XML 89 R46.htm IDEA: XBRL DOCUMENT v3.25.4
Derivative Instruments (Tables)
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Foreign currency forward contracts that were entered into to hedge forecasted revenue
The notional amount of foreign currency forward contracts and foreign currency options that were entered into to hedge forecasted revenue and operating expense is summarized as follows:
 Notional Amount
As of December 31,
(In millions)20252024
Euro$1,531.0 $1,062.6 
British pound— 133.8 
Canadian dollar— 38.6 
Total foreign currency forward contracts and options$1,531.0 $1,235.0 
Summary of unrealized gain (loss) on derivative instruments that are included in AOCI
The pre-tax portion of the fair value of these foreign currency forward contracts and foreign currency options that were included in AOCI in total equity is summarized as follows:
For the Years Ended December 31,
(In millions)202520242023
Unrealized gains$— $50.6 $— 
Unrealized (losses)(73.3)(0.3)(34.8)
Net unrealized gains (losses)$(73.3)$50.3 $(34.8)
Summary of the effect of derivatives designated as cash flow hedging instruments on our consolidated statements of income
The following table summarizes the effect of foreign currency forward contracts and forward currency options designated as hedging instruments in our consolidated statements of income:
For the Years Ended December 31,
Net Gains/(Losses)
Reclassified from AOCI into Operating Income (in millions)
Net Gains/(Losses) Excluded from Effectiveness Testing and
Recognized in Operating Income (in millions)
Location202520242023Location202520242023
Revenue$(72.4)$18.1 $11.6 Revenue$9.7 $(0.8)$(2.4)
Operating expense21.3 (12.9)3.7 Operating expense— — — 
Summary of the fair value for our outstanding derivatives
The following table summarizes the fair value and presentation in our consolidated balance sheets of our outstanding derivative instruments, including those designated as hedging instruments:
As of December 31,
(In millions)Balance Sheet Location20252024
Cash Flow Hedging Instruments:
Asset derivative instrumentsOther current assets$0.1 $58.4 
Investments and other assets0.4 — 
Liability derivative instrumentsAccrued expense and other54.0 0.3 
Other long-term liabilities2.2 — 
Other Derivative Instruments:
Asset derivative instrumentsOther current assets9.9 4.1 
Liability derivative instrumentsAccrued expense and other2.7 11.4