XML 51 R30.htm IDEA: XBRL DOCUMENT
v3.24.2

Other Comprehensive Loss (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Components of other comprehensive (loss) earnings | The amounts recognized in other comprehensive loss were as follows::
| Three Months Ended
| June 30, 2024 |  | June 30, 2023
(in millions) | Pre-tax |  | Tax |  | Net of tax |  | Pre-tax |  | Tax |  | Net of tax
Foreign currency translation | $ | (3.2) |  |  | $ | — |  |  | $ | (3.2) |  |  | $ | (13.3) |  |  | $ | — |  |  | $ | (13.3) |
Employee benefit plans | 0.2 |  |  | — |  |  | 0.2 |  |  | 0.1 |  |  | 0.1 |  |  | 0.2 |
Changes in fair value of cash flow hedges | (0.9) |  |  | (0.1) |  |  | (1.0) |  |  | (4.0) |  |  | 0.4 |  |  | (3.6) |
Total other comprehensive loss | $ | (3.9) |  |  | $ | (0.1) |  |  | $ | (4.0) |  |  | $ | (17.2) |  |  | $ | 0.5 |  |  | $ | (16.7) |
| Six Months Ended
| June 30, 2024 |  | June 30, 2023
(in millions) | Pre-tax |  | Tax |  | Net of tax |  | Pre-tax |  | Tax |  | Net of tax
Foreign currency translation | $ | (6.6) |  |  | $ | — |  |  | $ | (6.6) |  |  | $ | (9.7) |  |  | $ | — |  |  | $ | (9.7) |
Employee benefit plans | 0.3 |  |  | — |  |  | 0.3 |  |  | 0.3 |  |  | 0.1 |  |  | 0.4 |
Changes in fair value of cash flow hedges | (1.5) |  |  | 0.2 |  |  | (1.3) |  |  | (4.1) |  |  | 0.7 |  |  | (3.4) |
Total other comprehensive loss | $ | (7.8) |  |  | $ | 0.2 |  |  | $ | (7.6) |  |  | $ | (13.5) |  |  | $ | 0.8 |  |  | $ | (12.7) |
Schedule of (Loss) Earnings | The following tables summarize the changes in balances of each component of accumulated other comprehensive loss, net of tax during the six months ended June 30, 2024 and 2023:
(in millions) | Cash flow hedges |  | Employee benefit plans |  | Cumulative foreign currency translation adjustments |  |  |  |  |  | Total
Balance at December 31, 2023 | $ | (0.7) |  |  | $ | (16.2) |  |  | $ | (112.9) |  |  |  |  |  |  | $ | (129.8) |
Other comprehensive (loss) earnings, net of tax | (1.3) |  |  | 0.3 |  |  | (6.6) |  |  |  |  |  |  | (7.6) |
Balance at June 30, 2024 | $ | (2.0) |  |  | $ | (15.9) |  |  | $ | (119.5) |  |  |  |  |  |  | $ | (137.4) |
(in millions) | Cash flow hedges |  | Employee benefit plans |  | Cumulative foreign currency translation adjustments |  |  |  | Total
Balance at December 31, 2022 | $ | 1.0 |  |  | $ | (16.3) |  |  | $ | (106.8) |  |  |  |  | $ | (122.1) |
Other comprehensive (loss) earnings, net of tax | (3.4) |  |  | 0.4 |  |  | (9.7) |  |  |  |  | (12.7) |
Balance at June 30, 2023 | $ | (2.4) |  |  | $ | (15.9) |  |  | $ | (116.5) |  |  |  |  | $ | (134.8) |
The following tables summarize the amounts reclassified from accumulated other comprehensive loss to earnings:
|  | Three Months Ended June 30,
(in millions) | Statement of Earnings Line | 2024 |  | 2023
Pension and post-retirement benefit plans: |  |  |
Amortization or settlement of actuarial losses and prior service costs | Other expense (income), net | $ | 0.2 |  |  | $ | 0.1 |
Tax | Provision for income taxes | — |  |  | 0.1 |
Net of tax |  | $ | 0.2 |  |  | $ | 0.2 |
Cash flow hedges: |  |  |
Net losses reclassified into earnings | Cost of goods sold | $ | 0.4 |  |  | $ | 0.5 |
Tax | Provision for income taxes | (0.1) |  |  | (0.1) |
Net of tax |  | $ | 0.3 |  |  | $ | 0.4 |
|  | Six Months Ended June 30,
(in millions) | Statement of Earnings Line | 2024 |  | 2023
Pension and post-retirement benefit plans: |  |  |
Amortization or settlement of actuarial losses and prior service costs | Other expense (income), net | $ | 0.3 |  |  | $ | 0.3 |
Tax | Provision for income taxes | — |  |  | 0.1 |
Net of tax |  | $ | 0.3 |  |  | $ | 0.4 |
Cash flow hedges: |  |  |
Net losses reclassified into earnings | Cost of goods sold | $ | 1.6 |  |  | $ | 0.6 |
Tax | Provision for income taxes | (0.3) |  |  | (0.1) |
Net of tax |  | $ | 1.3 |  |  | $ | 0.5 |

X
- References No definition available. + Details
Name: | us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-14A Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481674/830-30-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481694/830-30-45-20 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 1 -Section 45 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-1 + Details
Name: | us-gaap_ScheduleOfComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration