DEBT AND INTEREST (Tables)

12 Months Ended

Dec. 31, 2023

DEBT AND INTEREST

Schedule of short-term debt obligations

	2023				2022
			Average				Average
	Carrying		Interest		Carrying		Interest
(millions)	Value		Rate		Value		Rate
Short-term debt
Commercial paper		$-	-	%		$-	-	%
Notes payable		1.8	8.29	%		3.7	7.28	%
Long-term debt, current maturities		628.6				501.4
Total		$630.4				$505.1

Schedule of long-term debt obligations including current maturities

		2023								2022
				Stated		Effective				Stated		Effective
	Maturity	Carrying		Interest		Interest		Carrying		Interest		Interest
(millions)	by Year	Value		Rate		Rate		Value		Rate		Rate
Long-term debt
Public notes (2023 principal amount)
Two year 2021 senior notes ($500 million)	2023		$-	-	%	-	%		$498.7	0.90	%	1.19	%
Seven year 2016 senior notes (€575 million)	2024		625.9	1.00	%	1.19	%		596.9	1.00	%	1.03	%
Ten year 2015 senior notes (€575 million)	2025		625.1	2.63	%	2.88	%		596.7	2.63	%	2.81	%
Ten year 2016 senior notes ($750 million)	2026		728.2	2.70	%	4.07	%		721.1	2.70	%	3.21	%
Ten year 2017 senior notes ($500 million)	2027		448.3	3.25	%	8.43	%		433.9	3.25	%	4.77	%
Six Year 2021 senior notes ($500 million)	2027		497.4	1.65	%	1.83	%		496.5	1.65	%	1.83	%
Five Year 2022 senior notes ($500 million)	2028		494.2	5.25	%	5.60	%		492.7	5.25	%	5.36	%
Ten year 2020 senior notes ($698 million)	2030		662.7	4.80	%	6.19	%		653.5	4.80	%	3.72	%
Ten year 2020 senior notes ($600 million)	2031		561.0	1.30	%	3.21	%		555.2	1.30	%	1.70	%
Eleven year 2021 senior notes ($650 million)	2032		645.2	2.13	%	2.06	%		644.6	2.13	%	2.24	%
Thirty year 2011 senior notes ($389 million)	2041		384.7	5.50	%	5.62	%		384.5	5.50	%	5.62	%
Thirty year 2016 senior notes ($200 million)	2046		197.4	3.70	%	3.80	%		197.3	3.70	%	3.81	%
Thirty year 2017 senior notes ($484 million)	2047		426.8	3.95	%	4.79	%		425.5	3.95	%	4.79	%
Thirty year 2020 senior notes ($500 million)	2050		491.1	2.13	%	2.23	%		490.7	2.13	%	2.23	%
Thirty year 2021 senior notes ($850 million)	2051		839.3	2.70	%	2.78	%		838.9	2.70	%	2.78	%
Thirty-four year 2021 senior notes ($685 million)	2055		539.2	2.75	%	3.86	%		537.2	2.75	%	3.86	%
Finance lease obligations and other			13.5						12.8
Total debt			8,180.0						8,576.7
Long-term debt, current maturities			(628.6)						(501.4)
Total long-term debt			$7,551.4						$8,075.3

Schedule of aggregate annual maturities of long-term debt

(millions)
2024	$629
2025	634
2026	729
2027	946
2028	495

Schedule of interest expense and interest income

(millions)	2023		2022		2021
Interest expense		$348.9		$252.1		$230.6
Interest income		(52.2)		(8.5)		(12.3)
Interest expense, net		$296.7		$243.6		$218.3