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Shareholders' Equity (Tables) | 9 Months Ended
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Sep. 30, 2021
Equity [Abstract] |
Schedule of cash dividends declared per common share | Cash dividends declared and paid per common share for the three and nine months ended September 30, 2021 and 2020, were as follows:
|  | Three months ended September 30, |  | Nine months ended September 30,
|  | 2021 |  | 2020 |  | 2021 |  | 2020
Cash dividends declared and paid per common share |  | $ | 0.63 |  |  | $ | 0.62 |  |  | $ | 1.89 |  |  | $ | 1.86 |
Schedule of reconciliation of weighted average number of shares | A reconciliation of these amounts is as follows (in millions):
| Three months ended September 30, |  | Nine months ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Weighted average number of common shares outstanding | 60.6 |  |  | 61.5 |  |  | 61.1 |  |  | 61.4 |
Director Plan and deferred stock units | 0.2 |  |  | 0.2 |  |  | 0.2 |  |  | 0.2 |
ESOP | 0.2 |  |  | 0.2 |  |  | 0.1 |  |  | 0.2 |
Common shares outstanding—basic | 61.0 |  |  | 61.9 |  |  | 61.4 |  |  | 61.8 |
Dilutive effect of restricted stock units | 0.7 |  |  | 0.5 |  |  | 0.7 |  |  | — |
Dilutive effect of stock option awards | 0.6 |  |  | 0.4 |  |  | 0.8 |  |  | — |
Common and potential common shares outstanding—diluted | 62.3 |  |  | 62.8 |  |  | 62.9 |  |  | 61.8 |
Schedule of changes in accumulated other comprehensive income (loss) balances | Changes in the accumulated other comprehensive loss balance are as follows (in millions):
| Foreign Currency Translation |  | Cash Flow Hedging Derivatives |  | Retirement Plan and Other Activity |  | Accumulated Other Comprehensive Loss
Balance as of December 31, 2020 | $ | (39.1) |  |  | $ | (15.5) |  |  | $ | (3.8) |  |  | $ | (58.4) |
Reclassification to the statement of income | — |  |  | 6.8 |  |  | 0.2 |  |  | 7.0 |
Change in fair value | (21.4) |  |  | (1.1) |  |  | — |  |  | (22.5) |
Balance as of September 30, 2021 | $ | (60.5) |  |  | $ | (9.8) |  |  | $ | (3.6) |  |  | $ | (73.9) |
Schedule of gains and losses, net of tax, reclassified from accumulated other comprehensive income into the income statement for cash flow derivatives designated as hedging instruments | The table below provides the amount of gains and losses, net of tax, reclassified from accumulated other comprehensive loss into the statements of income (loss) for cash flow derivatives designated as hedging instruments and retirement plan activity for the three and nine months ended September 30, 2021 and 2020 (in millions):
Derivatives in Cash Flow Hedging Relationships and Other Activity | Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income |  | Three months ended September 30, |  | Nine months ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Foreign currency contracts | Other (income) expense, net |  | $ | (0.5) |  |  | $ | 1.0 |  |  | $ | (1.7) |  |  | $ | 4.5 |
Foreign currency contracts | Cost of sales |  | 0.2 |  |  | (0.7) |  |  | 1.0 |  |  | (1.4) |
Interest rate contracts | Interest expense |  | (2.0) |  |  | (2.0) |  |  | (6.1) |  |  | (4.1) |
Retirement plan activity | Operating expenses |  | — |  |  | (0.1) |  |  | (0.2) |  |  | (0.2) |
Total |  |  | $ | (2.3) |  |  | $ | (1.8) |  |  | $ | (7.0) |  |  | $ | (1.2) |

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