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Derivative Financial Instruments and Hedging Activities (Tables)
12 Months Ended
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Values of All Open Derivative Instruments

The fair values of all open derivative instruments were as follows (in millions):

 

 

December 31, 2022

 

 

 

Other
Current Assets

 

 

Other Long
Term Assets

 

 

Other Current Liabilities

 

 

Other Long
Term Liabilities

 

Cash flow hedges:

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange contracts

 

$

11.1

 

 

$

 

 

$

0.3

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Not designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange contracts

 

 

1.5

 

 

 

0.1

 

 

 

1.3

 

 

 

 

 

 

$

12.6

 

 

$

0.1

 

 

$

1.6

 

 

$

 

 

 

 

December 31, 2021

 

 

 

Other
Current Assets

 

 

Other Long
Term Assets

 

 

Other Current Liabilities

 

 

Other Long
Term Liabilities

 

Cash flow hedges:

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange contracts

 

$

0.2

 

 

$

2.7

 

 

$

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Not designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange contracts

 

 

0.3

 

 

 

0.4

 

 

 

0.6

 

 

 

0.3

 

 

 

$

0.5

 

 

$

3.1

 

 

$

0.6

 

 

$

0.3

 

 

 

 

September 30, 2021

 

 

 

Other
Current Assets

 

 

Other Long
Term Assets

 

 

Other Current Liabilities

 

 

Other Long
Term Liabilities

 

Cash flow hedges:

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange contracts

 

$

0.5

 

 

$

1.8

 

 

$

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Not designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange contracts

 

 

0.2

 

 

 

0.1

 

 

 

1.5

 

 

 

0.2

 

 

 

$

0.7

 

 

$

1.9

 

 

$

1.5

 

 

$

0.2

 

Schedule of Pre-tax Effects of Derivative Instruments

The pre-tax effects of derivative instruments consisted of the following (in millions):

 

 

Classification of

 

Year Ended
December 31,

 

 

Three Months Ended
December 31,
(transition period)

 

 

Year Ended
September 30,

 

 

 

Gains (Losses)

 

2022

 

 

2021

 

 

2021

 

 

2020

 

Cash flow hedges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange contracts

 

Cost of sales

 

$

1.4

 

 

$

0.3

 

 

$

(0.7

)

 

$

0.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Not designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange contracts

 

Miscellaneous, net

 

 

0.9

 

 

 

(0.1

)

 

 

0.2

 

 

 

1.7

 

 

 

 

 

$

2.3

 

 

$

0.2

 

 

$

(0.5

)

 

$

2.3