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Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2025

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 March 31, 2025 and December 31, 2024:

		Fair Value of Derivative Instruments
		Derivative Assets										Derivative Liabilities
(in millions)		Balance Sheet Location		March 31, 2025				December 31, 2024				Balance Sheet Location		March 31, 2025				December 31, 2024
Derivatives designated as hedging instruments:
Foreign exchange contracts		Other current assets		$	1.4			$	4.0			Other current liabilities		$	1.1			$	—
Derivatives not designated as hedging instruments:
Foreign exchange contracts		Other current assets			0.7				0.3			Other current liabilities			0.1				0.3
Foreign exchange contracts		Other non-current assets			1.5				9.0			Other non-current liabilities			1.5				9.0
Total derivatives				$	3.6			$	13.3					$	2.7			$	9.3

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

The following tables summarize the pre-tax effect of our derivative financial instruments on the condensed consolidated financial statements for the three months ended March 31, 2025 and 2024:

		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)
		Three months ended March 31,										Three months ended March 31,
(in millions)		2025				2024						2025				2024
Cash flow hedges:
Foreign exchange contracts		$	(0.6	)		$	1.0			Cost of products sold		$	(2.0	)		$	(0.4	)

		The Effect of Derivatives Not Designated as Hedging Instruments on the Consolidated Financial Statements
		Location of (Gain) Loss Recognized in Income on Derivatives		Amount of (Gain) Loss Recognized in Income
				Three months ended March 31,
(in millions)				2025				2024
Foreign exchange contracts		Other expense (income), net		$	0.1			$	1.3

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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
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A

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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
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B

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