Long-term and Short-term Debt

12 Months Ended

Sep. 30, 2011

Long-term and Short-term Debt [Abstract]

Long-term and Short-term Debt

6. Long-term and Short-term Debt

Long-term debt consists of (in millions):

	September 30,
	2011			2010
5.65% notes, payable in 2017	$	250.0		$	250.0
6.70% debentures, payable in 2028		250.0			250.0
6.25% debentures, payable in 2037		250.0			250.0
5.20% debentures, payable in 2098		200.0			200.0
Unamortized discount and other		(45.0	)		(45.1	)
Long-term debt	$	905.0		$	904.9

On March 14, 2011, we replaced our former three-year $267.5 million unsecured revolving credit facility expiring in March 2012 and our former 364-day $300.0 million unsecured revolving credit facility expiring in March 2011 with a new four-year $750.0 million unsecured revolving credit facility. On March 15, 2010, we entered into a 364-day $300.0 million unsecured revolving credit facility. We have not drawn down under any of these credit facilities at September 30, 2011 or 2010. Borrowings under these credit facilities bear interest based on short-term money market rates in effect during the period the borrowings are outstanding. The terms of these credit facilities contain covenants under which we would be in default if our debt-to-total-capital ratio was to exceed 60 percent. We were in compliance with all covenants under these credit facilities at September 30, 2011 and 2010. Separate short-term unsecured credit facilities of approximately $127.8 million at September 30, 2011 were available to non-U.S. subsidiaries. There were no significant commitment fees or compensating balance requirements under any of our credit facilities. Borrowings under our credit facilities during fiscal 2011 and 2010 were not significant.

Our short-term debt obligations primarily relate to commercial paper borrowings. At September 30, 2011 and 2010 we had no commercial paper borrowings outstanding.

Interest payments were $60.1 million during 2011, $59.4 million during 2010 and $62.8 million during 2009.