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Debt (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Debt Maturing Within One Year

Debt maturing within one year consists of the following:

			December 31,
(in Millions)			2024						2023
Short-term foreign debt (1)			$	135.7					$	98.0
Commercial paper (2)			125.6						739.5
Total short-term debt			$	261.3					$	837.5
Current portion of long-term debt			76.1						96.5
Total short-term debt and current portion of long-term debt (3)			$	337.4					$	934.0

___________________________

(1)At December 31, 2024, the average effective interest rate on the borrowings was 10.6 percent.

(2)At December 31, 2024, the average effective interest rate on the borrowings was 5.0 percent.

(3)Based on cash generated from operations, our existing liquidity facilities, which includes the revolving credit agreement with the option to increase capacity up to $2.75 billion, and our continued access to debt capital markets, we have adequate liquidity to meet any of the Company's debt obligations in the near term including any current portion of long-term debt.

Schedule of Long-Term Debt

Long-term debt consists of the following:

(in Millions)			December 31, 2024												December 31,
			Interest Rate Percentage						Maturity Date						2024						2023
Pollution control and industrial revenue bonds (less unamortized discounts of $0.1 and $0.1, respectively)			6.45%						2032						$	49.9					$	49.9
Senior notes (less unamortized discounts of $1.6 and $1.8, respectively)			3.2% - 6.4%						2026 - 2053						2,998.4						2,998.2
Revolving Credit Facility (1)			7.1%						2027						—						—
Foreign debt			12.2% - 12.6%						2025						76.1						96.5
Debt issuance cost															(20.4)						(24.5)
Total long-term debt															$	3,104.0					$	3,120.1
Less: debt maturing within one year															76.1						96.5
Total long-term debt, less current portion															$	3,027.9					$	3,023.6

___________________________

(1)Letters of credit outstanding under the Revolving Credit Facility totaled $210.1 million and available funds under this facility were $1,664.3 million at December 31, 2024.

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation.

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