Quarterly report pursuant to Section 13 or 15(d)

Derivatives and Hedging (Tables)

v3.24.1.u1
Derivatives and Hedging (Tables)
 3 Months Ended
Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value The following table presents the fair values of the Company’s derivative instruments that were designated and qualified as part of a hedging relationship (in millions):
Fair Value (1)
Derivatives Designated as Hedging Instruments Balance Sheet Location March 31, 2024 December 31, 2023
Assets:
Accrued Interest Receivable on Cross-Currency Rate Swaps Prepaid expenses and other currents assets $ 0.1  $ 0.1 
Interest Rate Swap Other non-current assets 0.9  0.1 
Total assets $ 1.0  $ 0.2 
Liabilities:
Cross-Currency Rate Swaps Accrued expenses and other current liabilities $ 7.7  $ 10.7 
Cross-Currency Rate Swaps Other non-current liabilities $ 9.5  $ 12.6 
Total liabilities $ 17.2  $ 23.3 
(1) Refer to Note 16, Fair Value Measurements, for additional information related to the estimated fair value.
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The following table summarizes the notional values and pretax impact of changes in the fair values of instruments designated as net investment hedges (in millions):

Notional Amount Gain (Loss) Recognized in AOCL
As of Three Months Ended March 31, 2024 Three Months Ended March 31, 2023
March 31, 2024 December 31, 2023
Cross-currency rate swaps € 238.8  € 238.8  $ 6.2  $ (2.9)
Total € 238.8  € 238.8  $ 6.2  $ (2.9)