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Debt | 6 Months Ended
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Jun. 30, 2019
Debt Disclosure [Abstract] |
Debt | Debt Debt comprised of the following as of the dates indicated (in millions):
| June 30, 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 | 348.5 |  |  | 353.2 |
4.00% senior notes due 2022 | 249.2 |  |  | 249.0 |
3.85% senior notes due 2023 | 1,741.8 |  |  | 1,740.8 |
5.00% senior notes due 2023 | 309.0 |  |  | 310.0 |
4.00% senior notes due 2024 | 496.7 |  |  | 496.4 |
3.90% senior notes due 2025 | 90.4 |  |  | 90.3 |
4.20% senior notes due 2026 | 1,985.4 |  |  | 1,984.5 |
5.375% senior notes due 2036 | 416.0 |  |  | 415.8 |
5.50% senior notes due 2046 | 657.2 |  |  | 657.2 |
Other debt | 58.8 |  |  | 48.4 |
Total debt | 6,751.2 |  |  | 7,015.0 |
Short-term debt and current portion of long-term debt | (43.4 | ) |  | (318.7 | )
Long-term debt | $ | 6,707.8 |  |  | $ | 6,696.3 |
Senior Notes In March 2019, the Company repaid the entire principal amount outstanding of its 2.60% senior notes due 2019 upon maturity. 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 June 30, 2019, $0.6 million of deferred loss 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 In connection with entering into the Customer Receivables Purchase Agreement, the Company amended its existing receivables purchase agreement (the “Securitization Facility”) on June 18, 2019 to remove certain customer receivables which are subject to the Customer Receivables Purchase Agreement. As a result of the amendment, the parties reduced the aggregate commitment under the Securitization Facility from $950 million to $700 million. The Securitization Facility matures in October 2019 and bears interest at a margin over a variable interest rate. At June 30, 2019, the borrowing rate margin and the unused line fee on the Securitization Facility were 0.80% and 0.40% per annum, respectively. The Company used a portion of the cash proceeds received from the disposal of the Process Solutions and Rexair businesses (see Footnote 2) to pay down short-term debt, including approximately $269 million outstanding under the Company’s Securitization Facility at March 3, 2019. Other The fair values of the Company’s senior notes are based on quoted market prices and are as follows (in millions):
| June 30, 2019 |  | December 31, 2018
| Fair Value |  | Book Value |  | Fair Value |  | Book Value
Senior notes | $ | 6,762.5 |  |  | $ | 6,692.4 |  |  | $ | 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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