Fair Value (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value [Abstract]

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

Financial assets and liabilities measured at fair value on a recurring basis:

	June 30, 2024								December 31, 2023
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	2,711.7					$	2,711.7	$	4,432.0					$	4,432.0
Marketable equity securities	0.8						0.8		0.9						0.9
Cross currency swaps - net  investment hedge			$	11.5			11.5				$	—			—
Liabilities:
Cross currency swaps - net  investment hedge			$	—			$	—			$	6.6			$	6.6
Contingent purchase price obligations					$	249.8	249.8						$	229.5	229.5

Changes in Contingent Purchase Price Obligations

Changes in contingent purchase price obligations:

	Six Months Ended June 30,
	2024		2023
January 1	$	229.5	$	115.0
Acquisitions	27.4		62.9
Revaluation and interest	6.2		(6.2)
Payments	(12.6)		(14.3)
Foreign currency translation	(0.7)		0.6
June 30	$	249.8	$	158.0

Carrying Amount and Fair Value of Financial Assets and Liabilities

Carrying amount and fair value of our financial assets and liabilities:

	June 30, 2024				December 31, 2023
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Cash and cash equivalents	$	2,711.7	$	2,711.7	$	4,432.0	$	4,432.0
Marketable equity securities	0.8		0.8		0.9		0.9
Cross currency swaps - net investment hedge	11.5		11.5		—		—
Non-marketable equity securities	12.5		12.5		6.7		6.7
Liabilities:
Short-term debt	$	15.1	$	15.1	$	10.9	$	10.9
Cross currency swaps - net investment hedge	—		—		6.6		6.6
Contingent purchase price obligations	249.8		249.8		229.5		229.5
Long-term debt	6,239.6		5,778.2		5,639.6		5,237.8