Debt (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Debt

The following table shows the principal amount and carrying value of the Company’s outstanding debt, less unamortized discount and issuance costs as applicable, as of December 31, 2022 and 2021:

	December 31, 2022			December 31, 2021
	Principal Amount	Carrying Value		Principal Amount	Carrying Value
4.20% Senior Notes due September 2023	225.0	224.7		300.0	299.0
4.90% Senior Notes due March 2028	300.0	297.8		300.0	297.5
3.70% Senior Notes due February 2030	350.0	347.6		350.0	347.3
2.65% Senior Notes due January 2032	350.0	346.7		350.0	346.4
6.75% Senior Notes due February 2034	275.0	272.5		275.0	272.4
7.00% Fixed-to-Floating Rate Subordinated Notes due March 2048 (1)	400.0	396.5		400.0	395.9
5.25% Subordinated Notes due January 2061	250.0	244.1		250.0	244.0
Total Debt		$	2,129.9		$	2,202.5

(1)Bears a 7.00% annual interest rate to March 2028 and an annual interest rate equal to three-month LIBOR plus 4.135% thereafter. Under the terms of the debt agreement, a substitute or successor base rate will be used if the LIBOR base rate has been discontinued.

Schedule of Interest Rate Adjustment

The following table details the increase in interest rate over the issuance rate by rating with the impact equal to the sum of the number of basis points next to such rating for a maximum increase of 200 basis points over the issuance rate:

	Rating Agencies
Rating Levels	Moody’s (1)	S&P (1)	Interest Rate Increase (2)
1	Ba1	BB+	25 basis points
2	Ba2	BB	50 basis points
3	Ba3	BB-	75 basis points
4	B1 or below	B+ or below	100 basis points

(1)Including the equivalent ratings of any substitute rating agency.

(2)Applies to each rating agency individually.