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Derivative Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Financial Instruments At Fair Value | 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 December 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 |  | Jun 2025 |  | $ | 298.2 |  |  | $ | 5.3 |  |  | $ | .5 |  |  | $ | 2.4 |  |  | $ | .2 |
Total fair value hedges |  | Mar 2024 |  | 21.7 |  |  | .3 |  |  | — |  |  | — |  |  | — |
Not designated as hedging instruments |  | Dec 2024 |  | 87.9 |  |  | .1 |  |  | — |  |  | .9 |  |  | — |
Total derivatives |  |  |  |  |  | $ | 5.7 |  |  | $ | .5 |  |  | $ | 3.3 |  |  | $ | .2 |
|  | 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 | 1.0 |  |  | — |
Not designated as hedging instruments |  | Dec 2023 |  | 86.0 |  |  | .2 |  |  | — |  |  | .2 |  |  | — |
Total derivatives |  |  |  |  |  | $ | 2.4 |  |  | $ | .5 |  |  | $ | 5.5 |  |  | $ | .4 |
Schedule of Loss (Gain) Of Hedging Activities Recorded In Income | The following table sets forth the pretax (gains) losses for our hedging activities for the years presented. This schedule includes reclassifications from accumulated other comprehensive income as well as derivative settlements recorded directly to income or expense.
|  | Income Statement Caption |  | Amount of Loss (Gain) Recorded in Income for the Year Ended December 31
Derivatives |  | 2023 |  | 2022 |  | 2021
Designated as hedging instruments |  |  |  |  |  |  |  |
Interest rate cash flow hedges 1 |  | Interest expense |  | $ | (.3) |  |  | $ | 2.3 |  |  | $ | 4.5 |
Currency cash flow hedges |  | Net trade sales |  | 3.7 |  |  | .5 |  |  | (9.6) |
Currency cash flow hedges |  | Cost of goods sold |  | (2.5) |  |  | (2.8) |  |  | (.2) |
Total cash flow hedges |  |  |  | .9 |  |  | — |  |  | (5.3) |
Fair value hedges |  | Other expense (income), net |  | .9 |  |  | 3.5 |  |  | (5.9) |
Not designated as hedging instruments |  | Other expense (income), net |  | 3.9 |  |  | (1.3) |  |  | (1.9) |
Total derivative instruments |  |  |  | $ | 5.7 |  |  | $ | 2.2 |  |  | $ | (13.1) |
1 In the fourth quarter of 2021, in connection with our issuance of our $500.0 Senior Notes due 2051, we settled $300.0 of treasury locks and recognized a gain of $10.2, which is being amortized over the life of the notes. In the third quarter of 2022, we completed amortization of the $43.0 loss on our $200.0 forward starting interest rate swap that was related to our 2012 $300.0 Senior Notes; the 2012 issuance matured and was fully paid in the third quarter of 2022.

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