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Debt | 12 Months Ended
--- | ---
Dec. 31, 2021
Long-term Debt, Current and Noncurrent [Abstract] |
Debt | DEBT Debt consisted of the following:
At the End of Year |  |  |  | Effective interest rate |  |  |  |  |
(In millions, except percentages) |  | Date of Issuance |  | for 2021 |  | 2021 |  | 2020 |
Senior Notes: |  |  |  |  |  |  |  |  |
2023 Senior Notes, 4.15%, due June 2023 |  | June 2018 |  | 4.36% |  | $ | 300.0 |  |  | $ | 300.0 |  |
2028 Senior Notes, 4.90%, due June 2028 |  | June 2018 |  | 5.04% |  | 600.0 |  |  | 600.0 |  |
2024 Senior Notes, 4.75%, due December 2024 |  | November 2014 |  | 4.95% |  | 400.0 |  |  | 400.0 |  |
Credit Facilities: |  |  |  |  |  |  |  |  |
Uncommitted facilities, floating rate |  |  |  |  |  | — |  |  | 255.8 |  |
Promissory notes and other debt |  |  |  |  |  | — |  |  | 0.1 |  |
Unamortized discount and issuance costs |  |  |  |  |  | (6.8) |  |  | (8.7) |  |
Total debt |  |  |  |  |  | 1,293.2 |  |  | 1,547.2 |  |
Less: Short-term debt |  |  |  |  |  | — |  |  | 255.8 |  |
Long-term debt |  |  |  |  |  | $ | 1,293.2 |  |  | $ | 1,291.4 |  |
Each of our debt agreements requires us to maintain compliance with certain debt covenants, all of which we complied with at the end of 2021. Debt Maturities At the end of 2021, our debt maturities based on outstanding principal were as follows:
(In million) |
2022 | $ | — |
2023 | 300.0 |
2024 | 400.0 |
2025 | — |
2026 | — |
Thereafter | 600.0 |
Total | $ | 1,300.0 |
Senior Notes All series of senior notes in the above table bear interest that is payable semi-annually in June and December of each year. For the 2023 and 2028 senior notes, the interest rate is subject to adjustment from time to time if Moody’s or S&P (or, if applicable, a substitute rating agency) downgrades (or subsequently upgrades) its rating assigned to the notes. Senior Notes are unsecured and rank equally in right of payment with all of our other senior unsecured indebtedness. We may redeem the notes of each series of senior notes at our option in whole or in part at any time. Such indenture also contains covenants limiting our ability to create certain liens, enter into sale and lease-back transactions, and consolidate or merge with or into, or convey, transfer, or lease all or substantially all of our properties and assets, each subject to certain exceptions. 2018 Credit Facility At the end of 2021, we had access to a $1.25 billion unsecured revolving credit facility maturing in May 2023, which may be used for working capital and general corporate purposes, including permitted acquisitions. As part of the credit facility, we may request an additional term loan facility up to $500.0 million prior to the maturity of the credit facility and subject to approval. Uncommitted Facilities At the end of 2021, we had one £55.0 million, two $75.0 million, and one €100.0 million revolving credit facilities, which are uncommitted (the “Uncommitted Facilities”). Generally, these uncommitted facilities may be redeemed upon demand. Borrowings under uncommitted facilities are classified as short-term debt in our Consolidated Balance Sheet.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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