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Derivatives and Hedging (Tables) | 12 Months Ended
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Dec. 31, 2023
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 our derivative instruments as well as the location of the asset and/or liability on the consolidated balance sheets as of December 31, 2023 and December 31, 2022 (in millions):
|  |  | Fair Value of Asset Derivatives
|  |  | December 31,
| Balance Sheet Location |  | 2023 |  | 2022
Derivatives designated as cash flow hedging instruments: |  |  |  |  |
Foreign currency forward contracts | Other current assets |  | $ | — |  |  | $ | 0.1 |
Interest rate swap contracts | Other current assets |  | 5.2 |  |  | 4.4 |
Interest rate swap contracts | Other assets, net |  | — |  |  | 2.8 |
Total |  | $ | 5.2 |  |  | $ | 7.3 |
Derivatives not designated as hedging instruments: |  |  |  |  |
Foreign currency forward contracts | Other current assets |  | 0.2 |  |  | 0.1 |
Total asset position |  | $ | 5.4 |  |  | $ | 7.4 |
|  |  | Fair Value of Liability Derivatives
|  |  | December 31,
| Balance Sheet Location |  | 2023 |  | 2022
Derivatives designated as cash flow hedging instruments: |  |  |  |  |
Foreign currency forward contracts | Accounts payable and accrued expenses |  | $ | — |  |  | $ | 2.6 |
Interest rate swap contracts | Other long-term liabilities |  | 2.6 |  |  | — |
|  |  | 2.6 |  |  | 2.6 |
Derivatives not designated as hedging instruments: |  |  |  |  |
Foreign currency forward contracts | Accounts payable and accrued expenses |  | 4.5 |  |  | 2.8 |
Total liability position |  | $ | 7.1 |  |  | $ | 5.4 |
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 periods presented (in millions):
|  | Gain (Loss) Recognized in Other Comprehensive Income
|  | Year Ended December 31,
Derivatives designated as cash flow hedging instruments |  | 2023 |  | 2022 |  | 2021
Foreign currency forward contracts |  | $ | 8.6 |  |  | $ | 2.0 |  |  | $ | 2.4 |
Interest rate swap contracts |  | 6.9 |  |  | 14.2 |  |  | 4.4 |
Total |  | $ | 15.5 |  |  | $ | 16.2 |  |  | $ | 6.8 |
|  | Gain (Loss) Reclassified from Other Comprehensive Income into Earnings
|  | Year Ended December 31,
Derivatives designated as cash flow hedging instruments |  | 2023 |  | 2022 |  | 2021
Foreign currency forward contracts |  | $ | 5.9 |  |  | $ | 4.8 |  |  | $ | 1.7 |
Interest rate swap contracts |  | 8.2 |  |  | (1.6) |  |  | (4.8) |
Total |  | $ | 14.1 |  |  | $ | 3.2 |  |  | $ | (3.1) |
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 for each type of our derivative contracts recognized in the consolidated statements of operations for the periods presented (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,
|  | 2023 |  | 2022 |  | 2021
Foreign currency forward contracts |  | Other income, net |  | $ | 19.6 |  |  | $ | 44.5 |  |  | $ | 14.4 |

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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 -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C + 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 -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A + 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 -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B + Details
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