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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2023
Fair Value Measurements  
Schedule of Assets and Liabilities at Fair Value on Recurring Basis

June 30, 2023

 

Quoted Prices in Active Markets for Identical Items

Significant Other Observable Inputs

Significant Unobservable Inputs

 

Assets (Liabilities) at Fair Value

    

(Level 1)

    

(Level 2)

    

(Level 3)

    

Total

 

Foreign exchange forward contracts—(Liabilities)

$

$

(6.4)

$

$

(6.4)

Commodity economic hedges—(Liabilities)

(11.8)

(11.8)

Commodity cash flow hedges—(Liabilities)

(25.5)

(25.5)

Total fair value

$

$

(43.7)

$

$

(43.7)

December 31, 2022

 

Quoted Prices in Active Markets for Identical Items

Significant Other Observable Inputs

Significant Unobservable Inputs

 

Assets (Liabilities) at Fair Value

    

(Level 1)

    

(Level 2)

    

(Level 3)

    

Total

 

Foreign exchange forward contracts—Assets

$

    

$

0.1

    

$

    

$

0.1

Foreign exchange forward contracts—(Liabilities)

(11.0)

(11.0)

Commodity economic hedges—(Liabilities)

(6.6)

(6.6)

Commodity cash flow hedges—(Liabilities)

(12.2)

(12.2)

Total fair value

$

$

(29.7)

$

$

(29.7)

Estimated Fair Value of Outstanding Debt Not Carried at Fair Value

    

As of

As of

 

    

June 30, 2023

    

December 31, 2022

 

2029 Senior Notes

$

211.3

$

292.3

2028 Term Loan B

585.6

687.1

2025 Senior Notes

419.5

416.9

2024 Term Loan B

638.9

645.6

Total fair value

$

1,855.3

$

2,041.9