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Debt (Tables)
 3 Months Ended
Mar. 31, 2016
Debt Disclosure [Abstract]  
Debt Maturing within One Year
Debt maturing within one year:
(in Millions)
March 31, 2016
 
December 31, 2015
Short-term foreign debt (1)
$
76.7

 
$
87.2

Commercial paper (2)
35.7

 
23.9

Total short-term debt
$
112.4

 
$
111.1

Current portion of long-term debt
1.8

 
1.5

Short-term debt and current portion of long-term debt
$
114.2

 
$
112.6


____________________
(1)
At March 31, 2016, the average interest rate on the borrowings was 9.2%. We often provide parent-company guarantees to lending institutions that extend credit to our foreign subsidiaries.
(2)
At March 31, 2016, the average interest rate on the borrowings was 0.65%.
Schedule of long-term debt
Long-term debt:
(in Millions)
March 31, 2016
 
 
 
 
Interest Rate
Percentage
 
Maturity
Date
 
March 31, 2016
 
December 31, 2015
Pollution control and industrial revenue bonds (less unamortized discounts of $0.2 and $0.2, respectively)
0.6-6.5%
 
2021-2035
 
$
141.5

 
$
141.5

Senior notes (less unamortized discount of $1.6 and $1.7, respectively)
3.95-5.2%
 
2019-2024
 
998.4

 
998.3

Term Loan Facility
1.8%
 
2020
 
850.0

 
900.0

Credit Facility (1)
2.9%
 
2019
 
—

 
—

Foreign debt
0-9.3%
 
2016-2024
 
10.2

 
9.9

Debt issuance cost
 
 
 
 
(12.1
)
 
(11.9
)
Total long-term debt

 

 
$
1,988.0

 
$
2,037.8

Less: debt maturing within one year

 

 
1.8

 
1.5

Total long-term debt, less current portion

 

 
$
1,986.2

 
$
2,036.3

____________________
(1)
Letters of credit outstanding under our Credit Facility totaled $53.6 million and available funds under this facility were $1,410.7 million at March 31, 2016, which reflects borrowings under our commercial paper program.