DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair value of derivative instruments designated as hedging instruments that are reported in the Consolidated Balance Sheet

The following table provides the location and fair value amounts of derivative instruments designated and not designated as hedging instruments that are reported in the Consolidated Balance Sheet (in millions):


		December 31, 2023				December 31, 2022
Instrument (1)	Balance Sheet Account	Derivatives designated as hedges		Derivatives not designated as hedges		Derivatives designated as hedges		Derivatives not designated as hedges
Foreign exchange contracts	Other current assets	$	0.1	$	1.7	$	—	$	1.7
Commodity swaps	Other current assets	2.4		—		0.3		—



Foreign exchange contracts	Other current liabilities	—		(0.8)		(0.3)		(2.0)
Cross currency swaps - net investment hedge	Other current liabilities	(5.1)		—		(1.7)		—

Commodity swaps	Other current liabilities	(0.2)		—		(1.5)		—
Cross currency swaps - net investment hedge	Other non-current liabilities	(5.1)		—		(3.0)		—
Commodity swaps	Other non-current liabilities	—		—		(0.4)		—

Net derivative asset (liability)		$	(7.9)	$	0.9	$	(6.6)	$	(0.3)

Schedule of derivative instruments that are designated as hedges in the Consolidated Statement of Income and Accumulated other comprehensive income (loss) ("OCI")

The following tables provide the effect of derivative instruments that are designated as hedges in AOCI (in millions):


	Gain (Loss) Recognized on Derivatives in OCI, net of tax							Gain (Loss) Reclassified from AOCI into Income (Loss)
	Year Ended December 31,							Year Ended December 31,
Instrument	2023		2022		2021		Income Statement Account	2023		2022		2021
Foreign exchange contracts	$	0.4	$	(0.1)	$	(0.1)	Cost of goods sold	$	(0.2)	$	0.1	$	0.1
Commodity swaps	5.2		(12.1)		$	2.4	Cost of goods sold	(1.6)		8.1		15.6

Cross currency swaps - net investment hedges	(4.6)		1.8		4.8		Selling, general and administrative expenses	—		—		—
Interest rate caps	—		—		2.9		Interest expense	—		—		(1.2)
Total	$	1.0	$	(10.4)	$	10.0	Total	$	(1.8)	$	8.2	$	14.5

The following tables provide the effect of derivative instruments that are designated as hedges in the Consolidated Statement of Income (Loss) (in millions):


	Classification and amount of Gain (Loss) Recognized in Income (Loss)
	Cost of goods sold						Interest expense
	Year Ended December 31,
	2023		2022		2021		2023		2022		2021
Income Statement Accounts in which effects of cash flow hedges are recorded	$	(3,974.9)	$	(3,546.5)	$	(3,129.4)	$	(63.3)	$	(49.1)	$	(51.5)
Gain (loss) reclassified from AOCI into Income (loss):
Foreign exchange contracts	(0.2)		0.1		0.1		—		—		—
Commodity swaps	(1.6)		8.1		15.6		—		—		—

Interest rate caps	—		—		—		—		—		(1.2)
Amount excluded from effectiveness testing recognized in Income (loss) based on amortization approach:
Cross currency swaps - net investment hedge	—		—		—		0.8		0.7		0.6
Total	$	(1.8)	$	8.2	$	15.7	$	0.8	$	0.7	$	(0.6)

Schedule of derivative instruments that are not designated as hedges in the Consolidated Statement of Income and OCI

The following table provides the effect of non-designated derivatives in the Consolidated Statement of Income (Loss) (in millions):


		Gain (Loss) Recognized in Income (Loss)
		Year Ended December 31,
Instrument	Income Statement Account	2023		2022		2021
Foreign exchange contracts	Cost of goods sold	$	(7.6)	$	(2.2)	$	(0.5)
Foreign exchange contracts	Other income (expense) – net	(1.8)		0.1		0.5

Total		$	(9.4)	$	(2.1)	$	—