XML 71 R43.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Financial Instruments (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Fair Values Of Derivative Instruments | As of December 31, 2024 and December 31, 2023, the fair values of the Company’s derivative instruments were:
(in millions) |  | Fair Value
Asset Derivatives |  | December 31, 2024 |  | December 31, 2023
Derivatives Designated as Cash Flow Hedges |  |  |  |
Foreign exchange contracts |  | $ | 13.2 |  |  | $ | 4.1 |
Commodity contracts |  | 0.8 |  |  | 0.9 |
Total |  | $ | 14.0 |  |  | $ | 5.0 |
Derivatives Designated as Net Investment Hedges |  |  |  |
Cross-currency swaps |  | $ | 5.1 |  |  | $ | — |
Other Hedging Activity |  |  |  |
Foreign exchange contracts |  | $ | 3.0 |  |  | $ | 0.2 |
Liability Derivatives |  |  |  |
Derivatives Designated as Cash Flow Hedges |  |  |  |
Foreign exchange contracts |  | $ | 5.8 |  |  | $ | 6.1 |
Commodity contracts |  | 0.4 |  |  | 0.8 |
Total |  | $ | 6.2 |  |  | $ | 6.9 |
Derivatives Designated as Net Investment Hedges |  |  |  |
Cross-currency swaps |  | $ | — |  |  | $ | 5.0 |
Other Hedging Activity |  |  |  |
Foreign exchange contracts |  | $ | 3.2 |  |  | $ | 1.8 |
Effect of Derivative Instruments on the Consolidated Statement of Operations | The amount of gain (loss) on derivatives recognized in Accumulated other comprehensive income (loss) was as follows:
(in millions) |  |
Derivatives Designated as Cash Flow Hedging Instruments |  | December 31, 2024 |  | December 31, 2023
Foreign exchange contracts |  | $ | 13.8 |  |  | $ | 3.2 |
Commodity contracts |  | (0.3) |  |  | (2.1) |
Total |  | $ | 13.5 |  |  | $ | 1.1 |
Derivatives Designated as Net Investment Hedging Instruments |  |  |  |
Cross-currency swaps |  | $ | 11.8 |  |  | $ | (5.0) |
The amount of gain (loss) reclassified from Accumulated other comprehensive income (loss) into earnings was as follows:
(in millions) |  |  |  |  |  |  |  |
Derivatives Designated as Cash Flow Hedging Instruments |  | Location of Gain (Loss) |  |  |  |  |  | December 31, 2024 |  | December 31, 2023
Interest-rate contracts |  | Interest expense |  |  |  |  |  | $ | 0.1 |  |  | $ | (0.1) |
Foreign exchange contracts |  | Cost of sales |  |  |  |  |  | 2.9 |  |  | 16.8 |
Commodity contracts |  | Cost of sales |  |  |  |  |  | (1.0) |  |  | (3.1) |
Total |  |  |  |  |  |  |  | $ | 2.0 |  |  | $ | 13.6 |
The amount of gain (loss) on derivatives recognized directly into earnings was as follows:
(in millions) |  |  |  |  |  |  |  |
Derivatives Designated as Fair Value Hedging Instruments |  | Location of Gain (Loss) |  |  |  |  |  | December 31, 2024 |  | December 31, 2023
Interest-rate contracts |  | Interest expense |  |  |  |  |  | $ | — |  |  | $ | 0.4 |
Other Hedging Activity |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | Cost of sales |  |  |  |  |  | $ | 7.7 |  |  | $ | (2.8) |
Foreign exchange contracts |  | Other income (expense), net |  |  |  |  |  | (6.1) |  |  | 0.6 |
Total |  |  |  |  |  |  |  | 1.6 |  |  | (2.2) |

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 location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration