Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2024

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, 2024 and March 31, 2023 was as follows:

	Quarter Ended March 31,
(In millions)	2024			2023
Unrealized gains (losses) at beginning of period, net of tax	$	5.3		$	(10.5	)
Losses reclassified to net sales		0.5			2.7
(Decrease) increase in fair value		(5.3	)		3.0
Unrealized gains (losses) at end of period, net of tax	$	0.5		$	(4.8	)

Schedule of fair value of outstanding derivative financial instruments

The fair value of outstanding derivative financial instruments as of March 31, 2024 and December 31, 2023 were as follows:

	Prepaid and Other Current Assets		Other Assets		Current Liabilities		Non-Current Liabilities
(In millions)	March 31, 2024	December 31, 2023	March 31, 2024	December 31, 2023	March 31, 2024	December 31, 2023	March 31, 2024	December 31, 2023
Derivative Products
Foreign currency forward exchange contracts	$3.3	$4.8	$2.0	$5.5	$3.9	$3.2	$0.7	$-
Undesignated hedges	0.1	-	-	-	-	1.4	-	-
Commodity swaps	0.9	0.5	0.1	0.2	0.6	1.5	0.3	0.2
Cross currency and interest rate swap	5.8	4.3	5.6	3.7	-	-	-	-
Total Derivative Products	$10.1	$9.6	$7.7	$9.4	$4.5	$6.1	$1.0	$0.2