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Derivatives (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives by Balance Sheet Location

The following table presents the fair value of asset and liability derivatives and the respective balance sheet locations at December 31, 2020 ($ in millions):

			Asset Derivatives												Liability Derivatives
			Balance Sheet Location						Fair Value						Balance Sheet Location						Fair Value
Derivatives Designated as Hedges:
Foreign exchange contracts			Accounts receivable						$	0.9					Accrued expenses						$	11.0
Foreign exchange contracts			Other assets						—						Other liabilities						12.3
Interest rate contracts			Accounts receivable						0.3						Accrued expenses						—
Interest rate contracts			Other assets						—						Other liabilities						7.8
Total derivatives designated as hedges									$	1.2											$	31.1
Derivatives Not Designated as Hedges:
Foreign exchange contracts			Accounts receivable						$	—					Accounts payable						$	—
Total derivatives not designated as hedges									—												—
Total derivatives									$	1.2											$	31.1

The following table presents the fair value of asset and liability derivatives and the respective balance sheet locations at December 31, 2019 ($ in millions):

			Asset Derivatives												Liability Derivatives
			Balance Sheet Location						Fair Value						Balance Sheet Location						Fair Value
Derivatives Designated as Hedges:
Foreign exchange contracts			Accounts receivable						$	4.8					Accrued expenses						$	5.6
Foreign exchange contracts			Other assets						6.3						Other liabilities						5.5
Interest rate contracts			Accounts receivable						—						Accrued expenses						0.2
Total derivatives designated as hedges									$	11.1											$	11.3
Derivatives Not Designated as Hedges:
Foreign exchange contracts			Accounts receivable						$	0.1					Accounts payable						$	—
Total derivatives not designated as hedges									0.1												—
Total derivatives									$	11.2											$	11.3

Derivatives by Income Statement Location

The following table provides the gross effect that derivative instruments in cash flow hedging relationships had on accumulated other comprehensive income (loss), or AOCI, and results of operations ($ in millions):

Derivatives Designated as Cash Flow Hedging Relationships						Unrealized Gain (Loss) Recognized in AOCI on Derivatives, Net of Tax for the Year Ended December 31,																		Location of Loss (Gain) Reclassified from AOCI						Loss (Gain) Reclassified from AOCI, Net of Tax
						2020						2019						2018												2020						2019						2018
Derivatives designated as cash flow hedge
Foreign exchange contracts						$	(5.3)					$	(0.7)					$	(1.7)					Net sales						$	(3.4)					$	(1.2)					$	0.8
Foreign exchange contracts						1.4						(2.3)						0.1						Other income, net						1.4						(1.9)						0.1
Interest rate contracts						(7.7)						4.6						4.0						Interest expense						—						7.6						2.8
Derivatives designated as investment hedge
Foreign exchange contracts						(14.2)						—						—						Other income (expense), net						—						—						—
Total						$	(25.8)					$	1.6					$	2.4											$	(2.0)					$	4.5					$	3.7

Effect of Derivative Instruments Not Designated As Hedging Instruments

The following table provides the effect derivative instruments not designated as hedging instruments had on net income ($ in millions):

Derivatives Not Designated as Cash Flow Hedging Instruments			Amount of Gain / (Loss) Recognized in Other Income / Expense
			2020						2019						2018
Foreign exchange contracts			$	0.1					$	1.1					$	(2.5)
Total			$	0.1					$	1.1					$	(2.5)

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- References

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Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624181-113959

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-Section 50
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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
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