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v3.20.4

DEBT AND INTEREST (Tables) | 12 Months Ended
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Dec. 31, 2020
DEBT AND INTEREST |
Schedule of short-term debt obligations | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2020 | ​ | 2019
​ | ​ |  | ​ |  | Average |  |  | ​ |  | Average
​ | ​ | Carrying | ​ | Interest | ​ | Carrying | ​ | Interest
(millions) | ​ | Value | ​ | Rate | ​ | Value | ​ | Rate
Short-term debt | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial paper | ​ | ​ | $- | ​ | ​ | - | % | ​ | ​ | $55.1 | ​ | ​ | (0.30) | %
Notes payable | ​ |  | 15.5 | ​ | ​ | 7.07 | % | ​ |  | 24.5 | ​ | ​ | 3.53 | %
Long-term debt, current maturities | ​ |  | 1.8 | ​ | ​ | ​ | ​ | ​ |  | 300.9 | ​ | ​ | ​ | ​
Total | ​ | ​ | $17.3 | ​ | ​ | ​ | ​ | ​ | ​ | $380.5 | ​ | ​ | ​ | ​
Schedule of long-term debt obligations including current maturities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ |  |  | 2020 | ​ |  |  | 2019 | ​ |  |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | Stated | ​ | Effective | ​ | ​ | ​ | ​ | Stated | ​ | Effective
​ | ​ | Maturity | ​ | Carrying | ​ | Interest | ​ | Interest | ​ | Carrying | ​ | Interest | ​ | Interest
(millions) | ​ | by Year | ​ | Value | ​ | Rate | ​ | Rate | ​ | Value | ​ | Rate | ​ | Rate
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Long-term debt | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Public notes (2020 principal amount) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Five year 2015 senior notes ($300 million) | ​ | 2020 | ​ |  | - |  | - | % | ​ | - | % | ​ |  | 300.0 |  | 2.25 | % | ​ | 2.79 | %
Ten year 2011 senior notes ($1.02 billion) | ​ | 2021 | ​ |  | - |  | - | % | ​ | - | % | ​ |  | 1,018.3 |  | 4.35 | % | ​ | 4.43 | %
Five year 2017 senior notes ($500 million) | ​ | 2022 | ​ | ​ | 498.6 | ​ | 2.38 | % | ​ | 2.55 | % | ​ | ​ | 497.8 | ​ | 2.38 | % | ​ | 2.55 | %
Seven year 2016 senior notes ($400 million) | ​ | 2023 | ​ | ​ | 399.0 | ​ | 3.25 | % | ​ | 3.49 | % | ​ | ​ | 398.5 | ​ | 3.25 | % | ​ | 3.49 | %
Seven year 2016 senior notes (€575 million) | ​ | 2024 | ​ | ​ | 682.0 | ​ | 1.00 | % | ​ | 1.18 | % | ​ | ​ | 628.4 | ​ | 1.00 | % | ​ | 1.10 | %
Ten year 2015 senior notes (€575 million) | ​ | 2025 | ​ |  | 682.9 |  | 2.63 | % | ​ | 2.85 | % | ​ |  | 630.0 |  | 2.63 | % | ​ | 2.96 | %
Ten year 2016 senior notes ($750 million) | ​ | 2026 | ​ | ​ | 745.3 | ​ | 2.70 | % | ​ | 2.93 | % | ​ | ​ | 744.5 | ​ | 2.70 | % | ​ | 2.93 | %
Ten year 2017 senior notes ($500 million) | ​ | 2027 | ​ | ​ | 496.0 | ​ | 3.25 | % | ​ | 3.37 | % | ​ | ​ | 495.4 | ​ | 3.25 | % | ​ | 3.37 | %
Ten year 2020 senior notes ($750 million) | ​ | 2030 | ​ | ​ | 765.2 | ​ | 4.80 | % | ​ | 4.64 | % | ​ | ​ | - | ​ | - | % | ​ | - | %
Ten year 2020 senior notes ($600 million) | ​ | 2031 | ​ | ​ | 594.4 | ​ | 1.30 | % | ​ | 1.34 | % | ​ | ​ | - | ​ | - | % | ​ | - | %
Thirty year 2011 senior notes ($458 million) | ​ | 2041 | ​ | ​ | 452.2 |  | 5.50 | % | ​ | 5.56 | % | ​ | ​ | 451.9 |  | 5.50 | % | ​ | 5.56 | %
Thirty year 2016 senior notes ($250 million) | ​ | 2046 | ​ | ​ | 246.4 |  | 3.70 | % | ​ | 3.76 | % | ​ | ​ | 246.2 |  | 3.70 | % | ​ | 3.76 | %
Thirty year 2017 senior notes ($700 million) | ​ | 2047 | ​ | ​ | 611.9 | ​ | 3.95 | % | ​ | 4.16 | % | ​ | ​ | 610.4 | ​ | 3.95 | % | ​ | 4.15 | %
Thirty year 2020 senior notes ($500 million) | ​ | 2050 | ​ | ​ | 490.1 | ​ | 2.13 | % | ​ | 2.15 | % | ​ | ​ | - | ​ | - | % | ​ | - | %
Private note (2020 principal amount) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Series B private placement senior notes ($250 million) | ​ | 2023 | ​ |  | - |  | - | % | ​ | - | % | ​ |  | 249.6 |  | 4.32 | % | ​ | 4.36 | %
Finance lease obligations and other | ​ | ​ | ​ |  | 7.1 | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 3.0 | ​ | ​ | ​ | ​ | ​ | ​
Total debt | ​ | ​ | ​ |  | 6,671.1 | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 6,274.0 | ​ | ​ | ​ | ​ | ​ | ​
Long-term debt, current maturities | ​ | ​ | ​ |  | (1.8) | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (300.9) | ​ | ​ | ​ | ​ | ​ | ​
Total long-term debt | ​ | ​ | ​ | ​ | $6,669.3 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $5,973.1 | ​ | ​ | ​ | ​ | ​ | ​
Schedule of aggregate annual maturities of long-term debt | ​
​ | ​ | ​ | ​
(millions) |  | ​ |
2021 | ​ | ​ | $ 2
2022 | ​ |  | 502
2023 | ​ |  | 400
2024 | ​ |  | 683
2025 | ​ |  | 683
Schedule of interest expense and interest income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(millions) | ​ | 2020 |  | 2019 |  | 2018
Interest expense | ​ | ​ | $304.8 | ​ | ​ | ​ | $214.4 | ​ | ​ | ​ | $235.5 | ​
Interest income |  |  | (14.6) | ​ | ​ |  | (23.7) | ​ | ​ |  | (14.4) | ​
Interest expense, net | ​ | ​ | $290.2 | ​ | ​ | ​ | $190.7 | ​ | ​ | ​ | $221.1 | ​

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