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Derivative Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Change in Fair Value of Foreign Currency Forward Exchange Contracts Under Hedge Designations

The change in fair value of our foreign currency forward exchange contracts under hedge designations recorded net of tax within accumulated other comprehensive (loss) income for the quarters and nine months ended September 30, 2022 and September 30, 2021 was as follows:

 

 

 

Quarter Ended September 30,

 

 

Nine Months Ended September 30,

 

(In millions)

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Unrealized (losses) gains at beginning of period, net of tax

 

$

(21.7

)

 

$

5.3

 

 

$

(3.5

)

 

$

10.6

 

Losses (gains) reclassified to net sales

 

 

4.8

 

 

 

(1.2

)

 

 

7.9

 

 

 

(3.7

)

Decrease in fair value

 

 

(24.7

)

 

 

(4.8

)

 

 

(46.0

)

 

 

(7.6

)

Unrealized losses at end of period, net of tax

 

$

(41.6

)

 

$

(0.7

)

 

$

(41.6

)

 

$

(0.7

)