Short-Term Borrowings and Long-Term Debt

3 Months Ended

Mar. 31, 2015

Short-Term Borrowings and Long-Term Debt

13.	Short-Term Borrowings and Long-Term Debt

Short-term borrowings and long-term debt consist of the following:

	March 31,			December 31,
	2015			2014
Short-term borrowings
Commercial paper issuances	$	271.5		$	143.3
Various debt due to international banks		1.9			3.4
Total short-term borrowings	$	273.4		$	146.7

Long-term debt
2.875% Senior notes due October 1, 2022	$	400.0		$	400.0
Less: Discount		(0.3	)		(0.3	)
3.35% Senior notes due December 15, 2015		250.0			250.0
Less: Discount		(0.1	)		(0.1	)
2.45% Senior notes due December 15, 2019		300.0			300.0
Less: Discount		(0.1	)		(0.2	)
Fair value adjustment related to hedged fixed rate debt instrument		3.9			(0.9	)
Total long-term debt		953.4			948.5
Less: current maturities		(249.9	)		(249.9	)
Net long-term debt	$	703.5		$	698.6

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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