Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The notional and fair values of the Company’s derivative financial instruments designated as cash flow hedges were as follows (in millions):

	June 30, 2023						December 31, 2022
	Notional Value (in U.S. Dollars)		Fair Value — Assets		Fair Value — Liabilities		Notional Value (in U.S. Dollars)		Fair Value — Assets		Fair Value — Liabilities
Foreign currency contracts	$	287.6	$	14.0	$	(3.1)	$	154.0	$	8.4	$	—
Interest rate contracts	550.0		6.7		—		550.0		5.9		—
Commodity contracts	9.0		0.2		(0.4)		—		—		—
Total	$	846.6	$	20.9	$	(3.5)	$	704.0	$	14.3	$	—

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 amounts of gains and losses related to the Company’s derivative financial instruments designated as cash flow hedges were as follows (in millions):

Derivatives Designated as Cash Flow Hedges	Location of Gain (Loss) Reclassified from Accumulated OCI into Income	Gain (Loss) Reclassified from AOCI into Income								Gain (Loss) Recognized in OCI
		Three months ended June 30,				Six months ended June 30,				Three months ended June 30,				Six months ended June 30,
		2023		2022		2023		2022		2023		2022		2023		2022
Commodity contracts	Cost of sales	$	(0.4)	$	—	$	(0.8)	$	—	$	0.4	$	(0.4)	$	1.4	$	(0.4)
Interest rate contracts	Interest expense	1.9		(1.1)		5.1		(3.0)		5.4		3.5		0.6		10.1
Foreign exchange contracts	Other (income) expense, net	1.3		1.8		4.5		3.0		(0.5)		3.0		1.9		4.7
Total		$	2.8	$	0.7	$	8.8	$	—	$	5.3	$	6.1	$	3.9	$	14.4