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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2023
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, 2023 and 2022:
|  |  | December 31, 2023 |  |  | December 31, 2022 |
| Input |  | Carrying |  |  | Fair |  |  | Carrying |  |  | Fair |
| Level |  | Amount |  |  | Value |  |  | Amount |  |  | Value |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents | Level 1 |  | $ | 217.7 |  |  | $ | 217.7 |  |  | $ | 153.9 |  |  | $ | 153.9 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term borrowings | Level 2 |  |  | 3.9 |  |  |  | 3.9 |  |  |  | 74.0 |  |  |  | 74.0 |
Term loan due December 22, 2024 | Level 2 |  |  | 200.0 |  |  |  | 200.0 |  |  |  | 400.0 |  |  |  | 400.0 |
3.15% Senior notes due August 1, 2027 | Level 2 |  |  | 424.8 |  |  |  | 406.9 |  |  |  | 424.8 |  |  |  | 397.3 |
2.3% Senior notes due December 15, 2031 | Level 2 |  |  | 399.3 |  |  |  | 338.6 |  |  |  | 399.3 |  |  |  | 321.3 |
5.6% Senior notes due November 15, 2032 | Level 2 |  |  | 499.2 |  |  |  | 535.6 |  |  |  | 499.1 |  |  |  | 518.9 |
3.95% Senior notes due August 1, 2047 | Level 2 |  |  | 397.7 |  |  |  | 333.7 |  |  |  | 397.6 |  |  |  | 316.7 |
5.0% Senior notes due June 15, 2052 | Level 2 |  |  | 499.8 |  |  |  | 498.1 |  |  |  | 499.7 |  |  |  | 464.7 |

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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 -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -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 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-11 + Details
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