v3.24.0.1
Derivatives and Hedging Activities (Tables)
12 Months Ended
Dec. 31, 2023
Not Designated as Hedging Instrument [Member]  
Balance Sheet Location and Fair Value of Company

The following table presents the balance sheet location and fair value of the Company’s derivatives not designated as hedging instruments:

 

 

 

 

December 31,

 

Contract Type

 

Location of Asset (Liability)

 

2023

 

 

2022

 

Foreign currency contracts

 

Prepaid expenses and other current assets

 

$

8.7

 

 

$

9.9

 

Foreign currency contracts

 

Accrued and other liabilities

 

 

(3.6

)

 

 

(6.5

)

Total derivatives not designated as
   hedging instruments

 

 

 

$

5.1

 

 

$

3.4

 

 

Pretax Impact of Foreign Currency Forward Contracts, Both Matured and Outstanding, not Designated as Hedging Instruments

The pretax impact of the foreign currency forward contracts, both matured and outstanding, on the Consolidated Statements of Operations is as follows:

 

 

Year Ended December 31,

 

Location of Gain (Loss)

 

2023

 

 

2022

 

 

2021

 

Other income (expense), net

 

$

2.8

 

 

$

(19.0

)

 

$

(2.6

)

 

Derivative Instruments Designated as Hedging Instrument [Member] | Cash Flow Hedges of Interest Rate Risk [Member]  
Balance Sheet Location and Fair Value of Company

The following table presents the balance sheet location and fair value of the derivative instruments designated as cash flow hedges of interest rate risk:

 

 

 

 

December 31,

 

Contract Type

 

Location of Asset (Liability)

 

2023

 

 

2022

 

Interest rate swap contracts

 

Other noncurrent assets

 

$

—

 

 

$

8.6

 

Interest rate swap contracts

 

Other noncurrent liabilities

 

 

(8.0

)

 

 

—

 

Total derivatives designated as cash
   flow hedging instruments

 

 

 

$

(8.0

)

 

$

8.6

 

Impact of Effective Portion of Derivatives, Designated as Hedging Instruments

The impact of the effective portion of the interest rate swap contracts designated as cash flow hedging instruments on the Consolidated Statements of Comprehensive Loss is as follows:

 

 

Year Ended December 31,

 

Location of Gain (Loss)

 

2023

 

 

2022

 

 

2021

 

Other comprehensive income (loss), net of tax

 

$

(8.2

)

 

$

16.0

 

 

$

14.4