Footnote 10 — Debt

Debt comprised of the following as of the dates indicated (in millions):


	September 30, 2017			December 31, 2016
2.05% senior notes due 2017	$	349.9		$	349.4
6.25% senior notes due 2018		—			249.8
2.15% senior notes due 2018		299.4			298.9
2.60% senior notes due 2019		266.5			995.0
2.875% senior notes due 2019		348.5			347.9
4.70% senior notes due 2020		304.2			380.0
3.15% senior notes due 2021		993.1			991.7
3.75% senior notes due 2021		368.1			326.9
4.00% senior notes due 2022		248.7			248.5
3.85% senior notes due 2023		1,738.4			1,737.0
5.00% senior notes due 2023		312.6			314.1
4.00% senior notes due 2024		495.7			495.2
3.90% senior notes due 2025		297.1			296.8
4.20% senior notes due 2026		1,982.3			1,981.0
5.375% senior notes due 2036		494.9			494.7
5.50% senior notes due 2046		1,725.9			1,725.7
Term loan		299.7			399.5
Commercial paper		116.0			—
Receivables facilities		768.5			187.4
Other debt		65.9			73.3

Total debt		11,475.4			11,892.8
Short-term debt and current portion of long-term debt		(1,291.0	)		(601.9	)

Long-term debt	$	10,184.4		$	11,290.9

Senior Notes

In March 2017, the Company commenced cash tender offers (the “Tender Offers”) totaling approximately $1.06 billion for any and all of its 6.25% senior notes due 2018 and up to a maximum aggregate principal amount of certain of its other senior notes. In March 2017, pursuant to the Tender Offers the Company repurchased approximately $63 million aggregate principal amount of its 6.25% senior notes due 2018, approximately $733 million aggregate principal amount of its 2.6% senior notes due 2019 and approximately $76 million aggregate principal amount of its 4.7% senior notes due 2020 for total consideration, excluding accrued interest, of approximately $897 million. As a result of these debt extinguishments, the Company recorded a loss on the extinguishment of debt of $27.8 million during the first quarter of 2017, primarily comprised of prepayment premiums and a non-cash charge due to the write-off of deferred debt issuance costs.

In April 2017, the Company redeemed the remaining approximately $187 million aggregate principal amount of its 6.25% senior notes due 2018 for total consideration, excluding accrued interest of approximately $195 million. As a result of this debt extinguishment, the Company recorded a loss on the extinguishment of debt of $4.5 million during the second quarter of 2017, primarily comprised of prepayment premiums, partially offset by the write-off of a deferred gain on previously terminated interest rate swaps.

Net Investment Hedge

The Company has designated the €300.0 million principal balance of the 3.75% senior notes due October 2021 as a net investment hedge of the foreign currency exposure of its net investment in certain Euro-functional currency subsidiaries with Euro-denominated net assets. At September 30, 2017, $14.0 million of deferred losses have been recorded in AOCI.

The fair values of the Company’s senior notes are based on quoted market prices and are as follows (in millions):


	September 30, 2017				December 31, 2016
	Fair Value		Book Value		Fair Value		Book Value
Senior notes	$	11,089.9	$	10,225.2	$	11,979.2	$	11,234.1

The carrying amounts of all other significant debt approximates fair value.