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Financing (Tables) | 12 Months Ended
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Dec. 31, 2019
Debt Disclosure [Abstract] |
Components Of Debt | The following summarizes the key terms of the offering (€ in millions):
| Aggregate Principal Amount |  | Stated Annual Interest Rate |  | Issue Price (as % of Principal Amount) |  | Maturity Date |  | Interest Payment Dates (in arrears)
2026 Biopharma Euronotes | € | 1,250.0 |  |  | 0.200 | % |  | 99.833 | % |  | March 18, 2026 |  | March 18
2028 Biopharma Euronotes | € | 1,250.0 |  |  | 0.450 | % |  | 99.751 | % |  | March 18, 2028 |  | March 18
2031 Biopharma Euronotes | € | 1,750.0 |  |  | 0.750 | % |  | 99.920 | % |  | September 18, 2031 |  | September 18
2039 Biopharma Euronotes | € | 1,250.0 |  |  | 1.350 | % |  | 99.461 | % |  | September 18, 2039 |  | September 18
2049 Biopharma Euronotes | € | 750.0 |  |  | 1.800 | % |  | 99.564 | % |  | September 18, 2049 |  | September 18
The components of the Company’s debt as of December 31 were as follows ($ in millions):
| 2019 |  | 2018
U.S. dollar-denominated commercial paper | $ | — |  |  | $ | 72.8 |
Euro-denominated commercial paper (€4.6 billion and €2.1 billion, respectively) | 5,146.2 |  |  | 2,377.5 |
1.0% senior unsecured notes due 2019 (€600.0 million aggregate principal amount) (the “2019 Euronotes”) | — |  |  | 687.0 |
2.4% senior unsecured notes due 2020 (the “2020 U.S. Notes”) | — |  |  | 498.5 |
5.0% senior unsecured notes due 2020 (the “2020 Assumed Pall Notes”) | — |  |  | 386.7 |
Zero-coupon LYONs due 2021 | 33.6 |  |  | 56.2 |
0.352% senior unsecured notes due 2021 (¥30.0 billion aggregate principal amount) (the “2021 Yen Notes”) | 275.8 |  |  | 273.2 |
1.7% senior unsecured notes due 2022 (€800.0 million aggregate principal amount) (the “2022 Euronotes”) | 894.8 |  |  | 913.2 |
Floating rate senior unsecured notes due 2022 (€250.0 million aggregate principal amount) (the “Floating Rate 2022 Euronotes”) | 279.8 |  |  | 285.7 |
2.05% senior unsecured notes due 2022 (the “2022 Biopharma Notes”) | 696.9 |  |  | — |
0.5% senior unsecured bonds due 2023 (CHF 540.0 million aggregate principal amount) (the “2023 CHF Bonds”) | 558.9 |  |  | 550.7 |
2.2% senior unsecured notes due 2024 (the “2024 Biopharma Notes”) | 696.2 |  |  | — |
2.5% senior unsecured notes due 2025 (€800.0 million aggregate principal amount) (the “2025 Euronotes”) | 893.7 |  |  | 912.6 |
3.35% senior unsecured notes due 2025 (the “2025 U.S. Notes”) | 497.3 |  |  | 496.8 |
0.2% senior unsecured notes due 2026 (€1.3 billion aggregate principal amount) (the “2026 Biopharma Euronotes”) | 1,392.3 |  |  | — |
0.3% senior unsecured notes due 2027 (¥30.8 billion aggregate principal amount) (the “2027 Yen Notes”) | 282.5 |  |  | 279.9 |
1.2% senior unsecured notes due 2027 (€600.0 million aggregate principal amount) (the “2027 Euronotes”) | 668.0 |  |  | 682.0 |
0.45% senior unsecured notes due 2028 (€1.3 billion aggregate principal amount) (the “2028 Biopharma Euronotes”) | 1,390.1 |  |  | — |
1.125% senior unsecured bonds due 2028 (CHF 210.0 million aggregate principal amount) (the “2028 CHF Bonds”) | 221.0 |  |  | 218.1 |
2.6% senior unsecured notes due 2029 (the “2029 Biopharma Notes”) | 794.8 |  |  | — |
0.75% senior unsecured notes due 2031 (€1.8 billion aggregate principal amount) (the “2031 Biopharma Euronotes”) | 1,948.7 |  |  | — |
0.65% senior unsecured notes due 2032 (¥53.2 billion aggregate principal amount) (the “2032 Yen Notes”) | 487.8 |  |  | 483.4 |
1.35% senior unsecured notes due 2039 (€1.3 billion aggregate principal amount) (the “2039 Biopharma Euronotes”) | 1,383.6 |  |  | — |
