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Fair Value Measurements, Equity Investments and Other Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2023
Fair Value Disclosures [Abstract] |
Fair Value Hierarchy of Financial Instruments | The fair value, measured on a recurring basis, of our financial instruments, using the fair value hierarchy under U.S. GAAP are included in the table below.
|  | December 31, 2023
(In millions) |  | Total Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Cash equivalents |  | $ | 40.2 |  |  | $ | 40.2 |  |  | $ | — |  |  | $ | — |
Derivative financial and hedging instruments net asset (liability): |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 0.8 |  |  | $ | — |  |  | $ | 0.8 |  |  | $ | — |
Cross-currency swaps |  | $ | (19.9) |  |  | $ | — |  |  | $ | (19.9) |  |  | $ | — |
|  | December 31, 2022
(In millions) |  | Total Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Cash equivalents |  | $ | 122.5 |  |  | $ | 122.5 |  |  | $ | — |  |  | $ | — |
Derivative financial and hedging instruments net asset: |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 4.7 |  |  | $ | — |  |  | $ | 4.7 |  |  | $ | — |
Carrying Value of Investments Without Readily Determinable Fair Value | The following carrying value of these investments were included within Other non-current assets in our Consolidated Balance Sheets.
|  | December 31,
(In millions) |  | 2023 |  | 2022 |  | 2021
Carrying value at the beginning of period |  | $ | 13.3 |  |  | $ | 45.8 |  |  | $ | 25.4 |
Purchases |  | — |  |  | — |  |  | 14.7 |
Impairments or downward adjustments |  | — |  |  | (31.6) |  |  | — |
Upward adjustments |  | — |  |  | — |  |  | 6.6 |
Currency translation on investments |  | 0.5 |  |  | (0.9) |  |  | (0.9) |
Carrying value at the end of period |  | $ | 13.8 |  |  | $ | 13.3 |  |  | $ | 45.8 |
Carrying Amounts and Estimated Fair Values of Debt | The table below shows the carrying amounts and estimated fair values of our debt, excluding our lease liabilities:
|  |  |  | December 31, 2023 |  | December 31, 2022
(In millions) |  | Interest rate |  | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
Term Loan A due March 2027(1) |  |  |  | $ | 1,050.1 |  |  | $ | 1,050.1 |  |  | $ | 506.6 |  |  | $ | 506.6 |
Senior Notes due September 2023(1) |  | 4.500 | % |  | — |  |  | — |  |  | 426.0 |  |  | 427.3 |
Senior Notes due December 2024 |  | 5.125 | % |  | — |  |  | — |  |  | 423.5 |  |  | 419.7 |
Senior Notes due September 2025 |  | 5.500 | % |  | 399.1 |  |  | 400.7 |  |  | 398.7 |  |  | 398.6 |
Senior Secured Notes due October 2026 |  | 1.573 | % |  | 597.0 |  |  | 539.5 |  |  | 596.0 |  |  | 521.7 |
Senior Notes due December 2027 |  | 4.000 | % |  | 422.5 |  |  | 399.4 |  |  | 421.9 |  |  | 386.6 |
Senior Notes due February 2028 |  | 6.125 | % |  | 764.8 |  |  | 780.8 |  |  | — |  |  | — |
Senior Notes due April 2029 |  | 5.000 | % |  | 421.7 |  |  | 410.8 |  |  | 421.2 |  |  | 400.2 |
Senior Notes due February 2031 |  | 7.250 | % |  | 420.9 |  |  | 450.3 |  |  | — |  |  | — |
Senior Notes due July 2033 |  | 6.875 | % |  | 446.7 |  |  | 477.0 |  |  | 446.4 |  |  | 448.8 |
Other foreign borrowings(1) |  |  |  | 94.1 |  |  | 94.1 |  |  | 6.6 |  |  | 6.6 |
Other domestic borrowings |  |  |  | 65.9 |  |  | 65.0 |  |  | 7.9 |  |  | 7.9 |
Total debt(2) |  |  |  | $ | 4,682.8 |  |  | $ | 4,667.7 |  |  | $ | 3,654.8 |  |  | $ | 3,524.0 |
(1)Includes borrowings denominated in currencies other than U.S. dollars. (2)The carrying amount and estimated fair value of debt exclude lease liabilities.

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