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v3.23.1

Borrowings (Tables) | 3 Months Ended
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Mar. 31, 2023
Debt Disclosure [Abstract] |
Schedule of Borrowings | Borrowings at March 31, 2023 and December 31, 2022 consisted of the following:
| March 31, 2023 |  | December 31, 2022
3.20% Senior Notes, due June 2023(1) | $ | 100.0 |  |  | $ | 100.0 |
3.37% Senior Notes, due June 2025 | 100.0 |  |  | 100.0 |
3.00% Senior Notes, due May 2030 | 500.0 |  |  | 500.0 |
2.625% Senior Notes, due June 2031 | 500.0 |  |  | 500.0 |
$800.0 million Revolving Credit Facility, due November 2027(2) | 79.4 |  |  | 77.7 |
$200.0 million Term Facility, due November 2027(3) | 200.0 |  |  | 200.0 |
Other borrowings | 0.1 |  |  | 0.1 |
Total borrowings | 1,479.5 |  |  | 1,477.8 |
Less current portion | — |  |  | — |
Less deferred debt issuance costs | 7.6 |  |  | 7.9 |
Less unaccreted debt discount | 1.2 |  |  | 1.2 |
Long-term borrowings | $ | 1,470.7 |  |  | $ | 1,468.7 |
(1) As of March 31, 2023, the $100.0 million 3.20% Senior Notes, due in June 2023, have not been classified as Short-term borrowings on the Condensed Consolidated Balance Sheets as the Company has the ability and intent to either refinance or repay these Notes using the available borrowing capacity of the Revolving Credit Facility, due November 2027. As a result, the 3.20% Senior Notes remain classified as Long-term borrowings on the Condensed Consolidated Balance Sheets as of March 31, 2023. (2) At March 31, 2023, there was $79.4 million outstanding under the Revolving Credit Facility with an interest rate of 3.32% and $7.5 million of outstanding letters of credit, resulting in a net available borrowing capacity under the Revolving Credit Facility of approximately $713.1 million. (3) The $200.0 million outstanding under the Term Facility bears an interest rate of 5.83%.

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