Borrowings (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Schedule of Borrowings

Borrowings at March 31, 2024 and December 31, 2023 consisted of the following: 

	March 31, 2024		December 31, 2023
3.37% Senior Notes, due June 2025 (the “3.37% Senior Notes”)	100.0		100.0
5.13% Senior Notes, due June 2028 (the “5.13% Senior Notes”)	100.0		100.0
3.00% Senior Notes, due May 2030 (the “3.00% Senior Notes”)	500.0		500.0
2.625% Senior Notes, due June 2031 (the “2.625% Senior Notes”)	500.0		500.0
$800.0 million Revolving Facility, due November 2027 (the “Revolving Facility”)(1)	78.8		81.0
$200.0 million Term Facility, due November 2027 (the “Term Facility”)(2)	50.0		50.0
Other borrowings	2.1		2.3
Total borrowings	1,330.9		1,333.3
Less: current portion	0.7		0.6
Less: deferred debt issuance costs	6.3		6.5
Less: unaccreted debt discount	1.0		1.1
Long-term borrowings	$	1,322.9	$	1,325.1

(1) At March 31, 2024, there was $78.8 million outstanding under the Revolving Facility and $3.4 million of outstanding letters of credit, resulting in a net available borrowing capacity under the Revolving Facility of approximately $717.8 million. The weighted-average interest rate for borrowings outstanding under the Revolving Facility was 5.02% and 4.22% as of March 31, 2024 and December 31, 2023, respectively.

(2) The weighted-average interest rate for borrowings outstanding under the Term Facility was 6.66% and 6.22% as of March 31, 2024 and December 31, 2023, respectively.