Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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

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	June 30, 2020		December 31, 2019
Asset Category
Foreign exchange and metals contracts not designated as hedging instruments	Other current assets	Level 2	$	1.4	$	1.2
Cross currency swaps designated as net investment hedge	Other current assets	Level 2	18.5		18.4
Cross currency swaps designated as net investment hedge	Other assets	Level 2	29.3		—
Available for sale equity securities	Other assets	Level 1	—		0.3
Total			$	49.2	$	19.9
Liability Category
Foreign exchange and metals contracts not designated as hedging instruments	Accrued expenses and other current liabilities	Level 2	$	2.3	$	0.9
Interest rate swaps designated as cash flow hedging instruments	Accrued expenses and other current liabilities	Level 2	17.5		6.9
Interest rate swaps designated as cash flow hedging instruments	Other liabilities	Level 2	41.2		19.7
Cross currency swaps designated as net investment hedge	Other liabilities	Level 2	—		0.3
Total			$	61.0	$	27.8