3.25% senior unsecured notes due 2039 (the “2039 Biopharma Notes”) | 890.3 |  |  | — |
4.375% senior unsecured notes due 2045 (the “2045 U.S. Notes”) | 499.4 |  |  | 499.3 |
1.8% senior unsecured notes due 2049 (€750.0 million aggregate principal amount) (the “2049 Biopharma Euronotes”) | 830.9 |  |  | — |
3.4% senior unsecured notes due 2049 (the “2049 Biopharma Notes”) | 890.2 |  |  | — |
Other | 76.3 |  |  | 66.7 |
Total debt | 21,729.1 |  |  | 9,740.3 |
Less: currently payable | 212.4 |  |  | 51.8 |
Long-term debt | $ | 21,516.7 |  |  | $ | 9,688.5 |
The following summarizes the key terms of the offering ($ in millions):
| Aggregate Principal Amount |  | Stated Annual Interest Rate |  | Issue Price (as % of Principal Amount) |  | Maturity Date |  | Interest Payment Dates (in arrears)
2022 Biopharma Notes | $ | 700.0 |  |  | 2.050 | % |  | 99.994 | % |  | November 15, 2022 |  | May 15 and November 15
2024 Biopharma Notes | $ | 700.0 |  |  | 2.200 | % |  | 99.952 | % |  | November 15, 2024 |  | May 15 and November 15
2029 Biopharma Notes | $ | 800.0 |  |  | 2.600 | % |  | 99.903 | % |  | November 15, 2029 |  | May 15 and November 15
2039 Biopharma Notes | $ | 900.0 |  |  | 3.250 | % |  | 99.809 | % |  | November 15, 2039 |  | May 15 and November 15
2049 Biopharma Notes | $ | 900.0 |  |  | 3.400 | % |  | 99.756 | % |  | November 15, 2049 |  | May 15 and November 15
The following summarizes the key terms for the Company’s long-term debt as of December 31, 2019:
| Outstanding Balance as of December 31, 2019 |  | Stated Annual Interest Rate |  | Issue Price (as % of Principal Amount) |  | Issue Date |  | Maturity Date |  | Interest Payment Dates (in arrears)
2021 LYONs | $ | 33.6 |  |  | see below |  |  | not applicable |  |  | January 22, 2001 |  | January 22, 2021 |  | January 22 and July 22
2021 Yen Notes (4) | 275.8 |  |  | 0.352 | % |  | 100 | % |  | February 28, 2016 |  | March 16, 2021 |  | March 16 and September 16
2022 Euronotes (1) | 894.8 |  |  | 1.7 | % |  | 99.651 | % |  | July 8, 2015 |  | January 4, 2022 |  | January 4
Floating Rate 2022 Euronotes (5) | 279.8 |  |  | three-month EURIBOR + 0.3% |  |  | 100.147 | % |  | June 30, 2017 |  | June 30, 2022 |  | March 30, June 30, September 30 and December 31
2022 Biopharma Notes (8) | 696.9 |  |  | 2.05 | % |  | 99.994 | % |  | November 7, 2019 |  | November 15, 2022 |  | May 15 and November 15
2023 CHF Bonds (2) | 558.9 |  |  | 0.5 | % |  | 100.924 | % |  | December 8, 2015 |  | December 8, 2023 |  | December 8
2024 Biopharma Notes (8) | 696.2 |  |  | 2.2 | % |  | 99.952 | % |  | November 7, 2019 |  | November 15, 2024 |  | May 15 and November 15
2025 Euronotes (1) | 893.7 |  |  | 2.5 | % |  | 99.878 | % |  | July 8, 2015 |  | July 8, 2025 |  | July 8
2025 U.S. Notes (3) | 497.3 |  |  | 3.35 | % |  | 99.857 | % |  | September 15, 2015 |  | September 15, 2025 |  | March 15 and September 15
2026 Biopharma Euronotes (7) | 1,392.3 |  |  | 0.2 | % |  | 99.833 | % |  | September 18, 2019 |  | March 18, 2026 |  | March 18
2027 Yen Notes (6) | 282.5 |  |  | 0.3 | % |  | 100 | % |  | May 11, 2017 |  | May 11, 2027 |  | May 11 and November 11
2027 Euronotes (5) | 668.0 |  |  | 1.2 | % |  | 99.682 | % |  | June 30, 2017 |  | June 30, 2027 |  | June 30
2028 Biopharma Euronotes (7) | 1,390.1 |  |  | 0.45 | % |  | 99.751 | % |  | September 18, 2019 |  | March 18, 2028 |  | March 18
2028 CHF Bonds (2) | 221.0 |  |  | 1.125 | % |  | 102.870 | % |  | December 8, 2015 and December 8, 2017 |  | December 8, 2028 |  | December 8
2029 Biopharma Notes (8) | 794.8 |  |  | 2.6 | % |  | 99.903 | % |  | November 7, 2019 |  | November 15, 2029 |  | May 15 and November 15
