Investments in Affiliates (Tables)

12 Months Ended

Dec. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]

Investments in and Advances to Affiliates

Investments in affiliates as of December 31, 2023 and 2022 were as follows (in millions):

	2023		2022
Finance joint ventures	$	464.3	$	390.2
Manufacturing joint ventures	30.6		29.9
Other affiliates	17.8		16.8
	$	512.7	$	436.9

Schedule of Equity Method Investments

The Company’s equity in net earnings of affiliates for the years ended December 31, 2023, 2022 and 2021 were as follows (in millions):

	2023		2022		2021
Finance joint ventures	$	66.9	$	63.0	$	64.4
Manufacturing and other joint ventures	1.3		1.1		1.2
	$	68.2	$	64.1	$	65.6

Summarized combined financial information of the Company’s finance joint ventures as of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 were as follows (in millions):

	As of December 31,
	2023		2022
Total assets	$	10,035.8	$	8,359.1
Total liabilities	9,088.3		7,562.8
Partners’ equity	947.5		796.3

	For the Years Ended December 31,
	2023		2022		2021
Revenues	$	680.5	$	454.6	$	411.1
Costs	468.6		274.9		228.1
Income before income taxes	$	211.9	$	179.7	$	183.0