DEBT AND INTEREST (Tables)

12 Months Ended

Dec. 31, 2016

DEBT AND INTEREST

Schedule of short-term debt obligations

	2016				2015
			Average				Average
	Carrying		Interest		Carrying		Interest
(millions, except interest rates)	Value		Rate		Value		Rate
Short-term debt
Commercial paper		$ -	-	%		$ 605.0	0.70	%
Notes payable		29.9	2.92	%		30.9	3.33	%
Long-term debt, current maturities		511.4				1,569.4
Total		$ 541.3				$ 2,205.3

Schedule of long-term debt obligations including current maturities

		2016								2015
				Average		Effective				Average		Effective
	Maturity	Carrying		Interest		Interest		Carrying		Interest		Interest
(millions)	by Year	Value		Rate		Rate		Value		Rate		Rate
Long-term debt
Description / 2016 Principal Amount
Term loan ($0)	2016		$ -	-	%	-	%		$ 125.0	1.40	%	1.40	%
Series B private placement senior notes (€0)	2016		-	-	%	-	%		184.9	4.59	%	4.73	%
Five year 2011 senior notes ($0)	2016		-	-	%	-	%		1,247.3	3.00	%	3.08	%
Five year 2012 senior notes ($500 million)	2017		498.9	1.45	%	1.22	%		497.9	1.45	%	0.82	%
Three year 2015 senior notes ($300 million)	2018		298.9	1.55	%	1.43	%		297.8	1.55	%	0.98	%
Series A private placement senior notes ($250 million)	2018		248.9	3.69	%	4.65	%		248.6	3.69	%	4.32	%
Three year 2016 senior notes ($400 million)	2019		395.9	2.00	%	1.78	%		-	-	%	-	%
Five year 2015 senior notes ($300 million)	2020		298.6	2.25	%	2.79	%		298.1	2.25	%	2.30	%
Ten year 2011 senior notes ($1.25 billion)	2021		1,244.8	4.35	%	4.43	%		1,243.7	4.35	%	4.43	%
Series B private placement senior notes ($250 million)	2023		249.2	4.32	%	4.36	%		249.1	4.32	%	4.36	%
Seven year 2016 senior notes ($400 million)	2023		397.0	3.25	%	3.49	%		-	-	%	-	%
Seven year 2016 senior notes (€575 million)	2024		608.4	1.00	%	1.20	%		-	-	%	-	%
Ten year 2015 senior notes (€575 million)	2025		604.3	2.63	%	2.88	%		601.8	2.63	%	2.99	%
Ten year 2016 senior notes ($750 million)	2026		742.1	2.70	%	2.94	%		-	-	%	-	%
Thirty year 2011 senior notes ($750 million)	2041		738.7	5.50	%	5.56	%		738.3	5.50	%	5.56	%
Thirty year 2016 senior notes ($250 million)	2046		245.9	3.70	%	3.75	%		-	-	%	-	%
Capital lease obligations			5.2						5.6
Other			80.3						91.5
Total debt			6,657.1						5,829.6
Long-term debt, current maturities			(511.4)						(1,569.4)
Total long-term debt			$ 6,145.7						$ 4,260.2

Schedule of aggregate annual maturities of long-term debt

(millions)
2017	$ 511
2018	560
2019	408
2020	311
2021	1,257

Schedule of interest expense and interest income

(millions)	2016		2015		2014
Interest expense		$ 285.4		$ 253.7		$ 268.0
Interest income		(20.8)		(10.1)		(11.4)
Interest expense, net		$ 264.6		$ 243.6		$ 256.6