Financial Instruments (Tables)

9 Months Ended

Sep. 30, 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	September 30, 2021		December 31, 2020
Asset Category
Foreign exchange contracts not designated as hedging instruments	Other current assets	Level 2	$	0.1	$	0.2
Metals contracts not designated as hedging instruments	Other current assets	Level 2	2.6		0.4
Cross currency swaps designated as net investment hedge	Other current assets	Level 2	21.8		16.3
Interest rate swaps designated as cash flow hedging instruments	Other assets	Level 2	3.0		—
Cross currency swaps designated as net investment hedge	Other assets	Level 2	1.7		—
Total			$	29.2	$	16.9
Liability Category
Foreign exchange contracts not designated as hedging instruments	Accrued expenses and other current liabilities	Level 2	$	0.2	$	0.7
Metals contracts not designated as hedging instruments	Accrued expenses and other current liabilities	Level 2	1.5		1.6
Interest rate swaps designated as cash flow hedging instruments	Accrued expenses and other current liabilities	Level 2	18.8		17.6
Interest rate swaps designated as cash flow hedging instruments	Other liabilities	Level 2	17.7		33.5
Cross currency swaps designated as net investment hedge	Other liabilities	Level 2	9.0		43.3
Total			$	47.2	$	96.7