XML 83 R17.htm IDEA: XBRL DOCUMENT v3.25.2
Borrowings
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Borrowings Borrowings
Borrowings at June 30, 2025 and December 31, 2024 consisted of the following: 

June 30, 2025December 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 borrowings1.3 1.5 
Total borrowings1,857.9 1,971.3 
Less: current portion0.8 100.7 
Less: unamortized debt issuance costs and discount on debt10.0 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.

At June 30, 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.