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Financial Instruments and Risk Management (Tables)
3 Months Ended
Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Effect of Cash Flow and Net Investment Hedge Accounting on Accumulated Other Comprehensive Income
In millionsAmount of Gain (Loss) Recognized in AOCIAmount of Gain (Loss) Reclassified from AOCI into Net incomeLocation of Gain (Loss) Reclassified from AOCI in Net income
Three Months Ended March 31,
2023202220232022
Cash flow hedging derivatives
Currency exchange contracts$(0.1)$0.5 $(0.2)$0.2 Net sales
Natural gas contracts(2.9)4.1 0.5 1.3 Cost of sales
Interest rate swap contracts— 3.7 — — Interest expense, net
Total$(3.0)$8.3 $0.3 $1.5 
In millionsAmount of Gain (Loss) Recognized in AOCIAmount of Gain (Loss) Recognized in Income on Derivative
(Amount Excluded from Effectiveness Testing)
Location of Gain or (Loss) Recognized in Income on Derivative
(Amount Excluded from
Effectiveness Testing)
Three Months Ended March 31,
2023202220232022
Net investment hedging derivative
Currency exchange contracts (1)
$— $1.7 $— $— Interest expense, net
Total$— $1.7 $— $— 
__________
(1) Reclassifications from AOCI to Net Income were zero for all periods presented. Gains and losses would be reclassified from AOCI to Other (income) expense, net.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value The following information is presented for derivative assets and liabilities that are recorded in the condensed consolidated balance sheets at fair value measured on a recurring basis. There were no transfers of assets and liabilities that are recorded at fair value between Level 1 and Level 2 during the periods reported. There were no nonrecurring fair value measurements related to derivative assets and liabilities on the condensed consolidated balance sheets as of March 31, 2023, or December 31, 2022.
March 31, 2023
In millions
Level 1(1)
Level 2(2)
Level 3(3)
Total
Assets:
Currency exchange contracts (4)
$— $0.9 $— $0.9 
Total assets$— $0.9 $— $0.9 
Liabilities:
Currency exchange contracts(5)
$— $1.6 $— $1.6 
Natural gas contracts (5)
— 2.8 — 2.8 
Total liabilities$— $4.4 $— $4.4 
December 31, 2022
In millions
Level 1(1)
Level 2(2)
Level 3(3)
Total
Liabilities:
Natural gas contracts (5)
$— $1.6 $— $1.6 
Currency exchange contracts (5)
— 0.5 — 0.5 
Total liabilities$— $2.1 $— $2.1 
__________
(1) Quoted prices in active markets for identical assets.
(2) Quoted prices for similar assets and liabilities in active markets.
(3) Significant unobservable inputs.
(4) Included within "Other current assets" on the condensed consolidated balance sheet.
(5) Included within "Accrued expenses" on the condensed consolidated balance sheet.