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FINANCIAL INSTRUMENTS AND RISK MANAGEMENT (Tables)
 12 Months Ended
Dec. 31, 2024
Financial Instruments and Risk Management [Abstract]  
Schedule of Cash and Cash Equivalents Cash and cash equivalents are comprised of the following:
December 31
20242023
Cash
$415.4 $366.8 
Cash equivalents
7.9 3.6 
$423.3 $370.4 
Schedule of Derivative Instruments
Derivatives not designated as hedging instruments (economic hedges):
Asset DerivativesLiability Derivatives
Fair ValueFair Value
Balance sheet classificationDecember 31
2024		December 31
2023		Balance sheet classificationDecember 31
2024		December 31
2023
Foreign currency contractsOther current assets$8.9 $15.8 
Other current liabilities
$13.1 $9.3 
TRS
Other current assets99.4 40.6 
Other current liabilities
— — 
Interest rate swaps
Other current assets— 2.2 
Other current liabilities
— — 
Interest rate swaps
Other non-current assets
— 11.0 
Other non-current liabilities
— — 

Location of Loss (Gain) Recognized
Amount of Loss (Gain) Recognized in Income
Year ended December 31
202420232022
Foreign currency contracts
Cost of sales
$(0.9)$— $— 
SG&A
1.0 — — 
Miscellaneous expense (income)
— 2.0 18.4 
TRS
Cost of sales(39.6)— — 
SG&A(51.4)— — 
Miscellaneous expense (income)
— (45.6)— 
Interest rate swaps
Miscellaneous expense (income)
— (3.6)(23.0)

Derivatives designated as cash flow hedges:
Asset DerivativesLiability Derivatives
Balance sheet classification
Fair Value at December 31, 2024 (iii)
Balance sheet classification
Fair Value at December 31, 2024 (iii)
Foreign currency contracts (i)
Other current assets$3.5 
Other current liabilities
$17.8 
Interest rate swaps (ii)
Other current assets6.6 
Other current liabilities
— 
(i)    In the next twelve months, we estimate that $9.4 of existing losses, net of tax, will be reclassified from AOCI into our consolidated statement of operations, to offset transactions denominated in foreign currencies. The maximum length of time we hedge our exposure to the variability in future cash flows for forecasted foreign currency transactions is 12 months.
(ii)    In the next twelve months, we estimate that $6.6 of existing gains, net of tax, will be reclassified from AOCI into our consolidated statement of operations, to offset interest payments. The maximum length of time that we hedge our exposure to the variability in future cash flows for forecasted interest payments is 12 months.
(iii)    Prior to 2024, we had no cash flow hedges using foreign currency contracts and interest rate swaps in designated accounting hedges. In January 2024, foreign currency forward contracts and interest rate swaps were designated as cash flow hedges when the hedging relationship is effective and meets the hedge accounting criteria.

Loss (gain) reclassified from AOCI into income for 2024 (i)
Foreign currency contracts
Interest rate swaps
Cost of sales
$11.2 $— 
SG&A
1.8 — 
Finance costs
— (11.1)
Miscellaneous expense (income)
6.0 8.5 
(i)    Nil effects of cash flow hedges were recorded in cost of sales, SG&A and finance costs during 2023 and 2022 and hence were not presented.