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Derivatives and Hedging (Tables) | 12 Months Ended
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Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Summary of Fair Value of Derivative Instruments by Contract Type and Location of Asset and/or Liability on Consolidated Condensed Balance Sheets | The following table summarizes the fair value of the Company’s derivative instruments as well as the location of the asset and/or liability on the consolidated balance sheets as of December 31, 2022 and December 31, 2021 (in millions):
|  |  | Fair Value of Asset Derivatives
|  |  | December 31,
| Balance Sheet Location |  | 2022 |  | 2021
Derivatives designated as cash flow hedging instruments: |  |  |  |  |
Foreign currency forward contracts | Other current assets |  | $ | 0.1 |  |  | $ | 0.1 |
Interest rate swap contracts | Other current assets |  | 4.4 |  |  | — |
Interest rate swap contracts | Other assets, net |  | 2.8 |  |  | — |
Total |  | $ | 7.3 |  |  | $ | 0.1 |
Derivatives not designated as hedging instruments: |  |  |  |  |
Foreign currency forward contracts | Other current assets |  | 0.1 |  |  | 0.2 |
Total asset position |  | $ | 7.4 |  |  | $ | 0.3 |
|  |  | Fair Value of Liability Derivatives
|  |  | December 31,
| Balance Sheet Location |  | 2022 |  | 2021
Derivatives designated as cash flow hedging instruments: |  |  |  |  |
Foreign currency forward contracts | Accounts payable and accrued expenses |  | $ | 2.6 |  |  | $ | — |
Interest rate swap contracts | Accounts payable and accrued expenses |  | — |  |  | 4.1 |
Interest rate swap contracts | Other long-term liabilities |  | — |  |  | 4.6 |
|  |  | 2.6 |  |  | 8.7 |
Derivatives not designated as hedging instruments: |  |  |  |  |
Foreign currency forward contracts | Accounts payable and accrued expenses |  | 2.8 |  |  | 0.2 |
Total liability position |  | $ | 5.4 |  |  | $ | 8.9 |
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) | The following tables summarize the net effect of all cash flow hedges on the consolidated financial statements for the years ended December 31, 2022, 2021, and 2020 (in millions):
|  | Gain (Loss) Recognized in Other Comprehensive Income
|  | Year Ended December 31,
Derivatives designated as cash flow hedging instruments |  | 2022 |  | 2021 |  | 2020
Foreign currency forward contracts |  | $ | 2.0 |  |  | $ | 2.4 |  |  | $ | 0.8 |
Cross-currency debt swap contracts |  | — |  |  | — |  |  | 15.1 |
Interest rate swap agreements |  | 14.2 |  |  | 4.4 |  |  | (12.9) |
|  | $ | 16.2 |  |  | $ | 6.8 |  |  | $ | 3.0 |
|  | Gain (Loss) Reclassified from Other Comprehensive Income into Earnings
|  | Year Ended December 31,
Derivatives designated as cash flow hedging instruments |  | 2022 |  | 2021 |  | 2020
Foreign currency forward contracts |  | $ | 4.8 |  |  | $ | 1.7 |  |  | $ | 1.1 |
Cross-currency debt swap contracts |  | — |  |  | — |  |  | 18.5 |
Interest rate swap agreements |  | (1.6) |  |  | (4.8) |  |  | (3.9) |
|  | $ | 3.2 |  |  | $ | (3.1) |  |  | $ | 15.7 |
Location of Gains in Consolidated Condensed Statements of Operations that were Recognized and Derivative Contract Type | The following table summarizes the location of net gains and losses in the consolidated statements of operations that were recognized during the years ended December 31, 2022, 2021 and 2020, in addition to the derivative contract type (in millions):
|  |  |  | Amount of Net Gain Recognized in Income on Derivative Instruments
Derivatives not designated as hedging instruments |  | Location of Net Gain Recognized in Income on Derivative Instruments |  | Years Ended December 31,
|  | 2022 |  | 2021 |  | 2020
Foreign currency forward contracts |  | Other income, net |  | $ | 44.5 |  |  | $ | 14.4 |  |  | $ | 2.2 |

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- Definition Tabular disclosure for cash flow hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of the presentation of foreign exchange contracts on the statement of financial position, including the fair value amounts and location of such amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 + Details
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