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Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2025

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, 2025 and March 31, 2024 was as follows:

		Quarter Ended March 31,
(In millions)		2025				2024
Unrealized (losses) gains at beginning of period, net of tax		$	(7.9	)		$	5.3
Losses reclassified to net sales			1.1				0.5
Increase (decrease) increase in fair value			8.9				(5.3	)
Unrealized gains at end of period, net of tax		$	2.1			$	0.5

Schedule of fair value of outstanding derivative financial instruments

The fair value of outstanding derivative financial instruments as of March 31, 2025 and December 31, 2024 were as follows:

		Prepaid and Other Current Assets				Other Assets				Current Liabilities				Non-Current Liabilities
(In millions)		March 31, 2025		December 31, 2024		March 31, 2025		December 31, 2024		March 31, 2025		December 31, 2024		March 31, 2025		December 31, 2024
Derivative Products
Foreign currency forward exchange contracts		$4.0		$1.5		$1.8		$0.1		$1.8		$6.8		$1.0		$5.2
Undesignated hedges		0.1		-		-		-		-		0.1		-		-
Commodity swaps		-		-		-		-		1.0		1.1		0.2		0.3
Cross currency and interest rate swap		6.8		13.9		-		-		-		-		-		-
Total Derivative Products		$10.9		$15.4		$1.8		$0.1		$2.8		$8.0		$1.2		$5.5

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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

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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

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