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Derivatives (Tables) | 9 Months Ended
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Sep. 30, 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 |  | September 30, 2023 |  | December 31, 2022 |  | Balance Sheet Location |  | September 30, 2023 |  | December 31, 2022
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | Other current assets |  | $ | 1.5 |  |  | $ | 0.8 |  |  | Other current liabilities |  | $ | — |  |  | $ | — |
Interest rate swaps | Other assets |  | 0.2 |  |  | — |  |  | Other liabilities |  | — |  |  | 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 |  | 0.2 |  |  | 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 |  | 0.1 |  |  | — |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts | Other current assets |  | $ | 1.0 |  |  | $ | 0.1 |  |  | Other current liabilities |  | $ | 0.1 |  |  | $ | 0.3 |
Schedule of Effects of Derivatives Designated as Hedging Instruments | The following tables include the amounts in the consolidated statements of income in which the effects of derivatives designated as hedging instruments are recorded:
| Three Months Ended September 30,
| 2023 |  | 2022
| Total |  | Gain (Loss) on Hedging |  | Total |  | Gain (Loss) on Hedging
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |
Interest expense, net | $ | (3.3) |  |  | $ | 0.3 |  |  | $ | (2.2) |  |  | $ | — |
Net foreign currency transaction gain (loss) | (0.4) |  |  | — |  |  | — |  |  | — |
Derivatives designated as fair value hedges: |  |  |  |  |  |  |
Interest expense, net | (3.3) |  |  | 0.3 |  |  | (2.2) |  |  | 0.4 |
Net foreign currency transaction gain (loss) | (0.4) |  |  | 2.0 |  |  | — |  |  | 5.6 |
Derivatives designated as net investment hedges: |  |  |  |  |  |  |
Interest expense, net | $ | (3.3) |  |  | $ | 0.2 |  |  | $ | (2.2) |  |  | $ | 0.3 |
| Nine Months Ended September 30,
| 2023 |  | 2022
| Total |  | Gain (Loss) on Hedging |  | Total |  | Gain (Loss) on Hedging
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |
Interest expense, net | $ | (11.0) |  |  | $ | 0.6 |  |  | $ | (3.7) |  |  | $ | 0.7 |
Net foreign currency transaction gain (loss) | 0.5 |  |  | — |  |  | (0.4) |  |  | 4.7 |
Derivatives designated as fair value hedges: |  |  |  |  |  |  |
Interest expense, net | (11.0) |  |  | 1.7 |  |  | (3.7) |  |  | 0.8 |
Net foreign currency transaction gain (loss) | 0.5 |  |  | 2.8 |  |  | (0.4) |  |  | 9.9 |
Derivatives designated as net investment hedges: |  |  |  |  |  |  |
Interest expense, net | $ | (11.0) |  |  | $ | 1.4 |  |  | $ | (3.7) |  |  | $ | 0.6 |
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 September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |
Net gain recognized in other comprehensive income, net of tax(a) | $ | 1.2 |  |  | $ | — |  |  | $ | 2.6 |  |  | $ | 3.8 |
Net gain reclassified from accumulated other comprehensive loss into income, net of tax, effective portion to interest expense, net | 0.3 |  |  | — |  |  | 0.6 |  |  | 0.5 |
Net gain reclassified from accumulated other comprehensive loss into income, net of tax, effective portion to net foreign currency transaction gain (loss) | — |  |  | — |  |  | — |  |  | 3.6 |
Derivatives designated as fair value hedges: |  |  |  |  |  |  |
Net (loss) gain recognized in other comprehensive income (loss), net of tax(a) | (0.5) |  |  | 0.2 |  |  | (0.5) |  |  | 1.4 |
Net gain reclassified from accumulated other comprehensive loss into income, net of tax, effective portion to interest expense, net | 0.2 |  |  | 0.3 |  |  | 0.8 |  |  | 0.6 |
Net gain reclassified from accumulated other comprehensive loss into income, net of tax, effective portion to net foreign currency transaction gain (loss) | — |  |  | — |  |  | — |  |  | — |
Derivatives designated as net investment hedges: |  |  |  |  |  |  |
Net (loss) gain recognized in other comprehensive income (loss), net of tax(a) | 1.3 |  |  | 3.9 |  |  | 0.2 |  |  | 7.8 |
Net gain reclassified from accumulated other comprehensive loss into income, net of tax, effective portion to interest expense, net | 0.2 |  |  | 0.3 |  |  | 0.7 |  |  | 0.5 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Net gain recognized in income(b) | $ | 0.1 |  |  | $ | 4.0 |  |  | $ | 1.0 |  |  | $ | 6.6 |
(a)Net change in the fair value of the effective portion classified in other comprehensive income (loss). (b)Classified in net foreign currency transaction gain (loss).

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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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