Debt (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Long-term Debt

The following table provides the changes in the Company's debt for the year ended December 31, 2022:

(in millions)	Short-term debt and current maturities of long-term debt		Long-term debt		Total
Balance as of December 31, 2021	$	37.4	$	1,779.0	$	1,816.4
Proceeds from issuances of debt	7.2		741.8		749.0
Repayments of long-term debt	(37.3)		(21.8)		(59.1)
Reclassification of long-term debt	81.6		(81.6)		—
Other	0.1		2.6		2.7
Balance as of December 31, 2022	$	89.0	$	2,420.0	$	2,509.0

Long-term debt as of December 31, 2022 and December 31, 2021 consisted of the following:

(in millions)	2022		2021
Senior Notes, 2.4% due 2031	$	550.0	$	550.0
Senior Notes, 0.85% due 2024	450.0		450.0
Senior Notes, 4.400% due 2032	450.0		—
Senior Notes, 5.100% due 2052	300.0		—
Senior Notes, 6.375% due 2049	230.0		230.0
Senior Notes, 6.500% due 2048	185.0		185.0
Notes, 7.125% due 2027	160.7		160.7
Senior Notes, 6.625% due 2049	125.0		125.0
Debentures, 7.375% due 2023 (A)	80.1		80.8
Term Loan, floating rate due 2023 (B) (C)	—		56.3
Other Long-term debt	13.9		7.4
Total long-term debt	2,544.7		1,845.2
Unamortized discount and issuance costs	(35.7)		(28.8)
Current maturities of long-term debt	(89.0)		(37.4)
Long-term debt, net of current maturities, unamortized discount and debt issuance costs	$	2,420.0	$	1,779.0

(A) Included in Debentures, 7.375% due 2023 as of December 31, 2022 and December 31, 2021, are the aggregate fair values related to the fixed-to-floating interest rate swaps as discussed in Note 13 – Financial Instruments. During the third quarter of 2022, the Debentures were reclassified from Long-term debt to Current maturities of long-term debt.

(B) During 2022, the Company made the remaining principal repayments, totaling $56.3 million.

(C) As of December 31, 2021, the interest rate was 1.72%.

Schedule of Maturities of Long-term Debt, Net

Scheduled maturities:

(in millions)
2023	$	89.0
2024	451.5
2025	1.3
2026	1.1
2027	161.3
Thereafter	1,840.5
Total long-term debt including current maturities	$	2,544.7

Debt Instrument Redemption

The table below summarizes the general provisions of these long-term debt instruments.

	Senior Notes due 2031	Senior Notes due 2024	Senior Notes Due 2032	Senior Notes Due 2052	Senior Notes due 2049	Senior Notes due 2048	Notes due 2027	Senior Notes due 2049	Debentures due 2023
Coupon Rate	2.400%	0.850%	4.400%	5.100%	6.375%	6.500%	7.125%	6.625%	7.375%
Maturity Date	8/18/2031	8/18/2024	9/15/2032	4/1/2052	4/15/2049	10/15/2048	8/1/2027	1/15/2049	9/1/2023
Interest Payment Frequency	Semi-Annually	Semi-Annually	Semi-Annually	Semi-Annually	Quarterly	Quarterly	Semi-Annually	Quarterly	Semi-Annually
Callable	No	Yes	No	No	Yes	Yes	No	Yes	No
Price Callable at:	N/A	Par	N/A	N/A	Par	Par	N/A	Par	N/A
Callable as of:	N/A	8/18/2022	N/A	N/A	4/15/2024	10/15/2023	N/A	1/15/2024	N/A
Redeemable (A)	Yes	No	Yes	Yes	No	No	Yes	No	No
Redeemable at:	Make-Whole Premium	N/A	Make-Whole Premium	Make-Whole Premium	N/A	N/A	Make-Whole Premium	N/A	N/A
Redeemable until:	3-months prior to Maturity	N/A	3-months prior to Maturity	6-months prior to Maturity	N/A	N/A	6-months prior to Maturity	N/A	N/A
Change of Control (B)	Yes	Yes	Yes	Yes	Yes	Yes	N/A	Yes	No

(A) If the Company elects to redeem the debt instrument, it will pay a "make-whole" redemption price set forth in the respective indenture.

(B) If the Company experiences a change of control, subject to certain circumstances, the Company may be required to repurchase some or all of the notes for an amount equal to 101 percent of the outstanding principal plus any accrued and unpaid interest.