Derivatives and Hedging (Tables)

6 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Fair Value of Derivative Instruments by Contract Type and Location of Asset and/or Liability on Consolidated Condensed Balance Sheets

The following table summarizes the fair value of our derivative instruments as well as the location of the asset and/or liability on the condensed consolidated balance sheets as of June 30, 2023 and consolidated balance sheets as of December 31, 2022 (in millions):

	Balance Sheet Location	Fair Value of Asset Derivatives
		June 30, 2023		December 31, 2022
Derivatives designated as cash flow hedging instruments:
Foreign currency forward contracts	Other current assets	$	3.5	$	0.1
Interest rate swap contract	Other current assets	7.4		4.4
Interest rate swap contract	Other assets	2.1		2.8
Total		$	13.0	$	7.3
Derivatives not designated as hedging instruments:
Foreign currency forward contracts	Other current assets	7.9		0.1
Total asset position		$	20.9	$	7.4

	Balance Sheet Location	Fair Value of Liability Derivatives
		June 30, 2023		December 31, 2022
Derivatives designated as cash flow hedging instruments:
Foreign currency forward contracts	Accounts payable and accrued expenses	$	0.5	$	2.6
Derivatives not designated as hedging instruments:
Foreign currency forward contracts	Accounts payable and accrued expenses	4.1		2.8
Total liability position		$	4.6	$	5.4

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)

The following tables summarize the net effect of all cash flow hedges for each of our derivative contracts on the condensed consolidated financial statements for the three and six months ended June 30, 2023 and 2022 (in millions):

	Gain Recognized in Other Comprehensive Income
	Three Months Ended June 30,				Six Months Ended June 30,
Derivatives designated as cash flow hedging instruments	2023		2022		2023		2022
Foreign currency forward contracts	$	4.7	$	2.7	$	7.1	$	3.7
Interest rate swap contracts	10.8		1.7		9.9		8.8
	$	15.5	$	4.4	$	17.0	$	12.5

	Gain (Loss) Reclassified from Other Comprehensive Income into Earnings
	Three Months Ended June 30,				Six Months Ended June 30,
Derivatives designated as cash flow hedging instruments	2023		2022		2023		2022
Foreign currency forward contracts	$	1.1	$	1.1	$	2.4	$	1.5
Interest rate swap contracts	1.9		(0.8)		2.8		(2.0)
	$	3.0	$	0.3	$	5.2	$	(0.5)

Location of Gains in Consolidated Condensed Statements of Operations that were Recognized and Derivative Contract Type

The following table summarizes the location of net gains and losses for each type of our derivative contracts recognized in the condensed consolidated statements of operations during the three and six months ended June 30, 2023 and 2022, respectively (in millions):

	Location of Net Gain Recognized in Income on Derivative Instruments	Amount of Net Gain Recognized in Income on  Derivative Instruments
Derivatives not designated as hedging instruments		Three Months Ended June 30,				Six Months Ended June 30,
		2023		2022		2023		2022
Foreign currency forward contracts	Other income, net	$	15.2	$	25.4	$	18.1	$	38.6