v3.26.1
Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Foreign Exchange Contracts and Foreign Exchange Rate Risk The following table summarizes the total amount of the following forward exchange contracts as fair value hedges at the following dates:
(in millions)June 30,December 31,
Forward Exchange ContractsCurrency20262025
Cross-Currency Intercompany LoansSGDSGD209.1 SGD421.9 
Cross-Currency Intercompany Demand NotesEUR€23.5 €23.5 
As of June 30, 2026, we had outstanding foreign currency contracts to purchase and sell certain pairs of currencies, as follows:
(in millions)Sell
CurrencyPurchaseUSDEUR
EUR27.0 32.2 — 
JPY5,206.2 20.3 12.3 
SGD64.5 47.5 3.5 
Schedule of Effects of Derivative Instruments on Other Comprehensive Income ('OCI') and Earnings
The following table summarizes the effects of derivative instruments designated as fair value hedges on the condensed consolidated statements of income:
Amount of Gain (Loss) Recognized in Income for theAmount of Gain (Loss) Recognized in Income for the
Three Months Ended
June 30,		Six Months Ended
June 30,		Location on Statement of Income
($ in millions)2026202520262025
Fair Value Hedges:
Hedged item (intercompany loan)
$(0.4)$0.1 $(4.9)$3.4 Other expense (income)
Derivative designated as hedging instrument
0.4 (0.1)4.9 (3.4)Other expense (income)
Amount excluded from effectiveness testing
0.3 (0.5)(0.9)(0.9)Other expense (income)
Total$0.3 $(0.5)$(0.9)$(0.9)
The following tables summarize the effects of derivative instruments designated as fair value, cash flow, and net investment hedges on other comprehensive income (“OCI”) and earnings, net of tax:
 Amount of Gain (Loss) Recognized in OCI for theAmount of (Gain) Loss Reclassified from Accumulated OCI into Income for theLocation of (Gain) Loss Reclassified from Accumulated OCI into Income
Three Months Ended
June 30,		Three Months Ended
June 30,
($ in millions)2026202520262025 
Fair Value Hedges:
Foreign currency hedge contracts$(0.1)$0.4 $— $— Other expense (income)
Total$(0.1)$0.4 $— $— 
Cash Flow Hedges:     
Foreign currency hedge contracts$(0.3)$(1.9)$0.1 $0.3 Net sales
Foreign currency hedge contracts(1.3)4.1 0.7 (0.4)Cost of goods and services sold
Total$(1.6)$2.2 $0.8 $(0.1) 
Net Investment Hedges:     
Cross-currency swap$1.4 $(3.5)$— $— Other expense (income)
Total$1.4 $(3.5)$— $—  
 Amount of Gain (Loss) Recognized in OCI for theAmount of (Gain) Loss Reclassified from Accumulated OCI into Income for theLocation of (Gain) Loss Reclassified from Accumulated OCI into Income
Six Months Ended
June 30,		Six Months Ended
June 30,
($ in millions)2026202520262025 
Fair Value Hedges:
Foreign currency hedge contracts$0.2 $0.8 $— $— Other expense (income)
Total$0.2 $0.8 $— $— 
Cash Flow Hedges:     
Foreign currency hedge contracts$(0.1)$(2.6)$0.4 $0.1 Net sales
Foreign currency hedge contracts(2.6)6.5 1.1 0.2 Cost of goods and services sold
Forward treasury locks— — — — Interest expense
Total$(2.7)$3.9 $1.5 $0.3  
Net Investment Hedges:     
Cross-currency swap$1.8 $(6.3)$— $— Other expense (income)
Total$1.8 $(6.3)$— $—  
The following table summarizes the effects of derivative instruments designated as cash flow and net investment hedges by line item in the condensed consolidated statements of income:
Three Months Ended
June 30,		Six Months Ended
June 30,
($ in millions)2026202520262025
Net sales$0.1 $0.3 $0.4 $0.1 
Cost of goods and services sold$0.7 $(0.4)$1.1 $0.2 
Interest expense$— $— $— $— 
Schedule of Derivative Instruments Not Designated as Hedges
The following table summarizes the effects of derivative instruments not designated as hedges on the condensed consolidated statements of income:
Amount of Gain (Loss) Recognized in Income for theAmount of Gain (Loss) Recognized in Income for the
Three Months Ended
June 30,		Six Months Ended
June 30,		Location on Statement of Income
($ in millions)2026202520262025
Commodity call options$(0.9)$(0.2)$1.0 $(0.4)Other expense (income)
Currency Forwards(0.3)0.8 1.2 0.8 Other expense (income)
Total$(1.2)$0.6 $2.2 $0.4