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Derivatives and Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

December 31, 2021

Sales hedges

U.S. dollars

Euros

Japanese Yen

Contract totals/£m

5.0

9.8

0.1

Maturity dates

01/22 to 03/22

01/22 to 03/22

01/22 to 03/22

Exchange rates

$1.3455 to $1.3788

€1.1697 to €1.1906

¥155.2443 to ¥156.6793

Purchase hedges

U.S. dollars

Euros

Canadian dollars

Australian dollars

Chinese yuan

Contract totals/£m

4.5

3.5

7.5

0.9

1.5

Maturity dates

01/22 to 04/22

01/22 to 02/22

01/22

01/22

03/22

Exchange rates

$1.3451 to $1.3781

€1.1812 to €1.1662

$1.7172 to $1.6762

$1.8598

¥8.6126

December 31, 2020

Sales hedges

U.S. dollars

Euros

Japanese Yen

Canadian dollars

Contract totals/£m

3.0

11.1

0.1

0.1

Maturity dates

01/21 to 03/21

01/21 to 04/21

01/21

01/21

Exchange rates

$1.3045 to $1.3667

€1.0917 to €1.1181

¥136.8910

$1.7409

Purchase hedges

U.S. dollars

Euros

Canadian dollars

Australian dollars

Chinese yuan

Contract totals/£m

4.8

1.7

9.4

0.9

0.9

Maturity dates

01/21 to 04/21

01/21 to 02/21

01/21

01/21

03/21

Exchange rates

$1.3046 to $1.3667

€1.1065 to €1.0944

$1.7409 to $1.7201

$1.7729

¥8.9184

Schedule of Fair Values of the Financial Instruments

The fair values of the financial instruments of the Company at December 31, 2021 and 2020, were analyzed using the hierarchy as follows:

						December 31, 2021
			In millions			Total						Level 1						Level 2						Level 3
			Derivative financial assets:
			Foreign currency contract assets			$	0.1					$	—					$	0.1					$	—
			Derivative financial liabilities:
			Foreign currency contract liabilities			0.1						—						0.1						—
			Interest bearing loans and borrowings:
			Loan Notes due 2023			25.0						—						25.0						—
			Loan Notes due 2026			25.0						—						25.0						—
			Revolving credit facility			10.8						—						10.8						—

						December 31, 2020
			In millions			Total						Level 1						Level 2						Level 3
			Derivative financial assets:
			Foreign currency contract assets			$	0.2					$	—					$	0.2					$	—
			Derivative financial liabilities:
			Foreign currency contract liabilities			0.4						—						0.4						—
			Interest bearing loans and borrowings:
			Loan Notes due 2023			25.0						—						25.0						—
			Loan Notes due 2026			25.0						—						25.0						—
			Revolving credit facility			4.1						—						4.1						—

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Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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