Debt (Tables)

9 Months Ended

Sep. 30, 2016

Debt Disclosure [Abstract]

Schedule Of Short-Term And Long-Term Debt

Long-term debt consisted of the following at September 30, 2016 and December 31, 2015:

(in millions)	September 30, 2016		December 31, 2015
$750.0 million fixed rate notes due September 2022, stated rate of 3.00% (1)	$	745.0	$	744.4
$750.0 million fixed rate notes due March 2025, stated rate of 3.00% (2)	744.0		743.4
$750.0 million fixed rate notes due September 2043, stated rate of 5.30% (3)	741.7		741.5
Total long-term debt	$	2,230.7	$	2,229.3

(1) 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%.

(2) 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%.

(3) 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

Long-term debt maturities, at par value, were as follows at September 30, 2016:

(in millions)	Par Value
2017	$	—
2018	—
2019	—
2020	—
2021	—
Thereafter	2,250.0