Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Carrying Amounts and Estimated Fair Values of Other Financial Instruments

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

		December 31, 2022				December 31, 2021
	Input	Carrying		Fair		Carrying		Fair
	Level	Amount		Value		Amount		Value
Financial Assets:
Cash equivalents	Level 1	$	153.9	$	153.9	$	17.1	$	17.1
Financial Liabilities:
Short-term borrowings	Level 2		74.0		74.0		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		0.0		0.0		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		397.3		424.7		450.1
2.3% Senior notes due December 15, 2031	Level 2		399.3		321.3		399.2		403.5
5.6% Senior notes due November 15, 2032	Level 2		499.1		518.9		0.0		0.0
3.95% Senior notes due August 1, 2047	Level 2		397.6		316.7		397.5		471.6
5.0% Senior notes due June 15, 2052	Level 2		499.7		464.7		0.0		0.0
Interest Rate Swap Lock Agreement liability	Level 2		0.0		0.0		41.6		41.6