External Debt and Financing Arrangements - Additional Information (Detail) - USD ($) | 1 Months Ended | 3 Months Ended | |
Apr. 30, 2020 | Sep. 30, 2019 | Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 |
Debt Instrument [Line Items] | | | | | |
Aggregate outstanding notes | | | $ 2,200,000,000 | | |
Repayment of long-term debt | | | 130,000,000 | $ 160,000,000 | |
Term loan maturity period | | 2019-03 | | | |
Uncommitted bank lines of credit, which provide for unsecured borrowings for working capital | | | 17,500,000 | | $ 17,500,000 |
Uncommitted bank lines of credit, which provide for unsecured borrowings for working capital amount outstanding | | | 0 | | 0 |
Term Loan Facility [Member] | | | | | |
Debt Instrument [Line Items] | | | | | |
Senior unsecured notes, price | | $ 350,000,000 | | | |
Repayment of long-term debt | | $ 350,000,000 | | | |
Term loan maturity period | | 2020-03 | | | |
Term loan, outstanding borrowings | | | 0 | | 0 |
Debt instrument, description | | In September 2019, the Company used the proceeds from the 2019 Notes to repay the full outstanding balance on the Term Loan entered into in March 2018 and subsequently amended in August 2018 and March 2019 (the “Term Loan”). Following the March 2019 amendment, the Term Loan provided for borrowings of $350 million and matured in March 2020. At March 31, 2020 and December 31, 2019, amounts due under the Term Loan were zero. | | | |
3.000% Senior Notes [Member] | | | | | |
Debt Instrument [Line Items] | | | | | |
Senior unsecured notes, price | | | $ 400,000,000 | | |
Senior unsecured notes, coupon rate | | 3.00% | | | |
Maturity date | | 2020-06 | 2020-06 | | |
2019 Senior Notes [Member] | Notes due 2029 [Member] | | | | | |
Debt Instrument [Line Items] | | | | | |
Senior unsecured notes, price | | $ 700,000,000 | | | |
Senior unsecured notes, maturity year | | 2029 | | | |
Senior unsecured notes, coupon rate | | 3.25% | | | |
2020 Revolving Credit Agreement [Member] | Subsequent Event [Member] | | | | | |
Debt Instrument [Line Items] | | | | | |
Line of Credit Facility, Maximum Borrowing Capacity | $ 400,000,000 | | | | |
Debt Instrument, Description of Variable Rate Basis | Interest rates under the 2020 Revolving Credit Agreement are variable based on LIBOR at the time of the borrowing and the Company’s long-term credit rating and can range from LIBOR + 1.40% to LIBOR + 1.8%. | | | | |
Debt instrument, covenant description | The 2020 Revolving Credit Agreement includes a covenant under which the Company is required to maintain a minimum ratio of consolidated EBITDA to consolidated interest expense of 3.0 to 1.0. Consolidated EBITDA is defined as consolidated net income before interest expense, income taxes, depreciation, amortization of intangible assets, losses from asset impairments, and certain other one-time adjustments. In addition, the 2020 Revolving Credit Agreement includes a covenant under which the Company’s ratio of consolidated total indebtedness minus certain cash and cash equivalents to consolidated EBITDA generally may not exceed 3.5 to 1.0. | | | | |
Required minimum ratio of consolidated EBITDA to consolidated interest expense | 3 | | | | |
Ratio of consolidated debt minus certain cash and cash equivalents to consolidated EBITDA | 3.5 | | | | |
2020 Revolving Credit Agreement [Member] | LIBOR [Member] | Minimum [Member] | Subsequent Event [Member] | | | | | |
Debt Instrument [Line Items] | | | | | |
Interest rate over LIBOR | 1.40% | | | | |
2020 Revolving Credit Agreement [Member] | LIBOR [Member] | Maximum [Member] | Subsequent Event [Member] | | | | | |
Debt Instrument [Line Items] | | | | | |
Interest rate over LIBOR | 1.80% | | | | |
2019 Revolving Credit Agreement [Member] | | | | | |
Debt Instrument [Line Items] | | | | | |
Line of Credit Facility, Maximum Borrowing Capacity | | $ 1,250,000,000 | | | |
Debt Instrument, Description of Variable Rate Basis | | Interest rates under the 2019 Revolving Credit Agreement are variable based on LIBOR at the time of the borrowing and the Company’s long-term credit rating and can range from LIBOR + 0.91% to LIBOR + 1.4%. | | | |
Term loan maturity period | | 2024-09 | | | |
Rollover amount from prior credit facility included in current facility | | $ 165,000,000 | | | |
Term loan, outstanding borrowings | | | $ 250,000,000 | | $ 0 |
2019 Revolving Credit Agreement [Member] | LIBOR [Member] | Minimum [Member] | | | | | |
Debt Instrument [Line Items] | | | | | |
Interest rate over LIBOR | | 0.91% | | | |
2019 Revolving Credit Agreement [Member] | LIBOR [Member] | Maximum [Member] | | | | | |
Debt Instrument [Line Items] | | | | | |
Interest rate over LIBOR | | 1.40% | | | |