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

9 Months Ended

Sep. 30, 2021

Components of Short-Term Borrowings and Long-Term Debt

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

	September 30,			December 31,
	2021			2020
Short-term borrowings
Commercial paper issuances	$	279.7		$	349.0
Various debt due to international banks		0.0			2.4
Total short-term borrowings	$	279.7		$	351.4

Long-term debt
Term loan due May 1, 2022⁽¹⁾		0.0			300.0
2.45% Senior notes due August 1, 2022		300.0			300.0
Less: Discount		(0.1	)		(0.1	)
2.875% Senior notes due October 1, 2022		400.0			400.0
Less: Discount		0.0			(0.1	)
3.15% Senior notes due August 1, 2027		425.0			425.0
Less: Discount		(0.3	)		(0.3	)
3.95% Senior notes due August 1, 2047		400.0			400.0
Less: Discount		(2.5	)		(2.6	)
Debt issuance costs, net		(7.7	)		(9.4	)
Total long-term debt		1,514.4			1,812.5
Less: Current maturities		(299.6	)		0.0
Net long-term debt	$	1,214.8		$	1,812.5

⁽¹⁾

In June 2021, the Company repaid $100.0 principal of the $300.0 term loan due May 1, 2022, with the remaining $200.0 principal repaid in early July 2021. The term loan was repaid with proceeds from commercial paper borrowings and cash on hand.