XML 81 R71.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Financial Instruments and Risk Management (Effect of Derivative Instruments on the Condensed Consolidated Balance Sheets Fair Value of Derivative Instruments Derivatives Designated As Hedging Instruments) (Details)
€ in Millions, ¥ in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
USD ($)
Jun. 30, 2023
USD ($)
Jun. 30, 2024
USD ($)
Jun. 30, 2023
USD ($)
Jun. 30, 2024
EUR (€)
Jun. 30, 2024
JPY (¥)
Dec. 31, 2023
USD ($)
Derivatives, Fair Value [Line Items]              
Fair value of financial instruments $ 134.4   $ 134.4       $ 106.2
Fair value of financial instruments 47.6   47.6       124.6
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax 8.4 $ 6.7 13.4 $ 14.4      
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax 65.1 21.4 221.3 (20.3)      
Net Investment Hedging              
Derivatives, Fair Value [Line Items]              
Long-term Debt         € 6,200.0 ¥ 40,000  
2020 Floating Rate Euro Notes | Net Investment Hedging              
Derivatives, Fair Value [Line Items]              
Long-term Debt | €         € 1,100.0    
Interest rate swaps | Cash Flow Hedging | Interest Expense [Member]              
Derivatives, Fair Value [Line Items]              
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax (1.3) (0.9) (2.5) (1.8)      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax (1.6) (1.1) (3.2) (2.3)      
Interest rate swaps | Net Investment Hedging | Interest Expense [Member]              
Derivatives, Fair Value [Line Items]              
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax 5.1 0.0 10.0 0.0      
Net unrecognized gain on derivatives in cash flow hedging relationships 2.6 0.0 3.8 0.0      
Foreign currency forward contracts | Cash Flow Hedging | Sales [Member]              
Derivatives, Fair Value [Line Items]              
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax 12.9 32.4 37.7 43.5      
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax 10.0 7.8 16.6 16.7      
Foreign currency forward contracts | Net Investment Hedging              
Derivatives, Fair Value [Line Items]              
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax 3.3 0.0 14.0 0.0      
Foreign currency forward contracts | Net Investment Hedging | Gains and Losses on Derivatives              
Derivatives, Fair Value [Line Items]              
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax 45.1 (10.1) 162.1 (62.0)      
Designated as Hedging Instrument              
Derivatives, Fair Value [Line Items]              
Fair value of financial instruments 45.3   45.3       17.5
Fair value of financial instruments 3.5   3.5       35.8
Designated as Hedging Instrument | Prepaid expenses and other current assets | Interest rate swaps              
Derivatives, Fair Value [Line Items]              
Fair value of financial instruments 11.2   11.2       0.0
Designated as Hedging Instrument | Prepaid expenses and other current assets | Foreign exchange forward contracts              
Derivatives, Fair Value [Line Items]              
Fair value of financial instruments 34.1   34.1       17.5
Designated as Hedging Instrument | Other Current Liabilities [Member] | Interest rate swaps              
Derivatives, Fair Value [Line Items]              
Fair value of financial instruments 0.5   0.5       0.0
Designated as Hedging Instrument | Other Current Liabilities [Member] | Foreign exchange forward contracts              
Derivatives, Fair Value [Line Items]              
Fair value of financial instruments 3.0   3.0       35.8
Not Designated as Hedging Instruments              
Derivatives, Fair Value [Line Items]              
Fair value of financial instruments 89.1   89.1       88.7
Fair value of financial instruments 44.1   44.1       88.8
Net unrecognized gain on derivatives in cash flow hedging relationships 71.5 (31.4) 49.9 13.2      
Not Designated as Hedging Instruments | Foreign currency forward contracts | Other Expense [Member]              
Derivatives, Fair Value [Line Items]              
Net unrecognized gain on derivatives in cash flow hedging relationships 68.9 $ (31.4) 46.1 $ 13.2      
Not Designated as Hedging Instruments | Prepaid expenses and other current assets | Foreign currency forward contracts              
Derivatives, Fair Value [Line Items]              
Fair value of financial instruments 89.1   89.1       88.7
Not Designated as Hedging Instruments | Other Current Liabilities [Member] | Foreign currency forward contracts              
Derivatives, Fair Value [Line Items]              
Fair value of financial instruments $ 44.1   $ 44.1       $ 88.8