v3.25.2
DERIVATIVE INSTRUMENTS
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE INSTRUMENTS DERIVATIVE INSTRUMENTS
During the normal course of operations, we are exposed to market risks including interest rates, foreign currency exchange rates and commodity prices. From time to time, we use derivative instruments to balance the cost and risk of such expenses. We do not use derivative instruments for trading or other speculative purposes.
In prior periods, we entered into interest rate locks of future debt issuances to hedge the risk of higher interest rates. These interest rate locks were designated as cash flow hedges. The gain/loss upon settlement of these cash flow hedges is deferred (recorded in accumulated other comprehensive income (AOCI)) and amortized to interest expense over the term of the related debt.
This amortization was reflected in the accompanying Condensed Consolidated Statements of Comprehensive Income as follows:
in millionsIncome Statement
Location		Three Months Ended
June 30		Six Months Ended
June 30
2025202420252024
Cash Flow Hedges
Loss reclassified from AOCIInterest expense$(0.6)$(0.6)$(1.2)$(1.1)
For the twelve-month period ending June 30, 2026, we estimate that $2.4 million of the $16.8 million net of tax loss in AOCI will be reclassified to interest expense.