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Debt (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Outstanding Debt
The following table summarizes our outstanding debt obligations.
As of December 3120242023
Commercial paper(a)
$424.5 $184.9 
Short-term loans0.5 0.5 
Current maturities of long-term debt2.6 2.3 
Total short-term borrowings
427.6 187.7 
Non-current maturities of long-term debt(b)
232.6 5.7 
Total debt$660.2 $193.4 
(a)The increase in commercial paper outstanding from December 31, 2023 to December 31, 2024 was primarily related to acquisition activity that was partially financed using commercial paper, and timing of repayments. Note 21, Acquisitions, Investments, and Divestitures, for additional information.
(b)Long-term debt is primarily related to a term loan that the Company entered into in September 2024 in connection with the acquisition of kSARIA. See additional details in section titled, “U.S. Term Loan”, below.
Schedule of Commercial Paper
The following table presents our outstanding commercial paper borrowings and associated weighted average interest rates.
As of or for the Year Ended December 3120242023
Commercial Paper Outstanding - U.S. Program$424.4 $184.9 
Weighted Average Interest Rate - U.S. Program4.80 %5.61 %
Schedule of Maturities of Long-Term Debt
The following table provides the future maturities related to the outstanding balance as of December 31, 2024.
2025
$— 
2026— 
September 2027229.0 
Total maturities$229.0