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DEBT (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Debt

Debt at December 31 is detailed as follows:

in millions			Effective Interest Rates			2024			2023
Bank line of credit expires 2029 1						$	0.0		$	0.0
Commercial paper expires 20291						0.0			0.0
Total short-term debt						$	0.0		$	0.0
Bank line of credit expires 2029 1						$	0.0		$	0.0
Commercial paper expires 2029 1						550.0			550.0
4.50% notes due 2025			4.65%			400.0			400.0
5.80% notes due 2026						0.0			550.0
3.90% notes due 2027			4.00%			400.0			400.0
4.95% notes due 2029			5.17%			500.0			0.0
3.50% notes due 2030			3.94%			750.0			750.0
5.35% notes due 2034			5.48%			750.0			0.0
7.15% notes due 2037			8.05%			129.2			129.2
4.50% notes due 2047			4.59%			700.0			700.0
4.70% notes due 2048			5.42%			460.9			460.9
5.70% notes due 2054			5.82%			750.0			0.0
Other notes						1.0			1.4
Total long-term debt - face value						$	5,391.1		$	3,941.5
Unamortized discounts and debt issuance costs						(83.7)			(63.4)
Fair value adjustments 2						0.0			(0.3)
Total long-term debt - book value						$	5,307.4		$	3,877.8
Current maturities						(400.5)			(0.5)
Total long-term debt - reported value						$	4,906.9		$	3,877.3
Estimated fair value of long-term debt						$	4,762.6		$	3,798.0

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 5 for additional information on our fair value hedging strategy.

Schedule of Principal and Interest Debt Payments

The total scheduled (principal and interest) debt payments, excluding the line of credit, for the five years subsequent to December 31, 2024 are as follows:

in millions			Total			Principal			Interest
Scheduled Debt Payments (excluding the line of credit)
2025			$	649.2		$	400.5		$	248.7
2026			233.5			0.4			233.1
2027			624.9			400.0			224.9
2028			217.1			0.0			217.1
2029			1,265.3			1,050.0			215.3

Schedule of Standby Letters of Credit

Our standby letters of credit as of December 31, 2024 are summarized by purpose in the table below:

in millions
Risk management insurance			$	81.4
Reclamation/restoration requirements			23.4
Total standby letters of credit			$	104.8

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