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Derivatives and Hedging Activity (Tables)
 9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Notional and Fair Values of Derivative Instruments
The notional and fair values of derivatives designated as hedging instruments are as follows at September 30, 2025 and December 31, 2024 (in millions):
Derivative AssetsDerivative Liabilities
InstrumentNotional
Amount		Balance Sheet
Classification		Fair
Value		Balance Sheet
Classification		Fair
Value
At September 30, 2025
Interest rate contracts$1,500.0 Other current assets$1.5 Accrued compensation and other current liabilities$19.4 
Other noncurrent assets— Other noncurrent liabilities— 
Foreign exchange contracts (1)2.0 Other current assets10.7 Accrued compensation and other current liabilities0.3 
Other noncurrent assets8.3 Other noncurrent liabilities0.9 
Total$1,502.0 $20.5 $20.6 
At December 31, 2024
Interest rate contracts$— Other current assets$— Accrued compensation and other current liabilities$— 
Other noncurrent assets— Other noncurrent liabilities— 
Foreign exchange contracts (1)24.4 Other current assets6.2 Accrued compensation and other current liabilities2.4 
Other noncurrent assets2.6 Other noncurrent liabilities2.9 
Total$24.4 $8.8 $5.3 
(1)Included within foreign exchange contracts at September 30, 2025 were $522.1 million of call options, offset with $522.1 million of put options, and no buy forwards, offset with $2.0 million of sell forwards. Included within foreign exchange contracts at December 31, 2024 were $595.4 million of call options, offset with $595.4 million of put options, and $1.2 million of buy forwards, offset with $25.6 million of sell forwards.
Summary of Amounts of Derivative Gains (Losses) Recognized In Accumulated Other Comprehensive Loss
The effect of cash flow hedge accounting on accumulated other comprehensive loss for the nine-month periods ended September 30, 2025 and 2024 was as follows (in millions):
InstrumentAmount of
Gain (Loss)
Recognized in
Accumulated
Other
Comprehensive
Loss (1)		Amount of
Gain (Loss)
Reclassified
from
Accumulated
Other
Comprehensive
Loss into
Earnings		Amount of
Gain
Recognized
in Earnings
Related to
Amount
Excluded
from
Effectiveness
Testing		Statement of Earnings
Classification
Three-month period ended September 30, 2025
Interest rate contracts$(7.5)$(0.3)$— Interest expense
Foreign exchange contracts(25.3)(5.9)— Commission revenue
(0.3)— Compensation expense
(0.2)— Operating expense
Total$(32.8)$(6.7)$— 
Three-month period ended September 30, 2024
Interest rate contracts$(5.8)$(0.2)$— Interest expense
Foreign exchange contracts19.6 (1.1)— Commission revenue
(0.6)0.2 Compensation expense
(0.4)0.1 Operating expense
Total$13.8 $(2.3)$0.3 
Nine-month period ended September 30, 2025
Interest rate contracts$(29.1)$(0.9)$— Interest expense
Foreign exchange contracts2.6 (11.1)— Commission revenue
(1.4)0.1 Compensation expense
(0.9)0.1 Operating expense
Total$(26.5)$(14.3)$0.2 
Nine-month period ended September 30, 2024
Interest rate contracts$(8.7)$(0.8)$— Interest expense
Foreign exchange contracts15.8 (1.9)— Commission revenue
(1.5)0.7 Compensation expense
(1.1)0.5 Operating expense
Total$7.1 $(5.3)$1.2 
(1)For the three and nine-month periods ended September 30, 2025, the amount excluded from the assessment of hedge effectiveness for our foreign exchange contracts recognized in accumulated other comprehensive loss was no loss and $0.1 million, respectively. For the three and nine-month periods ended September 30, 2024, the amount excluded from the assessment of hedge effectiveness for our foreign exchange contracts recognized in accumulated other comprehensive loss was a loss of $0.3 million and a loss of $0.1 million, respectively.