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Fair Value of Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2021
Fair Value Disclosures [Abstract]  
Fair Value of Derivative Instruments The table below sets forth the fair value of derivative instruments as of June 30, 2021 (in millions):
Asset Derivatives as of
June 30, 2021
Liability Derivatives as of
June 30, 2021
Balance Sheet LocationFair ValueBalance Sheet LocationFair Value
Derivative instruments designated as hedging instruments:
Foreign currency contractsOther current assets$2.4 Other current liabilities$6.8 
Commodity contractsOther current assets11.5 Other current liabilities— 
Cross currency swap contractOther noncurrent assets1.2 Other noncurrent liabilities— 
Derivative instruments not designated as hedging instruments:
Foreign currency contractsOther current assets16.0 Other current liabilities6.0 
Total derivative instruments$31.1 $12.8 

    The table below sets forth the fair value of derivative instruments as of December 31, 2020 (in millions):
Asset Derivatives as of
December 31, 2020
Liability Derivatives as of
December 31, 2020
Balance Sheet LocationFair ValueBalance Sheet LocationFair Value
Derivative instruments designated as hedging instruments:
Foreign currency contractsOther current assets$1.0 Other current liabilities$4.5 
Commodity contractsOther current assets0.5 Other current assets— 
Cross currency swap contractOther noncurrent assets1.5 Other noncurrent liabilities— 
Derivative instruments not designated as hedging instruments:
Foreign currency contractsOther current assets12.3 Other current liabilities22.2 
Total derivative instruments$15.3 $26.7 
Assets and liabilities measured at fair value on a recurring basis as of June 30, 2021 and December 31, 2020 are summarized below (in millions):
As of June 30, 2021
Level 1Level 2Level 3Total
Derivative assets$— $31.1 $— $31.1 
Derivative liabilities— 12.8 — 12.8 
As of December 31, 2020
Level 1Level 2Level 3Total
Derivative assets$— $15.3 $— $15.3 
Derivative liabilities— 26.7 — 26.7