LONG-TERM DEBT

Debt consisted of the following at December 31,



(dollars in millions)	2015			2014
Commercial paper payable through 2015	$	329.5		$	317.3
6.8% notes payable in 2019	400.0			400.0
4.5% notes payable in 2021	400.0			400.0
Notes payable in 2022	200.0			200.0
Other debt, including debt from subsidiaries	30.5			—
Interest rate swap of 2021 notes (See Note 8)	5.2			1.0
Unamortized discounts and debt issuance costs	(5.5		)	(6.7		)

Total debt	1,359.7			1,311.6
Less current portion	5.8			—
Total long-term debt	$	1,353.9		$	1,311.6

Commercial paper has been classified as long-term debt to the extent of available long-term backup credit agreements, in accordance with the Company’s intent and ability to refinance such obligations on a long-term basis. The weighted-average interest rate of commercial paper outstanding at December 31, 2015, was 0.8 percent. The maximum amount of commercial paper outstanding during 2015 was $400.3 million, and the average outstanding during 2015 was $330.3 million. The weighted-average interest rate during 2015 was 0.5 percent.

As of December 31, 2015, the Company had available from its banks a $1.1 billion revolving credit facility. This credit facility is used principally as back-up for the Company’s commercial paper program and expires on August 12, 2018. The revolving credit facility is supported by a group of major U.S. and international banks. Covenants imposed by the revolving credit facility include limits on the sale of businesses, minimum net worth calculations, and a maximum ratio of debt to total capitalization. The revolving credit agreement includes a combined $100 million multicurrency limit to support the financing needs of the Company’s international subsidiaries.

Public notes totaling $400 million matured in August 2014. On July 15, 2014, the Company further amended its revolving credit facility to provide for a $200 million term loan. This term loan has an eight-year term and a variable rate based on the one-month London Interbank Offered Rate (LIBOR) plus a fixed spread. The Company used this term loan combined with commercial paper borrowings to refinance the $400 million public notes which matured in August 2014.

The scheduled maturities of the Company's long-term debt obligations for the next five years as of December 31, 2015, are as follows:



Year		Dollars (in millions)
2016		329.5
2017		20.0
2018		4.8
2019		402.0
2020		—

Commercial paper has been classified as long-term liabilities in accordance with the Company's ability and intent to refinance such obligations on a long-term basis. The Company was in compliance with all debt covenants throughout 2015.