Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The notional amount of the Company's derivative instruments is summarized as follows (in millions):

	As of December 31,
	2023		2022
Designated derivatives:
Cash flow hedges:
Foreign currency contracts	$	801.0	$	775.9
Interest rate lock contracts	—		650.0
Fair value hedges:
Interest rate swap contracts	600.0		600.0
Total designated derivatives	$	1,401.0	$	2,025.9
Non-designated derivatives	200.7		163.5
Total	$	1,601.7	$	2,189.4

Schedule of Derivative Liabilities at Fair Value

The fair value of derivative instruments on the Consolidated Balance Sheets was as follows:

		As of December 31,
	Balance Sheet Location	2023		2022
Derivative assets:
Derivatives designated as hedging instruments:
Foreign currency contracts as cash flow hedges	Other current assets	$	4.4	$	0.7
Foreign currency contracts as cash flow hedges	Other long-term assets	2.7		0.5
Interest rate lock contracts	Other long-term assets	—		125.4
Total derivatives designated as hedging instruments		$	7.1	$	126.6
Derivatives not designated as hedging instruments	Other current assets	0.1		0.1
Total derivative assets		$	7.2	$	126.7
Derivative liabilities:
Derivatives designated as hedging instruments:
Foreign currency contracts	Other accrued liabilities	$	6.0	$	32.3
Foreign currency contracts	Other long-term liabilities	1.0		5.1
Interest rate swap contracts	Other long-term liabilities	73.6		87.4
Total derivatives designated as hedging instruments		$	80.6	$	124.8
Derivatives not designated as hedging instruments	Other accrued liabilities	0.2		0.2
Total derivative liabilities		$	80.8	$	125.0

Schedule of Derivative Assets at Fair Value

The fair value of derivative instruments on the Consolidated Balance Sheets was as follows:

		As of December 31,
	Balance Sheet Location	2023		2022
Derivative assets:
Derivatives designated as hedging instruments:
Foreign currency contracts as cash flow hedges	Other current assets	$	4.4	$	0.7
Foreign currency contracts as cash flow hedges	Other long-term assets	2.7		0.5
Interest rate lock contracts	Other long-term assets	—		125.4
Total derivatives designated as hedging instruments		$	7.1	$	126.6
Derivatives not designated as hedging instruments	Other current assets	0.1		0.1
Total derivative assets		$	7.2	$	126.7
Derivative liabilities:
Derivatives designated as hedging instruments:
Foreign currency contracts	Other accrued liabilities	$	6.0	$	32.3
Foreign currency contracts	Other long-term liabilities	1.0		5.1
Interest rate swap contracts	Other long-term liabilities	73.6		87.4
Total derivatives designated as hedging instruments		$	80.6	$	124.8
Derivatives not designated as hedging instruments	Other accrued liabilities	0.2		0.2
Total derivative liabilities		$	80.8	$	125.0