Debt

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Debt

Debt:

Consolidated debt of Old Republic and its subsidiaries is summarized below:

	June 30, 2020				December 31, 2019
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
4.875% Senior Notes issued in 2014 and due 2024	$	397.6	$	435.8	$	397.3	$	439.5
3.875% Senior Notes issued in 2016 and due 2026	546.5		590.7		546.2		580.0
Other miscellaneous debt	23.9		23.9		30.4		30.4
Total debt	$	968.1	$	1,050.4	$	974.0	$	1,050.0

Fair Value Measurements - The Company utilizes indicative market prices, which incorporate recent actual market transactions and current bid/ask quotations to estimate the fair value of outstanding debt securities that are classified within Level 2 of the fair value hierarchy as presented below. The Company uses an internally generated interest yield

market matrix table, which incorporates maturity, coupon rate, credit quality, structure and current market conditions to estimate the fair value of its outstanding debt securities that are classified within Level 3.

The following table shows a summary of financial liabilities disclosed, but not carried at fair value, segregated among the various input levels described in Note 3 above:

	Carrying		Fair
	Value		Value		Level 1		Level 2		Level 3
Financial Liabilities:
Debt:
June 30, 2020	$	968.1	$	1,050.4	$	—	$	1,026.5	$	23.9
December 31, 2019	$	974.0	$	1,050.0	$	—	$	1,019.5	$	30.4