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Derivatives and Hedging (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table presents the fair values of the Company’s derivative instruments that were designated and qualified as part of a hedging relationship (in millions):

												Fair Value (1)
Derivatives Designated as Hedging Instruments						Balance Sheet Location						December 31, 2023						December 31, 2022
Assets:
Accrued interest receivable on cross-currency rate swaps						Prepaid expenses and other currents assets						$	0.1					$	0.1
Interest rate swap						Other non-current assets						0.1						—
Total assets												$	0.2					$	0.1
Liabilities:
Cross-currency rate swap						Accrued expenses and other current liabilities						$	10.7					$	—
Cross-currency rate swap						Other non-current liabilities						12.6						12.9
Total liabilities												$	23.3					$	12.9
(1) Refer to Note 18, Fair Value Measurements, for additional information related to the estimated fair value.

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The following table summarizes the notional values and pretax impact of changes in the fair values of instruments designated as net investment hedges (in millions):

			Notional Amount												Gain (Loss) Recognized in AOCL
			As of												Year Ended December 31, 2023						Year Ended December 31, 2022						From October 20, 2021 through December 31, 2021
			December 31, 2023						December 31, 2022
Cross-currency rate swaps			€	238.8					€	238.8					$	(10.4)					$	(12.9)					$	—
Total			€	238.8					€	238.8					$	(10.4)					$	(12.9)					$	—

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- References

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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
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C

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- 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
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B

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