XML 37 R27.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Derivative Financial Instruments (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Change in Fair Value of Foreign Currency Forward Exchange Contracts Under Hedge Designations | The change in fair value of our foreign currency forward exchange contracts under hedge designations recorded net of tax within accumulated other comprehensive loss for the quarters ended March 31, 2024 and March 31, 2023 was as follows:
|  | Quarter Ended March 31, |  |
(In millions) |  | 2024 |  |  | 2023 |  |
Unrealized gains (losses) at beginning of period, net of tax |  | $ | 5.3 |  |  | $ | (10.5 | ) |
Losses reclassified to net sales |  |  | 0.5 |  |  |  | 2.7 |  |
(Decrease) increase in fair value |  |  | (5.3 | ) |  |  | 3.0 |  |
Unrealized gains (losses) at end of period, net of tax |  | $ | 0.5 |  |  | $ | (4.8 | ) |
Schedule of fair value of outstanding derivative financial instruments | The fair value of outstanding derivative financial instruments as of March 31, 2024 and December 31, 2023 were as follows:
|  | Prepaid and Other Current Assets |  | Other Assets |  | Current Liabilities |  | Non-Current Liabilities
(In millions) |  | March 31, 2024 |  | December 31, 2023 |  | March 31, 2024 |  | December 31, 2023 |  | March 31, 2024 |  | December 31, 2023 |  | March 31, 2024 |  | December 31, 2023
Derivative Products |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward exchange contracts |  | $3.3 |  | $4.8 |  | $2.0 |  | $5.5 |  | $3.9 |  | $3.2 |  | $0.7 |  | $-
Undesignated hedges |  | 0.1 |  | - |  | - |  | - |  | - |  | 1.4 |  | - |  | -
Commodity swaps |  | 0.9 |  | 0.5 |  | 0.1 |  | 0.2 |  | 0.6 |  | 1.5 |  | 0.3 |  | 0.2
Cross currency and interest rate swap |  | 5.8 |  | 4.3 |  | 5.6 |  | 3.7 |  | - |  | - |  | - |  | -
Total Derivative Products |  | $10.1 |  | $9.6 |  | $7.7 |  | $9.4 |  | $4.5 |  | $6.1 |  | $1.0 |  | $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 fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: 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 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-11 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 + Details
Name: | us-gaap_ScheduleOfCashFlowHedgesIncludedInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration