Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

A summary of our interest rate swaps is as follows:

Interest Rate Swap Agreements	Designation	Maturity Date	Rate	Notional Value		Debt Instrument Hedged	Percentage of Debt Instrument Outstanding
March 31, 2022
September 2019 Swap	Cash flow hedge	June 1, 2023	1.50%	$	50.0	First Lien Dollar Term Facility	20%
Second Amended January 2019 Swap	Cash flow hedge	June 1, 2024	2.09%		200.0	First Lien Dollar Term Facility	80%
				$	250.0		100%
December 31, 2021
September 2019 Swap	Cash flow hedge	June 1, 2023	1.50%	$	50.0	First Lien Dollar Term Facility	20%
Second Amended January 2019 Swap	Cash flow hedge	June 1, 2024	2.09%		200.0	First Lien Dollar Term Facility	80%
				$	250.0		100%

Schedule of Derivative Assets at Fair Value

The following table summarizes the total fair values of derivative assets and liabilities and the respective classification in the condensed consolidated balance sheets as of March 31, 2022 and December 31, 2021. The net amount of derivatives can be reconciled to the tabular disclosure of fair value in Note 10, “Fair Value Measurement”:

		Assets (Liabilities)
	Balance Sheet Classification	March 31, 2022			December 31, 2021
Interest Rate Swap Agreements
Designated as cash flow hedges	Accrued liabilities and other	$	(0.4	)	$	(3.8	)
Designated as cash flow hedges	Derivative instruments		-			(2.4	)
Designated as cash flow hedges	Other assets		2.0			-
		$	1.6		$	(6.2	)
Cross-Currency Swap Agreement
Designated as net investment hedge	Other assets	$	0.9		$	2.3
		$	0.9		$	2.3

Schedule of Derivative Instruments, Gain (Loss)

The following table presents the effect of our derivative financial instruments on our unaudited condensed consolidated statements of operations. The income effects of our derivative activities are reflected in interest expense.

	Three Months Ended March 31,
	2022			2021
Total interest expense presented in the statement of operations	$	5.0		$	5.6
Interest rate swap agreements designated as cash flow hedges		1.0			1.0
Cross-currency swap agreement designated as net investment hedge, amounts excluded from effectiveness testing	$	(0.3	)	$	-