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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2024

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 September 30, 2024 and December 31, 2023:

			September 30, 2024								December 31, 2023
	Input		Carrying				Fair				Carrying				Fair
	Level		Amount				Value				Amount				Value
Financial Assets:
Cash equivalents	Level 1		$	571.9			$	571.9			$	217.7			$	217.7
Financial Liabilities:
Short-term borrowings	Level 2			3.4				3.4				3.9				3.9
Term loan due December 22, 2024	Level 2		0.0				0.0					200.0				200.0
3.15% Senior notes due August 1, 2027	Level 2			424.9				415.1				424.8				406.9
2.3% Senior notes due December 15, 2031	Level 2			399.4				348.8				399.3				338.6
5.6% Senior notes due November 15, 2032	Level 2			499.2				537.4				499.2				535.6
3.95% Senior notes due August 1, 2047	Level 2			397.8				333.8				397.7				333.7
5.00% Senior notes due June 15, 2052	Level 2			499.8				491.3				499.8				498.1
International long-term debt	Level 2			4.2				4.2			0.0				0.0

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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
-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

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- References

No definition available.

+ Details

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