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Derivative Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2023
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 for the quarters ended March 31, 2023 and March 31, 2022 was as follows:

 

 

 

Quarter Ended March 31,

 

 

(In millions)

 

2023

 

 

2022

 

 

Unrealized losses at beginning of period, net of tax

 

$

(10.5

)

 

$

(3.5

)

 

Losses reclassified to net sales

 

 

2.7

 

 

 

0.3

 

 

Increase (decrease) in fair value

 

 

3.0

 

 

 

(4.8

)

 

Unrealized losses at end of period, net of tax

 

$

(4.8

)

 

$

(8.0

)