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FINANCING ARRANGEMENTS (Tables) | 12 Months Ended
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Dec. 31, 2019
Debt Disclosure [Abstract] |
Short-Term Debt | Short-term debt were as follows:
|  | Year Ended December 31, |  |  |  |  |  |
|  | 2019 |  |  |  | 2018 |  |
|  | Principal |  | Interest |  | Principal |  | Interest
(in millions except percentages) |  | Balance |  | Rate |  | Balance |  | Rate
Corporate commercial paper facility |  | $ | — |  |  | — | % |  | $ | 67.8 |  |  | 2.8 | %
Other short-term loans |  | 2.1 |  |  | 3.7 | % |  | 14.0 |  |  | 0.8 | %
Add: Current portion of long-term debt |  | 0.2 |  |  |  |  | 10.6 |  |  |
Total short-term debt |  | $ | 2.3 |  |  |  |  | $ | 92.4 |  |  |
Maximum month-end short-term debt outstanding during the year |  | $ | 148.2 |  |  |  |  | $ | 248.5 |  |  |
Average amount of short-term debt outstanding during the year |  | 50.1 |  |  |  |  | 121.7 |  |  |
Weighted-average interest rate on short-term debt at year-end |  |  |  | 3.7 | % |  |  |  | 2.5 | %
Long-Term Debt | Long-term debt were as follows:
|  | Year Ended December 31, |  |  |  |  |  |
|  | 2019 |  |  |  | 2018 |  |
|  | Principal |  | Interest |  | Principal |  | Interest
(in millions except percentages) |  | Balance |  | Rate |  | Balance |  | Rate
Term loan 12.6 billion Japanese yen due September 2019 |  | $ | — |  |  | — | % |  | $ | 114.6 |  |  | 0.6 | %
Term loan $175.0 million due August 2020 |  | — |  |  | — | % |  | 131.3 |  |  | 3.9 | %
Fixed rate senior notes $450 million due August 2021 |  | 296.0 |  |  | 4.1 | % |  | 295.7 |  |  | 4.1 | %
Private placement notes 70.0 million euros due October 2024 |  | 78.5 |  |  | 1.0 | % |  | 80.2 |  |  | 1.0 | %
Private placement notes 25.0 million Swiss franc due December 2025 |  | 25.8 |  |  | 0.9 | % |  | 25.4 |  |  | 0.9 | %
Private placement notes 97.0 million euros due December 2025 |  | 108.8 |  |  | 2.1 | % |  | 111.2 |  |  | 2.1 | %
Private placement notes 26.0 million euros due February 2026 |  | 29.2 |  |  | 2.1 | % |  | 29.8 |  |  | 2.1 | %
Private placement notes 58.0 million Swiss franc due August 2026 |  | 60.0 |  |  | 1.0 | % |  | 59.0 |  |  | 1.0 | %
Private placement notes 106.0 million euros due August 2026 |  | 118.9 |  |  | 2.3 | % |  | 121.5 |  |  | 2.3 | %
Private placement notes 70.0 million euros due October 2027 |  | 78.5 |  |  | 1.3 | % |  | 80.2 |  |  | 1.3 | %
Private placement notes 7.5 million Swiss franc due December 2027 |  | 7.8 |  |  | 1.0 | % |  | 7.6 |  |  | 1.0 | %
Private placement notes 15.0 million euros due December 2027 |  | 16.8 |  |  | 2.2 | % |  | 17.2 |  |  | 2.2 | %
Private placement notes 140.0 million Swiss franc due August 2028 |  | 144.7 |  |  | 1.2 | % |  | 142.5 |  |  | 1.2 | %
Private placement notes 70.0 million euros due October 2029 |  | 78.5 |  |  | 1.5 | % |  | 80.2 |  |  | 1.5 | %
Private placement notes 70.0 million euros due October 2030 |  | 78.5 |  |  | 1.6 | % |  | 80.2 |  |  | 1.6 | %
Private placement notes 45.0 million euros due February 2031 |  | 50.5 |  |  | 2.5 | % |  | 51.6 |  |  | 2.5 | %
Private placement notes 65.0 million Swiss franc due August 2031 |  | 67.2 |  |  | 1.3 | % |  | 66.1 |  |  | 1.3 | %
Private placement notes 12.6 billion Japanese yen due September 2031 |  | 115.5 |  |  | 1.0 | % |  | — |  |  | — | %
Private placement notes 70.0 million euros due October 2031 |  | 78.5 |  |  | 1.7 | % |  | 80.2 |  |  | 1.7 | %
Other borrowings, various currencies and rates |  | 4.1 |  |  |  |  | 5.5 |  |  |
|  | $ | 1,437.8 |  |  |  |  | $ | 1,580.0 |  |  |
Less: Current portion |  |  |  |  |  |  |  |
(included in “Notes payable and current portion of long-term debt” in the Consolidated Balance Sheets) |  | 0.2 |  |  |  |  | 10.6 |  |  |
Less: Long-term portion of deferred financing costs |  | 4.5 |  |  |  |  | 4.5 |  |  |
Long-term portion |  | $ | 1,433.1 |  |  |  |  | $ | 1,564.9 |  |  |
Schedule of Maturities of Long-term Debt | The table below reflects the contractual maturity dates of the various long term borrowings were as follows:
(in millions) |  | December 31, 2019
2020 |  | $ | 0.2 |
2021 |  | 297.4 |
2022 |  | 1.3 |
2023 |  | 0.4 |
2024 |  | 78.7 |
2025 and beyond |  | 1,059.8 |
|  | $ | 1,437.8 |

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- Definition Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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