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Financing (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Components of Debt
Our debt as of December 31, 2023 and 2022 consisted of the following:
(in millions) December 31,20232022
Term Facility$4.6 $— 
4.45% notes due December 2023
— 299.7 
Total short-term borrowings (a)
$4.6 $299.7 
Term Facility$98.5 $— 
6.55% notes due November 2036
198.6 198.6 
4.20% notes due March 2048
346.6 346.5 
Other deferred financing costs associated with credit facilities(3.4)— 
Total long-term debt (a)
$640.3 $545.1 
(a ) Debt discounts and debt issuance costs totaled $10.1 million and $5.6 million as of December 31, 2023 and 2022, respectively, and have been netted against the aggregate principal amounts of the related debt in the components of the debt table above, where applicable.
Total Indebtedness to Capitalization
As of December 31, 2023, our total debt to total capitalization ratio was 40.1%, computed as follows:
(in millions)
Short-term borrowings$4.6 
Long-term debt640.3 
Total debt$644.9 
Equity$964.0 
Capitalization$1,608.9 
Total indebtedness to capitalization40.1 %