XML 54 R37.htm IDEA: XBRL DOCUMENT v3.22.0.1
Derivative Instruments and Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block] The following table summarizes the after-tax impact that changes in the fair value of derivatives designated as cash flow hedges had on accumulated other comprehensive loss and net income during 2021, 2020 and 2019 (in millions):
Recognized in Net Income
Gain (Loss) Recognized in Accumulated
Other Comprehensive Loss		Classification of Gain (Loss)Gain (Loss) Reclassified from Accumulated
Other Comprehensive Loss into Income		Total Amount of the Line Item in the Consolidated Statements of Operations Containing Hedge Gains (Losses)
2021
Foreign currency contracts$(7.4)Cost of goods sold$(10.2)$8,566.0 
Commodity contracts(1)
12.5 Cost of goods sold13.2 $8,566.0 
Total$5.1 $3.0 
2020
Foreign currency contracts$4.6 Cost of goods sold$6.3 $7,092.2 
Commodity contracts(1)
0.5 Cost of goods sold— $7,092.2 
Total$5.1 $6.3 
2019
Foreign currency contracts$(2.6)Cost of goods sold$0.1 $7,057.1 
    
(1) The outstanding contracts as of December 31, 2021 range in maturity through July 2022.
Summary Of Accumulated Other Comprehensive Loss Related To Derivatives The following table summarizes the activity in accumulated other comprehensive loss related to the derivatives held by the Company during the years ended December 31, 2021, 2020 and 2019 (in millions):
Before-Tax
Amount		Income
Tax		After-Tax
Amount
Accumulated derivative net gains as of December 31, 2018$1.6 $0.2 $1.4 
Net changes in fair value of derivatives(3.0)(0.4)(2.6)
Net gains reclassified from accumulated other comprehensive loss into income(0.1)— (0.1)
Accumulated derivative net losses as of December 31, 2019$(1.5)$(0.2)$(1.3)
Net changes in fair value of derivatives4.9 (0.2)5.1 
Net gains reclassified from accumulated other comprehensive loss into income(6.4)(0.1)(6.3)
Accumulated derivative net losses as of December 31, 2020$(3.0)$(0.5)$(2.5)
Net changes in fair value of derivatives8.3 3.2 5.1 
Net gains reclassified from accumulated other comprehensive loss into income(5.8)(2.8)(3.0)
Accumulated derivative net losses as of December 31, 2021(1)
$(0.5)$(0.1)$(0.4)
(1) As of December 31, 2021, approximately $0.2 million of derivative realized net losses and approximately $1.5 million of derivative realized net gains, before taxes, remain in accumulated other comprehensive loss related to foreign currency contracts and commodity contracts, respectively, associated with inventory that had not yet been sold.
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] The following table summarizes the notional values of the instrument designated as a net investment hedge (in millions):
Notional Amount as of
December 31, 2021December 31, 2020
Cross currency swap contract$300.0 $300.0 
Schedule of Derivative Instruments [Table Text Block] The following table summarizes the after-tax impact of changes in the fair value of the instrument designated as a net investment hedge (in millions):
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss for the Years Ended
December 31, 2021December 31, 2020December 31, 2019
Foreign currency denominated debt$— $1.7 $2.5 
Cross currency swap contract11.0 (25.5)9.3 
Derivatives Not Designated as Hedging Instruments [Table Text Block] The following table summarizes the impact that changes in the fair value of derivatives not designated as hedging instruments had on net income (in millions):
For the Years Ended
Classification of
Gain (Loss)		December 31, 2021December 31, 2020December 31, 2019
Foreign currency contractsOther expense, net$54.8 $3.7 $20.4 
Fair Value Of Derivative Instruments The table below sets forth the fair value of derivative instruments as of December 31, 2021 (in millions):
Asset Derivatives as of
December 31, 2021		Liability Derivatives as of
December 31, 2021
Balance Sheet
Location		Fair
Value		Balance Sheet
Location		Fair
Value
Derivative instruments designated as hedging instruments:
Foreign currency contractsOther current assets$— Other current liabilities$— 
Commodity contractsOther current assets0.2 Other current liabilities2.0 
Cross currency swap contractOther noncurrent assets12.5 Other noncurrent liabilities— 
Derivative instruments not designated as hedging instruments:
Foreign currency contracts (1)
Other current assets15.1 Other current liabilities5.1 
Total derivative instruments$27.8 $7.1 
(1) The outstanding contracts as of December 31, 2021 range in maturity through October 2022.
    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
Location		Fair
Value		Balance Sheet
Location		Fair
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 liabilities— 
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