Fair Value Measurements

6 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Fair Value Measurements

8.Fair Value Measurements

The following table presents the carrying amounts and estimated fair values of the Company’s other financial instruments at June 30, 2025 and December 31, 2024:

		June 30, 2025				December 31, 2024
	Input	Carrying		Fair		Carrying		Fair
	Level	Amount		Value		Amount		Value
Financial Assets:
Cash equivalents	Level 1	$	775.8	$	775.8	$	793.3	$	793.3
Financial Liabilities:
3.15% Senior notes due August 1, 2027	Level 2		424.9		416.1		424.9		411.1
2.3% Senior notes due December 15, 2031	Level 2		399.5		347.1		399.4		338.9
5.6% Senior notes due November 15, 2032	Level 2		499.3		524.3		499.2		515.3
3.95% Senior notes due August 1, 2047	Level 2		397.8		309.9		397.8		307.7
5.00% Senior notes due June 15, 2052	Level 2		499.9		445.8		499.9		451.9

The Company recognizes transfers between input levels as of the actual date of the event. There were no transfers between input levels during the six months ended June 30, 2025 and 2024.

Refer to Note 2 in the Form 10-K for a description of the methods and assumptions used to estimate the fair value of each class of financial instruments reflected in the condensed consolidated balance sheets.

The carrying amounts of Accounts Receivable, Accounts Payable, and Accrued and Other Liabilities, approximated estimated fair values as of June 30, 2025 and December 31, 2024.