Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2022	Jul. 20, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-36733
Entity Registrant Name	AXALTA COATING SYSTEMS LTD.
Entity Incorporation, State or Country Code	D0
Entity Tax Identification Number	98-1073028
Entity Address, Address Line One	50 Applied Bank Blvd
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Glen Mills
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19342
City Area Code	855
Local Phone Number	547-1461
Title of 12(b) Security	Common Shares, $1.00 par value
Trading Symbol	AXTA
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		220,548,170
Entity Central Index Key	0001616862
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Net sales	$ 1,234.9	$ 1,126.8	$ 2,409.0	$ 2,190.4
Cost of goods sold	886.4	752.8	1,723.8	1,437.3
Selling, general and administrative expenses	191.7	184.2	385.2	363.3
Other operating charges	4.8	(45.7)	12.5	57.1
Research and development expenses	16.7	15.8	33.1	31.4
Amortization of acquired intangibles	31.7	29.3	64.5	58.3
Income from operations	103.6	190.4	189.9	243.0
Interest expense, net	33.5	33.4	66.1	66.9
Other expense (income), net	7.2	(8.1)	9.0	(8.5)
Income before income taxes	62.9	165.1	114.8	184.6
Provision for income taxes	18.8	38.7	29.8	42.5
Net income	44.1	126.4	85.0	142.1
Less: Net (loss) income attributable to noncontrolling interests	0.0	0.0	(0.6)	0.5
Net income attributable to controlling interests	$ 44.1	$ 126.4	$ 85.6	$ 141.6
Basic net income per share (in dollars per share)	$ 0.20	$ 0.54	$ 0.38	$ 0.61
Diluted net income per share (in dollars per share)	$ 0.20	$ 0.54	$ 0.38	$ 0.60

Condensed Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 44.1	$ 126.4	$ 85.0	$ 142.1
Other comprehensive (loss) income, before tax:
Foreign currency translation adjustments	(81.4)	39.3	(85.3)	1.7
Unrealized gain on derivatives	11.4	6.9	30.9	16.1
Unrealized gain on pension and other benefit plan obligations	0.7	1.3	1.6	2.5
Other comprehensive (loss) income, before tax	(69.3)	47.5	(52.8)	20.3
Income tax provision related to items of other comprehensive income	1.7	1.3	4.7	3.1
Other comprehensive (loss) income, net of tax	(71.0)	46.2	(57.5)	17.2
Total comprehensive income	(26.9)	172.6	27.5	159.3
Less: Comprehensive income attributable to noncontrolling interests	0.8	0.6	0.7	0.9
Comprehensive (loss) income attributable to controlling interests	$ (27.7)	$ 172.0	$ 26.8	$ 158.4

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 500.2	$ 840.6
Restricted cash	10.0	10.6
Accounts and notes receivable, net	1,100.6	937.5
Inventories	799.5	669.7
Prepaid expenses and other current assets	167.7	117.2
Total current assets	2,578.0	2,575.6
Property, plant and equipment, net	1,152.9	1,186.2
Goodwill	1,498.1	1,592.7
Identifiable intangibles, net	1,172.9	1,278.2
Other assets	540.7	584.5
Total assets	6,942.6	7,217.2
Current liabilities:
Accounts payable	746.8	657.4
Current portion of borrowings	61.5	79.7
Other accrued liabilities	525.1	597.8
Total current liabilities	1,333.4	1,334.9
Long-term borrowings	3,706.7	3,749.9
Accrued pensions	246.4	269.3
Deferred income taxes	157.5	174.7
Other liabilities	125.8	149.7
Total liabilities	5,569.8	5,678.5
Commitments and contingent liabilities
Shareholders’ equity:
Common shares, $1.00 par, 1,000.0 shares authorized, 252.3 and 251.8 shares issued at June 30, 2022 and December 31, 2021, respectively	252.3	251.8
Capital in excess of par	1,521.6	1,515.5
Retained earnings	912.8	827.2
Treasury shares, at cost, 31.8 and 24.4 shares at June 30, 2022 and December 31, 2021, respectively	(887.3)	(687.2)
Accumulated other comprehensive loss	(473.2)	(414.4)
Total Axalta shareholders’ equity	1,326.2	1,492.9
Noncontrolling interests	46.6	45.8
Total shareholders’ equity	1,372.8	1,538.7
Total liabilities and shareholders’ equity	$ 6,942.6	$ 7,217.2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares shares in Millions	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 1.00	$ 1.00
Common shares authorized (in shares)	1,000.0	1,000.0
Common shares issued (in shares)	252.3	251.8
Treasury shares, at cost (in shares)	31.8	24.4

