Borrowings (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Schedule of Borrowings

Borrowings at September 30, 2022 and December 31, 2021 consisted of the following: 

	September 30, 2022		December 31, 2021
3.20% Senior Notes, due June 2023(1)	$	100.0	$	100.0
3.37% Senior Notes, due June 2025	100.0		100.0
3.00% Senior Notes, due May 2030	500.0		500.0
2.625% Senior Notes, due June 2031	500.0		500.0
$800.0 million revolving credit facility, due May 2024 (“Revolving Facility”)(2)	—		—
Other borrowings	0.1		0.1
Total borrowings	1,200.1		1,200.1
Less deferred debt issuance costs	7.7		8.4
Less unaccreted debt discount	1.3		1.4
Total long-term borrowings	$	1,191.1	$	1,190.3

(1) As of September 30, 2022, the $100.0 million 3.20% Senior Notes, due in June 2023, have not been classified as short-term borrowings on the Condensed Consolidated Balance Sheets as the Company has the ability and intent to either refinance or repay the Notes using the available borrowing capacity of the Revolving Facility, due May 2024. As a result, the 3.20% Senior Notes remain classified as long-term borrowings in the Condensed Consolidated Balance Sheets as of September 30, 2022.

(2) At September 30, 2022, there was no balance outstanding under the Revolving Facility and $6.5 million of outstanding letters of credit, resulting in a net available borrowing capacity under the Revolving Facility at September 30, 2022 of approximately $793.5 million.