Borrowings (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Short-term Debt

Borrowings consist of the following:

	December 31, 2024		December 31, 2023
Short-term
Current portion of long-term debt	$	399,411	$	—
Commercial paper	—		467,600
Other	645		682
Short-term borrowings and current portion of long-term debt	$	400,056	$	468,282

Schedule of Long-term Debt

			Carrying amount (1)
	Principal		December 31, 2024		December 31, 2023
Long-term
3.15% 10-year notes due November 15, 2025	$	400,000	$	399,411	$	398,737
1.25% 10-year notes due November 9, 2026 (euro-denominated)	€	600,000	622,313		657,628
0.750% 8-year notes due November 4, 2027 (euro denominated)	€	500,000	517,863		547,342
6.65% 30-year debentures due June 1, 2028	$	200,000	199,657		199,557
2.950% 10-year notes due November 4, 2029	$	300,000	298,166		297,787
5.375% 30-year debentures due October 15, 2035	$	300,000	297,308		297,058
6.60% 30-year notes due March 15, 2038	$	250,000	248,505		248,392
5.375% 30-year notes due March 1, 2041	$	350,000	345,534		345,258
Total long-term debt			$	2,928,757	$	2,991,759
Less current portion of long-term debt			(399,411)		—
Net long-term debt			$	2,529,346	$	2,991,759

(1) Carrying amount is net of unamortized debt discount and deferred debt issuance costs. Total unamortized debt discounts were $8.5 million and $10.9 million as of December 31, 2024 and December 31, 2023, respectively. Total deferred debt issuance costs were $6.8 million and $8.9 million as of December 31, 2024 and December 31, 2023, respectively.

Scheduled Maturities

As of December 31, 2024, the future maturities of long-term debt were as follows:

	Future Maturities
2025	$	400,000
2026	624,350
2027	520,291
2028	200,000
2029	300,000
2030 and thereafter	900,000
Total	$	2,944,641