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Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Long-Term Debt

December 31 
(in millions)

 

2022

 

 

2021

 

0.650% Senior Notes, due 2023 (discharged)

 

$

699.1

 

 

$

697.4

 

4.250% Senior Notes, due 2024

 

 

398.9

 

 

 

398.3

 

7% Debentures, due 2025

 

 

124.7

 

 

 

124.6

 

3.450% Senior Notes, due 2027

 

 

298.3

 

 

 

297.9

 

3.500% Senior Notes, due 2027

 

 

491.5

 

 

 

496.4

 

2.500% Senior Notes, due 2030

 

 

470.5

 

 

 

491.1

 

2.400% Senior Notes, due 2031

 

 

888.6

 

 

 

891.8

 

6.25% Senior Notes, due 2037

 

 

228.4

 

 

 

228.3

 

4.250% Senior Notes, due 2047

 

 

590.2

 

 

 

592.1

 

3.200% Senior Notes, due 2051

 

 

849.8

 

 

 

882.9

 

Other notes

 

 

 

 

 

0.1

 

Total debt

 

 

5,040.0

 

 

 

5,100.9

 

Less: current maturities

 

 

(699.1

)

 

 

(0.1

)

Long-term debt

 

$

4,340.9

 

 

$

5,100.8

 

Schedule of Principal Amount, Effective Interest Rate and Maturity Date for Corporation's Senior Notes

 

 

Principal
Amount
(in millions)

 

 

Effective
Interest
Rate

 

Maturity Date

0.650% Senior Notes (discharged)

 

$

700.0

 

 

0.78%

 

July 15, 2023

4.250% Senior Notes

 

$

400.0

 

 

4.40%

 

July 2, 2024

7% Debentures

 

$

125.0

 

 

7.05%

 

December 1, 2025

3.450% Senior Notes

 

$

300.0

 

 

3.55%

 

June 1, 2027

3.500% Senior Notes

 

$

494.6

 

 

3.61%

 

December 15, 2027

2.500% Senior Notes

 

$

478.0

 

 

2.70%

 

March 15, 2030

2.400% Senior Notes

 

$

895.9

 

 

2.48%

 

July 15, 2031

6.25% Senior Notes

 

$

230.0

 

 

6.32%

 

May 1, 2037

4.250% Senior Notes

 

$

597.9

 

 

4.32%

 

December 15, 2047

3.200% Senior Notes

 

$

865.9

 

 

3.29%

 

July 15, 2051

Schedule of Corporation's Long-Term Debt Maturities

The Company’s long-term debt maturities, including the discharged 0.650% Senior Notes, for the five years following December 31, 2022, and thereafter are:

 

(in millions)

 

 

 

2023

 

$

699.1

 

2024

 

 

398.9

 

2025

 

 

124.7

 

2026

 

 

 

2027

 

 

789.8

 

Thereafter

 

 

3,027.5

 

Total

 

$

5,040.0