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Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Summary of Designated and Non-designated Cash Flow Hedges | A summary of the Company's designated and non-designated cash flow hedges follows:
|  | December 31, 2020 |  | December 31, 2019
(in millions) |  | Fair Value (1) |  | Notional Value |  | Fair Value (1) |  | Notional Value
Designated hedges |  | $ | 5.0 |  |  | $ | 93.5 |  |  | $ | 2.0 |  |  | $ | 108.1 |
Non-designated hedges |  | $ | 0.2 |  |  | $ | 65.4 |  |  | $ | 0.6 |  |  | $ | 124.4 |
(1)The fair value of foreign currency forward contracts is included in other current assets. The fair value was estimated using observable market inputs such as forward and spot prices of the underlying exchange rate pair. Based on these inputs, derivative assets and liabilities are classified as Level 2 in the fair value hierarchy.
Change in Accumulated Other Comprehensive Income Related to Cash Flow Hedges | The changes in accumulated other comprehensive income (loss) by component follows:
(in millions) |  | Accrued post-retirement benefit liability |  | Foreign currency translation |  | Derivative contracts |  | Total
Balance as of January 1, 2019 |  | $ | (38.5) |  |  | $ | (80.4) |  |  | $ | (3.2) |  |  | $ | (122.1) |
Other comprehensive income (loss): |  |  |  |  |  |  |  |
Other comprehensive (loss) income before reclassifications |  | (6.0) |  |  | (2.1) |  |  | 1.3 |  |  | (6.8) |
Amounts reclassified from accumulated other comprehensive income (loss)(1) |  | 3.4 |  |  | — |  |  | 0.8 |  |  | 4.2 |
Income tax benefit |  | 0.6 |  |  | — |  |  | — |  |  | 0.6 |
Other comprehensive (loss) income |  | (2.0) |  |  | (2.1) |  |  | 2.1 |  |  | (2.0) |
Balance as of December 31, 2019 |  | (40.5) |  |  | (82.5) |  |  | (1.1) |  |  | (124.1) |
Other comprehensive income (loss): |  |  |  |  |  |  |  |
Other comprehensive (loss) income before reclassifications |  | (5.3) |  |  | 39.4 |  |  | (10.3) |  |  | 23.8 |
Amounts reclassified from accumulated other comprehensive income (loss)(1) |  | 5.3 |  |  | — |  |  | (2.0) |  |  | 3.3 |
Other comprehensive income (loss) |  | — |  |  | 39.4 |  |  | (12.3) |  |  | 27.1 |
Balance as of December 31, 2020 |  | $ | (40.5) |  |  | $ | (43.1) |  |  | $ | (13.4) |  |  | $ | (97.0) |
(1)The accrued post-retirement benefit liability reclassification pertains to the amortization of unrecognized actuarial gains and losses and prior service credits which is included in net periodic benefit cost. See Note 15 for additional pension discussion.

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- Definition Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure for cash flow hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the 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 4C -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 + Details
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