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Derivative Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2022
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, 2022 and 2021:
|  | Fair Value of Derivative Instruments
|  | Derivative Assets |  | Derivative Liabilities
(in millions) |  | Balance Sheet Location |  | December 31, 2022 |  | December 31, 2021 |  | Balance Sheet Location |  | December 31, 2022 |  | December 31, 2021
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | Other current assets | $ | 3.6 | $ | 5.6 |  | Other current liabilities | $ | 1.9 | $ | 0.1
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | Other current assets |  | 0.7 |  | 0.7 |  | Other current liabilities |  | 0.7 |  | 0.6
Foreign exchange contracts |  | Other non-current assets |  | 4.9 |  | 10.2 |  | Other non-current liabilities |  | 4.9 |  | 10.2
Total derivatives |  |  | $ | 9.2 | $ | 16.5 |  |  | $ | 7.5 | $ | 10.9
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, 2022, 2021, and 2020:
|  | 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) |  | 2022 |  | 2021 |  | 2020 |  |  |  | 2022 |  | 2021 |  | 2020
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts | $ | 9.8 | $ | 9.1 | $ | (4.5) |  | Cost of products sold | $ | (14.0) | $ | 1.0 | $ | 0.5
|  | The Effect of Derivatives Not Designated as Hedging Instruments on the Consolidated Statements of (Loss) Income
|  | Location of (Gain) Loss Recognized in Income on Derivatives |  | Amount of (Gain) Loss Recognized in Income
(in millions) |  |  |  | 2022 |  | 2021 |  | 2020
Foreign exchange contracts |  | Other expense, net | $ | (3.7) | $ | — | $ | (0.1)

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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 https://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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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 https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 + Details
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