Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2024

The estimated fair value of financial instruments at March 31, 2024 was as follows:


			Fair Value Measurements at Reporting Date Using
(In millions)	Total Carrying Amount		Total Estimated Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)
Cash and cash equivalents	$	394.4	$	394.4	$	394.4	$	—
Derivative financial instruments:
Assets	0.5		0.5		—		0.5
Liabilities	10.7		10.7		—		10.7
Debt (a)	2,192.0		2,836.8		2,536.2		300.6

The estimated fair value of financial instruments at December 31, 2023 was as follows:


			Fair Value Measurements at Reporting Date Using
(In millions)	Total Carrying Amount		Total Estimated Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)
Cash and cash equivalents	$	743.9	$	743.9	$	743.9	$	—
Derivative financial instruments:
Assets	0.9		0.9		—		0.9
Liabilities	14.2		14.2		—		14.2
Debt (a)	2,199.2		2,746.7		2,438.9		307.8

(a)The total carrying amount for debt for both periods excludes debt issuance costs related to the recognized debt liability which is presented in the consolidated balance sheet as a direct reduction from the carrying amount of the debt liability.