Derivative and Hedging Designated Instruments (Tables)

3 Months Ended

Mar. 31, 2025

Derivative and Designated Hedging Instruments Disclosure [Abstract]

Schedule of fair value and balance sheet location of derivative instruments

	March 31, 2025					December 31, 2024
	Notional (in USD)		Fair Value			Notional (in USD)		Fair Value
Derivatives designated as hedging instruments
Interest rate cross-currency swap agreements
Other current assets	$	—	$	9.5		$	—	$	10.7
Other assets		—		4.4			—		11.1
Other long-term liabilities		—		(19.1	)		—		(17.2	)
	$	259.5	$	(5.2	)	$	263.3	$	4.6
Long-term debt
Long-term debt		1,493.6		(49.3	)		1,453.0		(8.5	)
Total derivatives designated as hedging instruments	$	1,753.1	$	(54.5	)	$	1,716.3	$	(3.9	)
Derivatives not designated as hedging instruments
Forward currency contracts
Other current assets	$	521.2	$	3.0		$	841.9	$	6.0
Other current liabilities		432.7		(0.6	)		78.6		(0.5	)
Total derivatives not designated as hedging instruments		953.9		2.4			920.5		5.5
Total derivatives	$	2,707.0	$	(52.1	)	$	2,636.8	$	1.6

The following is a summary of the gain (loss) included in Interest and other income (expense), net in the consolidated statements of operations and comprehensive income related to the derivative instruments described above (in millions):

Schedule of impact on net income of unrealized gains and losses resulting from changes in the fair value of derivative instruments

	Three Months Ended March 31,
	2025		2024
Derivatives not designated as hedging instruments
Forward currency contracts	$	4.2	$	2.0
Embedded derivatives in purchase and delivery contracts		0.2		(1.3	)
		4.4		0.7
Derivatives designated as cash flow hedging instruments
Interest rate cross-currency swap agreements	$	1.9	$	2.7
Derivatives designated as net investment hedging instruments
Interest rate cross-currency swap agreements	$	1.3	$	1.5
		3.2		4.2
Total	$	7.6	$	4.9

The following is a summary of the gain (loss) included in Accumulated other comprehensive income, net of tax in the consolidated statements of operations and comprehensive income related to the derivative instruments described above (in millions):

	Three Months Ended March 31,
	2025			2024
Derivatives designated as cash flow hedging instruments
Interest rate cross-currency swap agreements	$	(2.1	)	$	1.4
		(2.1	)		1.4
Derivatives designated as net investment hedging instruments
Interest rate cross-currency swap agreements	$	(5.4	)	$	10.2
Long-term debt		(31.1	)		50.5
		(36.5	)		60.7
Total	$	(38.6	)	$	62.1