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Shareholders' Equity (Tables) | 3 Months Ended
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Mar. 31, 2022
Equity [Abstract] |
Schedule of cash dividends declared per common share | Cash dividends declared and paid per common share for the three months ended March 31, 2022 and 2021, were as follows:
|  |  |  | Three months ended March 31,
|  |  |  |  |  | 2022 |  | 2021
Cash dividends declared and paid per common share |  |  |  |  |  | $ | 0.64 |  |  | $ | 0.63 |
Schedule of reconciliation of weighted average number of shares | A reconciliation of these amounts is as follows (in millions):
|  |  | Three months ended March 31,
|  |  |  |  | 2022 |  | 2021
Weighted average number of common shares outstanding |  |  |  |  | 59.9 |  |  | 61.6 |
Director Plan and deferred stock units |  |  |  |  | 0.2 |  |  | 0.3 |
ESOP |  |  |  |  | 0.2 |  |  | 0.1 |
Common shares outstanding—basic |  |  |  |  | 60.3 |  |  | 62.0 |
Dilutive effect of restricted stock units |  |  |  |  | 0.5 |  |  | 0.6 |
Dilutive effect of stock option awards |  |  |  |  | 0.4 |  |  | 0.8 |
Common and potential common shares outstanding—diluted |  |  |  |  | 61.2 |  |  | 63.4 |
Schedule of changes in accumulated other comprehensive income (loss) balances | Changes in the accumulated other comprehensive loss balance were 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, 2021 | $ | (69.5) |  |  | $ | (4.4) |  |  | $ | (3.5) |  |  | $ | (77.4) |
Reclassification to the statement of income | — |  |  | 0.7 |  |  | 0.1 |  |  | 0.8 |
Change in fair value | (0.8) |  |  | 7.6 |  |  | — |  |  | 6.8 |
Balance as of March 31, 2022 | $ | (70.3) |  |  | $ | 3.9 |  |  | $ | (3.4) |  |  | $ | (69.8) |
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 for cash flow derivatives designated as hedging instruments and retirement plan activity for the three months ended March 31, 2022 and 2021 (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 March 31,
|  |  |  |  | 2022 |  | 2021
Foreign currency contracts | Other (income) expense, net |  |  |  |  |  | $ | 0.9 |  |  | $ | (0.7) |
Foreign currency contracts | Cost of sales |  |  |  |  |  | 0.3 |  |  | 0.6 |
Interest rate contracts | Interest expense |  |  |  |  |  | (1.9) |  |  | (2.0) |
Retirement plan activity | Operating expenses |  |  |  |  |  | (0.1) |  |  | (0.1) |
Total |  |  |  |  |  |  | $ | (0.8) |  |  | $ | (2.2) |

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