Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2021

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 measured at fair value on a recurring basis:

(dollars in millions)	Balance sheet location	Classification	March 31, 2021		December 31, 2020
Asset Category
Foreign exchange contracts not designated as hedging instruments	Other current assets	Level 2	$	1.2	$	0.2
Metals contracts not designated as hedging instruments	Other current assets	Level 2	1.4		0.4
Cross currency swaps designated as net investment hedge	Other current assets	Level 2	17.4		16.3
Total			$	20.0	$	16.9
Liability Category
Foreign exchange contracts not designated as hedging instruments	Accrued expenses and other current liabilities	Level 2	$	0.4	$	0.7
Metals contracts not designated as hedging instruments	Accrued expenses and other current liabilities	Level 2	2.4		1.6
Interest rate swaps designated as cash flow hedging instruments	Accrued expenses and other current liabilities	Level 2	17.4		17.6
Interest rate swaps designated as cash flow hedging instruments	Other liabilities	Level 2	24.4		33.5
Cross currency swaps designated as net investment hedge	Other liabilities	Level 2	16.3		43.3
Total			$	60.9	$	96.7