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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Carrying Value and Fair Value of Debt

The carrying value and fair value of debt as of December 31, 2022 and 2021 were as follows:

(In millions)		December 31, 2022								December 31, 2021
		Carrying Value				Fair Value				Carrying Value				Fair Value
Notes, net of underwriting commissions, price    discounts and debt issuance costs		$	2,673.5			$	2,412.6			$	1,789.8			$	1,902.9
2022 Revolving Credit Agreement			—				—				520.0				520.0
2021 Term Loan			—				—				400.0				400.0

Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis as of December 31, 2022 and 2021 were as follows:

(In millions)		Fair Value
		2022					2021
Assets:
Derivative asset financial instruments (level 2)		$	89.6				$	3.6
Deferred compensation program assets (level 2)			14.9					14.6
Total assets		$	104.5				$	18.2
Liabilities:
Derivative liability financial instruments (level 2)		$	4.3				$	0.8

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- References

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- Definition

Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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