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Borrowings - Schedule of Outstanding Borrowings (Details) - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Mar. 31, 2021
Outstanding Borrowings      
Total borrowings at par value $ 2,625.0 $ 3,025.0  
Debt issuance costs and unamortized discount, net (14.0) (16.6)  
Total borrowings at carrying value [1] 2,611.0 3,008.4  
Commercial Paper      
Outstanding Borrowings      
Total borrowings at par value [2] 175.0 275.0  
4.250% Notes Due 2023      
Outstanding Borrowings      
Total borrowings at par value [3] 300.0 300.0  
2.850% Notes Due 2025      
Outstanding Borrowings      
Total borrowings at par value [3] 500.0 500.0  
1.350% Notes Due 2026      
Outstanding Borrowings      
Total borrowings at par value 600.0 [3] 600.0 [3] $ 600.0
2.750% Notes Due 2031      
Outstanding Borrowings      
Total borrowings at par value 300.0 [3] 300.0 [3] $ 300.0
6.200% Notes Due 2036      
Outstanding Borrowings      
Total borrowings at par value [3] 500.0 500.0  
6.200% Notes Due 2040      
Outstanding Borrowings      
Total borrowings at par value [3] $ 250.0 250.0  
Term Loan Facility Borrowing      
Outstanding Borrowings      
Total borrowings at par value [4]   $ 300.0  
[1] As of September 30, 2022, the Company’s weighted-average effective rate on total borrowings was approximately 3.8%.
[2] Pursuant to the Company’s commercial paper program, the Company may issue unsecured commercial paper notes in an amount not to exceed $1.5 billion outstanding at any time, reduced to the extent of borrowings outstanding on the Company’s revolving credit facility. The commercial paper notes may have maturities of up to 397 days from date of issuance. The Company’s commercial paper borrowings as of September 30, 2022 had a weighted-average annual interest rate of approximately 3.4% and a weighted-average term of approximately 3 days.
[3] The difference between the stated interest rate and the effective interest rate is not significant.
[4] See Term Loan Facility section below for further discussion.