Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Balance Sheet Classification, Fair Value and Gross and Net Amounts of Derivative Financial Instruments

The following table presents the balance sheet classification, fair value and gross and net amounts of derivative financial instruments:

	As of December 31
	2023						2022
Interest-rate contracts:	Assets			Liabilities			Assets			Liabilities
Other assets	$	1.2					$	4.0
Accounts payable, accrued expenses and other				$	5.2					$	19.7
Gross amounts recognized in Balance Sheets		1.2			5.2			4.0			19.7
Less amounts not offset in financial instruments		(.4	)		(.4	)		(1.1	)		(1.1	)
Pro forma net amount	$	.8		$	4.8		$	2.9		$	18.6

Amounts Recorded on Balance Sheets Related to Cumulative Basis Adjustments for Fair Value Hedges

The following table presents the amounts recorded on the Balance Sheets related to cumulative basis adjustments for fair value hedges:

	December 31			December 31
	2023			2022
Medium-term notes
Carrying amount of hedged liabilities	$	76.4		$	215.8
Cumulative basis adjustment included in the carrying amount		(3.6	)		(19.2	)

Amount of (Income) Expense on Cash Flow and Fair Value Hedges Recognized in Interest and Other Borrowing Costs on Statements of Income

The following table presents the amount of (income) expense on cash flow and fair value hedges recognized in Interest and other borrowing costs on the Statements of Income:

	As of December 31
		2023			2022
(Gain) loss on fair value hedges
Derivatives	$	(15.5	)	$	8.9
Hedged items		22.6			(8.1	)
(Gain) loss on cash flow hedges
Reclassified from AOCI into income		(4.6	)		27.9
	$	2.5		$	28.7