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Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended
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Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Summary of Foreign Currency Forward Contracts Outstanding | The tables below provide information about the details of all foreign currency forward contracts that were outstanding as of December 31, 2022 and 2021:
|  | Weighted- Average Contract Rate |  |  | Notional Amount |  |  | Fair Value Gain (Loss) |
|  | (in millions, except weighted-average contract rate) |
As of December 31, 2022 |  |  |  |  |  |  |  |  |
Buy British pound sell U.S. dollar |  |  | 1.18 |  |  |  | 1.2 |  |  |  | — |
Buy Chinese yuan sell U.S. dollar |  |  | 6.76 |  |  |  | 67.1 |  |  |  | (0.7 | )
Buy Danish krone sell U.S. dollar |  |  | 7.18 |  |  |  | 0.8 |  |  |  | — |
Buy Euro sell Australian dollar |  |  | 1.58 |  |  |  | 2.2 |  |  |  | — |
Buy Euro sell British pound |  |  | 0.88 |  |  |  | 2.9 |  |  |  | — |
Buy Euro sell Canadian dollar |  |  | 1.45 |  |  |  | 2.4 |  |  |  | — |
Buy Euro sell Chilean peso |  |  | 923.81 |  |  |  | 5.0 |  |  |  | — |
Buy Euro sell Hong Kong dollar |  |  | 8.30 |  |  |  | 4.1 |  |  |  | — |
Buy Euro sell Indonesian rupiah |  |  | 16,539.00 |  |  |  | 14.8 |  |  |  | 0.1 |
Buy Euro sell Japanese yen |  |  | 140.08 |  |  |  | 1.8 |  |  |  | — |
Buy Euro sell Kazakhstani tenge |  |  | 505.00 |  |  |  | 1.9 |  |  |  | — |
Buy Euro sell Korean won |  |  | 1,349.36 |  |  |  | 1.1 |  |  |  | — |
Buy Euro sell Malaysian ringgit |  |  | 4.70 |  |  |  | 13.6 |  |  |  | — |
Buy Euro sell Mexican peso |  |  | 21.95 |  |  |  | 58.1 |  |  |  | (1.2 | )
Buy Euro sell Peruvian nuevo sol |  |  | 4.06 |  |  |  | 1.8 |  |  |  | — |
Buy Euro sell Philippine peso |  |  | 58.83 |  |  |  | 1.8 |  |  |  | — |
Buy Euro sell Taiwan dollar |  |  | 32.43 |  |  |  | 1.3 |  |  |  | — |
Buy Euro sell U.S. dollar |  |  | 1.07 |  |  |  | 42.3 |  |  |  | 0.2 |
Buy Euro sell Vietnamese dong |  |  | 25,485.00 |  |  |  | 6.9 |  |  |  | — |
Buy Indonesian rupiah sell U.S. dollar |  |  | 15,782.00 |  |  |  | 6.3 |  |  |  | 0.1 |
Buy Mexican peso sell Euro |  |  | 20.76 |  |  |  | 6.7 |  |  |  | — |
Buy Mexican peso sell U.S. dollar |  |  | 19.77 |  |  |  | 24.8 |  |  |  | 0.2 |
Buy Norwegian krone sell U.S. dollar |  |  | 10.25 |  |  |  | 1.9 |  |  |  | 0.1 |
Buy Polish zloty sell U.S. dollar |  |  | 4.66 |  |  |  | 0.8 |  |  |  | — |
Buy Swedish krona sell U.S. dollar |  |  | 10.62 |  |  |  | 1.1 |  |  |  | — |
Buy Taiwan dollar sell U.S. dollar |  |  | 30.42 |  |  |  | 7.3 |  |  |  | — |
Buy U.S. dollar sell Brazilian real |  |  | 5.38 |  |  |  | 2.5 |  |  |  | — |
Buy U.S. dollar sell Chinese yuan |  |  | 6.86 |  |  |  | 50.8 |  |  |  | (0.2 | )
Buy U.S. dollar sell Colombian peso |  |  | 4,784.57 |  |  |  | 1.7 |  |  |  | — |
Buy U.S. dollar sell Euro |  |  | 1.07 |  |  |  | 196.4 |  |  |  | (1.8 | )
Buy U.S. dollar sell Indian rupee |  |  | 82.58 |  |  |  | 2.9 |  |  |  | — |
Buy U.S. dollar sell Mexican peso |  |  | 20.02 |  |  |  | 12.4 |  |  |  | (0.1 | )
Buy U.S. dollar sell Philippine peso |  |  | 57.66 |  |  |  | 4.3 |  |  |  | (0.1 | )
Total forward contracts |  |  |  |  | $ | 551.0 |  |  | $ | (3.4 | )
