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Debt (Tables)
9 Months Ended
Sep. 30, 2015
Debt Disclosure [Abstract]  
Debt Maturing within One Year
Debt maturing within one year:
(in Millions)
September 30, 2015
 
December 31, 2014
Short-term foreign debt (1)
$
89.8

 
$
36.6

Commercial paper (2)
30.0

 
486.6

Total short-term debt
$
119.8

 
$
523.2

Current portion of long-term debt
1.4

 
2.0

Short-term debt and current portion of long-term debt
$
121.2

 
$
525.2


____________________
(1)
At September 30, 2015, the average interest rate on the borrowings was 10.7%. We often provide parent-company guarantees to lending institutions that extend credit to our foreign subsidiaries.
(2)
At September 30, 2015, the average interest rate on the borrowings was 0.52%.
Schedule of long-term debt
Long-term debt:
(in Millions)
September 30, 2015
 
 
 
 
Interest Rate
Percentage
 
Maturity
Date
 
September 30, 2015
 
December 31, 2014
Pollution control and industrial revenue bonds (less unamortized discounts of $0.2 and $0.2, respectively)
0.2-6.5%
 
2021-2035
 
$
141.5

 
$
141.5

Senior notes (less unamortized discount of $1.7 and $1.9, respectively)
3.95-5.2%
 
2019-2024
 
998.3

 
998.1

Term Loan Facility
1.4%
 
2020
 
900.0

 

Credit Facility (1)
2.6%
 
2019
 

 

Foreign debt
3.3%
 
2015-2024
 
10.1

 
15.8

Total long-term debt

 

 
$
2,049.9

 
$
1,155.4

Less: debt maturing within one year

 

 
1.4

 
2.0

Total long-term debt, less current portion

 

 
$
2,048.5

 
$
1,153.4

____________________
(1)
Letters of credit outstanding under our Credit Facility totaled $50.6 million and available funds under this facility were $1,419.4 million at September 30, 2015, which reflects borrowings under our commercial paper program.