Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Details Of Long-Term Debt, Weighted Average Interest Rates And Due Dates

Long-term debt, interest rates and due dates at December 31 are as follows:

	2018						2017
	Year-end Interest Rate		Due Date Through	Balance			Year-end Interest Rate		Due Date Through	Balance
Senior Notes	—	%	—	$	—		4.4	%	2018	$	150.0
Senior Notes 1	3.4	%	2022	300.0			3.4	%	2022	300.0
Senior Notes 1	3.8	%	2024	300.0			3.8	%	2024	300.0
Senior Notes 1	3.5	%	2027	500.0			3.5	%	2027	500.0
Industrial development bonds, principally variable interest rates	1.9	%	2030	3.8			1.3	%	2030	6.2
Commercial paper 2	2.6	%	2022	70.0			—		2022	—
Capitalized leases (primarily machinery, vehicles and office equipment)				4.7						5.7
Other, partially secured				.6						.7
Unamortized discounts and deferred loan cost				(10.1		)				(10.9		)
Total debt				1,169.0						1,251.7
Less: current maturities				1.2						153.8
Total long-term debt				$	1,167.8					$	1,097.9

¹ Senior Notes are unsecured and unsubordinated obligations. For each of the Senior Notes:  (i) interest is paid semi-annually in arrears; (ii) principal is due at maturity with no sinking fund; and (iii) we may, at our option, at any time, redeem all or a portion of any of the debt at a make-whole redemption price equal to the greater of: (a) 100% of the principal amount of the notes being redeemed; and (b) the sum of the present values of the remaining scheduled payments of principal and interest thereon, discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at a specified discount rate determined by the terms of each respective note. The Senior Notes may also be redeemed by us within 90 days of maturity at 100% of the principal amount plus accrued and unpaid interest, and we are required to offer to purchase such notes at 101% of the principal amount, plus accrued and unpaid interest, if we experience a Change of Control Repurchase Event, as defined in the Senior Notes.  Also, each respective Senior Note contains restrictive covenants, including a limitation on secured debt of 15% of our consolidated assets, a limitation on sale and leaseback transactions, and a limitation on certain consolidations, mergers, and sales of assets.

² The weighted average interest rate for the net commercial paper activity during the years ended December 31, 2018 and 2017 was 2.4% and 1.4%, respectively.

Maturities Of Long-Term Debt

Maturities are as follows: 

Year ended December 31
2019	$	1.2
2020	1.1
2021	1.1
2022	370.1
2023	—
Thereafter	795.5
	$	1,169.0

Amounts Outstanding Related To Commercial Paper Program

Amounts outstanding at December 31 related to our commercial paper program were:

	2018			2017
Total program authorized	$	800.0		$	800.0
Commercial paper outstanding (classified as long-term debt)	(70.0		)	—
Letters of credit issued under the credit facility	—			—
Total program usage	(70.0		)	—
Total program available	$	730.0		$	800.0