Fair Value (Tables)

6 Months Ended

Jun. 30, 2025

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, 2025	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	3,300.4					$	3,300.4
Marketable equity securities	0.9						0.9
Foreign currency derivatives			$	0.1			$	0.1
Liabilities:
Cross currency swaps - net investment hedge			$	9.0			$	9.0
Contingent purchase price obligations					$	192.1	$	192.1

December 31, 2024	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	4,339.4					$	4,339.4
Marketable equity securities	0.9						0.9
Cross currency swaps - net investment hedge			$	9.3			9.3
Liabilities:
Foreign currency derivatives			$	0.1			$	0.1
Contingent purchase price obligations					$	220.1	220.1

Changes in Contingent Purchase Price Obligations

Changes in contingent purchase price obligations:

	Six Months Ended June 30,
	2025		2024
January 1	$	220.1	$	229.5
Acquisitions	5.4		27.4
Revaluation and interest	7.3		6.2
Payments	(41.5)		(12.6)
Foreign currency translation	0.8		(0.7)
June 30	$	192.1	$	249.8

Carrying Amount and Fair Value of Financial Assets and Liabilities

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

	June 30, 2025				December 31, 2024
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Cash and cash equivalents	$	3,300.4	$	3,300.4	$	4,339.4	$	4,339.4
Marketable equity securities	0.9		0.9		0.9		0.9
Non-marketable equity securities	30.6		30.6		36.8		36.8
Cross currency swaps - net investment hedge	—		—		9.3		9.3
Foreign currency derivatives	0.1		0.1		—		—
Liabilities:
Short-term debt	$	22.3	$	22.3	$	21.3	$	21.3
Foreign currency derivatives	—		—		0.1		0.1
Cross currency swaps - net investment hedge	9.0		9.0		—		—
Contingent purchase price obligations	192.1		192.1		220.1		220.1
Long-Term Debt	6,282.7		5,997.5		6,035.3		5,664.9