Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Gain (loss) recognized on non-designated derivative instruments

The Company uses derivatives to mitigate the economic consequences associated with fluctuations in currencies and interest rates. The following table summarizes the gain (loss) recognized on derivative instruments:

Derivative instrument	Classification on consolidated statement of operations	2020		2019		2018
Interest rate swaps and non-designated hedges	Interest expense	$	(14.3)	$	(3.4)	$	(2.9)
Foreign exchange forward contracts and cash flow hedges	Net sales	1.2		0.4		2.4
Foreign exchange forward contracts and cash flow hedges	Cost of sales	—		—		0.6
Foreign exchange forward contracts and cash flow hedges	Foreign exchange gain (loss), net	(30.9)		5.0		(10.4)
Total		$	(44.0)	$	2.0	$	(10.3)

Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]

As of December 31, 2020, the Company had the following outstanding foreign currency derivatives that were used to hedge its foreign exchange risks:

Foreign Currency Derivative	Number of Instruments	Notional Sold		Notional Purchased
Currency forward agreements (USD-BRL)	6	70.0	BRL	12.7	USD