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Debt (Tables)
 6 Months Ended
Jun. 30, 2017
Debt Disclosure [Abstract]  
Debt Maturing within One Year
Debt maturing within one year:
(in Millions)
June 30, 2017
 
December 31, 2016
Short-term foreign debt (1)
$
91.3

 
$
85.5

Commercial paper
—

 
6.3

Total short-term debt
$
91.3

 
$
91.8

Current portion of long-term debt
101.2

 
2.4

Short-term debt and current portion of long-term debt
$
192.5

 
$
94.2


____________________
(1)
At June 30, 2017, the average interest rate on the borrowings was 8.3%. We often provide parent-company guarantees to lending institutions that extend credit to our foreign subsidiaries. Since these guarantees are provided to consolidated subsidiaries the consolidated financial position is not affected by the issuance of these guarantees.
Schedule of long-term debt
Long-term debt:
(in Millions)
June 30, 2017
 
 
 
 
Interest Rate Percentage
 
Maturity
Date
 
June 30, 2017
 
December 31, 2016
Pollution control and industrial revenue bonds (less unamortized discounts of $0.2 and $0.2, respectively)
1.1 - 6.5%
 
2021 - 2032
 
$
51.6

 
$
51.6

Senior notes (less unamortized discount of $1.2 and $1.4, respectively)
3.95 - 5.2%
 
2019 - 2024
 
998.8

 
998.6

2014 Term Loan Facility
2.5%
 
2020
 
550.0

 
750.0

2017 Term Loan Facility
2.5%
 
2022
 
—

 
—

Credit Facility (1)
3.7%
 
2022
 
—

 
—

Foreign debt
0 - 10.8%
 
2018 - 2024
 
107.8

 
10.7

Debt issuance cost
 
 
 
 
(14.7
)
 
(9.7
)
Total long-term debt
 
 
 
 
$
1,693.5

 
$
1,801.2

Less: debt maturing within one year
 
 
 
 
101.2

 
2.4

Total long-term debt, less current portion
 
 
 
 
$
1,592.3

 
$
1,798.8

____________________
(1)
Letters of credit outstanding under our Credit Facility totaled $135.7 million and available funds under this facility were $1,364.3 million at June 30, 2017.