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Debt (Tables) | 3 Months Ended
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Mar. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments [Table Text Block] | Long-term debt consisted of the following at March 31, 2024 and December 31, 2023:
(in millions) |  | March 31, 2024 |  | December 31, 2023
$750.0 million fixed rate notes due March 2025, stated rate of 3.00% (1) |  | — |  |  | 749.1 |
$500.0 million fixed rate notes due June 2028, stated rate of 3.75% |  | 498.2 |  |  | 498.1 |
$750.0 million fixed rate notes due March 2032, stated rate of 2.65% |  | 743.1 |  |  | 742.9 |
$750.0 million fixed rate notes due September 2043, stated rate of 5.30% (2) |  | 744.0 |  |  | 744.0 |
$700.0 million fixed rate notes due June 2048, stated rate of 4.15% |  | 691.4 |  |  | 691.3 |
Total long-term debt |  | $ | 2,676.7 |  |  | $ | 3,425.4 |
(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 March 31, 2024 and December 31, 2023:
(in millions) |  | March 31, 2024 |  | December 31, 2023
$750.0 million fixed rate notes due March 2025, stated rate of 3.00% (1) |  | $ | 749.3 |  |  | $ | — |
Total short-term debt |  | $ | 749.3 |  |  | $ | — |
(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%
Schedule of Maturities of Long-term Debt [Table Text Block] | ong-term debt maturities, at par value, were as follows at March 31, 2024:
(in millions) | Par Value
2025 | $ | 750.0 |
2026 | — |
2027 | — |
2028 | 500.0 |
2029 | — |
Thereafter | 2,200.0 |

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