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v3.25.2

Borrowings (Tables) | 6 Months Ended
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Jun. 30, 2025
Debt Disclosure [Abstract] |
Schedule of Borrowings | Borrowings at June 30, 2025 and December 31, 2024 consisted of the following:
| June 30, 2025 |  | December 31, 2024
3.37% Senior Notes, due June 2025 (the “3.37% Senior Notes”)(1) | $ | — |  |  | $ | 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) | 256.6 |  |  | 269.8 |
Other borrowings | 1.3 |  |  | 1.5 |
Total borrowings | 1,857.9 |  |  | 1,971.3 |
Less: current portion | 0.8 |  |  | 100.7 |
Less: unamortized debt issuance costs and discount on debt | 10.0 |  |  | 11.1 |
Long-term borrowings | $ | 1,847.1 |  |  | $ | 1,859.5 |
(1) During June 2025, the Company drew down an aggregate amount of $50.0 million under the Revolving Facility. These funds and cash on hand were used to repay the 3.37% Senior Notes upon their maturity. The draw of $50.0 million under the Revolving Facility was repaid on June 30, 2025. At June 30, 2025, there was $256.6 million outstanding under the Revolving Facility and $2.8 million of outstanding letters of credit, resulting in a net available borrowing capacity under the Revolving Facility of approximately $540.6 million. The weighted-average interest rate for borrowings outstanding under the Revolving Facility was 3.24% and 3.48% for the three and six months ended June 30, 2025, respectively, and 4.46% for the year ended December 31, 2024.

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