Condensed Consolidated Statements of Changes in Shareholders’ Equity (Unaudited) - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Capital In Excess Of Par	Retained Earnings	Treasury Shares, at cost	Accumulated Other Comprehensive Loss	Non controlling Interests
Beginning balance (in shares) at Dec. 31, 2020		234.8
Beginning balance at Dec. 31, 2020	$ 1,479.8	$ 250.9	$ 1,487.1	$ 563.3	$ (443.5)	$ (424.8)	$ 46.8
Comprehensive income:
Net income	15.7			15.2			0.5
Net realized and unrealized gain (loss) on derivatives, net of tax	7.9					7.9
Long-term employee benefit plans, net of tax	0.7					0.7
Foreign currency translation, net of tax	(37.6)					(37.4)	(0.2)
Total comprehensive income	(13.3)			15.2		(28.8)	0.3
Recognition of stock-based compensation	3.6		3.6
Shares issued under compensation plans (in shares)		0.3
Shares issued under compensation plans	0.1	$ 0.3	(0.2)
Common stock purchases (in shares)		(2.3)
Common stock purchases	(63.7)				(63.7)
Dividends declared to noncontrolling interests	(0.7)						(0.7)
Ending balance (in shares) at Mar. 31, 2021		232.8
Ending balance at Mar. 31, 2021	1,405.8	$ 251.2	1,490.5	578.5	(507.2)	(453.6)	46.4
Beginning balance (in shares) at Dec. 31, 2020		234.8
Beginning balance at Dec. 31, 2020	1,479.8	$ 250.9	1,487.1	563.3	(443.5)	(424.8)	46.8
Comprehensive income:
Net income	142.1
Total comprehensive income	159.3
Ending balance (in shares) at Jun. 30, 2021		231.4
Ending balance at Jun. 30, 2021	1,535.3	$ 251.7	1,506.9	704.9	(567.2)	(408.0)	47.0
Beginning balance (in shares) at Mar. 31, 2021		232.8
Beginning balance at Mar. 31, 2021	1,405.8	$ 251.2	1,490.5	578.5	(507.2)	(453.6)	46.4
Comprehensive income:
Net income	126.4			126.4
Net realized and unrealized gain (loss) on derivatives, net of tax	5.9					5.9
Long-term employee benefit plans, net of tax	1.0					1.0
Foreign currency translation, net of tax	39.3					38.7	0.6
Total comprehensive income	172.6			126.4		45.6	0.6
Recognition of stock-based compensation	4.2		4.2
Shares issued under compensation plans (in shares)		0.5
Shares issued under compensation plans	12.7	$ 0.5	12.2
Common stock purchases (in shares)		(1.9)
Common stock purchases	(60.0)				(60.0)
Ending balance (in shares) at Jun. 30, 2021		231.4
Ending balance at Jun. 30, 2021	1,535.3	$ 251.7	1,506.9	704.9	(567.2)	(408.0)	47.0
Beginning balance (in shares) at Dec. 31, 2021		227.4
Beginning balance at Dec. 31, 2021	1,538.7	$ 251.8	1,515.5	827.2	(687.2)	(414.4)	45.8
Comprehensive income:
Net income	40.9			41.5			(0.6)
Net realized and unrealized gain (loss) on derivatives, net of tax	16.9					16.9
Long-term employee benefit plans, net of tax	0.5					0.5
Foreign currency translation, net of tax	(3.9)					(4.4)	0.5
Total comprehensive income	54.4			41.5		13.0	(0.1)
Recognition of stock-based compensation	5.3		5.3
Shares issued under compensation plans (in shares)		0.4
Shares issued under compensation plans	(1.9)	$ 0.4	(2.3)
Changes in ownership of noncontrolling interests	(0.1)		(0.3)				0.2
Common stock purchases (in shares)		(6.4)
Common stock purchases	(175.1)				(175.1)
Dividends declared to noncontrolling interests	(0.1)						(0.1)
Ending balance (in shares) at Mar. 31, 2022		221.4
Ending balance at Mar. 31, 2022	1,421.2	$ 252.2	1,518.2	868.7	(862.3)	(401.4)	45.8
Beginning balance (in shares) at Dec. 31, 2021		227.4
Beginning balance at Dec. 31, 2021	1,538.7	$ 251.8	1,515.5	827.2	(687.2)	(414.4)	45.8
Comprehensive income:
Net income	85.0
Total comprehensive income	$ 27.5
Shares issued under compensation plans (in shares)	0.0
Ending balance (in shares) at Jun. 30, 2022		220.5
Ending balance at Jun. 30, 2022	$ 1,372.8	$ 252.3	1,521.6	912.8	(887.3)	(473.2)	46.6
Beginning balance (in shares) at Mar. 31, 2022		221.4
Beginning balance at Mar. 31, 2022	1,421.2	$ 252.2	1,518.2	868.7	(862.3)	(401.4)	45.8
Comprehensive income:
Net income	44.1			44.1
Net realized and unrealized gain (loss) on derivatives, net of tax	10.0					10.0
Long-term employee benefit plans, net of tax	0.4					0.4
Foreign currency translation, net of tax	(81.4)					(82.2)	0.8
Total comprehensive income	(26.9)			44.1		(71.8)	0.8
Recognition of stock-based compensation	3.7		3.7
Shares issued under compensation plans (in shares)		0.1
Shares issued under compensation plans	(0.2)	$ 0.1	(0.3)
Common stock purchases (in shares)		(1.0)
Common stock purchases	(25.0)				(25.0)
Ending balance (in shares) at Jun. 30, 2022		220.5
Ending balance at Jun. 30, 2022	$ 1,372.8	$ 252.3	$ 1,521.6	$ 912.8	$ (887.3)	$ (473.2)	$ 46.6

