Financing (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Carrying Value of Debt

The carrying value of the components of our long-term debt as of December 31 were as follows ($ in millions):

	2021		2020
U.S. dollar-denominated commercial paper	$	364.9	$	—
3.15% senior unsecured notes due 2026	895.1		894.1
4.30% senior unsecured notes due 2046	547.3		547.2
0.875% senior convertible notes due 2022	1,152.0		1,389.0
Delayed-Draw Term Loan	999.7		—
Term Loan due May 2021	—		1,000.0
Term Loan due March 2021	—		399.8
Long-term debt	3,959.0		4,230.1
Less: current portion of long-term debt	2,151.7		1,399.8
Long-term debt, net of current maturities	$	1,807.3	$	2,830.3

Schedule of Outstanding Paper Programs

The details of our Commercial Paper Programs as of December 31, 2021 were as follows ($ in millions):

	Carrying value		Annual effective rate		Weighted average remaining maturity (in days)
U.S. dollar-denominated commercial paper	$	364.9	0.32	%	30.3

Schedule of Debt

Registered Notes Series	Call Dates
3.15% senior unsecured notes due 2026	March 15, 2026
4.30% senior unsecured notes due 2046	December 15, 2045

Schedule of Maturities of Long-term Debt

The future minimum principal payments due are presented in the following table:

	Term Loans		Convertible and Registered Notes		Total
2022	$	1,000.0	$	1,156.5	$	2,156.5
2023	—		—		—
2024	—		—		—
2025	—		—		—
2026	—		900.0		900.0
Thereafter	—		550.0		550.0
Total principal payments (a)	$	1,000.0	$	2,606.5	$	3,606.5
(a) Not included in the table above are discounts, net of premiums and issuance costs associated with the Convertible and Registered Notes and Commercial Paper, which totaled $13 million as of December 31, 2021, and have been recorded as an offset to the carrying amount of the related debt in the accompanying Consolidated Balance Sheet as of December 31, 2021. In addition, the table above does not include principal balance of $365 million under the Commercial Paper Programs.