Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of financial assets and liabilities measured at fair value on a recurring basis

Fair Value Measurements

The following table presents the Company’s financial assets and liabilities that are measured at fair value on a recurring basis:

(dollars in millions)	Balance sheet location	Classification	September 30, 2019		December 31, 2018
Asset Category
Foreign exchange and metals contracts not designated as hedging instruments	Other current assets	Level 2	$	3.3	$	0.9
Interest rate swaps designated as cash flow hedging instruments	Other current assets	Level 2	—		6.5
Cross currency swaps designated as net investment hedge	Other current assets	Level 2	19.1		—
Interest rate swaps designated as cash flow hedging instruments	Other assets	Level 2	—		2.6
Cross currency swaps designated as net investment hedge	Other assets	Level 2	20.2		—
Available for sale equity securities	Other assets	Level 1	0.3		0.3
Total			$	42.9	$	10.3
Liability Category
Foreign exchange and metals contracts not designated as hedging instruments	Accrued expenses and other current liabilities	Level 2	$	2.1	$	1.2
Interest rate swaps designated as cash flow hedging instruments	Accrued expenses and other current liabilities	Level 2	6.6		0.6
Interest rate swaps designated as cash flow hedging instruments	Other liabilities	Level 2	28.1		0.3
Long-term contingent consideration	Other liabilities	Level 3	21.1		57.4
Total			$	57.9	$	59.5