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Equity (Tables) | 9 Months Ended
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Sep. 30, 2022
Equity [Abstract] |
Schedule of Stockholders' Equity | The tables below provide a roll forward of equity.
| Common Stock |  |  |  |  |  |  |  |  |  |  |  |
In millions, except per share data in thousands | Shares |  | Amount |  | Additional paid in capital |  | Retained earnings |  | Accumulated other comprehensive income (loss) |  | Treasury stock |  |  |  | Total Equity
Balance at December 31, 2021 | 43,102 |  |  | $ | 0.4 |  |  | $ | 136.3 |  |  | $ | 796.1 |  |  | $ | 13.1 |  |  | $ | (272.1) |  |  |  |  | $ | 673.8 |
Net income (loss) | — |  |  | — |  |  | — |  |  | 60.8 |  |  | — |  |  | — |  |  |  |  | 60.8 |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | — |  |  | (10.1) |  |  | — |  |  |  |  | (10.1) |
Common stock issued | 42 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |
Exercise of stock options, net | 36 |  |  | — |  |  | 0.4 |  |  | — |  |  | — |  |  | — |  |  |  |  | 0.4 |
Tax payments related to vested restricted stock units | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1.8) |  |  |  |  | (1.8) |
Share repurchase program | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (40.4) |  |  |  |  | (40.4) |
Share-based compensation plans | — |  |  | — |  |  | 2.9 |  |  | — |  |  | — |  |  | 0.5 |  |  |  |  | 3.4 |
Balance at March 31, 2022 | 43,180 |  |  | $ | 0.4 |  |  | $ | 139.6 |  |  | $ | 856.9 |  |  | $ | 3.0 |  |  | $ | (313.8) |  |  |  |  | $ | 686.1 |
Net income (loss) | — |  |  | — |  |  | — |  |  | 59.8 |  |  | — |  |  | — |  |  |  |  | 59.8 |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | — |  |  | (46.7) |  |  | — |  |  |  |  | (46.7) |
Common stock issued | 18 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |
Exercise of stock options, net | 2 |  |  | — |  |  | 0.1 |  |  | — |  |  | — |  |  | — |  |  |  |  | 0.1 |
Tax payments related to vested restricted stock units | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (0.2) |  |  |  |  | (0.2) |
Share repurchase program | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (49.5) |  |  |  |  | (49.5) |
Noncontrolling interest distributions | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |
Share-based compensation plans | — |  |  | — |  |  | 3.3 |  |  | — |  |  | — |  |  | 1.4 |  |  |  |  | 4.7 |
Balance at June 30, 2022 | 43,200 |  |  | $ | 0.4 |  |  | $ | 143.0 |  |  | $ | 916.7 |  |  | $ | (43.7) |  |  | $ | (362.1) |  |  |  |  | $ | 654.3 |
Net income (loss) | — |  |  | — |  |  | — |  |  | 75.4 |  |  | — |  |  | — |  |  |  |  | 75.4 |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | — |  |  | (51.6) |  |  | — |  |  |  |  | (51.6) |
Common stock issued | 8 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (0.2) |  |  |  |  | (0.2) |
Exercise of stock options, net | 5 |  |  | — |  |  | 0.3 |  |  | — |  |  | — |  |  | — |  |  |  |  | 0.3 |
Tax payments related to vested restricted stock units | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |
Share repurchase program | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (49.3) |  |  |  |  | (49.3) |
Share-based compensation plans | — |  |  | — |  |  | 4.2 |  |  | — |  |  | — |  |  | 0.8 |  |  |  |  | 5.0 |
Balance at September 30, 2022 | 43,213 |  |  | $ | 0.4 |  |  | $ | 147.5 |  |  | $ | 992.1 |  |  | $ | (95.3) |  |  | $ | (410.8) |  |  |  |  | $ | 633.9 |
| Common Stock |  |  |  |  |  |  |  |  |  |  |  |
