XML 41 R31.htm IDEA: XBRL DOCUMENT
v3.21.2

Financial Instruments (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract] |
Fair Values of Derivative Instruments | The fair values of derivative instruments on the consolidated balance sheets as of September 30, 2021 and December 31, 2020 were as follows:
|  |  |  | Fair Value |
(In millions) |  | Location |  | September 30, 2021 |  |  | December 31, 2020 |
Assets: |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | Other current assets |  | $ | 3.2 |  |  | $ | 3.7 |
Commodity contracts |  | Other current assets |  |  | 0.2 |  |  |  | 1.9 |
Net investment hedges |  | Other current assets |  |  | 0.1 |  |  |  | — |
|  | Total assets |  | $ | 3.5 |  |  | $ | 5.6 |
Liabilities: |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | Other current liabilities |  | $ | 1.3 |  |  | $ | 6.5 |
|  | Total liabilities |  | $ | 1.3 |  |  | $ | 6.5 |
Effects of Derivative Financial Instruments on Consolidated Statements of Income | The effects of derivative financial instruments on the statements of comprehensive income for the nine months ended September 30, 2021 and 2020 were as follows:
(In millions) |  | Classification and Amount of Gain (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships |
|  | Nine Months Ended September 30, 2021 |
|  | Cost of products sold |  |  | Interest expense |  |  | Other expense, net |
Total amounts per Consolidated Statements of Comprehensive Income |  | $ | 3,637.2 |  |  | $ | 63.2 |  |  | $ | 0.7 |
The effects of fair value and cash flow hedging: |  |  |  |  |  |  |  |  |  |  |  |
Gain (loss) on fair value hedging relationships |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts: |  |  |  |  |  |  |  |  |  |  |  |
Hedged items |  |  | — |  |  |  | — |  |  |  | (2.1 | )
Derivative designated as hedging instruments |  |  | — |  |  |  | — |  |  |  | (0.6 | )
Gain (loss) on cash flow hedging relationships |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts: |  |  |  |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income |  |  | 0.2 |  |  |  | — |  |  |  | — |
Commodity contracts: |  |  |  |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income |  |  | 0.9 |  |  |  | — |  |  |  | — |
Interest rate contracts: |  |  |  |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income |  |  | — |  |  |  | 0.5 |  |  |  | — |
(In millions) |  | Classification and Amount of Gain (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships |
|  | Nine Months Ended September 30, 2020 |
|  | Cost of products sold |  |  | Interest expense |  |  | Other income, net |
Total amounts per Consolidated Statements of Comprehensive Income |  | $ | 2,873.9 |  |  | $ | 64.4 |  |  | $ | 13.4 |
The effects of fair value and cash flow hedging: |  |  |  |  |  |  |  |  |  |  |  |
Gain (loss) on fair value hedging relationships |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts: |  |  |  |  |  |  |  |  |  |  |  |
Hedged items |  |  | — |  |  |  | — |  |  |  | (5.3 | )
Derivative designated as hedging instruments |  |  | — |  |  |  | — |  |  |  | 6.9 |
Gain (loss) on cash flow hedging relationships |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts: |  |  |  |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income |  |  | (2.1 | ) |  |  | — |  |  |  | — |
Commodity contracts: |  |  |  |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income |  |  | (0.2 | ) |  |  | — |  |  |  | — |
Interest rate contracts: |  |  |  |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income |  |  | — |  |  |  | 0.5 |  |  |  | — |
The effects of derivative financial instruments on the statements of comprehensive income for the three months ended September 30, 2021 and 2020 were as follows:
(In millions) |  | Classification and Amount of Gain (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships |
|  | Three Months Ended September 30, 2021 |
|  | Cost of products sold |  |  | Interest expense |  |  | Other income, net |
Total amounts per Consolidated Statements of Comprehensive Income |  | $ | 1,280.0 |  |  | $ | 20.6 |  |  | $ | 1.3 |
The effects of fair value and cash flow hedging: |  |  |  |  |  |  |  |  |  |  |  |
Gain (loss) on fair value hedging relationships |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts: |  |  |  |  |  |  |  |  |  |  |  |
Hedged items |  |  | — |  |  |  | — |  |  |  | (3.8 | )
Derivative designated as hedging instruments |  |  | — |  |  |  | — |  |  |  | 3.1 |
Gain (loss) on cash flow hedging relationships |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts: |  |  |  |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income |  |  | 0.9 |  |  |  | — |  |  |  | — |
Commodity contracts: |  |  |  |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income |  |  | — |  |  |  | — |  |  |  | — |
Interest rate contracts: |  |  |  |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income |  |  | — |  |  |  | 0.2 |  |  |  | — |
(In millions) |  | Classification and Amount of Gain (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships |
|  | Three Months Ended September 30, 2020 |
|  | Cost of products sold |  |  | Interest expense |  |  | Other income, net |
Total amounts per Consolidated Statements of Comprehensive Income |  | $ | 1,071.5 |  |  | $ | 20.1 |  |  | $ | 2.1 |
The effects of fair value and cash flow hedging: |  |  |  |  |  |  |  |  |  |  |  |
Gain (loss) on fair value hedging relationships |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts: |  |  |  |  |  |  |  |  |  |  |  |
Hedged items |  |  | — |  |  |  | — |  |  |  | 3.5 |
Derivative designated as hedging instruments |  |  | — |  |  |  | — |  |  |  | (3.1 | )
Gain (loss) on cash flow hedging relationships |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts: |  |  |  |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income |  |  | (1.4 | ) |  |  | — |  |  |  | — |
Commodity contracts: |  |  |  |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income |  |  | 0.2 |  |  |  | — |  |  |  | — |
Interest rate contracts: |  |  |  |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income |  |  | — |  |  |  | 0.2 |  |  |  | — |

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period. + 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=125515794&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsEffectOnOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging 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 4B -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration