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Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2015
Long-Term Debt  
Schedule of long-term debt

 

 

 

 

 

December 31, 2015

 

December 31, 2014

 

 

 

Maturity

 

Carrying
Amount

 

Approximate
Fair Value (1)

 

Carrying
Amount

 

Approximate
Fair Value (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

$1,500.0 Revolving Credit Facility

 

July 2018

 

$

 —

 

$

—

 

$

—

 

$

—

 

$200.0 Credit Agreement

 

May 2015

 

N/A

 

N/A

 

—

 

—

 

$1,500.0 Commercial Paper Program (less unamortized discount of $0.2 and $0.4 at December 31, 2015 and 2014, respectively)

 

July 2018

 
823.9

 
823.9

 
671.0

 
671.0

 

4.00% Senior Notes (less unamortized discount of $0.8 and $0.9 at December 31, 2015 and 2014, respectively)

 

February 2022

 
499.2

 
508.6

 
499.1

 
524.5

 

2.55% Senior Notes (less unamortized discount of $0.7 and $0.9 at December 31, 2015 and 2014, respectively)

 

January 2019

 
749.2

 
750.1

 
749.1

 
754.9

 

1.55% Senior Notes (less unamortized discount of $0.2 and $0.3 at December 31, 2015 and 2014, respectively)

 

September 2017

 
374.8

 
373.2

 
374.7

 
373.0

 

3.125% Senior Notes (less unamortized discount of $0.3 and $0.3 at December 31, 2015 and 2014, respectively)

 

September 2021

 
374.7

 
367.7

 
374.7

 
375.3

 

Notes payable to foreign banks and other debt

 

2016-2021

 
5.0

 
5.0

 
5.3

 
5.3

 

Less deferred debt issuance costs

 

 

 
(13.3

)

—

 
(17.7

)

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
2,813.5

 
2,828.5

 
2,656.2

 
2,704.0

 

Less current portion

 

 

 
0.3

 
0.3

 
1.6

 
1.6

 

 

 

 

 

 

 

 

 

 

 

 

 

Total long-term debt

 

 

 

$
2,813.2

 

$
2,828.2

 

$
2,654.6

 

$
2,702.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

The fair values of the Company’s Senior Notes are based on recent bid prices in an active market, and therefore are 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

 

The maturity of the Company’s debt (exclusive of unamortized deferred debt issuance costs as of December 31, 2015) over each of the next five years ending December 31 and thereafter, is as follows:

 

2016

 

$
0.3 

 

2017

 
375.0 

 

2018

 
826.9 

 

2019

 
749.4 

 

2020

 
0.1 

 

Thereafter

 
875.1 

 

 

 

 

 

 

 

$
2,826.8