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Derivatives (Tables) | 3 Months Ended
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Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Fair Value of Derivative Instruments | The fair value of derivative instruments on our consolidated balance sheets was as follows:
| Derivative Assets | Derivative Liabilities
| Balance Sheet Location | March 31, 2023 | December 31, 2022 | Balance Sheet Location | March 31, 2023 | December 31, 2022
Derivatives designated as cash flow hedges: |  |  |  |  |  |
Interest rate swaps | Other current assets | $ | 0.7 |  | $ | 0.8 |  | Other current liabilities | $ | — |  | $ | — |
Interest rate swaps | Other assets | — |  | — |  | Other liabilities | 3.0 |  | 1.8 |
Derivatives designated as fair value hedges: |  |  |  |  |  |
Cross-currency swaps | Other current assets | 1.4 |  | 1.4 |  | Other current liabilities | — |  | — |
Cross-currency swaps | Other assets | 0.4 |  | 0.8 |  | Other liabilities | — |  | — |
Derivatives designated as net investment hedges: |  |  |  |  |  |
Cross-currency swaps | Other current assets | 1.2 |  | 1.2 |  | Other current liabilities | — |  | — |
Cross-currency swaps | Other assets | — |  | 0.5 |  | Other liabilities | — |  | — |
Derivatives not designated as hedging instruments: |  |  |  |  |  |
Foreign currency forward contracts | Other current assets | $ | — |  | $ | 0.1 |  | Other current liabilities | $ | 1.1 |  | $ | 0.3 |
Schedule of Effects of Derivatives Designated as Hedging Instruments | The following tables includes the amounts in the consolidated statements of income in which the effects of derivatives designated as hedging instruments are recorded:
| Three Months Ended March 31,
| 2023 |  | 2022
| Total | Amount of Gain on Hedging Activity |  | Total | Amount of Gain on Hedging Activity
Derivatives designated as cash flow hedges: |  |  |  |  |
Interest expense, net | $ | (3.7) |  | $ | 0.1 |  |  | $ | (0.3) |  | $ | 0.7 |
Net foreign currency transaction (loss) gain | (0.1) |  | — |  |  | 0.6 |  | 4.5 |
Derivatives designated as fair value hedges: |  |  |  |  |
Interest expense, net | (3.7) |  | 1.2 |  |  | (0.3) |  | — |
Net foreign currency transaction (loss) gain | (0.1) |  | 1.2 |  |  | 0.6 |  | — |
Derivatives designated as net investment hedges: |  |  |  |  |
Interest expense, net | $ | (3.7) |  | $ | 0.9 |  |  | $ | (0.3) |  | $ | — |
The effect of derivative instruments designated as hedges and derivative instruments not designated as hedges in our consolidated statements of income was as follows:
| Three Months Ended March 31,
| 2023 | 2022
Derivatives designated as cash flow hedges: |  |
Net (loss) gain recognized in other comprehensive income (loss), net of tax(a) | $ | (0.9) |  | $ | 3.8 |
Net gain reclassified from accumulated other comprehensive loss into income, net of tax, effective portion to interest expense, net | 0.1 |  | 0.5 |
Net gain reclassified from accumulated other comprehensive loss into income, net of tax, effective portion to net foreign currency transaction gain | — |  | 3.5 |
Derivatives designated as fair value hedges: |  |
Net gain recognized in other comprehensive income (loss), net of tax(a) | 0.7 |  | — |
Net gain reclassified from accumulated other comprehensive loss into income, net of tax, effective portion to interest expense, net | 0.3 |  | — |
Derivatives designated as net investment hedges: |  |
Net loss recognized in other comprehensive income (loss), net of tax(a) | (0.1) |  | — |
Net gain reclassified from accumulated other comprehensive loss into income, net of tax, effective portion to interest expense, net | 0.2 |  | — |
Derivatives not designated as hedging instruments: |  |
Net gain recognized in income(b) | $ | 0.8 |  | $ | 1.6 |
(a)Net change in the fair value of the effective portion classified in other comprehensive income (loss). (b)Classified in net foreign currency transaction (loss) gain.

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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 location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging 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 4B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 + Details
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