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Financial Instruments and Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2024
Fair Value Disclosures [Abstract] |
Unrealized gains recognized on equity securities | The following is the portion of unrealized gains recognized during the years ended December 31, 2024 and 2023, related to equity securities still held at December 31:
| 2024 |  | 2023
Net gains (losses) recognized during the period on equity securities | $ | (7.0) |  |  | $ | 5.2 |
Less: Net gains recognized during the period on equity securities sold during the period | — |  |  | — |
Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date | $ | (7.0) |  |  | $ | 5.2 |
Summary Of Carrying Values And Fair Values Of Fixed Rate Debt | A summary of the aggregate carrying values and fair values of our senior unsecured notes at December 31 is as follows:
| 2024 |  | 2023
Carrying value | $ | 2,782.1 |  |  | $ | 3,228.1 |
Fair value | $ | 2,578.6 |  |  | $ | 2,979.3 |
Nonfinancial Assets Measured and Recorded At Fair Value On A Nonrecurring Basis | The following table presents assets measured and recorded at fair value on a nonrecurring basis during the years ended December 31, 2024 and 2023:
| 2024 |  | 2023
Description | Fair Value Measurements Using Significant Unobservable Inputs (Level 3) |  | Gain/(Loss) |  | Fair Value Measurements Using Significant Unobservable Inputs (Level 3) |  | Gain/(Loss)
Equity investments | $ | 48.3 |  |  | $ | (8.4) |  |  | $ | — |  |  | $ | — |
Franchise rights and other intangible assets | $ | — |  |  | $ | (12.5) |  |  | $ | — |  |  | $ | (2.3) |
Long-lived assets held and used | $ | — |  |  | $ | (9.3) |  |  | $ | — |  |  | $ | (2.9) |
Fair Value Measurement Inputs and Valuation Techniques | Quantitative Information about Level 3 Fair Value Measurements
Description |  | Fair Value at December 31, 2024 |  | Valuation Technique |  | Unobservable Input |  | Range (Average)
Franchise rights |  | $ | — |  |  | Discounted cash flow |  | Weighted average cost of capital |  | 10.0 | %
|  |  |  |  |  | Discount rate |  | 13.5% - 15.0% (14.3%)
|  |  |  |  |  | Long-term revenue growth rate |  | 2.0 | %
|  |  |  |  |  | Long-term pretax loss margin |  | 2.7% - 6.4% (4.6%)
|  |  |  |  |  | Contributory asset charges |  | 5.5% - 6.4% (6.0%)

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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