
Total short-term borrowings	$	—	$	375.7
4.45% notes due December 2023	$	299.4	$	299.1
6.55% notes due November 2036	198.5		198.4
4.20% notes due March 2048	346.3		346.2
Other deferred financing costs associated with credit facilities	(1.8)		(0.8)
Total long-term debt	$	842.4	$	842.9
Debt discounts and debt issuance costs totaled $5.7 million and $6.6 million as of December 31, 2021 and 2020, 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)
Total long-term debt	$	842.4
Total shareholders’ equity	1,832.3
Capitalization	$	2,674.7
Total indebtedness to capitalization	31.5		%