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Financial Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Values of Derivative Instruments Included on Consolidated Balance Sheet

The following table presents the fair values of derivative instruments included on the Condensed Consolidated Balance Sheet:

			Derivative Assets																		Derivative Liabilities
In millions			Balance Sheet Classification						March 31, 2022						December 31, 2021						Balance Sheet Classification						March 31, 2022						December 31, 2021
Derivatives designated as hedging instruments
Foreign currency			Prepaid expenses and other current assets						$	39.8					$	42.4					Accrued payroll and other liabilities						$	(6.2)					$	(3.3)
Interest rate			Prepaid expenses and other current assets						21.8						0.3						Accrued payroll and other liabilities						—						—
Foreign currency			Miscellaneous other assets						32.6						28.0						Other long-term liabilities						(1.6)						(0.5)
Interest rate			Miscellaneous other assets						—						8.6						Other long-term liabilities						(41.3)						(4.1)
Total derivatives designated as hedging instruments									$	94.2					$	79.3											$	(49.1)					$	(7.9)
Derivatives not designated as hedging instruments
Equity			Prepaid expenses and other current assets						$	3.2					$	9.5					Accrued payroll and other liabilities						$	—					$	—
Foreign currency			Prepaid expenses and other current assets						—						0.5						Accrued payroll and other liabilities						(4.0)						—
Equity			Miscellaneous other assets						185.1						200.3
Total derivatives not designated as hedging instruments									$	188.3					$	210.3											$	(4.0)					$	—
Total derivatives									$	282.5					$	289.6											$	(53.1)					$	(7.9)

Derivatives Pretax Amounts Affecting Income and Other Comprehensive Income

The following table presents the pre-tax amounts from derivative instruments affecting income and AOCI for the quarters ended March 31, 2022 and 2021, respectively:

			Location of gain or loss recognized in income on derivative									Gain (loss) recognized in AOCI															Gain (loss) reclassified into income from AOCI															Gain (loss) recognized in income on derivative
In millions																								2022																											2021									2022									2021									2022									2021
Foreign currency						Nonoperating income/expense																		$	13.5																										$	29.9								$	14.1								$	(17.8)
Interest rate			Interest expense									21.8									—									(1.1)									(1.6)
Cash flow hedges												$	35.3								$	29.9								$	13.0								$	(19.4)
Foreign currency denominated debt			Nonoperating income/expense									$	259.0								$	379.7								$	—								$	16.2
Foreign currency derivatives			Nonoperating income/expense									4.4									26.6
Foreign currency derivatives(1)			Interest expense																																													$	2.3								$	3.7
Net investment hedges												$	263.4								$	406.3								$	—								$	16.2								$	2.3								$	3.7
Foreign currency			Nonoperating income/expense																																													$	(4.5)								$	2.3
Equity			Selling, general & administrative expenses																																													(21.5)									20.4
Equity			Other operating income/expense, net																																													—									(4.7)
Undesignated derivatives																																																$	(26.0)								$	18.0
(1)The amount of gain (loss) recognized in income related to components excluded from effectiveness testing.

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- References

No definition available.

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- Definition

Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959

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- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959

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