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Long-Term Debt
 3 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
Long-Term Debt Long-Term Debt
Balance at
Long-Term Debt (in millions):March 31, 2024December 31, 2023
$1.15 billion credit facility due March 2026
$— $— 
0.95% Fixed Rate Senior Notes due April 2024
450.0 450.0 
Term loan due October 2024, variable rate of 6.68% at March 31, 2024 and 6.71% at December 31, 2023, swapped to a Euro fixed rate of 0.61%
150.0 150.0 
1.60% Fixed Rate Senior Notes due April 2026
450.0 450.0 
2.25% Fixed Rate Senior Notes due April 2028
700.0 700.0 
2.50% Fixed Rate Senior Notes due August 2030
485.0 485.0 
2.75% Fixed Rate Senior Notes due April 2031
1,030.0 1,030.0 
Other debt1.3 1.0 
Debt discount and debt issuance costs(20.0)(21.1)
Total debt, net3,246.3 3,244.9 
Less: Current portion of long-term debt(600.2)(600.1)
Total long-term debt, net of current portion$2,646.1 $2,644.8 
At March 31, 2024, $1,128.2 million was available under the $1.15 billion credit facility, after a reduction of $21.8 million in outstanding letters of credit. The Company’s bank credit agreements requires it to comply with various financial and operating covenants and at March 31, 2024, the Company was in compliance with these covenants. Subsequent to the end of the first quarter of 2024, the Company made a $450 million debt maturity payment on the Senior Notes due April 2024.
Teledyne estimates the fair value of its long-term debt based on debt of similar type, rating and maturity and at comparable interest rates. The Company’s long-term debt is considered a level 2 input in the fair value hierarchy and is valued based on observable market data. As of March 31, 2024 and December 31, 2023, the aggregate fair values of our borrowings were $2,945.5 million and $2,965.3 million, respectively, and the carrying values were $3,266.3 million and $3,266.0 million, respectively.