|  | Weighted- Average Contract Rate |  |  | Notional Amount |  |  | Fair Value Gain (Loss) |
|  | (in millions, except weighted-average contract rate) |
As of December 31, 2021 |  |  |  |  |  |  |  |  |
Buy Brazilian real sell U.S. dollar |  |  | 5.77 |  |  | $ | 6.8 |  |  | $ | 0.1 |
Buy British pound sell Euro |  |  | 0.85 |  |  |  | 3.3 |  |  |  | — |
Buy Chinese yuan sell Euro |  |  | 7.73 |  |  |  | 50.5 |  |  |  | 1.9 |
Buy Chinese yuan sell U.S. dollar |  |  | 6.63 |  |  |  | 103.2 |  |  |  | 3.7 |
Buy Colombian peso sell U.S. dollar |  |  | 4,009.53 |  |  |  | 1.1 |  |  |  | — |
Buy Danish krone sell U.S. dollar |  |  | 6.59 |  |  |  | 0.9 |  |  |  | — |
Buy Euro sell British pound |  |  | 0.85 |  |  |  | 8.9 |  |  |  | (0.1 | )
Buy Euro sell Canadian dollar |  |  | 1.45 |  |  |  | 1.0 |  |  |  | — |
Buy Euro sell Chilean peso |  |  | 987.89 |  |  |  | 1.1 |  |  |  | — |
Buy Euro sell Chinese yuan |  |  | 7.26 |  |  |  | 1.8 |  |  |  | — |
Buy Euro sell Hong Kong dollar |  |  | 8.81 |  |  |  | 4.0 |  |  |  | — |
Buy Euro sell Indian rupee |  |  | 85.76 |  |  |  | 3.2 |  |  |  | — |
Buy Euro sell Indonesian rupiah |  |  | 16,154.00 |  |  |  | 11.2 |  |  |  | 0.1 |
Buy Euro sell Japanese yen |  |  | 128.73 |  |  |  | 1.3 |  |  |  | — |
Buy Euro sell Kazakhstani tenge |  |  | 501.00 |  |  |  | 1.5 |  |  |  | — |
Buy Euro sell Malaysian ringgit |  |  | 4.77 |  |  |  | 21.3 |  |  |  | (0.2 | )
Buy Euro sell Mexican peso |  |  | 24.84 |  |  |  | 47.4 |  |  |  | (1.7 | )
Buy Euro sell Peruvian nuevo sol |  |  | 4.56 |  |  |  | 2.5 |  |  |  | — |
Buy Euro sell Philippine peso |  |  | 56.41 |  |  |  | 2.3 |  |  |  | 0.1 |
Buy Euro sell Russian ruble |  |  | 84.24 |  |  |  | 10.5 |  |  |  | 0.2 |
Buy Euro sell South African rand |  |  | 18.03 |  |  |  | 1.6 |  |  |  | — |
Buy Euro sell Taiwan dollar |  |  | 31.28 |  |  |  | 1.8 |  |  |  | — |
Buy Euro sell Thai baht |  |  | 38.04 |  |  |  | 2.4 |  |  |  | — |
Buy Euro sell Turkish lira |  |  | 15.54 |  |  |  | 1.5 |  |  |  | — |
Buy Euro sell U.S. dollar |  |  | 1.14 |  |  |  | 19.3 |  |  |  | — |
Buy Euro sell Ukrainian hryvnia |  |  | 31.46 |  |  |  | 1.5 |  |  |  | — |
Buy Euro sell Vietnamese dong |  |  | 25,979.00 |  |  |  | 33.1 |  |  |  | — |
Buy Indian rupee sell Euro |  |  | 84.85 |  |  |  | 3.2 |  |  |  | — |
Buy Indonesian rupiah sell U.S. dollar |  |  | 14,379.57 |  |  |  | 6.9 |  |  |  | — |
Buy Kazakhstani tenge sell Euro |  |  | 493.00 |  |  |  | 1.1 |  |  |  | — |
Buy Norwegian krone sell U.S. dollar |  |  | 8.96 |  |  |  | 2.1 |  |  |  | — |
Buy Polish zloty sell U.S. dollar |  |  | 4.13 |  |  |  | 0.9 |  |  |  | — |
Buy South African rand sell U.S. dollar |  |  | 16.04 |  |  |  | 2.6 |  |  |  | — |
Buy Swedish krona sell U.S. dollar |  |  | 9.15 |  |  |  | 2.0 |  |  |  | — |
Buy Taiwan dollar sell U.S. dollar |  |  | 27.61 |  |  |  | 8.0 |  |  |  | — |
Buy Thai baht sell Euro |  |  | 38.02 |  |  |  | 0.9 |  |  |  | — |
Buy U.S. dollar sell Brazilian real |  |  | 5.79 |  |  |  | 18.8 |  |  |  | (0.4 | )
Buy U.S. dollar sell Chinese yuan |  |  | 6.51 |  |  |  | 45.2 |  |  |  | (0.9 | )
Buy U.S. dollar sell Colombian peso |  |  | 4,015.75 |  |  |  | 2.1 |  |  |  | — |
