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Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Components of Debt

Debt consisted of the following at December 31:

(DOLLARS IN THOUSANDS)			Effective Interest Rate						2020						2019
2020 Notes(1)			3.69		%				$	—					$	299,381
2021 Euro Notes(1)			0.82		%				368,234						334,561
2023 Notes(1)			3.30		%				299,311						299,004
2024 Euro Notes(1)			1.88		%				613,564						558,124
2026 Euro Notes(1)			1.93		%				978,134						890,183
2028 Notes(1)			4.57		%				397,006						396,688
2047 Notes(1)			4.44		%				493,992						493,571
2048 Notes(1)			5.12		%				786,216						785,996
2018 Term Loan Facility(1)			3.65		%				239,817						239,621
2022 Term Loan Facility (1)			1.73		%				199,377						—
Amortizing Notes(1)			6.09		%				36,250						82,079
Bank overdrafts and other									1,560						3,131
Deferred realized gains on interest rate swaps									57						57
Total debt									$	4,413,518					$	4,382,396
Less: Short term borrowings(2)									(634,159)						(384,958)
Total Long-term debt									$	3,779,359					$	3,997,438

_______________________ 

(1)Amount is net of unamortized discount and debt issuance costs.

(2)Includes bank borrowings, overdrafts and current portion of long-term debt.

Debt Instrument Redemption

However, no make-whole premium will be paid for redemptions of each note on or after the following date:

Note						Redemption Date
2021 Euro Notes						August 25, 2021
2023 Notes						February 1, 2023
2024 Euro Notes						December 14, 2023
2026 Euro Notes						June 25, 2026
2028 Notes						June 26, 2028
2047 Notes						December 1, 2046
2048 Notes						March 26, 2048

Schedule of Maturities of Long-term Debt

The following table shows the contractual maturities of the Company's long-term debt as of December 31, 2020.

			Payments Due by Period
(DOLLARS IN THOUSANDS)			Total						Less than 1 Year						1-3 Years						3-5 Years						More than 5 Years
Total Outstanding Borrowings			$	4,444,112					$	645,372					$	500,000					$	614,900					$	2,683,840

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- Definition

Tabular disclosure of debt instruments or arrangements with redemption features. Includes, but is not limited to, description of debt redemption features, percentage price at which debt can be redeemed by the issuer, and period start and end for debt maturity or redemption.

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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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Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601

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