Indebtedness (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Summary of indebtedness

Our indebtedness is summarized as follows:

	As of December 31,
(In millions)	2023		2022
Current portion:
2023 Term Loan 364-day tranche(1)	$	150.0	$	—
Current portion of notes payable and term loan	$	150.0	$	—
Non-current portion:
2023 Term Loan three-year tranche(1)	$	500.0	$	—
4.050% Senior Notes due September 15, 2025	1,746.6		1,744.7
2.250% Senior Notes due May 1, 2030	1,493.8		1,492.9
5.200% Senior Notes due September 15, 2045	1,100.7		1,100.3
3.150% Senior Notes due May 1, 2050	1,474.3		1,473.8
3.250% Senior Notes due February 15, 2051	472.8		469.3
Non-current portion of notes payable and term loan	$	6,788.2	$	6,281.0

(1) In connection with our acquisition of Reata we drew $1.0 billion from our 2023 Term Loan, comprised of a $500.0 million floating rate 364-day tranche and a $500.0 million floating rate three-year tranche.

Total debt maturities

The total gross payments due under our debt arrangements are as follows:

(In millions)	As of December 31, 2023
2024	$	150.0
2025	1,750.0
2026	500.0
2027	—
2028	—
2029 and thereafter	4,817.3
Total current and non-current debt	$	7,217.3
Less: debt discount and issuance fees	(279.1)
Total current and non-current debt, net	$	6,938.2