Location and Amount of (Loss) Gain Recognized in Income on Cash Flow Hedging Relationships

Three Months Ended

September 30,
2023

September 30,
2022

Cost of sales

Selling, general, and administrative expenses

Interest expense, net

Cost of sales

Selling, general, and administrative expenses

Interest expense, net

(in millions)

Total amounts presented in the condensed consolidated statements of income

$

303.2

$

455.3

$

38.5

$

285.1

$

448.2

$

34.5

Foreign exchange currency contracts relating to inventory hedges:

Amount of loss reclassified from accumulated other comprehensive loss to income

(1.3

)

—

—

(1.9

)

—

—

Amount of loss excluded from assessment of effectiveness recognized in income

(1.4

)

—

—

(1.4

)

—

—

Foreign exchange currency contracts relating to intercompany management fee hedges:

Amount of gain (loss) reclassified from accumulated other comprehensive loss to income

—

(0.3

)

—

—

0.9

—

Amount of gain excluded from assessment of effectiveness recognized in income

—

0.1

—

—

0.2

—

Interest rate swaps:

Amount of gain reclassified from accumulated other comprehensive loss to income

—

—

—

—

—

0.2

Amount of gain excluded from assessment of effectiveness recognized in income

—

—

—

—

—

—

Location and Amount of (Loss) Gain Recognized in Income on Cash Flow Hedging Relationships

Nine Months Ended

September 30,
2023

September 30,
2022

Cost of sales

Selling, general, and administrative expenses

Interest expense, net

Cost of sales

Selling, general, and administrative expenses

Interest expense, net

(in millions)

Total amounts presented in the condensed consolidated statements of income

$

903.4

$

1,391.7

$

116.3

$

908.0

$

1,373.1

$

95.9

Foreign exchange currency contracts relating to inventory hedges:

Amount of loss reclassified from accumulated other comprehensive loss to income

(5.6

)

—

—

(2.7

)

—

—

Amount of loss excluded from assessment of effectiveness recognized in income

(3.9

)

—

—

(4.2

)

—

—

Foreign exchange currency contracts relating to intercompany management fee hedges:

Amount of gain (loss) reclassified from accumulated other comprehensive loss to income

—

(0.5

)

—

—

1.8

—

Amount of gain excluded from assessment of effectiveness recognized in income

—

0.3

—

—

0.2

—

Interest rate swaps:

Amount of gain reclassified from accumulated other comprehensive loss to income

—

—

0.3

—

—

—

Amount of gain excluded from assessment of effectiveness recognized in income

—

—

—

—

—

—