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Commitments, Contingencies and Off-Balance Sheet Arrangements (Tables) | 12 Months Ended
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Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract] |
Contractual Obligations | Our future minimum cash payments, including interest, associated with our contractual obligations pursuant to the Senior Notes, Note purchase agreements, Credit Agreement, Premium Financing Debt Facility, operating leases and purchase commitments at December 31, 2022 were as follows (in millions):
|  | Payments Due by Period |
Contractual Obligations |  | 2023 |  |  | 2024 |  |  | 2025 |  |  | 2026 |  |  | 2027 |  |  | Thereafter |  |  | Total |
Senior Notes |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,600.0 |  |  | $ | 1,600.0 |
Note purchase agreements |  |  | 250.0 |  |  |  | 475.0 |  |  |  | 200.0 |  |  |  | 640.0 |  |  |  | 478.0 |  |  |  | 2,205.0 |  |  |  | 4,248.0 |
Credit Agreement |  |  | 60.0 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 60.0 |
Premium Financing Debt Facility |  |  | 241.9 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 241.9 |
Interest on debt |  |  | 229.0 |  |  |  | 212.3 |  |  |  | 197.7 |  |  |  | 178.8 |  |  |  | 160.4 |  |  |  | 1,408.1 |  |  |  | 2,386.3 |
Total debt obligations |  |  | 780.9 |  |  |  | 687.3 |  |  |  | 397.7 |  |  |  | 818.8 |  |  |  | 638.4 |  |  |  | 5,213.1 |  |  |  | 8,536.2 |
Operating lease obligations |  |  | 98.6 |  |  |  | 84.2 |  |  |  | 67.7 |  |  |  | 54.3 |  |  |  | 41.7 |  |  |  | 72.6 |  |  |  | 419.1 |
Less sublease arrangements |  |  | (0.9 | ) |  |  | (0.6 | ) |  |  | (0.3 | ) |  |  | (0.3 | ) |  |  | (0.2 | ) |  |  | — |  |  |  | (2.3 | )
Outstanding purchase obligations |  |  | 117.4 |  |  |  | 86.8 |  |  |  | 36.1 |  |  |  | 16.8 |  |  |  | 12.3 |  |  |  | 14.6 |  |  |  | 284.0 |
Total contractual obligations |  | $ | 996.0 |  |  | $ | 857.7 |  |  | $ | 501.2 |  |  | $ | 889.6 |  |  | $ | 692.2 |  |  | $ | 5,300.3 |  |  | $ | 9,237.0 |
Off-Balance Sheet Commitments | Off-Balance Sheet Commitments - Our total unrecorded commitments associated with outstanding letters of credit, financial guarantees and funding commitments at December 31, 2022 were as follows (in millions):
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Total |
|  | Amount of Commitment Expiration by Period |  |  | Amounts |
Off-Balance Sheet Commitments |  | 2023 |  |  | 2024 |  |  | 2025 |  |  | 2026 |  |  | 2027 |  |  | Thereafter |  |  | Committed |
Letters of credit |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 13.0 |  |  | $ | 13.0 |
Financial guarantees |  |  | 1.4 |  |  |  | 2.0 |  |  |  | 0.2 |  |  |  | 0.1 |  |  |  | 0.1 |  |  |  | — |  |  |  | 3.8 |
Total commitments |  | $ | 1.4 |  |  | $ | 2.0 |  |  | $ | 0.2 |  |  | $ | 0.1 |  |  | $ | 0.1 |  |  | $ | 13.0 |  |  | $ | 16.8 |
Outstanding Letters of Credit and Funding Commitments | Our commitments associated with outstanding letters of credit, financial guarantees and funding commitments at December 31, 2022 were as follows (all dollar amounts in table are in millions):
Description, Purpose and Trigger |  | Collateral |  | Compensation to Us |  | Maximum Exposure |  |  | Liability Recorded |
Other investments |  |  |  |  |  |  |  |  |  |
Funding commitment to an equity investment - to be funded in 2023 |  | None |  | None |  | $ | — |  |  | $ | — |
Trigger - Agreed conditions met |  |  |  |  |  |  |  |  |  |
Other |  |  |  |  |  |  |  |  |  |
Credit support under letters of credit (LOC) for deductibles due by us on our own insurance coverages - expires after 2026 |  | None |  | None |  |  | 9.2 |  |  |  | 17.4 |
Trigger - We do not reimburse the insurance companies for deductibles the insurance companies advance on our behalf |  |  |  |  |  |  |  |  |  |
Credit enhancement under letters of credit for our captive insurance operations to meet minimum statutory capital requirements - expires after 2026 |  | None |  | Reimbursement of LOC fees |  |  | 2.5 |  |  |  | — |
Trigger - Dissolution or catastrophic financial results of the operation |  |  |  |  |  |  |  |  |  |
Collateral related to claims funds held in a fiduciary capacity by a recent acquisition - expires 2023 |  | None |  | None |  |  | 0.8 |  |  |  | — |
Trigger - Claim payments are not made |  |  |  |  |  |  |  |  |  |
Credit support under letters of credit in lieu of security deposits for two leases from acquisitions - expires after 2023 and 2026 |  | None |  | None |  |  | 0.5 |  |  |  | — |
Trigger - Lease payments do not get made |  |  |  |  |  |  |  |  |  |
Financial guarantees of loans to 5 Canadian-based employees - expires when loan balances are reduced to zero through May 2029 - Principal and interest are paid quarterly |  | (1) |  | None |  |  | 0.8 |  |  |  | — |
Trigger - Default on loan payments |  |  |  |  |  |  |  |  |  |
Financial guarantee of external loan to subsidiary in Chile - expires when loan balance is reduced to zero through July 2024 - Principal and interest are paid quarterly |  | None |  | None |  |  | 3.0 |  |  |  | — |
Trigger - Default on loan payments |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  | $ | 16.8 |  |  | $ | 17.4 |
(1) The guarantees are collateralized by shares in minority holdings of our Canadian operating companies.

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