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Long-term Debt (Tables) | 12 Months Ended
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Dec. 31, 2022
Debt Disclosure [Abstract] |
Schedule of Long-term Debt |
|  |  |  |  |  | Fair Value (1)
(in millions) |  | December 31, 2022 |  | December 31, 2021 |  | December 31, 2022 |  | December 31, 2021
2.20% Notes due 2032 |  | $ | 550.0 |  |  | $ | 550.0 |  |  | $ | 417.5 |  |  | $ | 529.7 |
2.75% Notes due 2030 |  | 750.0 |  |  | 750.0 |  |  | 622.3 |  |  | 764.6 |
3.75% Notes due 2027 |  | 600.0 |  |  | 600.0 |  |  | 557.4 |  |  | 645.8 |
3.50% Notes due 2024 |  | 400.0 |  |  | 400.0 |  |  | 386.9 |  |  | 419.8 |
0.55% Notes due 2023 |  | 300.0 |  |  | 300.0 |  |  | 290.7 |  |  | 297.5 |
3.75% Notes due 2022 |  | — |  |  | 350.0 |  |  | — |  |  | 356.2 |
Unamortized discount, debt issuance costs and other |  | (16.7) |  |  | (22.6) |  |  |  |  |
Total long term-debt |  | 2,583.3 |  |  | 2,927.4 |  |  |  |  |
Less: current portion of debt |  | 301.8 |  |  | 352.0 |  |  |  |  |
Long term-debt, less current portion |  | $ | 2,281.5 |  |  | $ | 2,575.4 |  |  |  |  |
(1)The fair value is estimated based on current yield rates plus the Company’s estimated credit spread available for financings with similar terms and maturities. Based on these inputs, debt instruments are classified as Level 2 in the fair value hierarchy.
Summary of Debt Instrument Redemption | The Notes may also be redeemed at any time after the dates noted below, in whole or in part, at the Company's option at 100.0% of the principal amount, plus accrued and unpaid interest.
Debt Instrument |  | Date |  | Spread
2.20% Notes due 2032 |  | December 1, 2031 |  | 20 basis points
2.75% Notes due 2030 |  | December 1, 2029 |  | 20 basis points
3.75% Notes due 2027 |  | September 1, 2027 |  | 25 basis points
3.50% Notes due 2024 |  | October 1, 2024 |  | 20 basis points
0.55% Notes due 2023 |  | September 1, 2022 |  | 7.5 basis points

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- Definition Tabular disclosure of debt instruments or arrangements with redemption features. Includes, but is not limited to, description of debt redemption features, percentage price at which debt can be redeemed by the issuer, and period start and end for debt maturity or redemption. + References No definition available. + Details
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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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