v3.25.2
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on a Recurring Basis
Our financial assets and liabilities that are measured at fair value on a recurring basis are as follows (in millions):
  Fair Value Measurements at Reporting Date Using
As of June 30, 2025Fair ValueQuoted Prices in Active Markets for Identical Assets
(Level 1)
Significant Other Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
Valuation Technique (1)
Equity securities$39.8 $18.7 $21.1 $— M
Available for sale debt securities:
U.S. government and agency securities48.9 48.9 — — M
Corporate bonds and notes39.4 — 39.4 — M
Redeemable noncontrolling interests55.1 — — 55.1 I
As of December 31, 2024
Equity securities$130.9 $4.2 $126.7 $— M
Redeemable noncontrolling interests56.5 — — 56.5 I
(1) The two valuation techniques are: market approach (M) and income approach (I).
Schedule of Carrying Amounts and Estimated Fair Values, Financial Instruments The carrying amounts and estimated fair values for all of our other financial instruments are presented in the following table (in millions):
 As of June 30, 2025As of December 31, 2024
 Carrying AmountEstimated Fair ValueCarrying AmountEstimated Fair Value
Long-term debt:    
Advances under revolving credit facility$— $— $20.0 $20.0 
5.75% Senior Notes due 2025
99.9 99.9 99.8 99.7 
4.50% Senior Notes due 2028
790.2 792.5 788.4 772.3 
4.75% Senior Notes due 2030
785.5 789.4 784.2 759.0 
4.625% Senior Notes due 2031
393.0 386.1 392.5 369.9 
Other notes payable84.0 84.0 94.5 94.5 
Financial commitments:
Letters of credit— 46.7 — 36.3