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FINANCIAL INSTRUMENTS AND RISK MANAGEMENT (Tables) | 3 Months Ended
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Mar. 31, 2025
Financial Instruments and Risk Management [Abstract] |
Schedule of Derivative Instruments | The tables below present information regarding the fair values of derivative instruments and the effects of derivative instruments on our consolidated financial statements: Derivatives not designated as hedging instruments (economic hedges):
| Asset Derivatives |  | Liability Derivatives |
|  |  | Fair Value |  |  |  |  | Fair Value |
| Balance sheet classification |  | March 31, 2025 |  | December 31, 2024 |  | Balance sheet classification |  |  | March 31, 2025 |  | December 31, 2024 |
Foreign currency forward contracts | Other current assets |  | $ | 1.3 |  |  | $ | 8.9 |  |  | Other current liabilities |  |  | $ | 4.2 |  |  | $ | 13.1 |  |
TRS | Other current assets |  | — |  |  | 99.4 |  |  | Other current liabilities |  |  | 18.3 |  |  | — |  |
Location of Loss (Gain) Recognized |  | Amount of Loss (Gain) Recognized in Income
|  | Three months ended March 31 |  |
|  | 2025 |  | 2024 |  |  |  |
Foreign currency forward contracts |  |  |  |  |  |  |  |
Cost of sales |  | $ | (0.3) |  |  | $ | 0.1 |  |  |  |  |
SG&A |  | 2.6 |  |  | 4.5 |  |  |  |  |
TRS |  |  |  |  |  |  |  |
Cost of sales |  | 7.5 |  |  | (12.8) |  |  |  |  |
SG&A |  | 11.6 |  |  | (18.7) |  |  |  |  |
Derivatives designated as cash flow hedges:
|  |  | Asset Derivatives |  |  |  |  |  |  | Liability Derivatives |  |  |
|  |  | Fair Value |  |  |  |  | Fair Value |  |  |
| Balance sheet classification |  | March 31, 2025 | December 31, 2024 |  |  |  | Balance sheet classification |  |  | March 31, 2025 | December 31, 2024 |  |  |
Foreign currency forward contracts (i) | Other current assets |  | $ | 2.6 |  | $ | 3.5 |  |  |  |  | Other current liabilities |  |  | $ | 8.1 |  | $ | 17.8 |  |  |  |
Interest rate swaps (ii) | Other current assets |  | 4.8 |  | 6.6 |  |  |  |  | Other current liabilities |  |  | — |  | — |  |  |  |
Interest rate swaps (ii) | Other non-current assets |  | — |  | — |  |  |  |  | Other non-current liabilities |  |  | 1.7 |  | — |  |  |  |
(i) In the next twelve months, we estimate that $3.1 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 $4.8 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 4.2 years.
Loss (gain) Reclassified from AOCI into Income | Three months ended March 31
(see note 10 for activities recorded in AOCI for the periods indicated) | 2025 |  | 2024
Foreign currency forward contracts |  |  |
Cost of sales | $ | 3.7 |  |  | $ | 2.5 |
SG&A | 0.9 |  |  | 0.3 |
Miscellaneous expense | — |  |  | 3.6 |
Interest rate swaps |  |  |
Finance costs | $ | (1.8) |  |  | $ | (3.1) |
Miscellaneous expense | 1.3 |  |  | 2.7 |

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-5 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C + Details
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