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Derivative Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 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 income (loss) for the quarters and nine months ended September 30, 2024 and September 30, 2023 was as follows:
|  | Quarter Ended September 30, |  |  | Nine Months Ended September 30, |
(In millions) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Unrealized gains (losses) at beginning of period, net of tax |  | $ | - |  |  | $ | 0.4 |  |  | $ | 5.3 |  |  | $ | (10.5 | )
Losses reclassified to net sales |  |  | 0.1 |  |  |  | 1.1 |  |  |  | 1.6 |  |  |  | 5.8 |
Increase (decrease) in fair value |  |  | 10.0 |  |  |  | (9.5 | ) |  |  | 3.2 |  |  |  | (3.3 | )
Unrealized gains (losses) at end of period, net of tax |  | $ | 10.1 |  |  | $ | (8.0 | ) |  | $ | 10.1 |  |  | $ | (8.0 | )
Schedule of Fair Values of Outstanding Financial Instruments | The fair values of outstanding derivative financial instruments as of September 30, 2024 and December 31, 2023 were as follows:
| Prepaid and Other Current Assets | Other Assets | Current Liabilities | Non-Current Liabilities
(In millions) | September 30, 2024 | December 31, 2023 | September 30, 2024 | December 31, 2023 | September 30, 2024 | December 31, 2023 | September 30, 2024 | December 31, 2023
Derivative Products |  |  |  |  |  |  |  |
Foreign currency forward exchange contracts | $10.4 | $4.8 | $3.7 | $5.5 | $0.2 | $3.2 | $- | $-
Undesignated hedges | 0.4 | - | - | - | - | 1.4 | - | -
Commodity swaps | 0.6 | 0.5 | 0.1 | 0.2 | 0.2 | 1.5 | 0.1 | 0.2
Cross currency and interest rate swap | 4.4 | 4.3 | 3.9 | 3.7 | - | - | - | -
Total Derivative Products | $15.8 | $9.6 | $7.7 | $9.4 | $0.4 | $6.1 | $0.1 | $0.2

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- 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 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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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 -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C + Details
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