Fair Value (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value [Abstract]

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

Financial assets and liabilities measured at fair value on a recurring basis:

	March 31, 2024								December 31, 2023
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	3,172.8					$	3,172.8	$	4,432.0					$	4,432.0
Marketable equity securities	0.8						0.8		0.9						0.9
Cross currency swaps - net  investment hedge			$	4.2			4.2				$	—			—
Liabilities:
Cross currency swaps - net  investment hedge			—				—				$	6.6			$	6.6
Contingent purchase price obligations					$	258.6	258.6						$	229.5	229.5

Changes in Contingent Purchase Price Obligations

Changes in contingent purchase price obligations:

	Three Months Ended March 31,
	2024		2023
January 1	$	229.5	$	115.0
Acquisitions	26.5		21.6
Revaluation and interest	3.2		0.4
Payments	(0.5)		(9.2)
Foreign currency translation	(0.1)		0.2
March 31	$	258.6	$	128.0

Carrying Amount and Fair Value of Financial Assets and Liabilities

Carrying amount and fair value of our financial assets and liabilities:

	March 31, 2024				December 31, 2023
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Cash and cash equivalents	$	3,172.8	$	3,172.8	$	4,432.0	$	4,432.0
Marketable equity securities	0.8		0.8		0.9		0.9
Cross currency swaps - net investment hedge	4.2		4.2		—		—
Non-marketable equity securities	12.5		12.5		6.7		6.7
Liabilities:
Short-term debt	$	11.2	$	11.2	$	10.9	$	10.9
Cross currency swaps - net investment hedge	—		—		6.6		6.6
Contingent purchase price obligations	258.6		258.6		229.5		229.5
Long-term debt	6,251.3		5,822.1		5,639.6		5,237.8