Financial Instruments and Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Accounted for at Fair Value

The following tables show, by level within the fair value hierarchy, the Company’s financial assets and liabilities that are accounted for at fair value on a recurring basis at December 31, 2023 and 2022 (in millions):

Asset (Liability)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Quoted Prices in Active Markets for Similar Assets (Level 2)		Unobservable inputs for which little or no market data exists (Level 3)		Total
Money market funds (a)	$	105.1	$	—	$	—	$	105.1
Available for sale investments	—		65.0		—		65.0
Trading securities	23.4		—		—		23.4
Deferred compensation plan liabilities	(23.4)		—		—		(23.4)
Derivatives:
Forward exchange contracts-(Liabilities) (c)	—		(0.5)		—		(0.5)
BALANCE AT DECEMBER 31, 2023	$	105.1	$	64.5	$	—	$	169.6

Asset (Liability)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Quoted Prices in Active Markets for Similar Assets (Level 2)		Unobservable inputs for which little or no market data exists (Level 3)		Total
Money market funds (a)	$	147.9	$	—	$	—	$	147.9
Time Deposits (a)	—		4.8		—		4.8
Available-for-sale investments	—		61.4		—		61.4
Trading securities	18.8		—		—		18.8
Deferred compensation plan liabilities	(18.8)		—		—		(18.8)
Derivatives:
Forward exchange contracts-Assets (b)	—		1.1		—		1.1
BALANCE AT DECEMBER 31, 2022	$	147.9	$	67.3	$	—	$	215.2

(a)Money market funds and time deposits are included in Cash and cash equivalents in the Consolidated Balance Sheet.

(b)Forward exchange contracts-Assets are reflected in Other current assets in the Consolidated Balance Sheet.

(c)Forward exchange contracts-(Liabilities) are reflected in Other accrued liabilities in the Consolidated Balance Sheet.