Condensed Consolidated Statements of Changes in Shareholders’ Equity (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Gain on derivatives, tax expense	$ 1.4	$ 2.6	$ 1.0	$ 1.3
Long-term employee benefit plans, net of tax expense	0.3	0.4	0.3	0.5
Foreign currency translation, tax expense	$ 0.0	$ 0.0	$ 0.0	$ 0.0

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating activities:
Net income	$ 85.0	$ 142.1
Adjustment to reconcile net income to cash (used for) provided by operating activities:
Depreciation and amortization	155.0	155.4
Amortization of deferred financing costs and original issue discount	4.8	4.2
Deferred income taxes	2.0	5.2
Realized and unrealized foreign exchange losses, net	4.9	9.4
Stock-based compensation	9.0	7.8
Interest income on swaps designated as net investment hedges	(10.0)	(7.1)
Commercial agreement restructuring charge	25.0	0.0
Other non-cash, net	(6.6)	9.4
Changes in operating assets and liabilities:
Trade accounts and notes receivable	(190.1)	(154.2)
Inventories	(151.4)	(59.1)
Prepaid expenses and other assets	(58.9)	(53.4)
Accounts payable	147.5	60.0
Other accrued liabilities	(39.4)	24.5
Other liabilities	(8.5)	2.9
Cash (used for) provided by operating activities	(31.7)	147.1
Investing activities:
Acquisitions, net of cash acquired	0.0	(37.6)
Purchase of property, plant and equipment	(72.0)	(60.3)
Interest proceeds on swaps designated as net investment hedges	10.0	7.1
Settlement proceeds on swaps designated as net investment hedges	25.0	0.0
Other investing activities, net	(1.1)	(0.5)
Cash used for investing activities	(38.1)	(91.3)
Financing activities:
Payments on short-term borrowings	(44.0)	(41.1)
Payments on long-term borrowings	(13.7)	(14.2)
Financing-related costs	(0.1)	(2.5)
Purchases of common stock	(200.1)	(123.7)
Net cash flows associated with stock-based awards	(2.1)
Net cash flows associated with stock-based awards		12.8
Other financing activities, net	(0.2)	(1.2)
Cash used for financing activities	(260.2)	(169.9)
Decrease in cash	(330.0)	(114.1)
Effect of exchange rate changes on cash	(11.0)	(8.4)
Cash at beginning of period	851.2	1,364.0
Cash at end of period	510.2	1,241.5
Cash at end of period reconciliation:
Cash and cash equivalents	500.2	1,230.9
Restricted cash	10.0	10.6
Cash at end of period	$ 510.2	$ 1,241.5

