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Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary 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 March 31, 2025
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 2026						$	238.8					$	2.4					$	—					$	4.2					$	.2
Total fair value hedges						Jun 2025						13.7						.2						—						—						—
Not designated as hedging instruments						Mar 2026						149.0						.1						—						.8						—
Total derivatives																		$	2.7					$	—					$	5.0					$	.2

						Expiring at various dates through:						Total USD Equivalent Notional Amount						As of December 31, 2024
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 2026						$	254.0					$	3.1					$	.3					$	5.8					$	.3
Total fair value hedges						Jun 2025						19.0						.1						—						.1						—
Not designated as hedging instruments						Dec 2025						166.5						1.6						—						.8						—
Total derivatives																		$	4.8					$	.3					$	6.7					$	.3

Summary of Pre-Tax (Gains) Losses of Hedging Activities

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 I) 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,
												2025						2024
Designated as hedging instruments
Interest rate cash flow hedges						Interest expense						$	(.1)					$	(.1)
Currency cash flow hedges						Net trade sales						1.5						.1
Currency cash flow hedges						Cost of goods sold						(.3)						(.5)
Total cash flow hedges												1.1						(.5)
Fair value hedges						Other expense, net of other income						(.1)						.2
Not designated as hedging instruments						Other expense, net of other income						3.0						(1.1)
Total derivative instruments												$	4.0					$	(1.4)

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- References

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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

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- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B

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