Lines of Credit and Financing Arrangements (Tables)

12 Months Ended

Dec. 31, 2023

The following tables summarize our outstanding debt obligations and their classification in the accompanying Consolidated Balance Sheets (in millions):


	As of December 31,
	2023		2022


Commercial paper:	$	150.0	$	—



Current maturities of long-term debt:
Asset securitization program	$	—	$	350.0
Finance lease obligations	12.1		11.2
Senior unsecured notes	—		350.0

Debt issuance costs	—		(0.6)
Total current maturities of long-term debt	$	12.1	$	710.6
Long-Term Debt:

Finance lease obligations	32.7		28.3
Credit agreement	20.0		192.0
Senior unsecured notes	1,100.0		600.0
Debt issuance costs	(9.6)		(6.1)
Total long-term debt	$	1,143.1	$	814.2
Total debt	$	1,305.2	$	1,524.8

Aggregate amounts of required principal payments on total debt

As of December 31, 2023, the aggregate amounts of required principal payments on total debt excluding finance lease obligations (see Note 5) were as follows (in millions):


2024	$	150.0
2025	300.0
2026	20.0
2027	300.0
2028	500.0
Thereafter	—

Summary of weighted average borrowing rate facility

Below is a summary of the weighted average interest rate for CP notes as of December 31, 2023 and 2022:


	As of December 31,
	2023		2022
Weighted average borrowing rate	5.66	%	—	%

Below is a summary of the weighted average interest rate as of December 31, 2023 and 2022:


	As of December 31,
	2023		2022
Weighted average borrowing rate	6.67	%	5.57	%