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Derivative instruments and hedging activities (Tables)

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

As of March 31, 2022, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk:

(in millions, except number of instruments)			Number of Instruments						Notional
Interest rate swaps			7						$	350.0

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The table below presents the fair value of the Company’s derivative financial instruments designated as hedges as well as their classification on the balance sheets.

			Asset Derivatives												Liability Derivatives
			March 31, 2022						December 31, 2021						March 31, 2022						December 31, 2021
			Balance Sheet Location			Fair Value			Balance Sheet Location			Fair Value			Balance Sheet Location			Fair Value			Balance Sheet Location			Fair Value
Interest Rate Swaps			Other Current Assets			$	0.2		Other Current Assets			$	—		Other Current Liabilities			$	—		Other Current Liabilities			$	4.5
			Other Assets			$	2.3		Other Assets			$	—		Other Liabilities			$	—		Other Liabilities			$	1.6

Derivative Instruments, Gain (Loss)

The table below presents the effect of cash flow hedge accounting on accumulated other comprehensive income.

			Cumulative Amount of Gain/(Loss) Recognized in OCI on Derivative						Location of Gain or (Loss) Reclassified from Accumulated OCI into Income			Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income
			March 31,			December 31,						Three Months Ended March 31,
			2022			2021						2022			2021
Interest Rate Swaps			$	2.5		$	(6.1)		Interest expense			$	1.4		$	1.4

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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.

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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.

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Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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