DEBT AND INTEREST (Tables)

12 Months Ended

Dec. 31, 2020

DEBT AND INTEREST

Schedule of short-term debt obligations

	2020				2019
			Average				Average
	Carrying		Interest		Carrying		Interest
(millions)	Value		Rate		Value		Rate
Short-term debt
Commercial paper		$-	-	%		$55.1	(0.30)	%
Notes payable		15.5	7.07	%		24.5	3.53	%
Long-term debt, current maturities		1.8				300.9
Total		$17.3				$380.5

Schedule of long-term debt obligations including current maturities

		2020								2019
				Stated		Effective				Stated		Effective
	Maturity	Carrying		Interest		Interest		Carrying		Interest		Interest
(millions)	by Year	Value		Rate		Rate		Value		Rate		Rate
Long-term debt
Public notes (2020 principal amount)
Five year 2015 senior notes ($300 million)	2020		-	-	%	-	%		300.0	2.25	%	2.79	%
Ten year 2011 senior notes ($1.02 billion)	2021		-	-	%	-	%		1,018.3	4.35	%	4.43	%
Five year 2017 senior notes ($500 million)	2022		498.6	2.38	%	2.55	%		497.8	2.38	%	2.55	%
Seven year 2016 senior notes ($400 million)	2023		399.0	3.25	%	3.49	%		398.5	3.25	%	3.49	%
Seven year 2016 senior notes (€575 million)	2024		682.0	1.00	%	1.18	%		628.4	1.00	%	1.10	%
Ten year 2015 senior notes (€575 million)	2025		682.9	2.63	%	2.85	%		630.0	2.63	%	2.96	%
Ten year 2016 senior notes ($750 million)	2026		745.3	2.70	%	2.93	%		744.5	2.70	%	2.93	%
Ten year 2017 senior notes ($500 million)	2027		496.0	3.25	%	3.37	%		495.4	3.25	%	3.37	%
Ten year 2020 senior notes ($750 million)	2030		765.2	4.80	%	4.64	%		-	-	%	-	%
Ten year 2020 senior notes ($600 million)	2031		594.4	1.30	%	1.34	%		-	-	%	-	%
Thirty year 2011 senior notes ($458 million)	2041		452.2	5.50	%	5.56	%		451.9	5.50	%	5.56	%
Thirty year 2016 senior notes ($250 million)	2046		246.4	3.70	%	3.76	%		246.2	3.70	%	3.76	%
Thirty year 2017 senior notes ($700 million)	2047		611.9	3.95	%	4.16	%		610.4	3.95	%	4.15	%
Thirty year 2020 senior notes ($500 million)	2050		490.1	2.13	%	2.15	%		-	-	%	-	%
Private note (2020 principal amount)
Series B private placement senior notes ($250 million)	2023		-	-	%	-	%		249.6	4.32	%	4.36	%
Finance lease obligations and other			7.1						3.0
Total debt			6,671.1						6,274.0
Long-term debt, current maturities			(1.8)						(300.9)
Total long-term debt			$6,669.3						$5,973.1

Schedule of aggregate annual maturities of long-term debt

(millions)
2021	$ 2
2022	502
2023	400
2024	683
2025	683

Schedule of interest expense and interest income

(millions)	2020		2019		2018
Interest expense		$304.8		$214.4		$235.5
Interest income		(14.6)		(23.7)		(14.4)
Interest expense, net		$290.2		$190.7		$221.1