Financing (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Schedule of Carry Value of Debt

The details of our Commercial Paper Programs as of December 31, 2018 were as follows ($ in millions):

	Carrying Value		Annual effective rate		Weighted average remaining maturity (in days)
U.S. dollar-denominated	$	390.1	2.98	%	18
Euro-denominated	$	270.1	(0.10	)%	58

The carrying value of the components of our debt as of December 31 were as follows ($ in millions):

	2018		2017
U.S. dollar-denominated commercial paper	$	390.1	$	665.1
Euro-denominated commercial paper	270.1		282.7
U.S. dollar variable interest rate term loan due 2019	—		500.0
Delayed-draw term loan due 2019	400.0		—
Yen variable interest rate term loan due 2022	125.7		122.4
1.80% senior unsecured notes due 2019	55.6		298.9
2.35% senior unsecured notes due 2021	747.0		745.9
3.15% senior unsecured notes due 2026	891.9		891.0
4.30% senior unsecured notes due 2046	546.9		546.8
Other	3.0		3.4
Long-term debt	3,430.3		4,056.2
Less: Current portion of long-term debt	455.6		—
Long-term debt, net of current maturities	$	2,974.7	$	4,056.2

Schedule of Debt

Registered Notes Series	Call Dates
1.80% senior unsecured notes due 2019	June 15, 2019
2.35% senior unsecured notes due 2021	May 15, 2021
3.15% senior unsecured notes due 2026	March 15, 2026
4.30% senior unsecured notes due 2046	December 15, 2045

Schedule of Maturities of Long-term Debt

There are $456 million of minimum principal payments due under our total long-term debt during 2019. The future minimum principal payments due are presented in the following table:

	Term Loans		Registered Notes		Total
2019	$	400.0	$	55.3	$	455.3
2020	—		—		—
2021	—		750.0		750.0
2022	125.7		—		125.7
2023	—		—		—
Thereafter	—		1,450.0		1,450.0
Total principal payments (a)	$	525.7	$	2,255.3	$	2,781.0
(a) Not included in the table above are discounts, net of premiums and issuance costs associated with the Notes and the Commercial Paper Programs, which totaled $17 million as of December 31, 2018, and have been recorded as an offset to the carrying amount of the related debt in the accompanying Consolidated Balance Sheet as of December 31, 2018. In addition, the table above does not include principal balances of $663.3 million under the Commercial Paper Programs and other financing balances of $3 million.