SHORT-TERM AND LONG-TERM DEBT (Tables)

3 Months Ended

Mar. 31, 2017

Debt Disclosure [Abstract]

Schedule of Short-Term Debt Instruments

The following summarizes information concerning short-term debt (in thousands of dollars):

	March 31, 2017		December 31, 2016
Outstanding lines of credit	$	16,861	$	16,392
Outstanding commercial paper	404,694		369,748
	$	421,555	$	386,140

Schedule of Long-Term Debt Instruments

Long-term debt consisted of the following (in thousands of dollars):

	March 31, 2017			December 31, 2016
4.60% senior notes due 2045	$	1,000,000		$	1,000,000
3.75% senior notes due 2046	400,000			400,000
British pound term loan and revolving credit facility	185,666			187,506
Euro term loan and revolving credit facility	122,463			120,900
Canadian dollar revolving credit facility	105,176			100,521
Other	73,309			71,109
	1,886,614			1,880,036
Less current maturities	(20,069		)	(19,966		)
Debt issuance costs and discounts	(18,828		)	(19,124		)
	$	1,847,717		$	1,840,946