Financial Instruments (Tables)

9 Months Ended

Sep. 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	September 30, 2020		December 31, 2019
Asset Category
Foreign exchange not designated as hedging instruments	Other current assets	Level 2	$	3.1	$	0.9
Metals contracts not designated as hedging instruments	Other current assets	Level 2	1.9		0.3
Cross currency swaps designated as net investment hedge	Other current assets	Level 2	17.5		18.4
Available for sale equity securities	Other assets	Level 1	—		0.3
Total			$	22.5	$	19.9
Liability Category
Foreign exchange not designated as hedging instruments	Accrued expenses and other current liabilities	Level 2	$	4.0	$	0.2
Metals contracts not designated as hedging instruments	Accrued expenses and other current liabilities	Level 2	1.2		0.7
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	38.3		19.7
Cross currency swaps designated as net investment hedge	Other liabilities	Level 2	6.8		0.3
Total			$	67.8	$	27.8