Fair Value (Tables)

9 Months Ended

Sep. 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:

	September 30, 2024								December 31, 2023
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	3,533.9					$	3,533.9	$	4,432.0					$	4,432.0
Marketable equity securities	1.0						1.0		0.9						0.9
Foreign currency derivatives			$	0.3			0.3				$	—			—
Liabilities:
Cross currency swaps - net     investment hedge			$	0.6			$	0.6			$	6.6			$	6.6
Contingent purchase price obligations					$	236.4	236.4						$	229.5	229.5

Changes in Contingent Purchase Price Obligations

Changes in contingent purchase price obligations:

	Nine Months Ended September 30,
	2024		2023
January 1	$	229.5	$	115.0
Acquisitions	28.5		230.0
Revaluation and interest	1.9		(18.2)
Payments	(23.6)		(34.8)
Foreign currency translation	0.1		0.2
September 30	$	236.4	$	292.2

Carrying Amount and Fair Value of Financial Assets and Liabilities

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

	September 30, 2024				December 31, 2023
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Cash and cash equivalents	$	3,533.9	$	3,533.9	$	4,432.0	$	4,432.0
Marketable equity securities	1.0		1.0		0.9		0.9
Non-marketable equity securities	11.2		11.2		6.7		6.7
Foreign currency derivatives	0.3		0.3		—		—
Liabilities:
Short-term debt	$	16.9	$	16.9	$	10.9	$	10.9
Cross currency swaps - net investment hedge	0.6		0.6		6.6		6.6
Contingent purchase price obligations	236.4		236.4		229.5		229.5
Long-term debt	6,930.1		6,676.3		5,639.6		5,237.8