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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Carrying Amounts and Estimated Fair Values of Other Financial Instruments

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