DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Derivative Financial Instruments at Fair Value

The following table presents assets and liabilities representing the fair value of our most significant derivative financial instruments. The fair values of the derivatives reflect the change in the market value of the derivative from the date of the trade execution and do not consider the offsetting underlying hedged item.

	Expiring at various dates through:	Total USD Equivalent Notional Amount		As of September 30, 2023
Derivatives				Assets				Liabilities
				Other Current Assets		Sundry		Other Current Liabilities		Other Long-Term Liabilities
Designated as hedging instruments
Total cash flow hedges-currency hedges	Mar 2025	$	292.9	$	2.6	$	.1	$	4.9	$	.4
Total fair value hedges	Jan 2024	28.9		—		—		.9		—
Not designated as hedging instruments	Sep 2024	135.2		.1		—		.7		—
Total derivatives				$	2.7	$	.1	$	6.5	$	.4

	Expiring at various dates through:	Total USD Equivalent Notional Amount		As of December 31, 2022
Derivatives				Assets				Liabilities
				Other Current Assets		Sundry		Other Current Liabilities		Other Long-Term Liabilities
Designated as hedging instruments
Total cash flow hedges-currency hedges	Jun 2024	$	263.4	$	1.9	$	.5	$	4.3	$	.4
Total fair value hedges	Apr 2023	65.5		.3		—		1.0		—
Not designated as hedging instruments	Dec 2023	86.0		.2		—		.2		—
Total derivatives				$	2.4	$	.5	$	5.5	$	.4

Summary of Pre-Tax (Gains) Losses of Hedging Activities

The following table sets forth the pretax (gains) losses for our hedging activities for the periods presented. This schedule includes reclassifications from accumulated other comprehensive income (see Note 12) as well as derivative settlements recorded directly to income or expense.

Derivatives	Income Statement Caption	Amount of (Gain) Loss Recorded in Income Nine Months Ended September 30,				Amount of (Gain) Loss Recorded in Income Three Months Ended September 30,
		2023		2022		2023		2022
Designated as hedging instruments
Interest rate cash flow hedges	Interest expense	$	.3	$	2.4	$	.5	$	.6
Currency cash flow hedges	Net trade sales	2.7		(1.7)		1.1		.6
Currency cash flow hedges	Cost of goods sold	(2.0)		(1.9)		(.7)		(.8)
Total cash flow hedges		1.0		(1.2)		.9		.4
Fair value hedges	Other (income) expense, net	1.4		4.9		.8		3.9
Not designated as hedging instruments	Other (income) expense, net	1.1		(2.2)		(2.4)		(2.3)
Total derivative instruments		$	3.5	$	1.5	$	(.7)	$	2.0