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Debt (Tables)
 3 Months Ended
Mar. 31, 2014
Debt Disclosure [Abstract]  
Debt Maturing within One Year
Debt maturing within one year:
(in Millions)
March 31, 2014
 
December 31, 2013
Short-term foreign debt (1)
$
17.8

 
$
7.1

Commercial paper (2)
605.9

 
656.0

Total short-term debt
$
623.7

 
$
663.1

Current portion of long-term debt
34.8

 
34.7

Short-term debt and current portion of long-term debt
$
658.5

 
$
697.8


____________________
(1)     We often provide parent-company guarantees to lending institutions that extend credit to our foreign subsidiaries.
(2)    At March 31, 2014, the average effective interest rate on the borrowings was 0.33%.
Schedule of long-term debt
Long-term debt:
(in Millions)
March 31, 2014
 
 
 
 
Interest Rate
Percentage
 
Maturity
Date
 
3/31/2014
 
12/31/2013
Pollution control and industrial revenue bonds (less unamortized discounts of $0.2 and $0.2, respectively)
0.1-6.5%

 
2014-2035
 
$
174.0

 
$
174.0

Senior notes (less unamortized discount of $2.2 and $2.2, respectively)
3.95-5.2%

 
2019-2024
 
997.8

 
997.8

Credit Facility (1)
2.4
%
 
2017
 
—

 
—

Foreign debt
0-9.3%

 
2014-2024
 
17.0

 
17.0

Total long-term debt

 

 
$
1,188.8

 
$
1,188.8

Less: debt maturing within one year

 

 
34.8

 
34.7

Total long-term debt, less current portion

 

 
$
1,154.0

 
$
1,154.1


____________________
(1)
Letters of credit outstanding under our Credit Facility totaled $73.1 million and available funds under this facility were $821.0 million at March 31, 2014 (which reflects borrowings under our commercial paper program).