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Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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

The following table summarizes the fair value of our derivative financial instruments as of December 31, 2020 and 2019:

			Fair Value of Derivative Instruments
			Derivative Assets																		Derivative Liabilities
(in millions)			Balance Sheet Location						December 31, 2020						December 31, 2019						Balance Sheet Location						December 31, 2020						December 31, 2019
Derivatives designated as hedging instruments:
Foreign exchange contracts			Other current assets						$	0.1					$	0.4					Other current liabilities						$	5.0					$	0.9
Derivatives not designated as hedging instruments:
Foreign exchange contracts			Other current assets						1.6						7.6						Other current liabilities						1.2						8.6
Foreign exchange contracts			Other non-current assets						32.1						—						Other non-current liabilities						32.1						—
Total derivatives									$	33.8					$	8.0											$	38.3					$	9.5

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

The following tables summarize the pre-tax effect of the Company’s derivative financial instruments on the Consolidated Statements of Income for the years ended December 31, 2020, 2019 and 2018:

			The Effect of Derivative Instruments in Cash Flow Hedging Relationships on the Consolidated Financial Statements
			Amount of Gain (Loss) Recognized in AOCI (Effective Portion)																		Location of (Gain) Loss Reclassified from AOCI to Income						Amount of (Gain) Loss Reclassified from AOCI to Income (Effective Portion)
(in millions)			2020						2019						2018												2020						2019						2018
Cash flow hedges:
Foreign exchange contracts			$	(4.5)					$	1.0					$	9.1					Cost of products sold						$	0.5					$	(4.2)					$	(6.4)

			The Effect of Derivatives Not Designated as Hedging Instruments on the Consolidated Statements of Income
			Location of (Gain) Loss Recognized in Income on Derivatives						Amount of (Gain) Loss Recognized in Income year ended December 31,
(in millions)									2020						2019						2018
Foreign exchange contracts			Other expense (income), net						$	(0.1)					$	0.1					$	0.7

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- References

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- Definition

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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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959

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- Definition

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
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959

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