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Debt (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Outstanding Debt | The following table summarizes our outstanding debt obligations.
As of December 31 | 2024 |  | 2023
Commercial paper(a) | $ | 424.5 |  |  | $ | 184.9 |
Short-term loans | 0.5 |  |  | 0.5 |
Current maturities of long-term debt | 2.6 |  |  | 2.3 |
Total short-term borrowings | 427.6 |  |  | 187.7 |
Non-current maturities of long-term debt(b) | 232.6 |  |  | 5.7 |
Total debt | $ | 660.2 |  |  | $ | 193.4 |
(a)The increase in commercial paper outstanding from December 31, 2023 to December 31, 2024 was primarily related to acquisition activity that was partially financed using commercial paper, and timing of repayments. Note 21, Acquisitions, Investments, and Divestitures, for additional information. (b)Long-term debt is primarily related to a term loan that the Company entered into in September 2024 in connection with the acquisition of kSARIA. See additional details in section titled, “U.S. Term Loan”, below.
Schedule of Commercial Paper | The following table presents our outstanding commercial paper borrowings and associated weighted average interest rates.
As of or for the Year Ended December 31 |  | 2024 |  | 2023
Commercial Paper Outstanding - U.S. Program |  | $ | 424.4 |  |  | $ | 184.9 |
Weighted Average Interest Rate - U.S. Program |  | 4.80 | % |  | 5.61 | %
Schedule of Maturities of Long-Term Debt | The following table provides the future maturities related to the outstanding balance as of December 31, 2024.
2025 |  | $ | — |
2026 |  | — |
September 2027 |  | 229.0 |
Total maturities |  | $ | 229.0 |

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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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- Definition Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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