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Derivatives (Tables)
 12 Months Ended
Dec. 31, 2024
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 as of December 31 consisted of the following:
Derivative AssetsDerivative Liabilities
Balance Sheet LocationDecember 31, 2024December 31, 2023Balance Sheet LocationDecember 31, 2024December 31, 2023
Derivatives designated as cash flow hedges:
Interest rate swapsOther current assets0.1 0.8 Other current liabilities— — 
Interest rate swapsOther assets— — Other liabilities0.2 1.9 
Derivatives designated as fair value hedges:
Cross-currency swapsOther current assets1.5 1.3 Other current liabilities— — 
Cross-currency swapsOther assets0.5 — Other liabilities— 3.3 
Derivatives designated as net investment hedges:
Cross-currency swapsOther current assets1.2 1.2 Other current liabilities— — 
Cross-currency swapsOther assets0.2 — Other liabilities— 3.4 
Derivatives not designated as hedging instruments:
Foreign currency forward contracts(a)
Other current assets0.8 — Other current liabilities— 1.6 
(a)Contracts that mature within the next 12 months are included in other current assets and other current liabilities for asset derivatives and liabilities derivatives, respectively, on our consolidated balance sheets. Contracts with maturities greater than 12 months are included in other assets and other liabilities for asset derivatives and liability derivatives, respectively, in our consolidated balance sheets. Amounts included in our consolidated balance sheets are recorded net where a right of offset exists with the same derivative counterparty.
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 derivative instruments are recorded and the effects of derivative instruments activity on these line items for the years ended December 31, 2024 and December 31, 2023:
20242023
TotalGain (Loss) on
Hedge Activity		Total Gain (Loss) on
Hedge Activity
Derivatives designated as cash flow hedges:
Interest expense, net(9.1)1.0 (13.5)0.9 
Net foreign currency transaction gain0.1 — 0.3 — 
Derivatives designated as fair value hedges:
Interest expense, net(9.1)1.1 (13.5)1.1 
Net foreign currency transaction gain (loss)0.1 3.9 0.3 (1.9)
Derivatives designated as net investment hedges:
Interest expense, net(9.1)1.0 (13.5)1.0 
The effect of derivative instruments designated as hedges and derivative instruments not designated as hedges in our consolidated statements of income for the three years ended December 31 were as follows:
202420232022
Derivatives designated as cash flow hedges:
Net gain recognized in other comprehensive (loss) income, net of tax(a)
$1.8 $0.6 $3.1 
Net gain reclassified from accumulated other comprehensive loss into income, net of tax, effective portion to interest expense, net1.0 2.0 0.5 
Net gain (loss) reclassified from accumulated other comprehensive loss into income, net of tax, effective portion to net foreign currency transaction losses— — 3.6 
Derivatives designated as fair value hedges:
Net gain recognized in other comprehensive (loss) income, net of tax(a)
0.2 — 2.7 
Net gain reclassified from accumulated other comprehensive loss into income, net of tax, effective portion to interest expense, net1.1 — 0.9 
Derivatives designated as net investment hedges:
Net gain recognized in other comprehensive (loss) income, net of tax(a)
3.8 2.0 4.2 
Net gain reclassified from accumulated other comprehensive loss into income, net of tax, ineffective portion to interest expense, net1.0 1.0 0.7 
Derivatives not designated as hedging instruments:
Net gain recognized in income(b)
$6.1 $1.7 $1.0 
(a)Net change in the fair value of the effective portion classified in other comprehensive (loss) income.
(b)Classified in net foreign currency transaction gain (loss).