DEBT AND INTEREST (Tables)

12 Months Ended

Dec. 31, 2018

DEBT AND INTEREST

Schedule of short-term debt obligations

	2018				2017
			Average				Average
	Carrying		Interest		Carrying		Interest
(millions)	Value		Rate		Value		Rate
Short-term debt
Commercial paper		$165.4	0.18	%		$-	-	%
Notes payable		176.8	1.47	%		14.7	2.77	%
Long-term debt, current maturities		401.4				549.7
Total		$743.6				$564.4

Schedule of long-term debt obligations including current maturities

		2018								2017
				Stated		Effective				Stated		Effective
	Maturity	Carrying		Interest		Interest		Carrying		Interest		Interest
(millions)	by Year	Value		Rate		Rate		Value		Rate		Rate
Long-term debt
Public and 144A notes (2018 principal amount)
Three year 2015 senior notes ($0 million)	2018		$-	-	%	-	%		$299.9	1.55	%	1.94	%
Three year 2016 senior notes ($400 million)	2019		399.7	2.00	%	3.24	%		396.1	2.00	%	2.26	%
Five year 2015 senior notes ($300 million)	2020		299.5	2.25	%	2.79	%		299.1	2.25	%	2.79	%
Ten year 2011 senior notes ($1.02 billion)	2021		1,017.6	4.35	%	4.43	%		1,016.6	4.35	%	4.45	%
Five year 2017 senior notes ($500 million)	2022		496.9	2.38	%	2.55	%		496.3	2.38	%	2.55	%
Seven year 2016 senior notes ($400 million)	2023		398.0	3.25	%	3.49	%		397.5	3.25	%	3.49	%
Seven year 2016 senior notes (€575 million)	2024		644.1	1.00	%	1.09	%		676.6	1.00	%	1.17	%
Ten year 2015 senior notes (€575 million)	2025		646.3	2.63	%	2.94	%		679.4	2.63	%	2.85	%
Ten year 2016 senior notes ($750 million)	2026		743.8	2.70	%	2.93	%		742.8	2.70	%	2.93	%
Ten year 2017 144A notes ($500 million)	2027		-	-	%	-	%		494.7	3.25	%	3.36	%
Ten year 2017 senior notes ($500 million)	2027		494.8	3.25	%	3.37	%		-	-	%	-	%
Thirty year 2011 senior notes ($458 million)	2041		451.6	5.50	%	5.56	%		451.3	5.50	%	5.60	%
Thirty year 2016 senior notes ($250 million)	2046		246.1	3.70	%	3.76	%		246.0	3.70	%	3.76	%
Thirty year 2017 144A notes ($700 million)	2047		-	-	%	-	%		607.8	3.95	%	4.14	%
Thirty year 2017 senior notes ($700 million)	2047		609.0	3.95	%	4.14	%		-	-	%	-	%
Private notes (2018 principal amount)
Series A private placement senior notes ($250 million)	2018		-	-	%	-	%		248.5	3.69	%	5.16	%
Series B private placement senior notes ($250 million)	2023		249.4	4.32	%	4.36	%		249.3	4.32	%	4.36	%
Capital lease obligations and other			6.2						6.1
Total debt			6,703.0						7,308.0
Long-term debt, current maturities			(401.4)						(549.7)
Total long-term debt			$6,301.6						$6,758.3

Schedule of aggregate annual maturities of long-term debt

(millions)
2019	$ 401
2020	301
2021	1,018
2022	497
2023	648

Schedule of interest expense and interest income

(millions)	2018		2017		2016
Interest expense		$237.2		$274.6		$285.4
Interest income		(14.9)		(19.6)		(20.8)
Interest expense, net		$222.3		$255.0		$264.6