XML 55 R45.htm IDEA: XBRL DOCUMENT
v3.23.3

Fair Value Measurements, Equity Investments and Other Financial Instruments (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
Fair Value Disclosures [Abstract] |
Fair Value Hierarchy of Financial Instruments | The fair value, measured on a recurring basis, of our financial instruments, using the fair value hierarchy under U.S. GAAP, are included in the table below.
|  | September 30, 2023
(In millions) |  | Total Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Cash equivalents |  | $ | 33.5 |  |  | $ | 33.5 |  |  | $ | — |  |  | $ | — |
Derivative financial and hedging instruments net liability: |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | (5.0) |  |  | $ | — |  |  | $ | (5.0) |  |  | $ | — |
Cross-currency swaps |  | $ | (2.5) |  |  | $ | — |  |  | $ | (2.5) |  |  | $ | — |
|  | December 31, 2022
(In millions) |  | Total Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Cash equivalents |  | $ | 122.5 |  |  | $ | 122.5 |  |  | $ | — |  |  | $ | — |
Derivative financial and hedging instruments net asset: |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 4.7 |  |  | $ | — |  |  | $ | 4.7 |  |  | $ | — |
Carrying Value of Investments Without Readily Determinable Fair Values | The following carrying value of these investments were included within Other non-current assets in our Condensed Consolidated Balance Sheets as of September 30, 2023 and December 31, 2022:
(In millions) |  | September 30, 2023 |  | December 31, 2022
Carrying value at the beginning of period |  | $ | 13.3 |  |  | $ | 45.8 |
Purchases |  | — |  |  | — |
Impairments or downward adjustments |  | — |  |  | (31.6) |
Upward adjustments |  | — |  |  | — |
Currency translation on investments |  | (0.1) |  |  | (0.9) |
Carrying value at the end of period |  | $ | 13.2 |  |  | $ | 13.3 |
Carrying Amounts and Estimated Fair Values of Debt | The table below shows the carrying amounts and estimated fair values of our debt, excluding our lease liabilities.
|  |  |  | September 30, 2023 |  | December 31, 2022
(In millions) |  | Interest rate |  | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
Term Loan A due March 2027(1) |  |  |  | $ | 1,147.9 |  |  | $ | 1,147.9 |  |  | $ | 506.6 |  |  | $ | 506.6 |
Senior Notes due September 2023(1) |  | 4.500 | % |  | — |  |  | — |  |  | 426.0 |  |  | 427.3 |
Senior Notes due December 2024 |  | 5.125 | % |  | 424.1 |  |  | 418.0 |  |  | 423.5 |  |  | 419.7 |
Senior Notes due September 2025 |  | 5.500 | % |  | 399.0 |  |  | 391.8 |  |  | 398.7 |  |  | 398.6 |
Senior Secured Notes due October 2026 |  | 1.573 | % |  | 596.7 |  |  | 522.3 |  |  | 596.0 |  |  | 521.7 |
Senior Notes due December 2027 |  | 4.000 | % |  | 422.4 |  |  | 379.6 |  |  | 421.9 |  |  | 386.6 |
Senior Notes due February 2028 |  | 6.125 | % |  | 764.2 |  |  | 749.2 |  |  | — |  |  | — |
Senior Notes due April 2029 |  | 5.000 | % |  | 421.6 |  |  | 381.9 |  |  | 421.2 |  |  | 400.2 |
Senior Notes due July 2033 |  | 6.875 | % |  | 446.6 |  |  | 436.4 |  |  | 446.4 |  |  | 448.8 |
Other foreign borrowings(1) |  |  |  | 86.6 |  |  | 86.6 |  |  | 6.6 |  |  | 6.6 |
Other domestic borrowings |  |  |  | 132.5 |  |  | 131.9 |  |  | 7.9 |  |  | 7.9 |
Total debt(2) |  |  |  | $ | 4,841.6 |  |  | $ | 4,645.6 |  |  | $ | 3,654.8 |  |  | $ | 3,524.0 |
(1)Includes borrowings denominated in currencies other than U.S. dollars. (2)The carrying amount and estimated fair value of debt exclude lease liabilities.

X
- Definition Tabular disclosure of investment in equity security without readily determinable fair value. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 321 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479536/321-10-50-3 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 321 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479536/321-10-50-3 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 321 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479536/321-10-50-3 + Details
Name: | us-gaap_EquitySecuritiesWithoutReadilyDeterminableFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2C -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2C Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCarryingValuesAndEstimatedFairValuesOfDebtInstrumentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration