Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Long-term Debt

The table below summarizes the carrying value of the Company’s outstanding debt, net of capitalized debt issuance costs and discounts:

	Due Date	2023		2022		2021
3.45% Senior Notes	2027	$	1,493.9	$	1,492.1	$	1,490.4
4.50% Senior Notes	2047	1,233.0		1,232.3		1,231.6
2.95% Senior Notes	2029	794.6		793.6		792.6
4.05% Senior Notes	2024	598.8		596.9		—
3.80% Senior Notes	2049	543.6		543.2		543.0
3.125% Senior Notes	2024	499.7		499.0		498.3
2.30% Senior Notes	2030	497.1		496.7		496.2
2.20% Senior Notes	2032	494.8		494.2		493.6
3.30% Senior Notes	2050	494.3		494.1		493.9
2.90% Senior Notes	2052	491.9		491.5		491.3
3.45% Senior Notes	2025	399.4		399.1		398.7
4.25% Senior Notes	2025	398.6		397.7		—
4.55% Senior Notes	2045	395.2		395.0		394.7
3.95% Senior Notes	2026	353.1		354.7		356.2
4.00% Senior Notes	2042	297.0		296.9		296.7
3.30% Senior Notes	2025	249.9		249.8		249.6
4.40% Senior Notes	2045	240.9		240.5		240.0
0.53% to 8.00% Promissory Notes	Through 2026	0.9		1.6		2.0
7.375% Debentures	2027	—		119.2		119.2
7.45% Debentures	2097	—		3.5		3.5
2.75% Senior Notes	2022	—		—		260.0
Total (1)		9,476.7		9,591.6		8,851.5
Less amounts due within one year		1,098.8		0.6		260.6
Long-term debt		$	8,377.9	$	9,591.0	$	8,590.9

(1)     Net of capitalized debt issuance costs of $49.3 million, $57.3 million and $57.6 million and net of discounts of $25.2 million, $25.7 million, and $26.0 million at December 31, 2023, 2022 and 2021, respectively.

Schedule of Short-term Debt

The table below summarizes the Company’s Short-term borrowings:

	2023			2022			2021
Domestic commercial paper	$	347.7		$	938.5		$	739.9
Foreign facilities	26.5			39.6			23.6
Total	$	374.2		$	978.1		$	763.5
Weighted average interest rate:
Domestic	5.5		%	4.6		%	0.3		%
Foreign	3.6		%	6.7		%	9.5		%