XML 27 R16.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Borrowings
 3 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
Borrowings Borrowings
Borrowings at March 31, 2024 and December 31, 2023 consisted of the following: 

March 31, 2024December 31, 2023
3.37% Senior Notes, due June 2025 (the “3.37% Senior Notes”)
100.0 100.0 
5.13% Senior Notes, due June 2028 (the “5.13% Senior Notes”)
100.0 100.0 
3.00% Senior Notes, due May 2030 (the “3.00% Senior Notes”)
500.0 500.0 
2.625% Senior Notes, due June 2031 (the “2.625% Senior Notes”)
500.0 500.0 
$800.0 million Revolving Facility, due November 2027 (the “Revolving Facility”)(1)
78.8 81.0 
$200.0 million Term Facility, due November 2027 (the “Term Facility”)(2)
50.0 50.0 
Other borrowings2.1 2.3 
Total borrowings1,330.9 1,333.3 
Less: current portion0.7 0.6 
Less: deferred debt issuance costs6.3 6.5 
Less: unaccreted debt discount1.0 1.1 
Long-term borrowings$1,322.9 $1,325.1 

(1) At March 31, 2024, there was $78.8 million outstanding under the Revolving Facility and $3.4 million of outstanding letters of credit, resulting in a net available borrowing capacity under the Revolving Facility of approximately $717.8 million. The weighted-average interest rate for borrowings outstanding under the Revolving Facility was 5.02% and 4.22% as of March 31, 2024 and December 31, 2023, respectively.

(2) The weighted-average interest rate for borrowings outstanding under the Term Facility was 6.66% and 6.22% as of March 31, 2024 and December 31, 2023, respectively.

At March 31, 2024, the Company was in compliance with the covenants contained in the credit agreement associated with the Revolving Facility as well as other long-term debt agreements.