Debt (Tables)

12 Months Ended

Dec. 31, 2023

The following table summarizes our outstanding debt obligations.


As of December 31	2023		2022
Commercial paper(a)	$	184.9	$	448.3
Short-term loans	0.5		0.5
Current maturities of long-term debt	2.3		2.2
Total short-term borrowings	187.7		451.0
Non-current maturities of long-term debt	5.7		7.7
Total debt	$	193.4	$	458.7

(a)The decrease in commercial paper outstanding from December 31, 2022 to December 31, 2023 was primarily related to higher share repurchase and acquisition activity in the prior year that was financed using commercial paper, and timing of repayments. See Note 18, Capital Stock, and Note 22, Acquisitions, Investments, and Divestitures, for additional information.

Schedule of Commercial Paper

The following table presents our outstanding commercial paper borrowings and associated weighted average interest rates.


As of or for the Year Ended December 31	2023			2022
Commercial Paper Outstanding - U.S. Program	$	184.9		$	299.2
Commercial Paper Outstanding - Euro Program	—			149.1
Total Commercial Paper Outstanding	$	184.9		$	448.3
Weighted Average Interest Rate - U.S. Program	5.61		%	4.92		%
Weighted Average Interest Rate - Euro Program	N/A			2.31		%

Outstanding commercial paper for both periods had maturity terms less than three months from the date of issuance.