Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2017

Long-Term Debt

Schedule of debt

		December 31, 2017				December 31, 2016
		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 $0.3 and $0.4 at December 31, 2017 and 2016, respectively)	March 2021		1,175.4		1,175.4		1,018.9		1,018.9
4.00% Senior Notes (less unamortized discount of $0.5 and $0.6 at December 31, 2017 and 2016, respectively)	February 2022		499.5		522.5		499.4		523.7
2.55% Senior Notes (less unamortized discount of $0.2 and $0.5 at December 31, 2017 and 2016, respectively)	January 2019		749.8		752.8		749.5		758.3
1.55% Senior Notes (less unamortized discount of $0.1 at December 31, 2016)	September 2017		—		—		374.9		375.4
3.125% Senior Notes (less unamortized discount of $0.2 and $0.2 at December 31, 2017 and 2016, respectively)	September 2021		374.8		381.2		374.8		380.4
2.20% Senior Notes (less unamortized discount of $0.2 at December 31, 2017)	April 2020		399.8		398.0		—		—
3.20% Senior Notes (less unamortized discount of $0.4 at December 31, 2017)	April 2024		349.6		351.9		—		—
Notes payable to foreign banks and other debt	2018-2032		6.6		6.6		5.5		5.5
Less unamortized deferred debt issuance costs			(12.9)		—		(12.3)		—
Total debt			3,542.6		3,588.4		3,010.7		3,062.2
Less current portion			1.1		1.1		375.2		375.7
Total long-term debt		$	3,541.5	$	3,587.3	$	2,635.5	$	2,686.5

(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

2018	$	1.1
2019		751.0
2020		400.7
2021		1,551.2
2022		500.2
Thereafter		351.3
	$	3,555.5