XML 61 R49.htm IDEA: XBRL DOCUMENT v3.23.2
Long-Term Debt and Short-Term Borrowings - Narrative (Details)
6 Months Ended
Jul. 10, 2023
USD ($)
Jun. 23, 2023
USD ($)
Aug. 05, 2022
USD ($)
Aug. 13, 2015
USD ($)
Jun. 30, 2023
USD ($)
Jul. 10, 2023
EUR (€)
Jun. 30, 2023
EUR (€)
Dec. 31, 2022
USD ($)
Jul. 09, 2021
USD ($)
Mar. 18, 2021
USD ($)
Debt Instrument [Line Items]                    
Letters of credit outstanding amount         $ 220,000,000          
Revolving credit facility         $ 583,000,000     $ 178,000,000    
2021 Credit Agreement                    
Debt Instrument [Line Items]                    
Minimum coverage ratio of EBITDA to total interest expense expressed in percentage         200.00%          
Maximum leverage ratio of total debt less available cash to EBITDA expressed in percentage         425.00%          
Maximum leverage ratio during first four quarter that qualified acquisition is consummated         475.00%          
Revolving Credit Agreement | Senior Notes                    
Debt Instrument [Line Items]                    
Minimum coverage ratio of EBITDA to total interest expense expressed in percentage     2.00%              
Maximum leverage ratio of total debt less available cash to EBITDA expressed in percentage     4.25%              
Maximum leverage ratio during first four quarter that qualified acquisition is consummated     4.75%              
2023 Credit Agreement with Wells Fargo | Subsequent Event                    
Debt Instrument [Line Items]                    
Interest rate 1000.00%         1000.00%        
Minimum coverage ratio of EBITDA to total interest expense expressed in percentage 200.00%                  
Maximum leverage ratio of total debt less available cash to EBITDA expressed in percentage 425.00%                  
Maximum leverage ratio during first four quarter that qualified acquisition is consummated 475.00%                  
2023 Credit Agreement with Wells Fargo | Secured Overnight Financing Rate (SOFR) Overnight Index Swap | Subsequent Event                    
Debt Instrument [Line Items]                    
Variable rate (as a percent) 1.00%                  
2023 Credit Agreement with Wells Fargo | Fed Funds Effective Rate Overnight Index Swap Rate | Subsequent Event                    
Debt Instrument [Line Items]                    
Variable rate (as a percent) 0.50%                  
2023 Credit Agreement with Wells Fargo | Unsecured Debt | Subsequent Event                    
Debt Instrument [Line Items]                    
Debt agreement term 5 years                  
2023 Credit Agreement with Wells Fargo, Tranche A Euro Denominated Term Loan | Unsecured Debt | Subsequent Event                    
Debt Instrument [Line Items]                    
Aggregate principal amount | €           € 366,500,000        
2023 Credit Agreement with Wells Fargo, Tranche A, US Dollar Denominated Term Loan | Unsecured Debt | Subsequent Event                    
Debt Instrument [Line Items]                    
Aggregate principal amount $ 350,000,000                  
5.950% Senior Notes | Senior Notes                    
Debt Instrument [Line Items]                    
Aggregate principal amount   $ 1,000,000,000                
Interest rate         5.95%   5.95%      
Percentage of face value   98.174%                
5.950% Senior Notes | Senior Notes | Actual Carrying Value                    
Debt Instrument [Line Items]                    
Senior notes         $ 973,000,000          
5.950% Senior Notes | Senior Notes | On Or After January 1, 2031                    
Debt Instrument [Line Items]                    
Redemption price percentage   100.00%                
5.950% Senior Notes | Senior Notes | US Treasury (UST) Interest Rate                    
Debt Instrument [Line Items]                    
Semi-annual basis adjustment (basis points)         0.40%          
2.500% Senior Notes | Senior Notes                    
Debt Instrument [Line Items]                    
Aggregate principal amount                   $ 500,000,000
Interest rate         2.50%   2.50%      
Percentage of face value                   98.451%
2.500% Senior Notes | Senior Notes | Actual Carrying Value                    
Debt Instrument [Line Items]                    
Senior notes         $ 489,800,000     489,300,000    
4.875% Senior Notes | Senior Notes                    
Debt Instrument [Line Items]                    
Aggregate principal amount       $ 600,000,000            
Interest rate         4.875%   4.875%      
Redemption price percentage       99.24%            
4.875% Senior Notes | Senior Notes | Actual Carrying Value                    
Debt Instrument [Line Items]                    
Senior notes         $ 597,000,000     $ 596,400,000    
Revolving credit facility | 2021 Credit Agreement                    
Debt Instrument [Line Items]                    
Aggregate principal amount                 $ 350,000,000  
Debt agreement term     5 years              
Amounts available to borrow under credit agreement         $ 3,150,000,000          
Revolving credit facility | 2021 Credit Agreement | Minimum                    
Debt Instrument [Line Items]                    
Credit agreement applicable fixed rate spread         0.68%          
Credit agreement applicable daily rate spread         0.00%          
Revolving credit facility | 2021 Credit Agreement | Maximum                    
Debt Instrument [Line Items]                    
Credit agreement applicable fixed rate spread         1.075%          
Credit agreement applicable daily rate spread         0.075%          
Revolving credit facility | Revolving Credit Agreement                    
Debt Instrument [Line Items]                    
Debt agreement term     5 years              
Amounts available to borrow under credit agreement     $ 3,500,000,000              
Interest rate     1000.00%              
Revolving credit facility | Revolving Credit Agreement | Line of Credit                    
Debt Instrument [Line Items]                    
Letters of credit outstanding amount     $ 300,000,000              
Revolving credit facility | Revolving Credit Agreement | Secured Overnight Financing Rate (SOFR) Overnight Index Swap                    
Debt Instrument [Line Items]                    
Variable rate (as a percent)     1.00%              
Revolving credit facility | Revolving Credit Agreement | Secured Overnight Financing Rate (SOFR) Overnight Index Swap | Minimum                    
Debt Instrument [Line Items]                    
Variable rate (as a percent)     0.63%              
Revolving credit facility | Revolving Credit Agreement | Secured Overnight Financing Rate (SOFR) Overnight Index Swap | Maximum                    
Debt Instrument [Line Items]                    
Variable rate (as a percent)     1.10%              
Revolving credit facility | Revolving Credit Agreement | Base Rate | Minimum                    
Debt Instrument [Line Items]                    
Variable rate (as a percent)     0.00%              
Revolving credit facility | Revolving Credit Agreement | Base Rate | Maximum                    
Debt Instrument [Line Items]                    
Variable rate (as a percent)     0.10%              
Revolving credit facility | Revolving Credit Agreement | Fed Funds Effective Rate Overnight Index Swap Rate                    
Debt Instrument [Line Items]                    
Variable rate (as a percent)     0.50%              
Revolving credit facility | 2019 Credit Agreement                    
Debt Instrument [Line Items]                    
Revolving credit facility     $ 583,000,000              
Revolving credit facility | 2019 Credit Agreement | Line of Credit                    
Debt Instrument [Line Items]                    
Letters of credit outstanding amount     $ 0              
Revolving credit facility | 2027 Credit Agreement | Turner & Townsend                    
Debt Instrument [Line Items]                    
Amounts available to borrow under credit agreement | €             € 120,000,000      
Revolving credit facility         $ 0          
Additional accordion option | €             20,000,000      
Euro term loan facility | 2021 Credit Agreement                    
Debt Instrument [Line Items]                    
Aggregate principal amount | €             € 400,000,000      
Borrowings outstanding         $ 436,200,000          
Euro term loan facility | 2021 Credit Agreement | Senior Notes | Europe Interbank Offered Rate (EURIBOR) | Minimum                    
Debt Instrument [Line Items]                    
Variable rate (as a percent)         0.75%