v3.25.2
Derivatives (Tables)
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value of Derivative Instruments
The fair value of derivative instruments on our consolidated balance sheets was as follows:
Derivative AssetsDerivative Liabilities
Balance Sheet LocationJune 30, 2025December 31, 2024Balance Sheet LocationJune 30, 2025December 31, 2024
Derivatives designated as cash flow hedges:
Interest rate swapsOther current assets$— $0.1 Other current liabilities$0.3 $— 
Interest rate swapsOther assets— — Other liabilities0.5 0.2 
Derivatives designated as fair value hedges:
Cross-currency swapsOther current assets1.2 1.5 Other current liabilities— — 
Cross-currency swapsOther assets— 0.5 Other liabilities9.6 — 
Derivatives designated as net investment hedges:
Cross-currency swapsOther current assets1.2 1.2 Other current liabilities— — 
Cross-currency swapsOther assets— 0.2 Other liabilities9.5 — 
Derivatives not designated as hedging instruments:
Foreign currency forward contracts(a)
Other current assets$0.1 $0.8 Other current liabilities$1.0 $— 
Schedule of Effects of Derivatives Designated as Hedging Instruments
The following table includes the amounts in the consolidated statements of income in which the effects of derivatives designated as hedging instruments are recorded:
Three Months Ended
June 30,
20252024
TotalGain (Loss) on HedgingTotalGain on Hedging
Derivatives designated as cash flow hedges:
Interest expense, net$(2.2)$— $(2.5)$0.3 
Net foreign currency transaction (loss) gain(0.8)— 0.7 — 
Derivatives designated as fair value hedges:
Interest expense, net(2.2)0.2 (2.5)0.3 
Net foreign currency transaction (loss) gain(0.8)(5.6)0.7 0.5 
Derivatives designated as net investment hedges:
Interest expense, net$(2.2)$0.3 $(2.5)$0.2 
Six Months Ended June 30,
20252024
TotalGain (Loss) on HedgingTotalGain on Hedging
Derivatives designated as cash flow hedges:
Interest expense, net$(4.5)$0.1 $(4.8)$0.6 
Net foreign currency transaction (loss) gain(1.0)0.5 — 
Derivatives designated as fair value hedges:
Interest expense, net(4.5)0.5 (4.8)0.6 
Net foreign currency transaction (loss) gain(1.0)(8.3)0.5 1.9 
Derivatives designated as net investment hedges:
Interest expense, net$(4.5)$0.5 $(4.8)$0.5 
The effect of derivative instruments designated as hedges and derivative instruments not designated as hedges in our consolidated statements of income was as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
Derivatives designated as cash flow hedges:
Net gain (loss) recognized in other comprehensive income (loss), net of tax(a)
$— $0.5 $(0.4)$2.1 
Net gain reclassified from accumulated other comprehensive income (loss) into income, net of tax, effective portion to interest expense, net— 0.3 0.1 0.6 
Derivatives designated as fair value hedges:
Net (loss) gain recognized in other comprehensive income (loss), net of tax(a)
(2.6)0.3 (1.9)0.3 
Net (loss) gain reclassified from accumulated other comprehensive income (loss) into income, net of tax, effective portion to interest expense, net(2.5)0.2 (2.2)0.5 
Derivatives designated as net investment hedges:
Net (loss) gain recognized in other comprehensive income (loss), net of tax(a)
(2.3)0.7 (4.2)2.0 
Net gain reclassified from accumulated other comprehensive (loss) income into income, net of tax, ineffective portion to interest expense, net3.0 0.3 3.2 0.5 
Derivatives not designated as hedging instruments:
Net (loss) gain recognized in income(b)
$(5.6)$1.1 $(8.1)$2.9 
(a)Net change in the fair value of the effective portion classified in other comprehensive income (loss).
(b)Classified in net foreign currency transaction loss.