Debt (Tables)

12 Months Ended

Dec. 31, 2024

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, 2024:

(in millions)	Short-term debt and current maturities of long-term debt		Long-term debt		Total
Balance as of December 31, 2023	$	454.7	$	1,975.7	$	2,430.4
Proceeds from issuances of debt (A) (B)	201.1		396.9		598.0
Repayments of debt (A)(C)(D)	(539.9)		(160.7)		(700.6)
Reclassification of long-term debt	123.9		(123.9)		—
Other	3.0		9.8		12.8
Balance as of December 31, 2024	$	242.8	$	2,097.8	$	2,340.6

(A) During 2024, the Company had short-term borrowings and repayments under its unsecured commercial paper program and borrowings outstanding of $115.0 million as of December 31, 2024.

(B) During 2024, $400.0 million of 5.850% Senior Notes due 2029 were issued.

(C) During 2024, the Company made the remaining principal repayments, totaling $450.0 million, of its 0.850% Senior Notes due 2024.

(D) During 2024, the Company made the remaining principal repayments, totaling $160.7 million, of its 7.125% Notes due 2027.

Long-term debt as of December 31, 2024 and December 31, 2023 consisted of the following:

(in millions)	2024		2023
Senior Notes, 2.4% due 2031	$	550.0	$	550.0
Senior Notes, 4.400% due 2032	450.0		450.0
Senior Notes, 5.850% due 2029	400.0		—
Senior Notes, 5.100% due 2052	300.0		300.0
Senior Notes, 6.375% due 2049	230.0		230.0
Senior Notes, 6.500% due 2048	185.0		185.0
Senior Notes, 6.625% due 2049	125.0		125.0
Short-term Unsecured Commercial Paper	115.0		—
Senior Notes, 0.85% due 2024	—		450.0
Notes, 7.125% due 2027	—		160.7
Other debt	19.0		12.2
Total debt, excluding unamortized discount and issuance costs	2,374.0		2,462.9
Unamortized discount and issuance costs	(33.4)		(32.5)
Short-term debt and current maturities of long-term debt	(242.8)		(454.7)
Total long-term debt	$	2,097.8	$	1,975.7

Schedule of Maturities of Long-term Debt, Net

Scheduled maturities as of December 31, 2024 consisted of the following:

(in millions)
2025	$	246.4
2026	4.6
2027	3.9
2028	3.0
2029	401.1
Thereafter	1,715.0
Total debt, excluding unamortized discount and issuance costs	$	2,374.0

Debt Instrument Redemption

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

	Senior Notes Due 2029	Senior Notes due 2031	Senior Notes Due 2032	Senior Notes Due 2052	Senior Notes due 2048	Senior Notes due 2049	Senior Notes due 2049
Coupon Rate	5.850%	2.400%	4.400%	5.100%	6.500%	6.625%	6.375%
Maturity Date	3/18/2029	8/18/2031	9/15/2032	4/1/2052	10/15/2048	1/15/2049	4/15/2049
Interest Payment Frequency	Semi-Annually	Semi-Annually	Semi-Annually	Semi-Annually	Quarterly	Quarterly	Quarterly
Callable	No	No	No	No	Yes	Yes	Yes
Price Callable at:	N/A	N/A	N/A	N/A	Par	Par	Par
Callable as of:	N/A	N/A	N/A	N/A	10/15/2023	1/15/2024	4/15/2024
Redeemable (A)	Yes	Yes	Yes	Yes	No	No	No
Redeemable at:	Make-Whole Premium	Make-Whole Premium	Make-Whole Premium	Make-Whole Premium	N/A	N/A	N/A
Redeemable until:	1-month prior to Maturity	3-months prior to Maturity	3-months prior to Maturity	6-months prior to Maturity	N/A	N/A	N/A
Change of Control (B)	Yes	Yes	Yes	Yes	Yes	Yes	Yes

(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.