Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2024

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:

	June 30, 2024						December 31, 2023
Interest-rate contracts:	Assets			Liabilities			Assets			Liabilities
Other assets	$	4.6					$	1.2
Accounts payable, accrued expenses and other				$	4.3					$	5.2
Gross amounts recognized in Balance Sheets		4.6			4.3			1.2			5.2
Less amounts not offset in financial instruments		(2.3	)		(2.3	)		(.4	)		(.4	)
Pro forma net amount	$	2.3		$	2.0		$	.8		$	4.8

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:

	June 30			December 31
	2024			2023
Medium-term notes:
Carrying amount of the hedged liabilities	$	425.6		$	76.4
Cumulative basis adjustment included in the carrying amount		(4.4	)		(3.6	)

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

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

	Three Months Ended						Six Months Ended
	June 30						June 30
		2024		2023				2024		2023
Loss (gain) on fair value hedges
Derivatives	$	5.6		$	.4		$	2.4		$	(13.5	)
Hedged items		(3.7	)		1.6			1.4			16.7
Gain on cash flow hedges
Reclassified from AOCI into income		(2.7	)		(2.0	)		(5.0	)		(4.3	)
	$	(.8	)				$	(1.2	)	$	(1.1	)