In millions, except per share data in thousands | Shares |  | Amount |  | Additional paid in capital |  | Retained earnings |  | Accumulated other comprehensive income (loss) |  | Treasury stock |  |  |  | Total Equity
Balance at December 31, 2020 | 42,913 |  |  | $ | 0.4 |  |  | $ | 121.3 |  |  | $ | 678.0 |  |  | $ | 4.7 |  |  | $ | (162.3) |  |  |  |  | $ | 642.1 |
Net income (loss) | — |  |  | — |  |  | — |  |  | 48.7 |  |  | — |  |  | — |  |  |  |  | 48.7 |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | — |  |  | 8.5 |  |  | — |  |  |  |  | 8.5 |
Common stock issued | 97 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |
Exercise of stock options, net | 24 |  |  | — |  |  | 0.9 |  |  | — |  |  | — |  |  | — |  |  |  |  | 0.9 |
Tax payments related to vested restricted stock units | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (2.3) |  |  |  |  | (2.3) |
Share repurchase program | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (39.4) |  |  |  |  | (39.4) |
Share-based compensation plans | — |  |  | — |  |  | 2.6 |  |  | — |  |  | — |  |  | — |  |  |  |  | 2.6 |
Balance at March 31, 2021 | 43,034 |  |  | $ | 0.4 |  |  | $ | 124.8 |  |  | $ | 726.7 |  |  | $ | 13.2 |  |  | $ | (204.0) |  |  |  |  | $ | 661.1 |
Net income (loss) | — |  |  | — |  |  | — |  |  | 44.3 |  |  | — |  |  | — |  |  |  |  | 44.3 |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | — |  |  | 5.4 |  |  | — |  |  |  |  | 5.4 |
Common stock issued | 19 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |
Exercise of stock options, net | 32 |  |  | — |  |  | 1.5 |  |  | — |  |  | — |  |  | — |  |  |  |  | 1.5 |
Tax payments related to vested restricted stock units | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |
Share repurchase program | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (28.7) |  |  |  |  | (28.7) |
Share-based compensation plans | — |  |  | — |  |  | 4.0 |  |  | — |  |  | — |  |  | 0.9 |  |  |  |  | 4.9 |
Balance at June 30, 2021 | 43,085 |  |  | $ | 0.4 |  |  | $ | 130.3 |  |  | $ | 771.0 |  |  | $ | 18.6 |  |  | $ | (231.8) |  |  |  |  | $ | 688.5 |
Net income (loss) | — |  |  | — |  |  | — |  |  | (4.2) |  |  | — |  |  | — |  |  |  |  | (4.2) |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | — |  |  | (11.1) |  |  | — |  |  |  |  | (11.1) |
Common stock issued | 5 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |
Exercise of stock options, net | 2 |  |  | — |  |  | 0.1 |  |  | — |  |  | — |  |  | — |  |  |  |  | 0.1 |
Tax payments related to vested restricted stock units | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (0.1) |  |  |  |  | (0.1) |
Share repurchase program | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (32.2) |  |  |  |  | (32.2) |
Share-based compensation plans | — |  |  | — |  |  | 3.0 |  |  | — |  |  | — |  |  | 0.5 |  |  |  |  | 3.5 |
Balance at September 30, 2021 | 43,092 |  |  | $ | 0.4 |  |  | $ | 133.4 |  |  | $ | 766.8 |  |  | $ | 7.5 |  |  | $ | (263.6) |  |  |  |  | $ | 644.5 |
Schedule of Accumulated Other Comprehensive Income (Loss) |
Accumulated other comprehensive income (loss) |  |  |  |  |  |  |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
In millions | 2022 |  | 2021 |  | 2022 |  | 2021
Foreign currency translation |  |  |  |  |  |  |
Beginning balance | $ | (43.9) |  |  | $ | 27.8 |  |  | $ | 18.4 |  |  | $ | 16.4 |
Net gains (losses) on foreign currency translation | (55.3) |  |  | (16.7) |  |  | (124.9) |  |  | (8.5) |
Gains (losses) on net investment hedges | 4.4 |  |  | 3.8 |  |  | 13.9 |  |  | 8.0 |
Less: tax provision (benefit) | 1.0 |  |  | 0.9 |  |  | 3.2 |  |  | 1.9 |
Net gains (losses) on net investment hedges | 3.4 |  |  | 2.9 |  |  | 10.7 |  |  | 6.1 |
