XML 64 R48.htm IDEA: XBRL DOCUMENT v3.25.0.1
Derivatives and Hedging (Tables)
 12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule 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 the periods presented below (in millions):
Fair Value of
Asset Derivatives
December 31,
Balance Sheet Location20242023
Derivatives designated as cash flow hedging instruments:
Foreign currency forward contractsOther current assets$0.1 $— 
Interest rate swap contractsOther current assets3.0 5.2 
Interest rate swap contractsOther assets, net4.8 — 
Total$7.9 $5.2 
Derivatives not designated as hedging instruments:
Foreign currency forward contractsOther current assets5.6 0.2 
Total asset position$13.5 $5.4 
Fair Value of
Liability Derivatives
December 31,
Balance Sheet Location20242023
Derivatives designated as cash flow hedging instruments:
Foreign currency forward contractsAccounts payable and accrued expenses$0.8 $— 
Interest rate swap contractsOther long-term liabilities— 2.6 
0.8 2.6 
Derivatives not designated as hedging instruments:
Foreign currency forward contractsAccounts payable and accrued expenses0.2 4.5 
Total liability position$1.0 $7.1 
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 Recognized in Other Comprehensive Income
Year Ended December 31,
Derivatives designated as cash flow hedging instruments202420232022
Foreign currency forward contracts$4.9 $8.6 $2.0 
Interest rate swap contracts12.6 6.9 14.2 
Total$17.5 $15.5 $16.2 
Gain (Loss) Reclassified from Other Comprehensive Income into Earnings
Year Ended December 31,
Derivatives designated as cash flow hedging instruments202420232022
Foreign currency forward contracts$5.9 $5.9 $4.8 
Interest rate swap contracts10.3 8.2 (1.6)
Total$16.2 $14.1 $3.2 
Schedule of 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 instrumentsLocation of Net Gain Recognized in Income on Derivative InstrumentsYears Ended December 31,
202420232022
Foreign currency forward contractsOther income, net$31.9 $19.6 $44.5