2031 Biopharma Euronotes (7) | 1,948.7 |  |  | 0.75 | % |  | 99.920 | % |  | September 18, 2019 |  | September 18, 2031 |  | September 18
2032 Yen Notes (6) | 487.8 |  |  | 0.65 | % |  | 100 | % |  | May 11, 2017 |  | May 11, 2032 |  | May 11 and November 11
2039 Biopharma Euronotes (7) | 1,383.6 |  |  | 1.35 | % |  | 99.461 | % |  | September 18, 2019 |  | September 18, 2031 |  | September 18
2039 Biopharma Notes (8) | 890.3 |  |  | 3.25 | % |  | 99.809 | % |  | November 7, 2019 |  | November 15, 2039 |  | May 15 and November 15
2045 U.S. Notes (3) | 499.4 |  |  | 4.375 | % |  | 99.784 | % |  | September 15, 2015 |  | September 15, 2045 |  | March 15 and September 15
2049 Biopharma Euronotes (7) | 830.9 |  |  | 1.8 | % |  | 99.564 | % |  | September 18, 2019 |  | September 18, 2031 |  | September 18
2049 Biopharma Notes (8) | 890.2 |  |  | 3.4 | % |  | 99.756 | % |  | November 7, 2019 |  | November 15, 2049 |  | May 15 and November 15
U.S. dollar and euro-denominated commercial paper | 5,146.2 |  |  | various |  |  | various |  |  | various |  | various |  | various
Other | 76.3 |  |  | various |  |  | various |  |  | various |  | various |  | various
Total debt | $ | 21,729.1 |  |  |  |  |  |  |  |  |  |  |
(1) | The net proceeds, after underwriting discounts and commissions and offering expenses, of approximately €2.2 billion (approximately $2.4 billion based on currency exchange rates as of the date of issuance) from these notes and the 2019 Euronotes were used to pay a portion of the purchase price for the acquisition of Pall Corporation in 2015 (the “Pall Acquisition”).
(2) | The net proceeds, including the related premium, and after underwriting discounts and commissions and offering expenses, of CHF 758 million ($739 million based on currency exchange rates as of date of pricing) from these bonds were used to repay a portion of the commercial paper issued to finance the Pall Acquisition and the CHF 100 million aggregate principal amount of the 0.0% senior unsecured bonds that matured in December 2017.
(3) | The net proceeds, after underwriting discounts and commissions and offering expenses, of approximately $2.0 billion from these notes were used to repay a portion of the commercial paper issued to finance the Pall Acquisition.
(4) | The net proceeds, after offering expenses, of approximately ¥29.9 billion ($262 million based on currency exchange rates as of the date of issuance) from these notes were used to repay a portion of the commercial paper borrowings issued to finance the Pall Acquisition.
(5) | The net proceeds at issuance, after offering expenses, of €843 million ($940 million based on currency exchange rates as of the date of pricing) from these notes were used to partially repay commercial paper borrowings.
(6) | The net proceeds at issuance, after offering expenses, of approximately ¥83.6 billion ($744 million based on currency exchange rates as of the date of pricing) from these notes were used to partially repay commercial paper borrowings.
(7) The net proceeds at issuance, after offering expenses, of approximately €6.2 billion ($6.8 billion based on currency exchange rates as of the date of pricing) from these notes are intended to be used to finance the GE Biopharma Acquisition. (8) The net proceeds at issuance, after offering expenses, of approximately $4.0 billion from these notes are intended to be used to finance the GE Biopharma Acquisition.
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | The Company’s minimum principal payments for the next five years are as follows ($ in millions):
2020 | $ | 212.4 |
2021 | 298.2 |
2022 | 1,875.3 |
2023 | 547.7 |
2024 | 5,689.6 |
Thereafter | 13,105.9 |

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