Other comprehensive income (loss), net of tax | (51.9) |  |  | (13.8) |  |  | (114.2) |  |  | (2.4) |
Ending balance | $ | (95.8) |  |  | $ | 14.0 |  |  | $ | (95.8) |  |  | $ | 14.0 |
Derivative instruments |  |  |  |  |  |  |
Beginning balance | $ | 3.3 |  |  | $ | (4.5) |  |  | $ | (2.1) |  |  | $ | (6.9) |
Gains (losses) on derivative instruments | 3.5 |  |  | 3.6 |  |  | 14.9 |  |  | 6.9 |
Less: tax provision (benefit) | 0.8 |  |  | 0.8 |  |  | 3.5 |  |  | 1.6 |
Net gains (losses) on derivative instruments | 2.7 |  |  | 2.8 |  |  | 11.4 |  |  | 5.3 |
(Gains) losses reclassified to net income | (3.1) |  |  | (0.2) |  |  | (7.4) |  |  | (0.3) |
Less: tax (provision) benefit | (0.7) |  |  | (0.1) |  |  | (1.7) |  |  | (0.1) |
Net (gains) losses reclassified to net income | (2.4) |  |  | (0.1) |  |  | (5.7) |  |  | (0.2) |
Other comprehensive income (loss), net of tax | 0.3 |  |  | 2.7 |  |  | 5.7 |  |  | 5.1 |
Ending balance | $ | 3.6 |  |  | $ | (1.8) |  |  | $ | 3.6 |  |  | $ | (1.8) |
Pension and other postretirement benefits |  |  |  |  |  |  |
Beginning balance | $ | (3.1) |  |  | $ | (4.7) |  |  | $ | (3.2) |  |  | $ | (4.8) |
Unrealized actuarial gains (losses) and prior service (costs) credits | — |  |  | — |  |  | — |  |  | — |
Less: tax provision (benefit) | — |  |  | — |  |  | — |  |  | — |
Net actuarial gains (losses) and prior service (costs) credits | — |  |  | — |  |  | — |  |  | — |
Amortization of actuarial and other (gains) losses, prior service cost (credits), and settlement and curtailment (income) charge reclassified to net income | — |  |  | — |  |  | 0.1 |  |  | 0.1 |
Less: tax (provision) benefit | — |  |  | — |  |  | — |  |  | — |
Net actuarial and other (gains) losses, amortization of prior service cost (credits), and settlement and curtailment (income) charge reclassified to net income | — |  |  | — |  |  | 0.1 |  |  | 0.1 |
Other comprehensive income (loss), net of tax | — |  |  | — |  |  | 0.1 |  |  | 0.1 |
Ending balance | $ | (3.1) |  |  | $ | (4.7) |  |  | $ | (3.1) |  |  | $ | (4.7) |
Total AOCI ending balance at September 30 | $ | (95.3) |  |  | $ | 7.5 |  |  | $ | (95.3) |  |  | $ | 7.5 |
Reclassifications of accumulated other comprehensive income (loss)
| Three Months Ended September 30, |  | Nine Months Ended September 30,
In millions | 2022 |  | 2021 |  | 2022 |  | 2021
Derivative instruments |  |  |  |  |  |  |
Currency exchange contracts (1) | $ | 0.8 |  |  | $ | 0.2 |  |  | $ | 1.6 |  |  | $ | 0.2 |
Natural gas contracts (2) | 2.3 |  |  | — |  |  | 4.1 |  |  | 0.1 |
Interest rate swap contracts (3) | — |  |  | — |  |  | 1.7 |  |  | — |
Total before tax | 3.1 |  |  | 0.2 |  |  | 7.4 |  |  | 0.3 |
(Provision) benefit for income taxes | (0.7) |  |  | (0.1) |  |  | (1.7) |  |  | (0.1) |
Amount included in net income (loss) | $ | 2.4 |  |  | $ | 0.1 |  |  | $ | 5.7 |  |  | $ | 0.2 |
Pension and other post retirement benefits |  |  |  |  |  |  |
Amortization of prior service costs (2) | $ | — |  |  | $ | — |  |  | $ | 0.1 |  |  | $ | 0.1 |
Total before tax | — |  |  | — |  |  | 0.1 |  |  | 0.1 |
(Provision) benefit for income taxes | — |  |  | — |  |  | — |  |  | — |
Amount included in net income (loss) | $ | — |  |  | $ | — |  |  | $ | 0.1 |  |  | $ | 0.1 |
______________ (1) Included within "Net sales" on the condensed consolidated statement of operations. (2) Included within "Cost of sales" on the condensed consolidated statement of operations. (3) Included within "Interest expense, net" on the condensed consolidated statement of operations.

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