v3.25.4

Financing (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2025
Debt Disclosure [Abstract] |
Schedule of Debt Outstanding | The Company had the following debt outstanding as of December 31:
($ in millions) | 2025 |  | 2024
Short-term borrowings: |  |  |
Short-term borrowings and bank overdrafts | $ | 2.4 |  |  | $ | 2.3 |
Long-term debt: |  |  |
Three-Year Term Loans due 2028(a) | $ | 500.0 |  |  | $ | 550.0 |
1.800% senior unsecured notes due 2026 | 500.0 |  |  | 500.0 |
2.400% senior unsecured notes due 2028 | 500.0 |  |  | 500.0 |
2.950% senior unsecured notes due 2031 | 600.0 |  |  | 600.0 |
Revolving Credit Facility due 2030 | — |  |  | — |
Total long-term debt | 2,100.0 |  |  | 2,150.0 |
Less: current portion of long-term debt(a) | (499.8) |  |  | (50.0) |
Less: discounts and debt issuance costs | (6.0) |  |  | (8.0) |
Total long-term debt, net | $ | 1,594.2 |  |  | $ | 2,092.0 |
(a) During February 2025, the Company repaid $50.0 million of the Three-Year Term Loans originally due 2025 and executed an amendment to extend the maturity date to February 2028. As of December 31, 2024, the Company classified $50.0 million and $500.0 million of the Three-Year Terms Loans originally due 2025 as a current liability and long-term liability, respectively, on the Consolidated Balance Sheets.
Schedule of Maturities of Long-Term Debt | As of December 31, 2025, the contractual maturities of the Company’s long-term debt were as follows:
($ in millions) |
2026 | $ | 500.0 |
2027 | — |
2028 | 1,000.0 |
2029 | — |
2030 | — |
Thereafter | 600.0 |
Total principal payments | $ | 2,100.0 |

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