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Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions
The aggregate equivalent U.S. dollar notional amount of foreign exchange derivative customer contracts held by the Company as of December 31, 2023 and 2022 (in millions) is presented in the table below.
Notional
20232022
Foreign exchange contracts:
  Swaps$95.1 $160.9 
  Forwards
21,173.0 15,159.4 
  Written options19,533.3 13,701.9 
  Purchased options15,750.4 11,474.2 
Total$56,551.8 $40,496.4 
As of December 31, 2023, the Company had the following outstanding interest rate swap derivatives that qualify as hedging instruments within designated cash flow hedges of variable interest rate risk (in millions):
Notional Amount
Fixed RatesMaturity Date
$2504.01%7/31/2025
$2504.02%7/31/2025
$5003.80%1/31/2026
$2503.71%7/31/2026
$2503.72%7/31/2026
$1004.35%7/31/2026
$2504.40%7/31/2026
$2504.40%7/31/2026
$4004.33%7/31/2026
$2504.29%1/31/2027
$2504.29%1/31/2027
$2504.19%7/31/2027
$2504.19%7/31/2027
$1503.87%1/31/2027
$503.83%1/31/2027
$503.85%1/31/2027
$1254.00%1/31/2028
$1253.99%1/31/2028
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location
The following table summarizes the fair value of derivatives reported in the Consolidated Balance Sheets as of December 31, 2023 and 2022 (in millions):
December 31, 2023Fair Value, GrossFair Value, Net
Derivative
Assets		Derivative LiabilitiesDerivative
Assets		Derivative Liabilities
Derivatives - undesignated:
Foreign exchange contracts$594.9 $519.4 $320.2 $244.7 
Less: Cash collateral39.2 180.2 39.2 180.2 
Total net derivative assets and liabilities$555.7 $339.2 $281.0 $64.5 
December 31, 2022Fair Value, GrossFair Value, Net
Derivative
Assets		Derivative LiabilitiesDerivative
Assets		Derivative Liabilities
Derivatives - undesignated:
Foreign exchange contracts$582.2 $540.0 $266.9 $224.7 
Less: Cash collateral56.1 148.2 56.1 148.2 
Total net derivative assets and liabilities$526.1 $391.8 $210.8 $76.5 
Schedule of Derivative Assets at Fair Value
The following table presents the Company’s spot trade assets and liabilities at their fair value for the years ended December 31, 2023 and 2022 (in millions):
December 31, 2023December 31, 2022
Gross Offset on the Balance SheetNet GrossOffset on the Balance SheetNet
Assets
Accounts Receivable$2,499.9 $(2,373.8)$126.1 $2,409.8 $(2,266.0)$143.8 
Liabilities
Accounts Payable$2,457.3 $(2,373.8)$83.5 $2,332.5 $(2,266.0)$66.5 
The following table presents the fair value of the Company’s derivative assets and liabilities, as well as their classification on the accompanying Consolidated Balance Sheets, as of December 31, 2023 and December 31, 2022 (in millions):
20232022
  Balance Sheet ClassificationFair Value
   
Derivative AssetsPrepaid expenses and other current assets$254.2 $204.9 
Derivative AssetsOther assets$66.0 $62.0 
Derivative LiabilitiesOther current liabilities$190.4 $184.1 
Derivative LiabilitiesOther noncurrent liabilities$54.3 $40.6 
Schedule of Derivative Liabilities at Fair Value The following table presents the fair value of the Company’s derivative assets and liabilities, as well as their classification on the accompanying Consolidated Balance Sheets, as of December 31, 2023 and December 31, 2022 (in millions):
20232022
  Balance Sheet ClassificationFair Value
   
Derivative AssetsPrepaid expenses and other current assets$254.2 $204.9 
Derivative AssetsOther assets$66.0 $62.0 
Derivative LiabilitiesOther current liabilities$190.4 $184.1 
Derivative LiabilitiesOther noncurrent liabilities$54.3 $40.6 
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location
The table below presents the fair value of the Company’s interest rate swap contracts, as well as their classification on the Consolidated Balance Sheets, as of December 31, 2023 and 2022 (in millions). See Note 4 for additional information on the fair value of the Company’s swap contracts.
  Balance Sheet Classification20232022
Derivatives designated as cash flow hedges:        
Swap contractsPrepaid expenses and other current assets$23.5 $12.0 
Swap contractsOther noncurrent liabilities$55.8 $—