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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Carrying Amounts and Estimated Fair Values of Other Financial Instruments

The following table presents the carrying amounts and estimated fair values of the Company’s other financial instruments at December 31, 2021 and December 31, 2020:

			December 31, 2021								December 31, 2020
	Input		Carrying				Fair				Carrying				Fair
	Level		Amount				Value				Amount				Value
Financial Assets:
Cash equivalents	Level 1		$	17.1			$	17.1			$	73.7			$	73.7
Financial Liabilities:
Short-term borrowings	Level 2			252.8				252.8				351.4				351.4
Term loan due May 1, 2022	Level 2			0.0				0.0				300.0				300.0
2.45% Senior notes due August 1, 2022	Level 2			300.0				302.9				299.9				310.1
2.875% Senior notes due October 1, 2022	Level 2			399.9				406.4				399.9				416.6
Term loan due December 22, 2024	Level 2			400.0				400.0				0.0				0.0
3.15% Senior notes due August 1, 2027	Level 2			424.7				450.1				424.7				472.4
2.3% Senior notes due December 15, 2031	Level 2			399.2				403.5				0.0				0.0
3.95% Senior notes due August 1, 2047	Level 2			397.5				471.6				397.4				502.2
Interest Rate Swap Lock Agreement liability	Level 2			41.6				41.6				57.0				57.0
Business Acquisition Liabilities	Level 3			34.0				34.0				118.0				118.0

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- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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X

- References

No definition available.

+ Details

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