Financing Arrangements	9 Months Ended
Sep. 30, 2012
Financing Arrangements	Note E – Financing Arrangements The Company has a $1.5 billion committed credit facility that expires June 14, 2016. Borrowings under the facility bear interest at 1.5% above LIBOR based on the Company’s current credit rating as of September 30, 2012. Facility fees are due at varying rates on the commitment. The Company’s shelf registration statement on file with the U.S. Securities and Exchange Commission that permitted the offer and sale of debt and/or equity securities expired in September 2012. In October 2012, the Company filed a Form S-3 with the U.S. Securities and Exchange Commission (SEC) that established a new three-year shelf registration. Ten year notes totaling $350 million matured on May 1, 2012 and were repaid using $350 million of borrowings from other existing credit facilities. In May 2012, the Company sold $500 million of new notes that carry a coupon rate of 4.00% and mature on June 1, 2022. The new notes pay interest semi-annually on June 1 and December 1, with the initial interest payment to be made on December 1, 2012. The proceeds of the $500 million notes were used to repay the borrowings incurred on May 1 under other credit facilities and for general corporate purposes.

Financing Arrangements

9 Months Ended

Sep. 30, 2012

Note E – Financing Arrangements

The Company has a $1.5 billion committed credit facility that expires June 14, 2016. Borrowings under the facility bear interest at 1.5% above LIBOR based on the Company’s current credit rating as of September 30, 2012. Facility fees are due at varying rates on the commitment. The Company’s shelf registration statement on file with the U.S. Securities and Exchange Commission that permitted the offer and sale of debt and/or equity securities expired in September 2012. In October 2012, the Company filed a Form S-3 with the U.S. Securities and Exchange Commission (SEC) that established a new three-year shelf registration.

Ten year notes totaling $350 million matured on May 1, 2012 and were repaid using $350 million of borrowings from other existing credit facilities. In May 2012, the Company sold $500 million of new notes that carry a coupon rate of 4.00% and mature on June 1, 2022. The new notes pay interest semi-annually on June 1 and December 1, with the initial interest payment to be made on December 1, 2012. The proceeds of the $500 million notes were used to repay the borrowings incurred on May 1 under other credit facilities and for general corporate purposes.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References+ Details