Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Values of Financial Assets and Liabilities

The fair values of the Company’s financial assets and liabilities were as follows (in millions):

	Level 1		Level 2		Level 3		Total
December 31, 2022
Assets:
SERP plan assets (a)	$	13.8	$	—	$	—	$	13.8
Investment in equity securities (b)		3.8		—		—		3.8
Foreign currency exchange derivatives (c)		—		12.7		—		12.7
Liabilities:
Foreign currency exchange derivatives (c)	$	—	$	1.6	$	—	$	1.6

	Level 1		Level 2		Level 3		Total
December 31, 2021
Assets:
SERP plan assets (a)	$	21.3	$	—	$	—	$	21.3
Investment in equity securities (b)		14.2		—		—		14.2
Foreign currency exchange derivatives (c)		—		3.6		—		3.6
Liabilities:
Foreign currency exchange derivatives (c)	$	—	$	0.9	$	—	$	0.9

	Level 1		Level 2		Level 3		Total
September 30, 2021
Assets:
SERP plan assets (a)	$	21.3	$	—	$	—	$	21.3
Investment in equity securities (b)		20.6		—		—		20.6
Foreign currency exchange derivatives (c)		—		2.6		—		2.6
Liabilities:
Foreign currency exchange derivatives (c)	$	—	$	1.7	$	—	$	1.7

(a)Represents investments held in a rabbi trust for the Company’s non-qualified supplemental executive retirement plan (SERP). The fair values of these investments are determined using a market approach. Investments include mutual funds for which quoted prices in active markets are available. The Company records changes in the fair value of investments in “Miscellaneous, net” in the Consolidated Statements of Income.

(b)Represents investments in equity securities for which quoted prices in active markets are available. The Company records changes in the fair value of investments in “Miscellaneous, net” in the Consolidated Statements of Income.

(c)Based on observable market transactions of forward currency prices.