Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Company's Financial Assets and (Liabilities) at Fair Value on Recurring Basis

The following table summarizes the basis used to measure the Company’s financial assets (liabilities) at fair value on a recurring basis in the balance sheets at March 31, 2024 and December 31, 2023:

	Basis of Fair Value Measurements
	March 31, 2024		December 31, 2023
	Level 1		Level 1
Trading securities - mutual funds held in nonqualified SERP(1)	$	10.3	$	10.5
Available-for-sale securities - equities(2)	4.4		4.4

(1) The Supplemental Executive Retirement Plan (“SERP”) investment assets are offset by a SERP liability which represents the Company’s obligation to distribute SERP funds to participants. The SERP investment assets and liability are included in Other noncurrent assets and Other noncurrent liabilities, respectively, on the Condensed Consolidated Balance Sheets.

(2) The securities are included in Other current assets on the Condensed Consolidated Balance Sheets and are available for overnight cash settlement, if necessary, to fund current operations.

Schedule of Fair Value of the Outstanding Indebtedness

The following table provides the fair value of the outstanding indebtedness described in Note 8, “Borrowings,” which is based on quoted market prices and current market rates for debt with similar credit risk and maturity, as well as the carrying value. These fair value measurements are classified as Level 2 within the fair value hierarchy since they are determined based upon significant inputs observable in the market, including interest rates on recent financing transactions to entities with a credit rating similar to the Company’s rating.

	March 31, 2024				December 31, 2023
	Fair Value		Carrying Amount		Fair Value		Carrying Amount
Total Borrowings, less unaccreted debt discount	$	1,239.7	$	1,329.9	$	1,203.5	$	1,332.2