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The interim condensed consolidated financial statements included herein are unaudited. In the opinion of management, these statements include all adjustments, consisting only of normal, recurring adjustments, necessary for a fair statement of the financial position and shareholders' equity of Axalta Coating Systems Ltd., a Bermuda exempted company limited by shares, and its consolidated subsidiaries ("Axalta," the "Company," "we," "our" and "us") at June 30, 2022, the results of operations, comprehensive (loss) income and changes in shareholders' equity for the three and six months ended June 30, 2022 and 2021 and cash flows for the six months then ended. All intercompany balances and transactions have been eliminated. These interim unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. The interim unaudited condensed consolidated financial statements include the accounts of Axalta and its subsidiaries, and entities in which a controlling interest is maintained. Certain of our entities are accounted for on a one-month lag basis, the effect of which is not material. The results of operations for the three and six months ended June 30, 2022 are not necessarily indicative of the results to be expected for a full year. Risks and Uncertainties After experiencing significant impacts to our results of operations, financial condition and cash flows in 2020 from the coronavirus ("COVID-19") pandemic, we have seen a return to more stable quarter-over-quarter demand for our products and services during 2021 and into 2022, though we continue to see impacts to our business given the continued significant presence, and actual or potential spread, of the virus globally, as well as preventative measures enacted in certain regions of the world. We are currently unable to fully determine the future impact of COVID-19 on our business, though we believe the pandemic will continue to have a negative effect on our business during 2022, and potentially longer. We are monitoring the progression of the pandemic and its ongoing and potential effect on our financial position, results of operations, and cash flows, which effects could be materially adverse in a particular quarterly reporting period as well as on an annual basis.

Revenue	6 Months Ended
Revenue	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue	REVENUE Consideration for products in which control has transferred to our customers that is conditional on something other than the passage of time is recorded as a contract asset within prepaid expenses and other current assets on the balance sheet. The contract asset balances at June 30, 2022 and December 31, 2021 were $37.5 million and $36.1 million, respectively. We provide certain customers with incremental up-front consideration, subject to clawback provisions, including Business Incentive Plan assets ("BIPs"), which is capitalized as a component of other assets and amortized over the estimated life of the contractual arrangement as a reduction of net sales. At June 30, 2022 and December 31, 2021, the total carrying value of BIPs were $144.5 million and $151.2 million, respectively, and are presented within other assets in the condensed consolidated balance sheets. For the three and six months ended June 30, 2022 and 2021, $15.4 million, $29.9 million, $13.7 million, and $29.0 million respectively, was amortized and reflected as reductions of net sales in the condensed consolidated statements of operations. The total carrying value of BIPs exclude other up-front incentives with repayment features made in conjunction with long-term customer commitments of $44.5 million and $72.7 million at June 30, 2022 and December 31, 2021, respectively, of which $5.1 million and $12.6 million is included in prepaid expenses and other current assets in the condensed consolidated balance sheets at June 30, 2022 and December 31, 2021, respectively, with the remainder included in other assets. These up-front incentives with repayment features are subject to the credit risk of our customers and, depending on the financial condition of our customers, it is possible that some or all of the amounts may become uncollectible. During the three months ended June 30, 2022, we agreed to forgo collection of a portion of previously provided up-front incentives with a certain Performance Coatings customer, contingent upon this customer completing a recapitalization and restructuring of its indebtedness and executing a new long-term exclusive sales agreement with us. A reserve for this concession was recorded at June 30, 2022 for $25.0 million, of which $20.3 million was recorded as a reduction to revenue. In July 2022, the contingency was resolved and a new long-term exclusive sales agreement went into effect resulting in the forgiveness of the reserved amounts. See Note 17 for disaggregated net sales by end-market.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Acquisitions

