Financial Instruments and Risk Management (Tables)

12 Months Ended

Dec. 31, 2022

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, 2022:

	Asset			Liability
	Balance Sheet Classification	Fair Value		Balance Sheet Classification	Fair Value
Derivatives designated as hedges:
Foreign exchange forward contracts	Prepaid expenses and other	$	9.2	Accounts payable	$	9.1
Derivatives not designated as hedges:
Foreign exchange forward contracts	Prepaid expenses and other	$	.6	Accounts payable	$	4.6
Total derivatives		$	9.8		$	13.7

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, 2021:

	Asset			Liability
	Balance Sheet Classification	Fair Value		Balance Sheet Classification	Fair Value
Derivatives not designated as hedges:
Foreign exchange forward contracts	Prepaid expenses and other	$	—	Accounts payable	$	2.7
Total derivatives		$	—		$	2.7

The following table presents the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis at December 31, 2022:

	Level 1		Level 2		Total
Assets:
Foreign exchange forward contracts	$	—	$	.3	$	.3
Total	$	—	$	.3	$	.3
Liabilities:
Foreign exchange forward contracts	$	—	$	—	$	—
Total	$	—	$	—	$	—

The following table presents the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis at December 31, 2021:

	Level 1		Level 2		Total
Liabilities:
Foreign exchange forward contracts	$	—	$	2.7	$	2.7
Total	$	—	$	2.7	$	2.7