Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 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 income (loss) for the quarters and six months ended June 30, 2023 and June 30, 2022 was as follows:

	Quarter Ended June 30,						Six Months Ended June 30,
(In millions)	2023			2022			2023			2022
Unrealized losses at beginning of period, net of tax	$	(4.8	)	$	(8.0	)	$	(10.5	)	$	(3.5	)
Losses reclassified to net sales		2.0			2.8			4.7			3.1
Increase (decrease) in fair value		3.2			(16.5	)		6.2			(21.3	)
Unrealized gains (losses) at end of period, net of tax	$	0.4		$	(21.7	)	$	0.4		$	(21.7	)

Schedule of Fair Values of Outstanding Financial Instruments

The fair values of outstanding derivative financial instruments as of June 30, 2023 and December 31, 2022 were as follows:

	Prepaid and Other Current Assets				Other Assets				Current Liabilities				Non-Current Liabilities
(In millions)	June 30, 2023		December 31, 2022		June 30, 2023		December 31, 2022		June 30, 2023		December 31, 2022		June 30, 2023		December 31, 2022
Derivative Products
Foreign currency forward exchange contracts	$	3.7	$	1.9	$	4.8	$	3.4	$	7.0	$	14.1	$	0.9	$	5.3
Undesignated hedges		-		-		-		-		0.8		0.7		-		-
Commodity swaps		0.1		0.5		-		-		5.9		7.2		0.8		1.4
Cross currency and interest rate swap		5.6		6.2		8.0		10.1		-		-		-		-
Total Derivative Products	$	9.4	$	8.6	$	12.8	$	13.5	$	13.7	$	22.0	$	1.7	$	6.7