Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2021

Derivative Instruments and Hedging Activities

Schedule of gains and losses on derivatives

	Year ended
	December 31,
	2021		2020
Interest rate swap contracts(1)	(in millions)
Gain recorded in AOCL on derivatives, before tax	$	8.5	$	11.8
Tax impact		(2.0)		(2.8)
Gain recorded in AOCL on derivatives, net		6.5		9.0

(1) Gains (losses) on derivatives reclassified from AOCL into income will be included in “Interest expense” in the consolidated statements of operations, the same income statement line item as the earnings effect of the hedged item. Losses recognized in the consolidated statements of operations for the year ended December 31, 2021, 2020 and 2019 total $9.5 million, $21.2 million and $6.2 million, respectively.