Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2016

Long-Term Debt

Schedule of long-term debt

		December 31, 2016				December 31, 2015
		Carrying		Approximate		Carrying		Approximate
	Maturity	Amount		Fair Value (1)		Amount		Fair Value (1)
Revolving Credit Facility	March 2021	$	—	$	—	$	—	$	—
Commercial Paper Program (less unamortized discount of $0.4 and $0.2 at December 31, 2016 and 2015, respectively)	March 2021		1,018.9		1,018.9		823.9		823.9
4.00% Senior Notes (less unamortized discount of $0.6 and $0.8 at December 31, 2016 and 2015, respectively)	February 2022		499.4		523.7		499.2		508.6
2.55% Senior Notes (less unamortized discount of $0.5 and $0.7 at December 31, 2016 and 2015, respectively)	January 2019		749.5		758.3		749.2		750.1
1.55% Senior Notes (less unamortized discount of $0.1 and $0.2 at December 31, 2016 and 2015, respectively)	September 2017		374.9		375.4		374.8		373.2
3.125% Senior Notes (less unamortized discount of $0.2 and $0.3 at December 31, 2016 and 2015, respectively)	September 2021		374.8		380.4		374.7		367.7
Notes payable to foreign banks and other debt	2017-2022		5.5		5.5		5.0		5.0
Less deferred debt issuance costs			(12.3)		—		(13.3)		—
Total debt			3,010.7		3,062.2		2,813.5		2,828.5
Less current portion			375.2		375.7		0.3		0.3
Total long-term debt		$	2,635.5	$	2,686.5	$	2,813.2	$	2,828.2

(1) The fair value of the Company’s Senior Notes is based on recent bid prices in an active market, and therefore is classified as Level 1 in the fair value hierarchy (Note 3).

Schedule of maturity of the Company's debt (exclusive of unamortized deferred debt issuance costs) over each of the next five years and thereafter

2017	$	375.7
2018		0.3
2019		749.8
2020		0.1
2021		1,396.8
Thereafter		500.3
	$	3,023.0