Buy U.S. dollar sell Euro |  |  | 1.13 |  |  |  | 169.2 |  |  |  | (0.8 | )
Buy U.S. dollar sell Indian rupee |  |  | 75.36 |  |  |  | 3.0 |  |  |  | — |
Buy U.S. dollar sell Korean won |  |  | 1,179.42 |  |  |  | 4.0 |  |  |  | — |
Buy U.S. dollar sell Mexican peso |  |  | 22.43 |  |  |  | 10.6 |  |  |  | (0.2 | )
Buy U.S. dollar sell Philippine peso |  |  | 50.27 |  |  |  | 6.0 |  |  |  | 0.2 |
Buy U.S. dollar sell South African rand |  |  | 15.95 |  |  |  | 3.0 |  |  |  | — |
Buy U.S. dollar sell Thai baht |  |  | 33.71 |  |  |  | 5.9 |  |  |  | (0.1 | )
Buy Ukrainian hryvnia sell Euro |  |  | 31.62 |  |  |  | 1.2 |  |  |  | — |
Buy Vietnamese dong sell Euro |  |  | 25,865.00 |  |  |  | 3.3 |  |  |  | — |
Total forward contracts |  |  |  |  | $ | 645.0 |  |  | $ | 1.9 |
Gains (Losses) Relating to Derivative Instruments Recorded in Other Comprehensive Loss | The following table summarizes gains (losses) relating to derivative instruments recorded in other comprehensive loss during the years ended December 31, 2022, 2021, and 2020:
|  | Amount of (Loss) Gain Recognized in Other Comprehensive (Loss) Income |
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
|  | (in millions) |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |
Foreign exchange currency contracts relating to inventory and intercompany management fee hedges |  | $ | (5.5 | ) |  | $ | 0.1 |  |  | $ | 2.3 |
Interest rate swaps |  |  | 0.5 |  |  |  | — |  |  |  | (1.6 | )
Effect of Cash Flow Hedging Relationships on Condensed Consolidated Statements of Income | The effect of cash flow hedging relationships on the Company’s consolidated statements of income for the years ended December 31, 2022, 2021, and 2020 was as follows:
|  | Location and Amount of (Loss) Gain Recognized in Income on Cash Flow Hedging Relationships |
|  | Year Ended December 31, |
|  | 2022 |
|  | Cost of sales |  |  | Selling, general, and administrative expenses |  |  | Interest expense |
|  | (in millions) |
Total amounts presented in the consolidated statements of income |  | $ | 1,173.6 |  |  | $ | 1,810.4 |  |  | $ | 139.3 |
Foreign exchange currency contracts relating to inventory hedges: |  |  |  |  |  |  |  |  |
Amount of loss reclassified from accumulated other comprehensive loss to income |  |  | (5.3 | ) |  |  | — |  |  |  | — |
Amount of loss excluded from assessment of effectiveness recognized in income |  |  | (6.2 | ) |  |  | — |  |  |  | — |
Foreign exchange currency contracts relating to intercompany management fee hedges: |  |  |  |  |  |  |  |  |
Amount of gain reclassified from accumulated other comprehensive loss to income |  |  | — |  |  |  | 2.1 |  |  |  | — |
Amount of gain excluded from assessment of effectiveness recognized in income |  |  | — |  |  |  | 0.4 |  |  |  | — |
Interest rate swaps: |  |  |  |  |  |  |  |  |
Amount of gain reclassified from accumulated other comprehensive loss to income |  |  | — |  |  |  | — |  |  |  | 0.2 |
Amount of gain excluded from assessment of effectiveness recognized in income |  |  | — |  |  |  | — |  |  |  | — |
|  | Location and Amount of (Loss) Gain Recognized in Income on Cash Flow Hedging Relationships |
|  | Year Ended December 31, |
|  | 2021 |
|  | Cost of sales |  |  | Selling, general, and administrative expenses |  |  | Interest expense |
