Financing Arrangements (Tables)

12 Months Ended

Nov. 30, 2013

Our outstanding debt was as follows at November 30:



(millions)	2013			2012
Short-term borrowings
Commercial paper	$	200.3		$	138.4
Other	11.3			1.9
	$	211.6		$	140.3
Weighted-average interest rate of short-term borrowings at year-end	0.7		%	0.4		%
Long-term debt
5.25% notes due 2013⁽¹⁾	—			$	250.0
5.20% notes due 2015⁽²⁾	$	200.0		200.0
5.75% notes due 2017⁽³⁾	250.0			250.0
3.90% notes due 2021⁽⁴⁾	250.0			250.0
3.50% notes due 2023(5)	250.0			—
7.63%–8.12% notes due 2024	55.0			55.0
Other	10.8			13.6
Unamortized discounts and fair value adjustments	5.7			12.9
	1,021.5			1,031.5
Less current portion	2.5			252.3
	$	1,019.0		$	779.2


(1)	Interest rate swaps, settled upon the issuance of these notes in 2008, effectively fixed the interest rate on the $250 million notes at a weighted-average fixed rate of 5.54%.


(2)	The fixed interest rate on $100 million of the 5.20% notes due in 2015 is effectively converted to a variable rate by interest rate swaps through 2015. Net interest payments are based on 3 month LIBOR minus 0.05% during this period (our effective rate as of November 30, 2013 was 0.21%).


(3)	Interest rate swaps, settled upon the issuance of these notes in 2007, effectively fixed the interest rate on the $250 million notes at a weighted-average fixed rate of 6.25%.


(4)	Interest rate swaps, settled upon the issuance of these notes in 2011, effectively fixed the interest rate on the $250 million notes at a weighted-average fixed rate of 4.01%.


(5)	Interest rate swaps, settled upon the issuance of these notes in 2013, effectively fixed the interest rate on the $250 million notes at a weighted-average fixed rate of 3.30%.

Maturities of long-term debt during the years subsequent to November 30, 2013 are as follows (in millions):

Future annual fixed rental payments for the years ending November 30 are as follows (in millions):