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v3.25.1

Borrowings | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
Borrowings | Borrowings Borrowings at March 31, 2025 and December 31, 2024 consisted of the following:
| March 31, 2025 |  | December 31, 2024
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 |
4.950% Senior Notes, due September 2029 (the “4.950% Senior Notes”) | 500.0 |  |  | 500.0 |
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) | 249.0 |  |  | 269.8 |
Other borrowings | 1.4 |  |  | 1.5 |
Total borrowings | 1,950.4 |  |  | 1,971.3 |
Less: current portion | 100.7 |  |  | 100.7 |
Less: unamortized debt issuance costs and discount on debt | 10.6 |  |  | 11.1 |
Long-term borrowings | $ | 1,839.1 |  |  | $ | 1,859.5 |
(1) At March 31, 2025, there was $249.0 million outstanding under the Revolving Facility and $3.0 million of outstanding letters of credit, resulting in a net available borrowing capacity under the Revolving Facility of approximately $548.0 million. The weighted-average interest rate for borrowings outstanding under the Revolving Facility was 3.71% and 4.46% for the three months ended March 31, 2025 and the year ended December 31, 2024, respectively. During April 2025, the Company repaid $12.5 million of the $249.0 million outstanding under the Revolving Facility. At March 31, 2025, 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.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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