SHORT-TERM DEBT AND LINES OF CREDIT

3 Months Ended

Mar. 31, 2023

Short-Term Debt [Abstract]

SHORT-TERM DEBT AND LINES OF CREDIT

SHORT-TERM DEBT AND LINES OF CREDIT

The following table shows our short-term borrowings and their corresponding weighted-average interest rates:

(in millions, except percentages)	March 31, 2023			December 31, 2022
Commercial paper
Amount outstanding	$	45.0		$	194.9
Weighted-average interest rate on amounts outstanding	5.08		%	4.60		%

Our average amount of commercial paper borrowings based on daily outstanding balances during the three months ended March 31, 2023 was $125.1 million with a weighted-average interest rate during the period of 4.74%.

The information in the table below relates to our revolving credit facility used to support our commercial paper borrowing program, including available capacity under this facility:

(in millions)	Maturity	March 31, 2023
Revolving credit facility	September 2026	$	400.0
Less:
Letters of credit issued inside credit facility		$	1.3
Commercial paper outstanding		45.0
Available capacity under existing credit facility		$	353.7