Debt (Details)
€ in Millions, £ in Millions, $ in Millions |
6 Months Ended |
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Jun. 30, 2024
USD ($)
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Jun. 30, 2023
USD ($)
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Jun. 30, 2024
EUR (€)
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Jun. 30, 2024
GBP (£)
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Jan. 03, 2024
USD ($)
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Dec. 31, 2023
USD ($)
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| Short-Term Borrowings [Abstract] |
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| Short-term debt |
$ 15.1
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$ 10.9
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| Long-Term Debt [Abstract] |
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| Long-Term Debt, Gross |
6,273.4
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5,669.9
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| Unamortized discount |
(8.4)
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(7.8)
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| Unamortized debt issuance costs |
(24.8)
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(22.3)
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| Unamortized deferred loss from settlement of interest rate swaps, net |
(0.6)
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(0.2)
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| Long-term debt, current portion |
(750.2)
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(750.5)
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| Long-Term Debt |
5,489.4
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4,889.1
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| Proceeds from borrowings |
645.9
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$ 0.0
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| Credit Facility [Member] |
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| Credit Facilities [Abstract] |
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| Credit Facilities, maximum borrowing capacity |
$ 2,500.0
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| Credit Facilities, expiration date |
Jun. 02, 2028
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| Credit Facilities, amount outstanding |
$ 0.0
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| Credit Facilities, covenant terms |
The Credit Facility has and Term Loan Facility had a financial covenant that requires us to maintain a Leverage Ratio of consolidated indebtedness to consolidated EBITDA (earnings before interest, taxes, depreciation, amortization and non-cash charges) of no more than 3.5 times for the most recently ended 12-month period.
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| Credit Facilities, covenant compliance |
At June 30, 2024, we were in compliance with this covenant as our Leverage Ratio was 2.6 times.
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| Delayed Draw Term Loan Agreement |
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| Credit Facilities [Abstract] |
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| Credit Facilities, maximum borrowing capacity |
$ 600.0
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$ 600.0
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| Credit Facilities, expiration date |
Jul. 15, 2024
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| Credit Facilities, amount outstanding |
$ 0.0
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| Credit Facilities, covenant terms |
The Credit Facility has and Term Loan Facility had a financial covenant that requires us to maintain a Leverage Ratio of consolidated indebtedness to consolidated EBITDA (earnings before interest, taxes, depreciation, amortization and non-cash charges) of no more than 3.5 times for the most recently ended 12-month period.
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| Credit Facilities, covenant compliance |
At June 30, 2024, we were in compliance with this covenant as our Leverage Ratio was 2.6 times.
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| Uncommitted credit lines [Member] |
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| Credit Facilities [Abstract] |
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| Credit Facilities, maximum borrowing capacity |
$ 503.5
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| Commercial Paper [Member] |
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| Credit Facilities [Abstract] |
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| Credit Facilities, maximum borrowing capacity |
2,000.0
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| Credit Facilities, amount outstanding |
0.0
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| Euro Commercial Paper [Member] |
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| Credit Facilities [Abstract] |
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| Credit Facilities, maximum borrowing capacity |
500.0
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| Credit Facilities, amount outstanding |
0.0
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| 3.65% Senior Notes due 2024 |
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| Long-Term Debt [Abstract] |
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| Long-Term Debt, Gross |
$ 750.0
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750.0
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| Long-term debt, interest rate |
3.65%
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3.65%
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3.65%
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| 3.60% Senior Notes due 2026 |
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| Long-Term Debt [Abstract] |
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| Long-Term Debt, Gross |
$ 1,400.0
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1,400.0
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| Long-term debt, interest rate |
3.60%
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3.60%
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3.60%
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| €500 million 0.80% Senior Notes due 2027 |
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| Long-Term Debt [Abstract] |
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| Long-Term Debt, Gross |
$ 535.2
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€ 500.0
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553.0
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| Long-term debt, interest rate |
0.80%
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0.80%
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0.80%
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| 2.45% Senior Notes due 2030 |
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| Long-Term Debt [Abstract] |
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| Long-Term Debt, Gross |
$ 600.0
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600.0
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| Long-term debt, interest rate |
2.45%
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2.45%
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2.45%
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| 4.20% Senior Notes due 2030 |
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| Long-Term Debt [Abstract] |
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| Long-Term Debt, Gross |
$ 600.0
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600.0
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| Long-term debt, interest rate |
4.20%
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4.20%
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4.20%
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| €500 million 1.40% Senior Notes due 2031 |
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| Long-Term Debt [Abstract] |
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| Long-Term Debt, Gross |
$ 535.2
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€ 500.0
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553.0
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| Long-term debt, interest rate |
1.40%
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1.40%
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1.40%
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| 2.60% Senior Notes due 2031 |
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| Long-Term Debt [Abstract] |
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| Long-Term Debt, Gross |
$ 800.0
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800.0
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| Long-term debt, interest rate |
2.60%
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2.60%
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2.60%
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| €600 million $3.70% Senior Notes due 2032 |
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| Long-Term Debt [Abstract] |
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| Long-Term Debt, Gross |
$ 642.2
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£ 600.0
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0.0
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| Long-term debt, interest rate |
3.70%
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3.70%
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3.70%
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| Proceeds from borrowings |
$ 643.1
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| £325 million 2.25% Senior Notes due 2033 |
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| Long-Term Debt [Abstract] |
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| Long-Term Debt, Gross |
$ 410.8
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£ 325.0
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$ 413.9
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| Long-term debt, interest rate |
2.25%
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2.25%
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2.25%
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