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DERIVATIVE FINANCIAL INSTRUMENTS | 9 Months Ended
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Sep. 30, 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 September 30, 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 | Mar 2025 |  | $ | 292.9 |  |  | $ | 2.6 |  |  | $ | .1 |  |  | $ | 4.9 |  |  | $ | .4 |
Total fair value hedges | Jan 2024 |  | 28.9 |  |  | — |  |  | — |  |  | .9 |  |  | — |
Not designated as hedging instruments | Sep 2024 |  | 135.2 |  |  | .1 |  |  | — |  |  | .7 |  |  | — |
Total derivatives |  |  |  |  | $ | 2.7 |  |  | $ | .1 |  |  | $ | 6.5 |  |  | $ | .4 |
| 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 12) as well as derivative settlements recorded directly to income or expense.
Derivatives |  | Income Statement Caption |  | Amount of (Gain) Loss Recorded in Income Nine Months Ended September 30, |  | Amount of (Gain) Loss Recorded in Income Three Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Designated as hedging instruments |  |  |  |  |  |  |  |  |  |
Interest rate cash flow hedges |  | Interest expense |  | $ | .3 |  |  | $ | 2.4 |  |  | $ | .5 |  |  | $ | .6 |
Currency cash flow hedges |  | Net trade sales |  | 2.7 |  |  | (1.7) |  |  | 1.1 |  |  | .6 |
Currency cash flow hedges |  | Cost of goods sold |  | (2.0) |  |  | (1.9) |  |  | (.7) |  |  | (.8) |
Total cash flow hedges |  |  |  | 1.0 |  |  | (1.2) |  |  | .9 |  |  | .4 |
Fair value hedges |  | Other (income) expense, net |  | 1.4 |  |  | 4.9 |  |  | .8 |  |  | 3.9 |
Not designated as hedging instruments |  | Other (income) expense, net |  | 1.1 |  |  | (2.2) |  |  | (2.4) |  |  | (2.3) |
Total derivative instruments |  |  |  | $ | 3.5 |  |  | $ | 1.5 |  |  | $ | (.7) |  |  | $ | 2.0 |

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