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Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Activity Related to Cash Flow Hedges Recorded in Accumulated Other Comprehensive Loss | The following activity related to cash flow hedges was recorded in Accumulated other comprehensive loss as of December 31:
| Accumulated Unrealized Derivative
| Gains (Losses)
| 2020 |  | 2019
(in millions) | Pretax |  | After-tax |  | Pretax |  | After-tax
Beginning balance | $ | 1.1 |  |  | $ | (5.5) |  |  | $ | 6.2 |  |  | $ | (1.9) |
Net change in value of outstanding hedges | (6.4) |  |  | (4.7) |  |  | 5.1 |  |  | 3.6 |
Net amount recognized into earnings | (6.8) |  |  | (5.0) |  |  | (10.2) |  |  | (7.2) |
Ending balance | $ | (12.1) |  |  | $ | (15.2) |  |  | $ | 1.1 |  |  | $ | (5.5) |
Fair Values Of Derivative Instruments | As of December 31, 2020 and December 31, 2019, the fair values of the Company’s derivative instruments were:
(in millions) |  |  |  |  |  |  |  |
|  | Derivative Assets |  | Derivative Liabilities
Instrument |  | Balance Sheet Location |  | Fair Value |  | Balance Sheet Location |  | Fair Value
|  |  |  | 2020 |  | 2019 |  |  |  | 2020 |  | 2019
Derivatives Designated as Cash Flow Hedges |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | Prepaid expenses and other |  | $ | 1.3 |  |  | $ | 4.1 |  |  | Accrued expenses |  | $ | 11.3 |  |  | $ | 2.3 |
Commodity contracts |  | Prepaid expenses and other |  | 0.9 |  |  | — |  |  | Accrued expenses |  | — |  |  | — |
Total |  |  |  | $ | 2.2 |  |  | $ | 4.1 |  |  |  |  | $ | 11.3 |  |  | $ | 2.3 |
Other Hedging Activity |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | Prepaid expenses and other |  | $ | 0.0 |  |  | $ | 0.1 |  |  | Accrued expenses |  | $ | 0.7 |  |  | $ | 0.9 |
Effect of Derivative Instruments on the Consolidated Statement of Operations | The effect of derivative instruments on the Consolidated Statements of Operations for the years ended December 31, 2020 and December 31, 2019 was:
(in millions) |  |  |  |  |  |  |  |  |  |
Derivatives Designated as Cash Flow Hedging Instruments |  | Amount of Gain (Loss) on Derivatives Recognized in Accumulated Other Comprehensive Loss (Effective Portion) |  | Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings (Effective Portion) |  | Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings (Effective Portion)
|  | 2020 |  | 2019 |  |  |  | 2020 |  | 2019
Interest rate contracts |  | $ | — |  |  | $ | — |  |  | Interest expense |  | $ | (0.6) |  |  | $ | (0.6) |
Foreign exchange contracts |  | (7.3) |  |  | 5.1 |  |  | Cost of sales |  | 7.4 |  |  | 10.8 |
Commodity contracts |  | 0.9 |  |  | — |  |  | Cost of sales |  | 0.0 |  |  | — |
Total |  | $ | (6.4) |  |  | $ | 5.1 |  |  |  |  | $ | 6.8 |  |  | $ | 10.2 |
Derivatives Designated as Fair Value Hedging Instruments |  | Location of Gain (Loss) on Derivatives Recognized in Earnings |  | Amount of Gain (Loss) on Derivatives Recognized in Earnings
|  |  |  | 2020 |  | 2019
Interest rate contracts |  | Interest expense |  | $ | 0.7 |  |  | $ | 0.1 |
Other Hedging Activity |  | Location of Gain (Loss) on Derivatives Recognized in Earnings |  | Amount of Gain (Loss) on Derivatives Recognized in Earnings
|  |  |  | 2020 |  | 2019
Foreign exchange contracts |  | Cost of sales |  | $ | (0.8) |  |  | $ | 2.4 |
Foreign exchange contracts |  | Other expense, net |  | 1.0 |  |  | (1.3) |
Total |  |  |  | $ | 0.2 |  |  | $ | 1.1 |

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