Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of income from continuing operations before income taxes by geographic region

Income from continuing operations before income taxes by geographic region was as follows:

	Year Ended December 31,
	2023		2022		2021
U.S.	$	1,119.9	$	1,474.5	$	1,242.6
Non-U.S.	299.6		384.7		365.1
Income from continuing operations before income taxes	$	1,419.5	$	1,859.2	$	1,607.7

Schedule of income taxes relating to income from continuing operations

Income taxes relating to income from continuing operations consisted of the following:

	Year Ended December 31,
	2023		2022		2021
Current:
Federal	$	131.0	$	200.6	$	115.7
State and local	53.4		71.6		48.1
Non-U.S.	74.7		76.6		67.7
Total current	$	259.1	$	348.8	$	231.5
Deferred:
Federal	85.5		98.8		129.9
State and local	10.0		17.1		33.9
Non-U.S.	6.3		8.3		21.0
Total deferred	$	101.8	$	124.2	$	184.8
Income taxes	$	360.9	$	473.0	$	416.3

Schedule of reconciliation of income taxes from continuing operations at federal statutory rate

Income taxes relating to income from continuing operations varied from the U.S. federal statutory income tax rate due to the following:

	Year Ended December 31,
	2023		2022		2021
Income taxes at federal statutory rate	$	298.1	$	390.4	$	337.6
State and local income taxes, net of federal taxes	47.7		67.3		64.6
Non-U.S. income taxed at other rates	18.2		4.1		11.9
Other	(3.1)		11.2		2.2
Income taxes	$	360.9	$	473.0	$	416.3

Schedule of components of deferred tax assets and liabilities

The components of deferred tax assets and liabilities as of December 31, 2023 and 2022 were as follows:

	December 31,
	2023		2022
Deferred Tax Assets
Accrued liabilities	$	77.3	$	68.9
Net operating loss and credit carryforwards	49.3		50.5
Leasing liabilities	624.8		628.7
Other	36.6		36.6
Total deferred tax assets	788.0		784.7
Valuation allowance	(58.2)		(62.8)
Net deferred tax assets	$	729.8	$	721.9
Deferred Tax Liabilities
Depreciation and amortization	(354.2)		(314.1)
Partnership investments	(972.1)		(890.4)
Leasing assets	(624.8)		(628.7)
Other	(10.4)		(9.7)
Total deferred tax liabilities	(1,961.5)		(1,842.9)
Net deferred tax liabilities	$	(1,231.7)	$	(1,121.0)