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DEBT (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Debt

Debt is detailed as follows:

in millions			Effective Interest Rates			June 30 2024			December 31 2023			June 30 2023
Bank line of credit expires 2027 1						$	0.0		$	0.0		$	0.0
Commercial paper expires 2027 1						95.0			0.0			0.0
Total short-term debt						$	95.0		$	0.0		$	0.0
Bank line of credit expires 2027 1						$	0.0		$	0.0		$	0.0
Commercial paper expires 2027 1						550.0			550.0			550.0
4.50% notes due 2025 3			4.65%			400.0			400.0			400.0
5.80% notes due 2026						0.0			550.0			550.0
3.90% notes due 2027			4.00%			400.0			400.0			400.0
3.50% notes due 2030			3.94%			750.0			750.0			750.0
7.15% notes due 2037			8.05%			129.2			129.2			129.2
4.50% notes due 2047			4.59%			700.0			700.0			700.0
4.70% notes due 2048			5.42%			460.9			460.9			460.9
Other notes			0.42%			1.0			1.4			1.5
Total long-term debt - face value						$	3,391.1		$	3,941.5		$	3,941.6
Unamortized discounts and debt issuance costs						(58.9)			(63.4)			(65.9)
Fair value adjustments 2						0.0			(0.3)			(2.0)
Total long-term debt - book value						$	3,332.2		$	3,877.8		$	3,873.7
Less current maturities						(0.5)			(0.5)			(0.5)
Total long-term debt - reported value						$	3,331.7		$	3,877.3		$	3,873.2
Estimated fair value of long-term debt						$	3,158.6		$	3,798.0		$	3,715.0

1Borrowings on the bank line of credit and commercial paper are classified as short-term if we intend to repay within twelve months and as long-term if we have the intent and ability to extend payment beyond twelve months.

2See Note 6 for additional information on our fair value hedging strategy.

3We have the intent and ability to refinance these notes due April 2025 on a long-term basis.

Standby Letters of Credit

Our standby letters of credit as of June 30, 2024 are summarized by purpose in the table below:

in millions
Risk management insurance			$	80.3
Reclamation/restoration requirements			14.9
Total standby letters of credit			$	95.2

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Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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