Short-Term Borrowings and Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Components of Short-Term Borrowings and Long-Term Debt

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

	December 31,			December 31,
	2015			2014
Short-term borrowings
Commercial paper issuances	$	354.5		$	143.3
Various debt due to international banks		2.7			3.4
Total short-term borrowings	$	357.2		$	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		0.0			250.0
Less: Discount		0.0			(0.1	)
2.45% Senior notes due December 15, 2019		300.0			300.0
Less: Discount		(0.1	)		(0.2	)
Debt issuance costs, net(1)		(8.1	)		(8.6	)
Fair value adjustment related to hedged fixed rate debt instrument		1.3			(0.9	)
Total long-term debt		692.8			939.9
Less: current maturities		0.0			(249.9	)
Net long-term debt	$	692.8		$	690.0

⁽¹⁾ The Company retrospectively adopted new accounting guidance requiring debt issuance costs to be presented as a direct reduction of the associated liability.  See Note 1 for further details.