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Derivatives (Tables) | 12 Months Ended
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Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of 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, 2024 (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, net |  | $ | 6.5 |  |  | Accrued expenses and other current liabilities |  | $ | — |
Foreign exchange contracts | Other assets |  | 4.4 |  |  | Other liabilities |  | 2.9 |
Interest rate contracts | Accounts receivable, net |  | — |  |  | Accrued expenses and other current liabilities |  | — |
Interest rate contracts | Other assets |  | 10.1 |  |  | Other liabilities |  | — |
Total derivatives designated as hedges |  |  | 21.0 |  |  |  |  | 2.9 |
Derivatives not designated as hedges: |  |  |  |  |  |  |
Foreign exchange contracts | Accounts receivable, net |  | 0.8 |  |  | Accrued expenses and other current liabilities |  | — |
Total derivatives not designated as hedges |  |  | 0.8 |  |  |  |  | — |
Total derivatives |  |  | $ | 21.8 |  |  |  |  | $ | 2.9 |
The following table presents the fair value of asset and liability derivatives and the respective balance sheet locations at December 31, 2023 (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, net |  | $ | 0.9 |  |  | Accrued expenses and other current liabilities |  | $ | — |
Foreign exchange contracts | Other assets |  | — |  |  | Other liabilities |  | 18.4 |
Interest rate contracts | Other assets |  | 10.9 |  |  | Other liabilities |  | 4.9 |
Total derivatives designated as hedges |  |  | 11.8 |  |  |  |  | 23.3 |
Derivatives not designated as hedges: |  |  |  |  |  |  |
Foreign exchange contracts | Accounts receivable, net |  | 1.7 |  |  | Accrued expenses and other current liabilities |  | 1.5 |
Total derivatives not designated as hedges |  |  | 1.7 |  |  |  |  | 1.5 |
Total derivatives |  |  | $ | 13.5 |  |  |  |  | $ | 24.8 |
Schedule of Net Effect Of Derivative Instruments Designated in Hedging Relationships by Income Statement Location | Gains (losses) on derivatives designated as cash flow and net investment hedges recognized in other comprehensive income (loss) are summarized below (in millions) on a pretax basis:
Derivatives Designated in Hedging Relationships | Gains (Losses) Recognized in Accumulated Other Comprehensive Income (Loss)
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Derivatives designated as cash flow hedge |  |  |  |  |
Amounts included in assessment of effectiveness | $ | 12.8 |  |  | $ | 11.6 |  |  | $ | 63.2 |
Derivatives designated as net investment hedge |  |  |  |  |
Amounts included in assessment of effectiveness | 22.9 |  |  | (14.8) |  |  | 33.1 |
Total gain | $ | 35.7 |  |  | $ | (3.2) |  |  | $ | 96.3 |
Schedule of Effect the Derivative Instruments Not Designated as Cash Flow Hedging Instruments on Net Income | Gains (losses) on derivatives within the Consolidated Statement of Income (Loss) were as follows (in millions):
|  | Location of Gains (Losses) |  | Amount of Gains (losses)Recognized
|  |  |  | Year Ended December 31,
|  |  |  | 2024 |  | 2023 |  | 2022
Effect of cash flow hedges |  |  |  |  |  |  |  |
Amount reclassified from Accumulated other comprehensive income (loss) to income |  | Interest expense |  | $ | 23.4 |  |  | $ | 28.4 |  |  | $ | 1.9 |
Effect of net investment hedges |  |  |  |  |  |  |  |
Amount excluded from assessment of hedge effectiveness |  | Interest expense |  | 7.6 |  |  | 10.0 |  |  | 10.6 |
Effect of fair value hedges |  |  |  |  |  |  |  |
Hedged item |  | Interest expense |  | 4.1 |  |  | 4.6 |  |  | — |
Derivative designated as hedges |  | Interest expense |  | (4.1) |  |  | (4.6) |  |  | — |
Effect of non-designated hedges |  |  |  |  |  |  |  |
Foreign exchange contracts |  | Other income |  | 3.8 |  |  | 0.8 |  |  | 3.6 |
Total gain |  |  |  | $ | 34.8 |  |  | $ | 39.2 |  |  | $ | 16.1 |

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