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Financial Instruments and Risk Management (Tables)
12 Months Ended
Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Effect of Cash Flow and Net Investment Hedge Accounting on Accumulated Other Comprehensive Income
Effect of Cash Flow and Net Investment Hedge Accounting on AOCI
In millionsAmount of Gain (Loss) Recognized in AOCIAmount of Gain (Loss) Reclassified from AOCI into Net incomeLocation of Gain (Loss) Reclassified from AOCI into Net income
Years Ended December 31,
2021202020212020
Cash flow hedging derivatives
Currency exchange contracts$0.8 $(0.1)$(0.3)$0.1 Net sales
Natural gas contracts1.6 (0.5)(0.7)1.1Cost of sales
Interest rate swap contracts4.8 (5.0)— — Interest expense
Total$7.2 $(5.6)$(1.0)$1.2 
Amount of Gain (Loss) Recognized in AOCIAmount of Gain (Loss) Recognized in Income on Derivative
(Amount Excluded from Effectiveness Testing)
Location of Gain or (Loss) Recognized in Income on Derivative
(Amount Excluded from Effectiveness Testing)
Years Ended December 31,
2021202020212020
Net investment hedging derivative
Currency exchange contracts (1)
$9.6 $(11.7)$0.5 $1.6 Interest income
Total$9.6 $(11.7)$0.5 $1.6 
__________
(1) Reclassifications from AOCI to Net Income were zero for all periods presented. Gains and losses would be reclassified from AOCI to Other (income) expense, net.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
December 31, 2021
In millions
Level 1 (1)
Level 2 (2)
Level 3 (3)
Total
Assets:
Currency exchange contracts (4)
$— $0.5 $— $0.5 
Net investment hedge (5)
— 2.0 — 2.0 
Total assets$— $2.5 $— 2.5 
Liabilities:
Natural gas contracts (6)
$— $0.6 $— $0.6 
Net investment hedge (7)
— 1.0 — 1.0 
Interest rate swap contracts (7)
— 4.0 — 4.0 
Total liabilities$— $5.6 $— $5.6 
December 31, 2020
In millions
Level 1 (1)
Level 2 (2)
Level 3 (3)
Total
Assets:
Natural gas contracts (4)
$— $0.1 $— $0.1 
Total assets$— $0.1 $— $0.1 
Liabilities:
Natural gas contracts (6)
$— $0.2 $— $0.2 
Currency exchange contracts (6)
— 0.1 — 0.1 
Net investment hedge (7)
— 8.6 — 8.6 
Interest rate swap contracts (7)
— 8.9 — 8.9 
Total liabilities$— $17.8 $— $17.8 
__________
(1) Quoted prices in active markets for identical assets.
(2) Quoted prices for similar assets and liabilities in active markets.
(3) Significant unobservable inputs.
(4) Included within "Other current assets" on the consolidated balance sheet.
(5) Included within "Other assets" on the consolidated balance sheet.
(6) Included within "Accrued expenses" on the consolidated balance sheet.
(7) Included within "Other liabilities" on the consolidated balance sheet.