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Equity | 9 Months Ended
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Sep. 30, 2022
Equity [Abstract] |
Equity | EquityThe 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 |
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. Share Repurchases On July 25, 2022, our Board of Directors authorized the repurchase of up to $500.0 million of our common stock (the "2022 Authorization"), and rescinded the prior outstanding repurchase authorization with respect to the shares that remained unused under the prior authorization. Shares under the 2022 Authorization may be purchased through open market or privately negotiated transactions at the discretion of management based on its evaluation of market prevailing conditions and other factors, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. During the three and nine months ended September 30, 2022, we repurchased $49.3 million and $139.2 million in common stock, representing 697,523 and 2,027,206 shares of our common stock at a weighted average cost per share of $70.75 and $68.68, respectively. At September 30, 2022, $450.7 million remained unused under our 2022 Authorization. During the three and nine months ended September 30, 2021, we repurchased $32.2 million and $100.3 million in common stock, representing 414,501 and 1,298,167 shares of our common stock at a weighted average cost per share of $77.77 and $77.25, respectively.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI https://asc.fasb.org/topic&trid=2208762 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 16 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496180-112644 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 40 -Section 50 -Paragraph 6 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008 + Details
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