Hedging Transactions And Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative instruments, gain (loss)

The following table summarizes the notional values as of December 31, 2022 and 2021 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, 2022 and 2021 ($ in millions):

	Notional Amount		Gain Recognized in OCI
Year Ended December 31, 2022
Foreign currency denominated debt	$	222.7	$	13.8
Interest rate contract	—		2.2
Foreign currency contracts	—		68.5
Total	$	222.7	$	84.5

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

Schedule of notional amounts of outstanding derivative positions

The following table summarizes the notional values as of December 31, 2022 and 2021 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, 2022 and 2021 ($ in millions):

	Notional Amount		Gain Recognized in OCI
Year Ended December 31, 2022
Foreign currency denominated debt	$	222.7	$	13.8
Interest rate contract	—		2.2
Foreign currency contracts	—		68.5
Total	$	222.7	$	84.5

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

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, 2022 and 2021, in the Company’s Consolidated Balance Sheets as follows ($ in millions):

	2022		2021
Derivative liabilities:
Accrued expenses and other liabilities	$	—	$	19.6
Nonderivative hedging instruments:
Long-term debt	$	222.7	$	236.5