FINANCING ARRANGEMENTS (Tables)

12 Months Ended

Dec. 31, 2011

Short-Term Debt

Short-term debt consisted of the following:



	December 31,
	2011					2010
	Principal			Interest		Principal			Interest
(in thousands)	Balance			Rate		Balance			Rate

U. S. Dollar revolving credit agreement expiring August 2012	$	—				$	—
Bank overdrafts	192					247
U. S. dollar corporate commercial paper facility rated A/2-P/2	266,828			0.5	%	—
European short-term loan	2,438			3.4	%	4,129			2.5	%
Brazil short-term loan	5,834			12.9	%	900			2.3	%
Add: Current portion of long-term debt	1,409					2,478
Total short-term debt	$	276,701				$	7,754

	2011					2010
Maximum month-end outstanding during the year	$	355,304				$	30,818
Average amount outstanding during the year	$	225,498				$	11,197
Weighted-average interest rate at year-end	0.8		%			2.3		%

Long-Term Debt

Long-term debt consisted of the following:



	December 31,
	2011				2010
	Principal		Interest		Principal		Interest
(in thousands)	Balance		Rate		Balance		Rate

Multi-currency revolving credit agreement expiring July 2016
U. S. dollar denominated	$	—			$	2,123
U. S. dollar corporate commercial paper facility rated A/2-P/2	—				119,500		0.4	%
Floating rate senior notes $250 million due August 2013	250,000		2.0	%	—
Term loan Japanese yen denominated expiring September 2014	162,956		1.1	%	154,626		0.9	%
Private placement notes $250 million expiring March 2016	254,512		4.1	%	250,000		4.1	%
Fixed rate senior notes $300 million due August 2016	299,603		2.8	%	—
Term loan Swiss francs denominated expiring September 2016	69,197		1.2	%	69,560		1.7	%
Fixed rate senior notes $450 million due August 2021	448,497		4.1	%	—
Other borrowings, various currencies and rates	6,654				10,684
	$	1,491,419			$	606,493
Less: Current portion
(included in notes payable and current portion of long-term debt)	1,409				2,478
Long-term portion	$	1,490,010			$	604,015

The table below reflects the contractual maturity dates of the various borrowings at December 31, 2011: