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FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Financial Instruments Measured at Fair Value on a Recurring Basis

The following table summarizes the Company's financial instruments which are measured at fair value on a recurring basis as of December 31, 2023 and 2022 (in millions):

December 31, 2023			Level 1						Level 2						Level 3						Total
Assets
Cash equivalents			$	579.2					$	—					$	—					$	579.2
Available-for-sale investments:
Corporate debt securities			—						641.8						—						641.8
Asset-backed securities			—						184.3						—						184.3
United States government and agency securities			—						70.0						—						70.0
Municipal securities			—						2.6						—						2.6
Investments held for deferred compensation plans			125.8						—						—						125.8
Derivatives			—						47.1						—						47.1
			$	705.0					$	945.8					$	—					$	1,650.8
Liabilities
Derivatives			$	—					$	15.2					$	—					$	15.2
Other			—						—						10.3						10.3
			$	—					$	15.2					$	10.3					$	25.5
December 31, 2022
Assets
Cash equivalents			$	280.4					$	—					$	—					$	280.4
Available-for-sale investments:
Corporate debt securities			—						980.3						—						980.3
Asset-backed securities			—						366.6						—						366.6
United States government and agency securities			37.1						94.5						—						131.6
Municipal securities			—						2.5						—						2.5
Investments held for deferred compensation plans			112.1						—						—						112.1
Derivatives			—						65.5						—						65.5
			$	429.6					$	1,509.4					$	—					$	1,939.0
Liabilities
Derivatives			$	—					$	27.2					$	—					$	27.2
Contingent consideration liabilities			—						—						26.2						26.2
Other			—						—						14.0						14.0
			$	—					$	27.2					$	40.2					$	67.4

Schedule of Changes in Fair Value of Contingent Consideration Obligation

The following table summarizes the changes in fair value of Level 3 financial instruments measured at fair value on a recurring basis for the years ended December 31, 2023 and 2022 (in millions):

			Contingent Consideration						Other						Total
Fair value, December 31, 2021			$	62.0					$	14.0					$	76.0
Changes in fair value			(35.8)						—						(35.8)
Fair value, December 31, 2022			$	26.2					$	14.0					$	40.2
Changes in fair value			(26.2)						(3.7)						(29.9)
Fair value, December 31, 2023			$	—					$	10.3					$	10.3

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- References

No definition available.

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-3

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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