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Derivative Instruments (Tables)
 9 Months Ended
Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Contractual Amounts for Derivative Contracts
The following table summarizes, by currency, the contractual amounts of the Company’s foreign currency forward contracts as of the dates indicated that were designated as cash flow hedges:
(dollars in millions)September 30, 2024December 31, 2023
BuySellBuySell
Canadian dollar$— $48.9 $— $80.5 
Euro20.0 — 24.1 — 
Mexican peso26.3 — 14.2 — 
Total$46.3 $48.9 $38.3 $80.5 
The following table summarizes the contractual amounts of the Company's foreign exchange contracts that are designated as balance sheet hedges:
(dollars in millions)September 30, 2024December 31, 2023
BuySellBuySell
Canadian dollar$— $18.7 $44.1 $— 
Chinese yuan— — 206.8 — 
Total$— $18.7 $250.9 $— 
Schedule of Effect of Derivatives on the Statement of Earnings
The effect of cash flow hedges on the condensed consolidated statement of earnings:
Three Months Ended September 30 (dollars in millions):
Derivatives in ASC 815 cash flow hedging relationshipsAmount of (loss) gain recognized in other
comprehensive
loss on derivatives		Location of (loss) gain
reclassified from
accumulated other
comprehensive loss
into earnings		Amount of gain
reclassified from
accumulated other
comprehensive
loss into earnings
2024202320242023
Foreign currency contracts$(0.8)$1.4 Cost of products sold$0.5 $2.5 
Nine Months Ended September 30 (dollars in millions):
Derivatives in ASC 815 cash flow hedging relationshipsAmount of (loss) gain  recognized in other
comprehensive
loss on derivatives		Location of gain
reclassified from
accumulated other
comprehensive loss
into earnings		Amount of gain 
reclassified from
accumulated other
comprehensive
loss into earnings
2024202320242023
Foreign currency contracts$(0.3)$3.6 Cost of products sold$1.9 $6.7 
The amounts recognized within the consolidated statements of earnings related to the Company's foreign exchange contracts are set forth below.
Three Months Ended September 30 (dollars in millions):
Derivatives not designated as hedging instruments:
Location of expense within the consolidated statements of earnings
20242023
Foreign exchange contractsOther (income) expense - net$(3.6)$1.1 
Nine Months Ended September 30 (dollars in millions):
Derivatives not designated as hedging instruments:
Location of expense within the consolidated statements of earnings
20242023
Foreign exchange contractsOther (income) expense - net$2.1 $1.1