v3.26.1
Fair Value
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Fair Value Fair Value
The areas in which we utilize fair value measures of financial assets and liabilities are presented in the table below.
As of June 30, 2026
Level 1Level 2Level 3Total
Assets:
Cash equivalents:
Bank time deposits with original maturities of three months or less$— $221.7 $— $221.7 
Derivative assets (Note M)
— 5.6 — 5.6 
Diversified investments associated with the Executive Stock Unit (ESU) Program65.2 — — 65.2 
Total assets$65.2 $227.3 $— $292.5 
Liabilities:
Derivative liabilities (Note M)
$— $2.2 $— $2.2 
Liabilities associated with the ESU Program66.3 — — 66.3 
Total liabilities$66.3 $2.2 $— $68.5 
As of December 31, 2025
Level 1Level 2Level 3Total
Assets:
Cash equivalents:
Bank time deposits with original maturities of three months or less$— $217.0 $— $217.0 
Derivative assets (Note M)
— 4.5 — 4.5 
Diversified investments associated with the ESU Program60.2 — — 60.2 
Total assets$60.2 $221.5 $— $281.7 
Liabilities:
Derivative liabilities (Note M)
$— $1.2 $— $1.2 
Liabilities associated with the ESU Program62.4 — — 62.4 
Total liabilities$62.4 $1.2 $— $63.6 
There were no transfers between Level 1 and Level 2 for any of the periods presented.
The fair value for fixed rate debt (Level 1) was approximately $205.0 million less than carrying value of $1,490.9 million at June 30, 2026 and approximately $175.0 million less than carrying value of $1,490.0 million at December 31, 2025.