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Debt
3 Months Ended
Mar. 31, 2012
Debt [Abstract]  
Debt [Text Block]
Debt
Lines of Credit
We have committed and uncommitted lines of credit. We have a $2.5 billion committed line of credit ("Credit Agreement") with a consortium of banks expiring on October 12, 2016. We have the ability to classify borrowings under the Credit Agreement as long-term. The Credit Agreement provides support for up to $1.5 billion of commercial paper issuances, as well
as back-up liquidity in the event that any of our convertible notes are put back to us. The issuance of commercial paper reduces the amount available under the Credit Agreement. At March 31, 2012, there were no outstanding commercial paper issuances or borrowings under the Credit Agreement. At March 31, 2012 and December 31, 2011, we had various uncommitted lines of credit aggregating $765.7 million and $758.3 million, respectively.
Our available and unused lines of credit at March 31, 2012 and December 31, 2011 were (in millions):
 
2012
 
2011
 
 
 
 
 
 
 
 
Credit Agreement
$
2,500.0

 
$
2,500.0

Uncommitted lines of credit
765.7

 
758.3

 
 
 
 
 
 
 
 
Available and unused lines of credit
$
3,265.7

 
$
3,258.3

 
 
 
 

Short-Term Borrowings
Short-term borrowings of $11.7 million and $9.5 million at March 31, 2012 and December 31, 2011, respectively, are primarily comprised of bank overdrafts and credit lines of our international subsidiaries. The bank overdrafts and credit lines are treated as unsecured loans pursuant to the bank agreements supporting the facilities.
Long-Term Notes Payable
Long-term notes payable at March 31, 2012 and December 31, 2011 were (in millions):
 
2012
 
2011
 
 
 
 
 
 
 
 
5.90% Senior Notes due April 15, 2016
$
1,000.0

 
$
1,000.0

6.25% Senior Notes due July 15, 2019
500.0

 
500.0

4.45% Senior Notes due August 15, 2020
1,000.0

 
1,000.0

Other notes and loans
0.5

 
1.3

 
 
 
 
 
 
 
 
 
2,500.5

 
2,501.3

Unamortized discount on Senior Notes
(7.3
)
 
(7.6
)
Deferred gain from termination of interest rate swaps on Senior Notes due 2016
28.6

 
30.5

 
 
 
 
 
 
 
 
 
2,521.8

 
2,524.2

Less current portion
0.4

 
0.7

 
 
 
 
 
 
 
 
Long-term notes payable
$
2,521.4

 
$
2,523.5

 
 
 
 

Convertible Debt
Convertible debt at March 31, 2012 and December 31, 2011 was (in millions):
 
2012
 
2011
 
 
 
 
 
 
 
 
Convertible Notes - due July 31, 2032
$
252.7

 
$
252.7

Convertible Notes - due June 15, 2033
0.1

 
0.1

Convertible Notes - due July 1, 2038
406.6

 
406.6

 
 
 
 
 
 
 
 
 
659.4

 
659.4

Less current portion

 

 
 
 
 
 
 
 
 
Convertible debt
$
659.4

 
$
659.4

 
 
 
 

The next date on which holders of our 2032 Notes can put their notes back to us for cash is July 31, 2012. The next date on which holders of our 2038 Notes can put their notes back to us for cash is June 17, 2013.