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Fair Value (Tables) | 9 Months Ended
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Sep. 30, 2023
Fair Value Disclosures [Abstract] |
Recurring Fair Value Measures | The estimated fair value of Cash and Cash Equivalents on the Consolidated Balance Sheet approximates the carrying amount and therefore is excluded from the recurring fair value measures in the following tables.
| Fair Value as of September 30, 2023
Recurring Fair Value Measures | Level 1 |  | Level 2 |  | Level 3 |  | Total
Millions |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |
Investments (a) |  |  |  |  |  |  |
Available-for-sale – Equity Securities | $8.1 |  |  | — |  |  | — |  |  | $8.1 |
Available-for-sale – Corporate and Governmental Debt Securities (b) | — |  |  | $5.8 |  |  | — |  |  | 5.8 |
Cash Equivalents | 5.8 |  |  | — |  |  | — |  |  | 5.8 |
Total Fair Value of Assets | $13.9 |  |  | $5.8 |  |  | — |  |  | $19.7 |
Liabilities |  |  |  |  |  |  |
Deferred Compensation (c) | — |  |  | $15.9 |  |  | — |  |  | $15.9 |
Total Fair Value of Liabilities | — |  |  | $15.9 |  |  | — |  |  | $15.9 |
| Fair Value as of December 31, 2022
Recurring Fair Value Measures | Level 1 |  | Level 2 |  | Level 3 |  | Total
Millions |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |
Investments (a) |  |  |  |  |  |  |
Available-for-sale – Equity Securities | $7.7 |  |  | — |  |  | — |  |  | $7.7 |
Available-for-sale – Corporate and Governmental Debt Securities | — |  |  | $5.7 |  |  | — |  |  | 5.7 |
Cash Equivalents | 4.2 |  |  | — |  |  | — |  |  | 4.2 |
Total Fair Value of Assets | $11.9 |  |  | $5.7 |  |  | — |  |  | $17.6 |
Liabilities |  |  |  |  |  |  |
Deferred Compensation (c) | — |  |  | $15.0 |  |  | — |  |  | $15.0 |
Total Fair Value of Liabilities | — |  |  | $15.0 |  |  | — |  |  | $15.0 |
(a)Included in Other Non-Current Assets on the Consolidated Balance Sheet. (b)As of September 30, 2023, the aggregate amount of available-for-sale corporate and governmental debt securities maturing in one year or less was $1.6 million, in one year to less than three years was $2.9 million, in three years to less than five years was $0.9 million and in five or more years was $0.4 million. (c)Included in Other Non-Current Liabilities on the Consolidated Balance Sheet.
Fair Value of Financial Instruments | The fair value of the item listed in the following table was based on quoted market prices for the same or similar instruments (Level 2).
Financial Instruments | Carrying Amount |  | Fair Value
Millions |  |  |
Short-Term and Long-Term Debt (a) |  |  |
September 30, 2023 | $1,805.5 |  | $1,582.5
December 31, 2022 | $1,929.1 |  | $1,782.7
(a)Excludes unamortized debt issuance costs.

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-11 + Details
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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 -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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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 + Details
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