Debt

In April 2015, the company repaid the $612.5 million fixed rate notes due 2018 and paid a call premium of $60.5 million. As a result of the transaction, the company recognized debt prepayment costs of $61.8 million in the second quarter of 2015, which includes the call premium.

Long-term debt consisted of the following at September 30, 2015 and December 31, 2014:



(in millions)	September 30, 2015		December 31, 2014
$612.5 million fixed rate notes due March 2018, stated rate of 4.40% ⁽¹⁾	$	—	$	611.0
$750.0 million fixed rate notes due September 2022, stated rate of 3.00%⁽²⁾	748.4		748.2
$750.0 million fixed rate notes due March 2025, stated rate of 3.00% ⁽³⁾	744.1		—
$750.0 million fixed rate notes due September 2043, stated rate of 5.30% ⁽⁴⁾	748.7		748.7
Total long-term debt	$	2,241.2	$	2,107.9


(1)	In February 2010, the company entered into a forward-starting interest rate swap agreement that modified the interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 4.46%.


(2)	In August 2012, the company entered into a forward-starting interest rate swap agreement that modified the interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 3.32%.


(3)	In December 2014, the company entered into a forward-starting interest rate swap agreement that modified the interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 3.11%.


(4)	In August 2012, the company entered into a forward-starting interest rate swap agreement that modified the interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 4.73%.

Long-term debt maturities, at par value, were as follows at September 30, 2015:



(in millions)	Par Value
2016	$	—
2017	—
2018	—
2019	—
2020	—
Thereafter	2,250.0