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Debt (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments [Table Text Block]

Long-term debt consisted of the following at June 30, 2023 and December 31, 2022: 

(in millions)						June 30, 2023						December 31, 2022
$750.0 million fixed rate notes due March 2025, stated rate of 3.00% (1)						$	748.8					$	748.4
$500.0 million fixed rate notes due June 2028, stated rate of 3.75%						497.9						497.7
$750.0 million fixed rate notes due March 2032, stated rate of 2.65%						742.2						741.7
$750.0 million fixed rate notes due September 2043, stated rate of 5.30% (2)						743.8						743.7
$700.0 million fixed rate notes due June 2048, stated rate of 4.15%						691.1						690.9
Total long-term debt						$	3,423.8					$	3,422.4

(1)The company maintained a forward-starting interest rate swap agreement that modified the interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 3.11%.

(2)The company maintained a forward-starting interest rate swap agreement that modified the interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 4.73%.

Schedule of Short-term Debt

Short-term debt consisted of the following at June 30, 2023 and December 31, 2022:

(in millions)						June 30, 2023						December 31, 2022
€15.0 million fixed rate notes due May 2023, stated rate of 4.30%						$	—					$	16.0
Total short-term debt						$	—					$	16.0

Schedule of Maturities of Long-term Debt [Table Text Block]

Long-term debt maturities, at par value, were as follows at June 30, 2023:  

(in millions)			Par Value
2024			$	—
2025			750.0
2026			—
2027			—
2028			500.0
Thereafter			2,200.0

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