SHORT-TERM DEBT AND LINES OF CREDIT - SHORT-TERM BORROWINGS (Details) - USD ($) $ in Millions	9 Months Ended
Sep. 30, 2024	Dec. 31, 2023
Commercial paper
Short-term borrowings
Commercial paper outstanding	$ 592.4	$ 2,017.2
Weighted average interest rate on amounts outstanding	4.94%	5.49%
Average amount of commercial paper outstanding during the period	$ 1,478.4
Weighted-average interest rate on amounts outstanding during the period	5.48%
Operating expense loans
Short-term borrowings
Operating expense loan outstanding	$ 4.6	$ 3.7

Carrying value as of the balance sheet date of short-term borrowings using unsecured obligations issued by banks, corporations and other borrowers to investors. The maturities of these money market securities generally do not exceed 270 days.

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For the form of debt having an initial term of less than one year or less than the normal operating cycle, if longer, average borrowings during the period.

+ References

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