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Financial Instruments and Risk Management (Tables)
12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Effect of Cash Flow and Net Investment Hedge Accounting on Accumulated Other Comprehensive Income
Effect of Cash Flow and Net Investment Hedge Accounting on AOCI
In millionsAmount of Gain (Loss) Recognized in AOCIAmount of Gain (Loss) Reclassified from AOCI into Net incomeLocation of Gain (Loss) Reclassified from AOCI into Net income
Years Ended December 31,
202420232022202420232022
Cash flow hedging derivatives
Currency exchange contracts$0.2 $(0.1)$0.9 $0.1 $(0.7)$2.0 Net sales
Natural gas contracts(0.4)(4.1)4.4 (2.5)(3.2)6.5 Cost of sales
Interest rate swap contracts0.6 — 5.8 — — 1.7 Interest income
Total$0.4 $(4.2)$11.1 $(2.4)$(3.9)$10.2 
Amount 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)
Years Ended December 31,
202420232022202420232022
Net investment hedging derivative
Currency exchange contracts (1)
$— $— $13.9 $— $— $1.1 Interest income
Total$— $— $13.9 $— $— $1.1 
_______________
(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
December 31, 2024
In millions
Level 1 (1)
Level 2 (2)
Level 3 (3)
Total
Assets:
Natural gas contracts (4)
$— $0.4 $— $0.4 
Currency exchange contracts (4)
— 0.2 — 0.2 
Interest rate swap contracts (5)
— 0.6 — 0.6 
Total assets$— $1.2 $— $1.2 
Liabilities:
Natural gas contracts (6)
$— $0.1 $— $0.1 
Currency exchange contracts (6)
— 0.1 — 0.1 
Total liabilities$— $0.2 $— $0.2 
December 31, 2023
In millions
Level 1 (1)
Level 2 (2)
Level 3 (3)
Total
Assets:
Currency exchange contracts (4)
$— $0.5 $— $0.5 
Total assets$— $0.5 $— $0.5 
Liabilities:
Natural gas contracts (6)
$— $0.9 $— $0.9 
Currency exchange contracts (6)
— 0.5 — 0.5 
Total liabilities$— $1.4 $— $1.4 
_______________
(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 "Prepaid and other current assets" on the consolidated balance sheets.
(5) Included within "Other assets" on the consolidated balance sheets.
(6) Included within "Accrued expenses" on the consolidated balance sheets.