6 Months Ended

Jun. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Acquisitions

ACQUISITIONS

Acquisition of U-POL Holdings Limited

On September 15, 2021, we completed the acquisition of U-POL Holdings Limited ("U-POL") for an aggregate purchase price of $619.8 million. The acquisition of U-POL, a leading supplier of paint, protective coatings and accessories primarily for the automotive aftermarket, strengthens Axalta's global refinish leadership position and supports its broader growth strategy. The results of the business are reported within our Performance Coatings segment. The U-POL acquisition was recorded as a business combination under Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 805, Business Combinations, with identifiable assets acquired and liabilities assumed recorded at their estimated fair values as of the acquisition date.

At June 30, 2022, we have not finalized the purchase accounting related to the U-POL acquisition and these amounts represent preliminary values. The allocation of the purchase price may be modified up to one year from the closing date of the acquisition as more information is obtained about the fair value of assets acquired and liabilities assumed. The purchase price was allocated as follows:


	September 15, 2021 (As initially reported)		Measurement Period Adjustments		September 15, 2021 (Adjusted)
Cash	$	23.7	$	—	$	23.7
Accounts and notes receivable, net	22.5		1.8		24.3
Inventories	23.3		—		23.3
Prepaid expenses and other current assets, net	3.2		—		3.2
Property, plant and equipment, net	16.5		(2.2)		14.3
Identifiable intangible assets	273.0		1.0		274.0
Other assets	2.0		0.1		2.1
Accounts payable	(20.9)		(1.8)		(22.7)
Other accrued liabilities	(3.9)		(0.3)		(4.2)
Other liabilities	(0.9)		—		(0.9)
Deferred income taxes	(68.4)		(0.7)		(69.1)
Net assets before goodwill from acquisition	270.1		(2.1)		268.0
Goodwill from acquisition	349.7		2.1		351.8
Net assets acquired	$	619.8	$	—	$	619.8

Goodwill and Identifiable Intangible Assets

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Identifiable Intangible Assets

GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS

Goodwill

The following table shows changes in the carrying amount of goodwill from December 31, 2021 to June 30, 2022 by reportable segment:


	Performance Coatings		Mobility Coatings		Total
Balance at December 31, 2021	$	1,513.4	$	79.3	$	1,592.7
Purchase accounting adjustments	2.3		—		2.3
Foreign currency translation	(92.8)		(4.1)		(96.9)
Balance at June 30, 2022	$	1,422.9	$	75.2	$	1,498.1

Identifiable Intangible Assets

The following tables summarize the gross carrying amounts and accumulated amortization of identifiable intangible assets by major class:


June 30, 2022	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Weighted average amortization periods (years)
Technology	$	552.8	$	(431.8)	$	121.0	10.2
Trademarks—indefinite-lived	253.5		—		253.5		Indefinite
Trademarks—definite-lived	127.0		(46.8)		80.2		14.4
Customer relationships	1,106.1		(388.0)		718.1		19.2
Other	0.6		(0.5)		0.1		5.0
Total	$	2,040.0	$	(867.1)	$	1,172.9


December 31, 2021	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Weighted average amortization periods (years)
Technology	$	575.3	$	(420.9)	$	154.4	10.2
Trademarks—indefinite-lived	266.7		—		266.7		Indefinite
Trademarks—definite-lived	134.5		(43.8)		90.7		14.4
Customer relationships	1,131.8		(366.6)		765.2		19.2
Other	14.5		(13.3)		1.2		5.0
Total	$	2,122.8	$	(844.6)	$	1,278.2

The estimated amortization expense related to the fair value of acquired intangible assets for the remainder of 2022 and each of the succeeding five years is:


Remainder of 2022	$	62.0
2023	87.4
2024	82.7
2025	82.1
2026	81.6
2027	80.6

Restructuring

6 Months Ended

Jun. 30, 2022

Restructuring and Related Activities [Abstract]

Restructuring

RESTRUCTURING

In accordance with the applicable guidance for ASC 712, Nonretirement Postemployment Benefits, we accounted for termination benefits and recognized liabilities when the loss was considered probable that employees were entitled to benefits and the amounts could be reasonably estimated.

