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Shareholders' Equity (Tables) | 9 Months Ended
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Sep. 30, 2023
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, 2023 and 2022 were as follows:
|  | Three months ended September 30, |  | Nine months ended September 30,
|  | 2023 |  | 2022 |  | 2023 |  | 2022
Cash dividends declared and paid per common share |  | $ | 0.65 |  |  | $ | 0.64 |  |  | $ | 1.95 |  |  | $ | 1.92 |
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,
| 2023 |  | 2022 |  | 2023 |  | 2022
Weighted average number of common shares outstanding | 56.6 |  |  | 58.8 |  |  | 56.8 |  |  | 59.4 |
Director Plan and deferred stock units | 0.2 |  |  | 0.2 |  |  | 0.2 |  |  | 0.2 |
ESOP | 0.2 |  |  | 0.2 |  |  | 0.2 |  |  | 0.2 |
Common shares outstanding—basic | 57.0 |  |  | 59.2 |  |  | 57.2 |  |  | 59.8 |
Dilutive effect of restricted stock units | 0.4 |  |  | 0.4 |  |  | 0.4 |  |  | 0.4 |
Dilutive effect of stock option awards | 0.4 |  |  | 0.4 |  |  | 0.3 |  |  | 0.4 |
Common and potential common shares outstanding—diluted | 57.8 |  |  | 60.0 |  |  | 57.9 |  |  | 60.6 |
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 Activity |  | Accumulated Other Comprehensive Loss
Balance as of December 31, 2022 | $ | (94.8) |  |  | $ | 10.5 |  |  | $ | (3.2) |  |  | $ | (87.5) |
Reclassification to the statement of income | — |  |  | (25.2) |  |  | 0.2 |  |  | (25.0) |
Change in fair value | 3.5 |  |  | 28.7 |  |  | — |  |  | 32.2 |
Balance as of September 30, 2023 | $ | (91.3) |  |  | $ | 14.0 |  |  | $ | (3.0) |  |  | $ | (80.3) |

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