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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Effect of Derivative Instruments on Consolidated Condensed Statements of Operations and Consolidated Condensed Statements of Comprehensive Income (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021
Foreign currency contracts | Derivatives not designated as hedging instruments |  |  |  |
Derivative Instruments, Gain (Loss) |  |  |  |
Amount of Gain or (Loss) Recognized in Income on Derivative | $ 24.0 | $ 5.7 | $ 66.1 | $ 16.6
Cash flow hedges | Foreign currency contracts | Derivatives designated as hedging instruments |  |  |  |
Derivative Instruments, Gain (Loss) |  |  |  |
Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion) | 55.5 | 14.2 | 138.1 | 38.5
Cash flow hedges | Foreign currency contracts | Derivatives designated as hedging instruments | Cost of sales |  |  |  |
Derivative Instruments, Gain (Loss) |  |  |  |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | 27.1 | (10.8) | 50.7 | (24.6)
Cash flow hedges | Foreign currency contracts | Derivatives designated as hedging instruments | Selling, general, and administrative expenses |  |  |  |
Derivative Instruments, Gain (Loss) |  |  |  |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | 0.0 | (0.3) | 0.0 | (0.6)
Net investment hedges | Cross currency swap contracts | Derivatives designated as hedging instruments |  |  |  |
Derivative Instruments, Gain (Loss) |  |  |  |
Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion) | 16.9 | 6.5 | 40.2 | 11.9
Net investment hedges | Cross currency swap contracts | Derivatives designated as hedging instruments | Interest (income) expense, net |  |  |  |
Derivative Instruments, Gain (Loss) |  |  |  |
Amount of Gain or (Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing) | 1.8 | 1.6 | 5.4 | 4.7
Fair value hedges | Foreign currency contracts | Derivatives designated as hedging instruments |  |  |  |
Derivative Instruments, Gain (Loss) |  |  |  |
Amount of Gain or (Loss) Recognized in Income on Derivative | $ 4.5 | $ 1.0 | $ 4.5 | $ 8.8

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- Definition Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b)(1) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 + Details
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- Definition The estimated value of gains (losses), net anticipated to be transferred in the future from accumulated other comprehensive income into earnings. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 30 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=121549185&loc=d3e80845-113994 + Details
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- Definition Amount, before tax and reclassification, of gain (loss) from derivative instrument designated and qualifying cash flow hedge included in assessment of hedge effectiveness. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 20 -Section 45 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=121577181&loc=SL110061190-113977 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 11 -URI https://asc.fasb.org/extlink&oid=126968391&loc=d3e637-108580 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 10A -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669646-108580 + Details
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