Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Summary of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table summarizes the Company's financial assets and liabilities measured at fair value on a recurring basis:

		Fair Value
(in millions)	Fair Value Level	December 31, 2024		December 31, 2023
Cash equivalents	1	$	12.3	$	0.4
Short-term investments in marketable securities	1	0.8		0.8
Restricted cash	1	16.9		11.1
Derivative assets	2	22.1		5.2
Derivative liabilities	2	9.4		13.7
Deferred compensation	1	1.0		1.5
Deferred compensation	2	19.2		16.1
Liabilities measured at net asset value		14.3		12.9

Fair Value of Other Financial Instruments. The carrying values of the Company’s short-term financial instruments, including cash and cash equivalents and accounts and notes receivable, approximate their fair values because of the short maturity of these instruments. As of December 31, 2024 and December 31, 2023, the fair value of the Company’s long-term debt, including current maturities, and short-term debt was approximately $2,161.3 million and $2,228.2 million, respectively, and was determined using Level 1 and Level 2 inputs described above. The carrying value of long-term debt, including current maturities, and short-term debt was $2,370.2 million and $2,458.7 million as of December 31, 2024 and December 31, 2023, respectively.

Refer to Note 12 – Financial Instruments for additional information related to the fair value of derivative assets and liabilities by class.