Fair Value (Tables)

9 Months Ended

Sep. 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:

September 30, 2025	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	3,406.5					$	3,406.5
Marketable equity securities	$	0.9					$	0.9
Liabilities:
Cross currency swaps - net investment hedge			$	8.8			$	8.8
Contingent purchase price obligations					$	204.8	$	204.8

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:

	Nine Months Ended September 30,
	2025		2024
January 1	$	220.1	$	229.5
Acquisitions	27.6		28.5
Revaluation and interest	4.5		1.9
Payments	(47.9)		(23.6)
Foreign currency translation	0.5		0.1
September 30	$	204.8	$	236.4

Carrying Amount and Fair Value of Financial Assets and Liabilities

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

	September 30, 2025				December 31, 2024
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Cash and cash equivalents	$	3,406.5	$	3,406.5	$	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
Liabilities:
Short-term debt	$	24.1	$	24.1	$	21.3	$	21.3
Foreign currency derivatives	—		—		0.1		0.1
Cross currency swaps - net investment hedge	8.8		8.8		—		—
Contingent purchase price obligations	204.8		204.8		220.1		220.1
Long-Term Debt	6,275.2		6,036.3		6,035.3		5,664.9