XML 111 R97.htm IDEA: XBRL DOCUMENT v3.24.0.1
Borrowings - Schedule of Outstanding Borrowings (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Mar. 09, 2021
Nov. 25, 2019
Jun. 11, 2018
Jun. 21, 2010
Nov. 17, 2006
Outstanding Borrowings              
Total borrowings at par value $ 2,514.9 $ 2,630.0          
Debt issuance costs and unamortized discount, net (10.3) (13.2)          
Total borrowings at carrying value [1] 2,504.6 2,616.8          
Commercial Paper              
Outstanding Borrowings              
Total borrowings at par value 364.9 180.0          
4.250% Notes Due 2023              
Outstanding Borrowings              
Total borrowings at par value   300.0 [2]     $ 300.0    
2.850% Notes Due 2025              
Outstanding Borrowings              
Total borrowings at par value 500.0 [3] 500.0 [3]   $ 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 500.0 [3] 500.0 [3]         $ 500.0
6.200% Notes Due 2040              
Outstanding Borrowings              
Total borrowings at par value $ 250.0 [3] $ 250.0 [3]       $ 250.0  
[1] As of December 31, 2023, the Company’s weighted-average effective rate on total borrowings was approximately 4.0%.
[2] Commercial paper and cash, including cash generated from operations, were used to repay $300.0 million of the aggregate principal amount of 4.250% unsecured notes due in June 2023.
[3] The difference between the stated interest rate and the effective interest rate is not significant.