|  | (in millions) |
Total amounts presented in the consolidated statements of income |  | $ | 1,239.3 |  |  | $ | 2,012.1 |  |  | $ | 153.1 |
Foreign exchange currency contracts relating to inventory hedges: |  |  |  |  |  |  |  |  |
Amount of loss reclassified from accumulated other comprehensive loss to income |  |  | (2.4 | ) |  |  | — |  |  |  | — |
Amount of loss excluded from assessment of effectiveness recognized in income |  |  | (3.6 | ) |  |  | — |  |  |  | — |
Foreign exchange currency contracts relating to intercompany management fee hedges: |  |  |  |  |  |  |  |  |
Amount of loss reclassified from accumulated other comprehensive loss to income |  |  | — |  |  |  | (0.2 | ) |  |  | — |
Amount of gain excluded from assessment of effectiveness recognized in income |  |  | — |  |  |  | 0.1 |  |  |  | — |
Interest rate swaps: |  |  |  |  |  |  |  |  |
Amount of loss reclassified from accumulated other comprehensive loss to income |  |  | — |  |  |  | — |  |  |  | (0.9 | )
Amount of gain excluded from assessment of effectiveness recognized in income |  |  | — |  |  |  | — |  |  |  | — |
|  | Location and Amount of Gain (Loss) Recognized in Income on Cash Flow Hedging Relationships |
|  | Year Ended December 31, |
|  | 2020 |
|  | Cost of sales |  |  | Selling, general, and administrative expenses |  |  | Interest expense |
|  | (in millions) |
Total amounts presented in the consolidated statements of income |  | $ | 1,150.6 |  |  | $ | 2,075.0 |  |  | $ | 133.0 |
Foreign exchange currency contracts relating to inventory hedges: |  |  |  |  |  |  |  |  |
Amount of gain reclassified from accumulated other comprehensive loss to income |  |  | 5.1 |  |  |  | — |  |  |  | — |
Amount of loss excluded from assessment of effectiveness recognized in income |  |  | (3.3 | ) |  |  | — |  |  |  | — |
Foreign exchange currency contracts relating to intercompany management fee hedges: |  |  |  |  |  |  |  |  |
Amount of loss reclassified from accumulated other comprehensive loss to income |  |  | — |  |  |  | (0.2 | ) |  |  | — |
Amount of gain excluded from assessment of effectiveness recognized in income |  |  | — |  |  |  | 0.1 |  |  |  | — |
Interest rate swaps: |  |  |  |  |  |  |  |  |
Amount of loss reclassified from accumulated other comprehensive loss to income |  |  | — |  |  |  | — |  |  |  | (0.5 | )
Amount of gain excluded from assessment of effectiveness recognized in income |  |  | — |  |  |  | — |  |  |  | — |
Gains Relating to Derivative Instruments Not Designated As Hedging Instruments Recorded to Income | The following table summarizes gains (losses) recorded to income relating to derivative instruments not designated as hedging instruments during the December 31, 2022, 2021, and 2020:
|  | Amount of (Loss) Gain Recognized in Income |  |  |
|  | Year Ended December 31, |  |  |
|  | 2022 |  |  | 2021 |  |  | 2020 |  |  | Location of (Loss) Gain Recognized in Income
|  | (in millions) |  |  |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |
Foreign exchange currency contracts |  | $ | (6.5 | ) |  | $ | 5.9 |  |  | $ | 2.5 |  |  | Selling, general, and administrative expenses

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