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Debt | 3 Months Ended
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Mar. 31, 2019
Debt Disclosure [Abstract] |
Debt | Footnote 9 — Debt Debt comprised of the following as of the dates indicated (in millions):
|  | March 31, 2019 |  |  | December 31, 2018 |
2.60% senior notes due 2019 |  | $ | — |  |  | $ | 267.3 |
4.70% senior notes due 2020 |  |  | 304.7 |  |  |  | 304.6 |
3.15% senior notes due 2021 |  |  | 93.5 |  |  |  | 97.5 |
3.75% senior notes due 2021 |  |  | 344.6 |  |  |  | 353.2 |
4.00% senior notes due 2022 |  |  | 249.1 |  |  |  | 249.0 |
3.85% senior notes due 2023 |  |  | 1,741.3 |  |  |  | 1,740.8 |
5.00% senior notes due 2023 |  |  | 309.5 |  |  |  | 310.0 |
4.00% senior notes due 2024 |  |  | 496.6 |  |  |  | 496.4 |
3.90% senior notes due 2025 |  |  | 90.4 |  |  |  | 90.3 |
4.20% senior notes due 2026 |  |  | 1,984.9 |  |  |  | 1,984.5 |
5.375% senior notes due 2036 |  |  | 415.9 |  |  |  | 415.8 |
5.50% senior notes due 2046 |  |  | 657.2 |  |  |  | 657.2 |
Commercial paper |  |  | 258.9 |  |  |  | — |
Receivables facility |  |  | 269.0 |  |  |  | — |
Other debt |  |  | 52.6 |  |  |  | 48.4 |
Total debt |  |  | 7,268.2 |  |  |  | 7,015.0 |
Short-term debt and current portion of long-term debt |  |  | (573.6 | ) |  |  | (318.7 | )
Long-term debt |  | $ | 6,694.6 |  |  | $ | 6,696.3 |
Senior Notes During the three months ended March 31, 2019, the Company repaid approximately $268 million of debt upon maturity of its 2.60% senior notes due March 2019. The Company has designated the €300 million principal balance of the 3.75% senior notes due October 2021 as a net investment hedge of the foreign currency exposure of its net investment in certain Euro-functional currency subsidiaries with Euro-denominated net assets. At March 31, 2019, $3.9 million of deferred gains have been recorded in AOCL. See Footnote 10 for disclosures regarding the Company’s derivative financial instruments. Revolving Credit Facility and Commercial Paper The Company maintains a $1.25 billion revolving credit facility that matures in December 2023 (the “Facility”). Under the Facility, the Company may borrow funds on a variety of interest rate terms. Since the Facility provides the committed backup liquidity required to issue commercial paper, the Company may issue commercial paper up to a maximum of $800 million provided there is a sufficient amount available for borrowing under the Facility. The Facility also provides for the issuance of up to $100 million of letters of credit, so long as there is a sufficient amount available for borrowing under the Facility. Receivables Facility The Company maintains a $950 million receivables purchase agreement that matures in October 2019 (the “Securitization Facility”) and bears interest at a margin over a variable interest rate. At March 31, 2019, the borrowing rate margin and the unused line fee on the Securitization Facility were 0.80% and 0.40% per annum, respectively. Other The fair values of the Company’s senior notes are based on quoted market prices and are as follows ( in millions ):
|  | March 31, 2019 |  |  | December 31, 2018 |
|  | Fair Value |  |  | Book Value |  |  | Fair Value |  |  | Book Value |
Senior notes |  | $ | 6,518.2 |  |  | $ | 6,687.7 |  |  | $ | 6,911.2 |  |  | $ | 6,966.6 |
The carrying amounts of all other significant debt approximates fair value.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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