Debt (Tables)

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Debt Obligations

Debt Obligations

	As of
	September 30, 2023		December 31, 2022
	(In millions)
Long-term debt
CAD 500 million 2.84% notes due July 2023(1)	$	—	$	368.9
EUR 800 million 1.25% notes due July 2024	845.8		856.4
CAD 500 million 3.44% notes due July 2026	368.3		368.9
$2.0 billion 3.0% notes due July 2026	2,000.0		2,000.0
$1.1 billion 5.0% notes due May 2042	1,100.0		1,100.0
$1.8 billion 4.2% notes due July 2046	1,800.0		1,800.0
Finance leases	52.7		61.5
Other	23.2		25.4
Less: unamortized debt discounts and debt issuance costs	(36.5)		(39.7)
Total long-term debt (including current portion)	6,153.5		6,541.4
Less: current portion of long-term debt	(852.4)		(376.2)
Total long-term debt	$	5,301.1	$	6,165.2
Short-term borrowings(2)	26.4		20.9
Current portion of long-term debt	852.4		376.2
Current portion of long-term debt and short-term borrowings	$	878.8	$	397.1

(1)We repaid our CAD 500 million 2.84% notes upon maturity on July 15, 2023 using cash on hand.

(2)Our short-term borrowings include bank overdrafts, borrowings on our overdraft facilities and other items.

As of September 30, 2023, we had $21.4 million in bank overdrafts and $121.1 million in bank cash related to our cross-border, cross-currency cash pool for a net positive position of $99.7 million. As of December 31, 2022, we had $15.9 million in bank overdrafts and $49.7 million in bank cash related to our cross-border, cross-currency cash pool for a net positive position of $33.8 million.

In addition, we have CAD, GBP and USD overdraft facilities under which we had no outstanding borrowings as of September 30, 2023 and December 31, 2022. See further detail within Part II.—Item 8. Financial Statements, Note 13, "Commitments and Contingencies" in our Annual Report for further discussion related to letters of credit.