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Derivatives (Tables) | 9 Months Ended
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Sep. 30, 2025
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 September 30, 2025 (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 |  | $ | 2.3 |  |  | Accounts payable |  | $ | — |
Foreign exchange contracts | Other assets |  | — |  |  | Other liabilities |  | 55.1 |
Interest rate contracts | Accounts receivable, net |  | — |  |  | Accrued expenses and other current liabilities |  | — |
Interest rate contracts | Other assets |  | 1.8 |  |  | Other liabilities |  | 0.1 |
Total derivatives designated as hedges |  |  | 4.1 |  |  |  |  | 55.2 |
Derivatives not designated as hedges: |  |  |  |  |  |  |
Foreign exchange contracts | Accounts receivable, net |  | — |  |  | Accrued expenses and other current liabilities |  | — |
Total derivatives not designated as hedges |  |  | — |  |  |  |  | — |
Total derivatives |  |  | $ | 4.1 |  |  |  |  | $ | 55.2 |
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 | 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 |
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 Loss
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Derivatives designated as cash flow hedge |  |  |  |  |  |  |  |
Amounts included in assessment of effectiveness |  | $ | 0.5 |  |  | $ | (11.0) |  |  | $ | (3.6) |  |  | $ | 2.8 |
Derivatives designated as net investment hedge |  |  |  |  |  |  |  |
Amounts included in assessment of effectiveness |  | 3.9 |  |  | (18.7) |  |  | (57.9) |  |  | (6.1) |
Total gain (loss) |  | $ | 4.4 |  |  | $ | (29.7) |  |  | $ | (61.5) |  |  | $ | (3.3) |
Schedule of Effect the Derivative Instruments Not Designated as Cash Flow Hedging Instruments on Net Income | Gains (losses) on derivatives within the Condensed Consolidated Statement of Income (Loss) were as follows (in millions):
|  | Location of Gains (Losses) |  | Amount of Gains (Losses) Recognized
|  |  |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  |  |  | 2025 |  | 2024 |  | 2025 |  | 2024
Effect of cash flow hedges |  |  |  |  |  |  |  |  |  |
Amount reclassified from Accumulated other comprehensive income (loss) to income |  | Interest expense |  | $ | 3.8 |  |  | $ | 6.0 |  |  | $ | 11.5 |  |  | $ | 18.5 |
Effect of net investment hedges |  |  |  |  |  |  |  |  |  |
Amount excluded from assessment of hedge effectiveness |  | Interest expense |  | 1.5 |  |  | 1.8 |  |  | 5.1 |  |  | 5.6 |
Effect of fair value hedges |  |  |  |  |  |  |  |  |  |
Hedged item |  | Interest expense |  | — |  |  | 0.9 |  |  | — |  |  | 2.9 |
Derivative designated as hedges |  | Interest expense |  | — |  |  | (0.9) |  |  | — |  |  | (2.9) |
Effect of non-designated hedges |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | Other income |  | (1.2) |  |  | 0.8 |  |  | 3.7 |  |  | 3.7 |
Total gain |  |  |  | $ | 4.1 |  |  | $ | 8.6 |  |  | $ | 20.3 |  |  | $ | 27.8 |

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