Lines of Credit and Financing Arrangements (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Outstanding debt obligations

The following tables summarize our outstanding debt obligations and their classification in the accompanying Consolidated Balance Sheets (in millions):

	As of December 31,
	2022		2021
Current maturities of long-term debt:
Asset securitization program	$	350.0	$	—
Finance lease obligations	11.2		11.3
Senior unsecured notes	350.0		—
Debt issuance costs	(0.6)		—
Total current maturities of long-term debt	$	710.6	$	11.3
Long-Term Debt:
Asset securitization program	$	—	$	250.0
Finance lease obligations	28.3		29.0
Credit agreement	192.0		6.5
Senior unsecured notes	600.0		950.0
Debt issuance costs	(6.1)		(9.0)
Total long-term debt	$	814.2	$	1,226.5
Total debt	$	1,524.8	$	1,237.8

Aggregate amounts of required principal payments on total debt

As of December 31, 2022, the aggregate amounts of required principal payments on total debt excluding finance lease obligations (see Note 5) were as follows (in millions):

2023	$	700.0
2024	—
2025	300.0
2026	192.0
2027	300.0
Thereafter	—

Eligible amounts available and beneficial interests sold

The eligible amounts available and beneficial interests sold were as follows (in millions):

	As of December 31,
	2022		2021
Eligible amount available under the ASP on qualified accounts receivable	$	350.0	$	335.6
Less: Beneficial interest transferred	(350.0)		(250.0)
Remaining amount available	$	—	$	85.6

Summary of weighted average borrowing rate facility

Below is a summary of the weighted average interest rate for both December 31, 2022 and 2021:

	As of December 31,
	2022		2021
Weighted average borrowing rate	5.57	%	1.38	%