FAIR VALUE (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Recurring Fair Value Measures

The estimated fair value of Cash and Cash Equivalents on the Consolidated Balance Sheet approximates the carrying amount and therefore is excluded from the recurring fair value measures in the following tables.

NOTE 4. FAIR VALUE (Continued)

	Fair Value as of June 30, 2024
Recurring Fair Value Measures	Level 1	Level 2	Level 3	Total
Millions
Assets
Investments (a)
Available-for-sale – Equity Securities	$8.8	—	—	$8.8
Available-for-sale – Corporate and Governmental Debt Securities (b)	—	$6.5	—	6.5
Cash Equivalents	6.9	—	—	6.9
Total Fair Value of Assets	$15.7	$6.5	—	$22.2
Liabilities
Deferred Compensation (c)	—	$19.5	—	$19.5
Total Fair Value of Liabilities	—	$19.5	—	$19.5
	Fair Value as of December 31, 2023
Recurring Fair Value Measures	Level 1	Level 2	Level 3	Total
Millions
Assets
Investments (a)
Available-for-sale – Equity Securities	$8.7	—	—	$8.7
Available-for-sale – Corporate and Governmental Debt Securities	—	$6.0	—	6.0
Cash Equivalents	5.8	—	—	5.8
Total Fair Value of Assets	$14.5	$6.0	—	$20.5
Liabilities
Deferred Compensation (c)	—	$16.5	—	$16.5
Total Fair Value of Liabilities	—	$16.5	—	$16.5

(a)Included in Other Non-Current Assets on the Consolidated Balance Sheet.

(b)As of June 30, 2024, the aggregate amount of available-for-sale corporate and governmental debt securities maturing in one year or less was $2.0 million, in one year to less than three years was $2.7 million, in three years to less than five years was $1.3 million and in five or more years was $0.5 million.

(c)Included in Other Non-Current Liabilities on the Consolidated Balance Sheet.

Schedule of Fair Value of Financial Instruments

The fair value of the item listed in the following table was based on quoted market prices for the same or similar instruments (Level 2).

Financial Instruments	Carrying Amount	Fair Value
Millions
Short-Term and Long-Term Debt (a)
June 30, 2024	$1,796.4	$1,632.4
December 31, 2023	$1,799.4	$1,670.6

(a)Excludes unamortized debt issuance costs.