Financing Agreement (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The carrying value of debt, finance lease obligations, and notes payable and the average related interest rates were as follows (in millions):

	Average interest rate as of December 31, 2021	Maturity	December 31, 2021		December 31, 2020
Revolving loan facility	—	June 2026	$	—	$	—
Term loan facility	1.23%	June 2026	876.0		940.0
Incremental term loan	0.98%	December 2022	500.0		—
Senior notes—fixed rate	—	May 2021	—		75.0
Senior notes—fixed rate	4.23%	July 2028	350.0		350.0
Finance lease obligations	5.20%	Various through 2029	13.5		16.2
Notes payable and other	4.24%	Various through 2030	68.3		75.0
Debt issuance costs			(7.1)		(5.5)
Total debt, finance lease obligations, and notes payable			$	1,800.7	$	1,450.7
Less: current maturities			553.3		142.1
Total long-term debt, finance lease obligations, and notes payable			$	1,247.4	$	1,308.6

Summary of Activity Under Credit Arrangements, Excluding Acquired Borrowings

The following summarizes activity under the Company’s credit arrangements (in millions):

	2021		2020		2019
Total borrowings as of December 31	$	1,726.0	$	1,365.0	$	1,600.1
Average outstanding borrowings during year	$	1,500.4	$	1,879.7	$	1,912.0
Maximum outstanding borrowings during year	$	1,903.0	$	2,370.6	$	2,127.9
Weighted-average interest rate as of December 31	1.77%		2.30%		3.29%