Footnote 11 — Debt

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


	March 31, 2018			December 31, 2017
2.15% senior notes due 2018		299.7			299.5
2.60% senior notes due 2019		266.8			266.7
2.875% senior notes due 2019		348.8			348.6
4.70% senior notes due 2020		304.4			304.3
3.15% senior notes due 2021		994.0			993.6
3.75% senior notes due 2021		382.2			373.2
4.00% senior notes due 2022		248.8			248.8
3.85% senior notes due 2023		1,739.3			1,738.8
5.00% senior notes due 2023		311.5			312.1
4.00% senior notes due 2024		496.0			495.8
3.90% senior notes due 2025		297.3			297.2
4.20% senior notes due 2026		1,983.1			1,982.7
5.375% senior notes due 2036		495.0			495.0
5.50% senior notes due 2046		1,726.1			1,726.0
Term loan		299.8			299.8
Commercial paper		700.5			—
Receivables facilities		198.5			298.3
Other debt		64.3			72.0

Total debt		11,156.1			10,552.4
Short-term debt and current portion of long-term debt		(1,532.6	)		(662.8	)

Long-term debt	$	9,623.5		$	9,889.6

Net Investment Hedge

The Company has designated the €300 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 March 31, 2018, $29.3 million of deferred losses have been recorded in AOCI. See Footnote 12 for disclosures regarding the Company’s derivative financial instruments.

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


	March 31, 2018				December 31, 2017
	Fair Value		Book Value		Fair Value		Book Value
Senior notes	$	10,087.2	$	9,893.0	$	10,688.5	$	9,882.3

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