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Debt
 3 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
Debt Debt
Short-term debt consisted of the following at March 31, 2024 and December 31, 2023:
(in millions)March 31, 2024December 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%
Long-term debt consisted of the following at March 31, 2024 and December 31, 2023: 
(in millions)March 31, 2024December 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%.
Short and long-term debt maturities, at par value, were as follows at March 31, 2024:  
(in millions)Par Value
2025$750.0 
2026— 
2027— 
2028500.0 
2029— 
Thereafter2,200.0