During the three and six months ended June 30, 2022 and 2021, we incurred costs for termination benefits of $3.4 million, $5.8 million, $22.5 million and $27.0 million, respectively. The majority of our termination benefits are recorded within other operating charges in the condensed consolidated statements of operations. The remaining payments associated with these actions are expected to be substantially completed within 24 months.

The following table summarizes the activity related to termination benefit reserves and expenses from December 31, 2021 to June 30, 2022:


	2022 Activity
Balance at December 31, 2021	$	57.5
Expenses, net of changes to estimates	5.8
Payments made	(21.9)
Foreign currency translation	(2.6)
Balance at June 30, 2022	$	38.8

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Guarantees We guarantee certain of our customers’ obligations to third parties, whereby any default by our customers on their obligations could force us to make payments to the applicable creditors. At June 30, 2022 and December 31, 2021, we had outstanding bank guarantees of $4.8 million and $5.7 million, respectively. Approximately half of our bank guarantees expire between 2022 and 2036, while the remainder do not have specified expiration dates. We monitor the customer obligations and bank guarantees to evaluate whether we have a liability at the balance sheet date. We did not have any liabilities related to our outstanding bank guarantees recorded at either June 30, 2022 or December 31, 2021. Operational Matter In January 2021, we became aware of an operational matter affecting certain North America Mobility Coatings customer manufacturing sites. The matter involves the use and application of certain of our products in combination with and incorporated within third-party products. The matter occurred over a discrete period during the fourth quarter of 2020. We have concluded that losses from this matter are probable and that a majority of losses would be covered under our insurance policies, subject to deductible and policy limits as defined in our policies. For the three and six months ended June 30, 2022 and June 30, 2021, we recorded expenses of $0.1 million and $0.2 million, benefits of $71.8 million and expenses of $22.6 million, respectively, within other operating charges in the condensed consolidated statements of operations. At June 30, 2022 and December 31, 2021, we had $38.2 million and $52.7 million, respectively, recorded for estimated insurance receivables within accounts and notes receivable, net in the condensed consolidated balance sheets. Liabilities of $43.5 million and $49.7 million are recorded as other accrued liabilities in the condensed consolidated balance sheets at June 30, 2022 and December 31, 2021, respectively. The recorded probable losses remain an estimate and actual costs arising from this matter could be materially lower or higher depending on the actual costs incurred to repair the impacted products as well as the availability of additional insurance coverage. Other We are subject to various pending lawsuits, legal proceedings and other claims in the ordinary course of business, including civil, regulatory and environmental matters. These matters may involve third-party indemnification obligations and/or insurance covering all or part of any potential damage incurred by us. All of these matters are subject to many uncertainties and, accordingly, we cannot determine the ultimate outcome of the proceedings and other claims at this time. The potential effects, if any, on our condensed consolidated financial statements will be recorded in the period in which these matters are probable and estimable. Except as set forth in the "Operational Matter" section above, we believe that any sum we may be required to pay in connection with proceedings or claims in excess of the amounts recorded would likely not have a material adverse effect upon our results of operations, financial conditions or cash flows on a consolidated annual basis but could have a material adverse impact in a particular quarterly reporting period. We are involved in environmental remediation and ongoing compliance activities at several sites. The timing and duration of remediation and ongoing compliance activities are determined on a site by site basis depending on local regulations. The liabilities recorded represent our estimable future remediation costs and other anticipated environmental liabilities. We have not recorded liabilities at sites where a liability is probable, but that a range of loss is not reasonably estimable. We believe that any sum we may be required to pay in connection with environmental remediation matters in excess of the amounts recorded would likely occur over a period of time and would likely not have a material adverse effect upon our results of operations, financial condition or cash flows on a consolidated annual basis but could have a material adverse impact in a particular quarterly reporting period.

