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Foreign Currency Translation | 3 Months Ended
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Mar. 31, 2022
Foreign Currency [Abstract] |
Foreign Currency Translation | 15. Foreign Currency Translation The accumulated other comprehensive loss account in stockholders’ equity of $360.6 and $394.5 as of March 31, 2022 and December 31, 2021, respectively, primarily includes cumulative foreign currency net losses of $380.1 and $394.5, respectively, from translating the financial statements of the Company’s international subsidiaries and the cumulative changes in fair value of the Company’s interest rate swap agreements that are designated as hedges. As of March 31, 2022, all foreign countries where the Company has operations are non-highly inflationary, other than Argentina. In non-highly inflationary countries, the local currency is the same as the functional currency and any fluctuation in the currency results in a cumulative foreign currency translation adjustment recorded to accumulated other comprehensive loss. The Company deemed Argentina to be highly inflationary beginning July 1, 2018. A highly inflationary economy is defined as an economy with a cumulative inflation rate of 100 percent or more over a three-year period. If a country’s economy is classified as highly inflationary, the financial statements of the foreign entity operating in that country must be remeasured to the functional currency of the reporting entity. The financial information of the Company’s Argentina subsidiaries was remeasured in U.S. dollars in accordance with ASC Topic 830, Foreign Currency Matters, effective July 1, 2018. Below is a summary of the impact of translating the March 31, 2022 and March 31, 2021 financial statements of the Company’s international subsidiaries:
|  |  |  |  |  |  |  | Other Comprehensive Income (Loss) for |
|  | Exchange Rate as of |  |  | Three Months Ended |
Country |  | March 31, 2022 |  |  | December 31, 2021 |  |  | March 31, 2022 |  | March 31, 2021 |
Brazil |  |  | 4.8 |  |  |  | 5.6 |  |  | $ | 8.0 |  | $ | (6.9 | )
Chile |  |  | 788.6 |  |  |  | 852.0 |  |  |  | 4.8 |  |  | (1.0 | )
Peru |  |  | 3.8 |  |  |  | 4.0 |  |  |  | 1.6 |  |  | (1.2 | )
All other |  |  |  |  |  |  |  |  | — |  |  | (0.4 | )
|  |  |  |  |  |  |  | $ | 14.4 |  | $ | (9.5 | )
As noted above, beginning July 1, 2018, Argentina was deemed highly inflationary. A foreign currency exchange gain of $0.5 and $0.2 was recorded for the three months ended March 31, 2022 and 2021, respectively, as a result of translating Argentina's financial results to U.S. dollars.

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- Definition The entire disclosure for foreign currency transactions and translation. This may include description of foreign currency transactions, foreign currency gains and losses, explanation of change in cumulative translation adjustment, description of effect of subsequent foreign currency exchange rate change, cumulative translation adjustment movement, foreign currency translation adjustment by component movement, translation adjustment for net investment hedge movement, adjustment for long-term intercompany transactions, schedule of long-term intercompany balances and any other foreign currency transactions and translation related items. + References Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=124440516&loc=d3e30885-110895 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -URI http://asc.fasb.org/topic&trid=2175825 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6897108&loc=SL6897125-166521 + Details
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