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Financial Instruments and Risk Management (Tables)
12 Months Ended
Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value of Derivative Instruments The following table presents the fair value of derivative instruments at December 31, 2020:
AssetLiability
Balance Sheet
Classification
Fair
Value
Balance Sheet
Classification
Fair
Value
Derivatives not designated as hedges:
Foreign exchange forward contractsPrepaid expenses and other$2.8 Accounts payable$6.0 
Total derivatives$2.8 $6.0 

Derivatives are recognized in the Consolidated Balance Sheets at their fair values. The following table presents the fair value of derivative instruments at December 31, 2019:
AssetLiability
Balance Sheet
Classification
Fair
Value
Balance Sheet
Classification
Fair
Value
Derivatives designated as hedges:
Foreign exchange forward contractsPrepaid expenses and other$— Accounts payable$.6 
Derivatives not designated as hedges:
Foreign exchange forward contractsPrepaid expenses and other$5.6 Accounts payable$3.2 
Total derivatives$5.6 $3.8 
The following table presents the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of December 31, 2020:
 Level 1Level 2Total
Assets:
Available-for-sale securities$4.2 $— $4.2 
Foreign exchange forward contracts$— $2.8 $2.8 
Total$4.2 $2.8 $7.0 
Liabilities:
Foreign exchange forward contracts$— $6.0 $6.0 
Total$— $6.0 $6.0 

The following table presents the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of December 31, 2019:
 Level 1Level 2Total
Assets:
Available-for-sale securities$4.3 $— $4.3 
Foreign exchange forward contracts$— $5.6 $5.6 
Total$4.3 $5.6 $9.9 
Liabilities:
Foreign exchange forward contracts$— $3.8 $3.8 
Total$— $3.8 $3.8