DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Forward Contracts

The Company has commodity forward contracts to hedge forecasted purchases of commodities with maturities extending through March 2027. The notional amounts expressed in terms of the dollar value of the hedged item were as follows:


	September 30, 2025		December 31, 2024
Copper	$	65.8	$	41.7

The Company has currency forward contracts with maturities extending through March 2027. The notional amounts expressed in terms of the dollar value of the hedged currency were as follows:


	September 30, 2025		December 31, 2024
Euro	$	722.9	$	1,221.5
Mexican Peso	356.6		233.2
Chinese Renminbi	411.7		359.5
Indian Rupee	32.4		23.0
Canadian Dollar	148.8		52.2
Australian Dollar	26.4		—

British Pound	16.7		6.1

Schedule of Fair Values of Derivative Instruments

Fair values of derivative instruments as of September 30, 2025 and December 31, 2024 were:


	September 30, 2025
	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets		Other Accrued Expenses		Other Noncurrent Liabilities
Designated as Hedging Instruments:

Currency Contracts	3.9		0.3		0.3		0.1
Commodity Contracts	3.0		0.3		1.0		0.2
Not Designated as Hedging Instruments:
Currency Contracts	2.4		—		3.0		—

Total Derivatives	$	9.3	$	0.6	$	4.3	$	0.3


	December 31, 2024
	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets		Other Accrued Expenses		Other Noncurrent Liabilities
Designated as Hedging Instruments:
Interest Rate Swap Contracts	$	—	$	5.5	$	—	$	—
Currency Contracts	0.1		—		8.0		—
Commodity Contracts	0.1		—		4.4		—
Not Designated as Hedging Instruments:
Currency Contracts	0.9		—		5.6		—

Total Derivatives	$	1.1	$	5.5	$	18.0	$	—

Schedule of Cash Flow Hedging Instruments

The effect of derivative instruments designated as cash flow hedges on the Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Comprehensive Income (Loss) were:


	Three Months Ended
	September 30, 2025								September 30, 2024
	Commodity Forwards		Currency Forwards		Interest Rate Swaps		Total		Commodity Forwards		Currency Forwards		Interest Rate Swaps		Total
(Loss) Gain Recognized in Other Comprehensive Income (Loss)	$	(0.7)	$	2.9	$	—	$	2.2	$	1.2	$	(4.9)	$	(7.2)	$	(10.9)
Amounts Reclassified from Other Comprehensive Income (Loss) Gain:

(Loss) Gain Recognized in Cost of Sales	(0.1)		(1.5)		—		(1.6)		0.7		5.1		—		5.8

Gain Recognized in Interest Expense	—		—		—		—		—		—		1.4		1.4

	Nine Months Ended
	September 30, 2025								September 30, 2024
	Commodity Forwards		Currency Forwards		Interest Rate Swaps		Total		Commodity Forwards		Currency Forwards		Interest Rate Swaps		Total
Gain (Loss) Recognized in Other Comprehensive Income (Loss)	$	6.1	$	10.1	$	(2.4)	$	13.8	$	1.3	$	(9.6)	$	(3.5)	$	(11.8)
Amounts Reclassified from Other Comprehensive Income (Loss) Gain:

(Loss) Gain Recognized in Cost of Sales	(1.1)		(5.7)		—		(6.8)		(1.1)		19.8		—		18.7

Gain Recognized in Interest Expense	—		—		6.1		6.1		—		—		4.3		4.3

Schedule of Derivatives Not Designated as Cash Flow Hedging Instruments

The effect of derivative instruments not designated as cash flow hedges on the Condensed Consolidated Statements of Income were:


	Three Months Ended
	September 30, 2025				September 30, 2024
	Commodity Forwards		Currency Forwards		Commodity Forwards		Currency Forwards

Loss recognized in Operating Expenses	$	—	$	(3.6)	$	—	$	(1.7)
	Nine Months Ended
	September 30, 2025				September 30, 2024
	Commodity Forwards		Currency Forwards		Commodity Forwards		Currency Forwards

Gain recognized in Operating Expenses	—		11.6		—		6.0

Schedule of Derivatives Offsetting Disclosures

The following table presents on a net basis the derivative assets and liabilities that are subject to right of offset under enforceable master netting agreements:


	September 30, 2025
	Gross Amounts as Presented on the Condensed Consolidated Balance Sheet		Derivative Contract Amounts Subject to Right of Offset		Derivative Contracts as Presented on a Net Basis

Assets	$	9.9	$	(1.5)	$	8.4
Liabilities	4.6		(1.5)		3.1


	December 31, 2024
	Gross Amounts as Presented on the Condensed Consolidated Balance Sheet		Derivative Contract Amounts Subject to Right of Offset		Derivative Contracts as Presented on a Net Basis

Assets	$	6.6	$	(1.1)	$	5.5
Liabilities	18.0		(1.1)		16.9