Debt (Tables)

12 Months Ended

Dec. 31, 2018

Debt consisted of the following at December 31:



(DOLLARS IN THOUSANDS)	Effective Interest Rate			2018			2017
Senior notes - 2007⁽¹⁾	6.40% - 6.82%			$	—		$	249,765
2020 Notes⁽¹⁾	3.69	%		298,499			—
2021 Euro Notes⁽¹⁾	0.82	%		337,704			—
2023 Notes⁽¹⁾	3.30	%		298,698			298,670
2024 Euro Notes⁽¹⁾	1.88	%		564,034			589,848
2026 Euro Notes⁽¹⁾	1.93	%		899,886			—
2028 Notes⁽¹⁾	4.57	%		396,377			—
2047 Notes⁽¹⁾	4.44	%		493,151			492,819
2048 Notes⁽¹⁾	5.12	%		785,788			—
Term Loan⁽¹⁾	3.65	%		349,163			—
Amortizing Notes⁽¹⁾	5.81	%		125,007			—
Amended Credit Facility	LIBOR + 1.125%		(2)	—			—
Bank overdrafts and other				4,695			7,993
Deferred realized gains on interest rate swaps				57			57
				$	4,553,059		$	1,639,152
Less: Short term borrowings⁽³⁾				(48,642		)	(6,966		)
				$	4,504,417		$	1,632,186

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(1)	Amount is net of unamortized discount and debt issuance costs.


(2)	Represents the rate on drawn down and outstanding balances. Deferred debt issuance costs are immaterial.


(3)	Includes bank borrowings, commercial paper, overdrafts and current portion of long-term debt.

However, no make-whole premium will be paid for redemptions of each note on or after the following date:

The following table shows the contractual maturities of our long-term debt as of December 31, 2018.