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DERIVATIVE FINANCIAL INSTRUMENTS

3 Months Ended

Mar. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE FINANCIAL INSTRUMENTS

DERIVATIVE FINANCIAL INSTRUMENTS

The following table presents assets and liabilities representing the fair value of our most significant derivative financial instruments. The fair values of the derivatives reflect the change in the market value of the derivative from the date of the trade execution and do not consider the offsetting underlying hedged item.

			Expiring at various dates through:						Total USD Equivalent Notional Amount						As of March 31, 2023
Derivatives															Assets												Liabilities
															Other Current Assets						Sundry						Other Current Liabilities						Other Long-Term Liabilities
Designated as hedging instruments
Total cash flow hedges-currency hedges			Sep 2024						$	268.6					$	2.8					$	.4					$	2.1					$	.1
Total fair value hedges			Jul 2023						65.4						.1						—						1.8						—
Not designated as hedging instruments			Mar 2024						89.5						.2						—						.2						—
Total derivatives															$	3.1					$	.4					$	4.1					$	.1

			Expiring at various dates through:						Total USD Equivalent Notional Amount						As of December 31, 2022
Derivatives															Assets												Liabilities
															Other Current Assets						Sundry						Other Current Liabilities						Other Long-Term Liabilities
Designated as hedging instruments
Total cash flow hedges-currency hedges			Jun 2024						$	263.4					$	1.9					$	.5					$	4.3					$	.4
Total fair value hedges			Apr 2023						65.5						.3						—						1.0						—
Not designated as hedging instruments			Dec 2023						86.0						.2						—						.2						—
Total derivatives															$	2.4					$	.5					$	5.5					$	.4

The following table sets forth the pretax (gains) losses for our hedging activities for the periods presented. This schedule includes reclassifications from accumulated other comprehensive income (see Note 10) as well as derivative settlements recorded directly to income or expense.

Derivatives						Income Statement Caption						Amount of (Gain) Loss Recorded in Income Three Months Ended March 31,
												2023						2022
Designated as hedging instruments
Interest rate cash flow hedges						Interest expense						$	(.1)					$	.9
Currency cash flow hedges						Net trade sales						.7						(1.8)
Currency cash flow hedges						Cost of goods sold						(.7)						(.4)
Currency cash flow hedges						Other (income) expense, net						—						.1
Total cash flow hedges												(.1)						(1.2)
Fair value hedges						Other (income) expense, net						2.1						(.5)
Not designated as hedging instruments						Other (income) expense, net						—						.1
Total derivative instruments												$	2.0					$	(1.6)

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- References

No definition available.

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- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-URI https://asc.fasb.org/topic&trid=2229140

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 50
-Paragraph 5
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126731327&loc=d3e90205-114008

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