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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Our financial assets and liabilities that are measured at fair value on a recurring basis are as follows (in millions):

												Fair Value Measurements at Reporting Date Using
As of December 31, 2024						Fair Value						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)						Valuation Technique (1)
Equity securities						$	130.9					$	4.2					$	126.7					$	—					M
Redeemable noncontrolling interests						56.5						—						—						56.5						I
As of December 31, 2023
Equity securities						$	126.2					$	4.0					$	122.2					$	—					M
Redeemable noncontrolling interests						42.0						—						—						42.0						I

(1)The two valuation techniques are: market approach (M) and income approach (I).

Schedule of Carrying Amounts and Estimated Fair Values, Financial Instruments

The carrying amounts and estimated fair values for our other financial instruments are presented in the following table (in millions):

			As of December 31, 2024												As of December 31, 2023
			Carrying Amount						Estimated Fair Value						Carrying Amount						Estimated Fair Value
Long-term debt:
Advances under revolving credit facility			$	20.0					$	20.0					$	—					$	—
5.75% Senior Notes due 2025			99.8						99.7						348.5						349.3
4.50% Senior Notes due 2028			788.4						772.3						785.0						763.6
4.75% Senior Notes due 2030			784.2						759.0						781.5						755.0
4.625% Senior Notes due 2031			392.5						369.9						391.5						369.4
Other notes payable			94.5						94.5						66.0						66.0
Financial commitments:
Letters of credit			—						36.3						—						31.9

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- References

No definition available.

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- Definition

Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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