XML 35 R28.htm IDEA: XBRL DOCUMENT v3.24.3

Derivative Financial Instruments (Tables)

9 Months Ended

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

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 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
-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

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