Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure Shareholders Equity [Abstract]

Schedule of share repurchases

The Company has made the following share repurchases (in millions):

	For the Years Ended December 31,
	2022		2021		2020
Total number of shares repurchased and retired	4.4		3.8		0.6
Total investment	$	505.0	$	461.6	$	50.3

Schedule of cash dividends declared per common share

Dividends. Quarterly and total year cash dividends declared per common share for the years ended December 31, 2022, 2021, and 2020 were as follows: 

	For the Years Ended December 31,
	2022		2021		2020
Quarterly dividend declared and paid per common share	$	0.64	$	0.63	$	0.62
Total dividends declared and paid per common share	$	2.56	$	2.52	$	2.48

Schedule of reconciliation of weighted average number of shares

Reconciliations of these amounts are as follows (in millions):

	For the Years Ended December 31,
	2022	2021	2020
Weighted average number of common shares outstanding	58.9	61.0	61.5
Director Plan and deferred stock units	0.2	0.2	0.2
ESOP	0.2	0.1	0.2
Common shares outstanding—basic	59.3	61.3	61.9
Dilutive effect of restricted stock awards	0.4	0.7	0.5
Dilutive effect of stock option awards	0.4	0.7	0.2
Common and potential common shares outstanding—diluted	60.1	62.7	62.6

Schedule of changes in accumulated other comprehensive income (loss) balances

Changes in the accumulated other comprehensive loss balance were as follows (in millions):

	Foreign Currency Translation		Cash Flow Hedging Derivatives		Retirement Plan Activity		Accumulated Other Comprehensive Loss
Balance as of December 31, 2021	$	(69.5)	$	(4.4)	$	(3.5)	$	(77.4)
Reclassification to the statement of income	—		(15.0)		0.3		(14.7)
Change in fair value	(25.3)		29.9		—		4.6
Balance as of December 31, 2022	$	(94.8)	$	10.5	$	(3.2)	$	(87.5)

Schedule of gains and losses, net of tax, reclassified from accumulated other comprehensive income into the income statement for cash flow derivatives designated as hedging instruments

The table below provides the amount of gains and losses, net of tax, reclassified from accumulated other comprehensive loss into the income statement for cash flow derivatives designated as hedging instruments and retirement plan activity for the years ended December 31, 2022 and 2021 (in millions): 

Derivatives in Cash Flow Hedging Relationships and Other Activity	Location of Gain (Loss) Reclassified from Accumulated OCI into Income	For the Years Ended December 31,
		2022		2021
Foreign currency contracts	Other (income) expense, net	$	12.2	$	(0.3)
Foreign currency contracts	Cost of sales	2.1		0.5
Interest rate contracts	Interest expense	1.0		(8.1)
Other activity	Cost of sales / operating expenses	(0.6)		(0.3)
Total		$	14.7	$	(8.2)