Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The fair value and carrying value of our fixed-rate debt, excluding any unamortized debt issuance costs, are as follows:

	December 31,
(In millions)	2020		2019
$600 million Senior unsecured notes
Carrying value	$	600.0	600.0
Fair value	640.9		624.7
$400 million Senior unsecured notes
Carrying value	$	400.0	—
Fair value	426.8		—

Derivatives Not Designated as Hedging Instruments

Amounts under these contracts were recognized in other operating income (expense) and in interest and other nonoperating income and expense as follows:

	Twelve Months Ended December 31,
(In millions)	2020		2019	2018
Derivative instrument gains (losses) included in other operating income (expense)	$	(3.0)	6.9	7.7
Derivative instrument losses included in other nonoperating income (expense)(a)	(7.0)		—	—

(a)Represents net losses on foreign currency forward contracts related to 2020 and anticipated 2021 acquisition of business operations from G4S.

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location

Amounts under this contract were recognized in other operating income (expense) to offset transaction gains or losses and in interest expense as follows:

	Twelve Months Ended December 31,
(In millions)	2020		2019
Derivative instrument gains included in other operating income (expense)	$	22.1	5.8
Offsetting transaction losses	(22.1)		(5.8)
Derivative instrument losses included in interest expense	(1.9)		(5.1)
Net derivative instrument gains	20.2		0.7

Schedule of Interest Rate Derivatives

The effect of these swaps is included in interest expense.

	Twelve Months Ended December 31,
(In millions)	2020		2019
Derivative instrument losses included in interest expense	$	7.7	1.0