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Hedging Transactions And Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

The following table summarizes the notional values as of December 31, 2021 and 2020 and pretax impact of changes in the fair values of instruments designated as net investment hedges and cash flow hedges in accumulated other comprehensive loss (“OCI”) for the years ended December 31, 2021 and 2020 ($ in millions):



	Notional Amount		Gain Recognized in OCI
Year Ended December 31, 2021
Interest rate contract	$	250.0	$	6.1
Foreign currency contracts	650.0		49.7
Foreign currency denominated debt	236.5		32.5
Total	$	1,136.5	$	88.3



	Notional Amount		Loss Recognized in OCI
Year Ended December 31, 2020
Interest rate contracts	$	450.0	$	(8.4)
Foreign currency contracts	650.0		(52.9)
Foreign currency denominated debt	732.9		(60.0)
Total	$	1,832.9	$	(121.3)

Schedule of Notional Amounts of Outstanding Derivative Positions



	Notional Amount		Gain Recognized in OCI
Year Ended December 31, 2021
Interest rate contract	$	250.0	$	6.1
Foreign currency contracts	650.0		49.7
Foreign currency denominated debt	236.5		32.5
Total	$	1,136.5	$	88.3



	Notional Amount		Loss Recognized in OCI
Year Ended December 31, 2020
Interest rate contracts	$	450.0	$	(8.4)
Foreign currency contracts	650.0		(52.9)
Foreign currency denominated debt	732.9		(60.0)
Total	$	1,832.9	$	(121.3)

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The Company’s derivative instruments, as well as its non-derivative debt instruments designated and qualifying as net investment hedges, were classified as of December 31, 2021 and 2020, in the Company’s Consolidated Balance Sheets as follows ($ in millions):


	2021		2020
Derivative liabilities:
Accrued expenses and other liabilities	$	19.6	$	70.2

Nonderivative hedging instruments:
Short-term debt	$	—	$	472.0
Long-term debt	$	236.5	$	260.9