Debt and Other Financing Arrangements (Tables)

9 Months Ended

Sep. 30, 2017

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

	Effective Interest Rate at September 30,		September 30,			December 31,
(Dollars in millions)	2017		2017			2016
Commercial Paper	(0.20	)%	$	1,299.5		$	953.3
Term Loan	2.32	%	750.0			825.0
1.85% 5-Year Senior Notes, Due 1/15/2018			—			500.0
Floating Rate 2-Year Senior Notes, Due 8/9/2018 (euro-denominated)	0.37	%	708.8			631.0
2.15% 3-Year Senior Notes, Due 12/14/2018	2.35	%	450.0			450.0
2.40% 5-Year Senior Notes, Due 2/1/2019	2.59	%	900.0			900.0
Floating Rate 2-Year Senior Notes, Due 7/24/2019 (euro-denominated)	0.09	%	590.7			—
6.00% 10-Year Senior Notes, Due 3/1/2020	2.98	%	750.0			750.0
4.70% 10-Year Senior Notes, Due 5/1/2020	4.23	%	300.0			300.0
1.50% 5-Year Senior Notes, Due 12/1/2020 (euro-denominated)	1.62	%	502.1			447.0
5.00% 10-Year Senior Notes, Due 1/15/2021	3.24	%	400.0			400.0
4.50% 10-Year Senior Notes, Due 3/1/2021	4.97	%	1,000.0			1,000.0
3.60% 10-Year Senior Notes, Due 8/15/2021	4.68	%	1,100.0			1,100.0
3.30% 7-Year Senior Notes, Due 2/15/2022	3.43	%	800.0			800.0
2.15% 7-Year Senior Notes, Due 7/21/2022 (euro-denominated)	2.28	%	590.7			525.9
3.15% 10-Year Senior Notes, Due 1/15/2023	3.30	%	800.0			800.0
3.00% 7-Year Senior Notes, Due 4/15/2023	4.90	%	1,000.0			1,000.0
4.15% 10-Year Senior Notes, Due 2/1/2024	4.16	%	1,000.0			1,000.0
0.75% 8-Year Senior Notes, Due 9/12/2024 (euro-denominated)	0.94	%	1,181.4			1,051.7
2.00% 10-Year Senior Notes, Due 4/15/2025 (euro-denominated)	2.10	%	756.1			673.1
3.65% 10-Year Senior Notes, Due 12/15/2025	3.77	%	350.0			350.0
1.40% 8.5-Year Senior Notes, Due 1/23/2026 (euro-denominated)	1.53	%	827.0			—
2.95% 10-Year Senior Notes, Due 9/19/2026	3.19	%	1,200.0			1,200.0
1.45% 10-Year Senior Notes, Due 3/16/2027 (euro-denominated)	1.66	%	590.7			—
3.20% 10-Year Senior Notes, Due 8/15/2027	3.38	%	750.0			—
1.375% 12-Year Senior Notes, Due 9/12/2028 (euro-denominated)	1.46	%	708.8			631.0
1.95% 12-Year Senior Notes, Due 7/24/2029 (euro-denominated)	2.08	%	827.0			—
2.875% 20-Year Senior Notes, Due 7/24/2037 (euro-denominated)	2.94	%	827.0			—
5.30% 30-Year Senior Notes, Due 2/1/2044	5.37	%	400.0			400.0
4.10% 30-Year Senior Notes, Due 8/15/2047	4.23	%	750.0			—
Other			21.2			13.0
Total Borrowings at Par Value			22,131.0			16,701.0
Fair Value Hedge Accounting Adjustments			(43.2		)	(49.3		)
Unamortized Premium, Net			3.3			52.2
Unamortized Debt Issuance Costs			(98.4		)	(76.0		)
Total Borrowings at Carrying Value			21,992.7			16,627.9
Less: Short-term Obligations and Current Maturities			2,762.3			1,255.5
Long-term Obligations			$	19,230.4		$	15,372.4

Schedule of Derivative Instruments [Table Text Block]

The following table summarizes the outstanding interest rate swap arrangements on the company's senior notes at September 30, 2017:

	Aggregate Notional Amount		Pay Rate as of
(Dollars in millions)		Pay Rate	September 30, 2017		Receive Rate
4.50% Senior Notes due 2021	1,000.0	1-month LIBOR + 3.4420%	4.6792	%	4.50	%
3.60% Senior Notes due 2021	1,100.0	1-month LIBOR + 2.5150%	3.7494	%	3.60	%
3.00% Senior Notes due 2023	1,000.0	1-month LIBOR + 1.7640%	2.9984	%	3.00	%