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Debt
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Debt Debt
December 31 (dollars in millions)20242023
Revolving credit agreement borrowings, average year-end interest rates of 5.3% for 2024
30.0 — 
Fixed rate agreements, expiring 2027-2034, average year-end interest rates of 4.6% for 2024 and 3.1% for 2023
163.2 127.3 
193.2 127.3 
Long-term debt due within one year(10.0)(10.0)
Long-term debt$183.2 $117.3 
In 2024, the Company renewed and amended its $500 million multi-year multi-currency revolving credit agreement with a new expiration date of August 23, 2029. The facility has an accordion provision which allows it to be increased up to $1 billion if certain conditions (including lender approval) are satisfied. Borrowings under the Company’s bank credit lines and commercial paper borrowings are supported by the $500 million revolving credit agreement. As a result of the long-term nature of this facility, the Company’s credit line borrowings are classified as long-term debt at December 31, 2024. At its option, the Company either maintains cash balances or pays fees for bank credit and services. The Company has fixed-rate interest expense obligations of $23.9 million on outstanding debt as of December 31, 2024. Scheduled maturities of long-term debt within each of the five years subsequent to December 31, 2024 are as follows:
Years ending December 31 (dollars in millions)Amount
2025$10.0 
202639.7 
202739.7 
202825.5 
202955.5