Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Carrying Amounts and Estimated Fair Values of Other Financial Instruments

The following table provides the carrying amounts and estimated fair values of the Company’s financial instruments at September 30, 2022 and December 31, 2021:

		September 30, 2022						December 31, 2021
	Input	Carrying			Fair			Carrying		Fair
	Level	Amount			Value			Amount		Value
Financial Assets:
Cash equivalents	Level 1	$	192.0		$	192.0		$	17.1	$	17.1
Financial Liabilities:
Short-term borrowings	Level 2		3.3			3.3			252.8		252.8
2.45% Senior notes due August 1, 2022	Level 2		0.0			0.0			300.0		302.9
2.875% Senior notes due October 1, 2022	Level 2		400.0			400.0			399.9		406.4
Term loan due December 22, 2024	Level 2		400.0			400.0			400.0		400.0
3.15% Senior notes due August 1, 2027	Level 2		424.8			387.7			424.7		450.1
2.3% Senior notes due December 15, 2031	Level 2		399.2			313.2			399.2		403.5
3.95% Senior notes due August 1, 2047	Level 2		397.6			313.5			397.5		471.6
5.00% Senior notes due June 15, 2052	Level 2		499.8			458.3		0.0		0.0
Interest Rate Lock Agreement (asset) liability	Level 2		(12.5	)		(12.5	)		41.6		41.6
Business Acquisition Liabilities	Level 3		34.0			34.0			34.0		34.0