Long-term Employee Benefits

6 Months Ended

Jun. 30, 2022

Retirement Benefits [Abstract]

Long-term Employee Benefits

LONG-TERM EMPLOYEE BENEFITS

Components of Net Periodic Benefit Cost

The following table sets forth the components of net periodic benefit costs for the three and six months ended June 30, 2022 and 2021:


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Components of net periodic benefit cost:
Net periodic benefit cost:
Service cost	$	1.6	$	2.0	$	3.3	$	3.8
Interest cost	2.5		1.9		4.9		3.9
Expected return on plan assets	(3.1)		(3.5)		(6.3)		(6.9)
Amortization of actuarial losses, net	0.8		1.3		1.7		2.5
Amortization of prior service cost, net	(0.1)		—		(0.1)		—

Net periodic benefit cost	$	1.7	$	1.7	$	3.5	$	3.3

All non-service components of net periodic benefit cost are recorded in other expense (income), net within the accompanying condensed consolidated statements of operations.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section S99
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (o)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (p)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 70
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI https://asc.fasb.org/topic&trid=2235017

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 60
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (q)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (l)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

Stock-based Compensation

6 Months Ended

Jun. 30, 2022

Share-Based Payment Arrangement [Abstract]

Stock-based Compensation

STOCK-BASED COMPENSATIONDuring the three and six months ended June 30, 2022 and 2021, we recognized expenses of $3.7 million, $9.0 million, $4.2 million and $7.8 million, respectively, in stock-based compensation, which was allocated between costs of goods sold and selling, general and administrative expenses on the condensed consolidated statements of operations. We recognized tax benefits on stock-based compensation of $0.4 million, $1.0 million, $0.9 million and $1.2 million for the three and six months ended June 30, 2022 and 2021, respectively.

2022 Activity

A summary of award activity by type for the six months ended June 30, 2022 is presented below.


Stock Options	Awards (in millions)	Weighted- Average Exercise Price		Aggregate Intrinsic Value (in millions)		Weighted Average Remaining Contractual Life (years)
Outstanding at January 1, 2022	1.4	$	26.30
Granted	—	$	—
Exercised (1)	—	$	7.21
Forfeited / Expired	—	$	—
Outstanding at June 30, 2022	1.4	$	26.33
Vested and expected to vest at March 31, 2022	1.4	$	26.33	$	1.9	4.12
Exercisable at June 30, 2022	1.4	$	26.33	$	1.9	4.12

(1) Activity during the six months ended June 30, 2022 rounds to zero.

At June 30, 2022, there was no unrecognized expense relating to unvested stock options.


Restricted Stock Units	Units (millions)	Weighted Average Fair Value
Outstanding at January 1, 2022	1.1	$	28.85
Granted	0.7	$	28.71
Vested	(0.5)	$	28.63
Forfeited	(0.1)	$	28.87
Outstanding at June 30, 2022	1.2	$	28.87

Tax shortfall expenses on the vesting of restricted stock units during the six months ended June 30, 2022 was $0.1 million.

At June 30, 2022, there was $21.2 million of unamortized expense relating to unvested restricted stock units that is expected to be amortized over a weighted average period of 1.6 years.


Performance Share Units	Units (millions)	Weighted Average Fair Value
Outstanding at January 1, 2022	0.8	$	30.10
Granted	0.4	$	30.61
Vested	(0.1)	$	29.12
Forfeited	(0.2)	$	29.65
Outstanding at June 30, 2022	0.9	$	30.47

Our performance share units allow for participants to vest in more or less than the targeted number of shares granted. Our performance share units are performing below the applicable targets. We currently expect a total of 0.2 million shares with a weighted average fair value per share of $30.33 to vest at the respective vesting dates for such awards. At June 30, 2022, there is $5.2 million of unamortized expense relating to unvested performance share units that is expected to be amortized over a weighted average period of 2.5 years. The forfeitures include performance share units that vested below threshold payout.

Other Expense (Income), Net

6 Months Ended

Jun. 30, 2022

Other Income and Expenses [Abstract]

Other Expense (Income), Net

OTHER EXPENSE (INCOME), NET


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Foreign exchange losses, net	$	4.9	$	1.8	$	7.5	$	3.6


Other miscellaneous expense (income), net (1) (2)	2.3		(9.9)		1.5		(12.1)

Total	$	7.2	$	(8.1)	$	9.0	$	(8.5)

(1) Activity during the three and six months ended June 30, 2022 includes expense of $4.7 million related to a reserve for a customer concession discussed further in Note 2.

(2) Activity during the three and six months ended June 30, 2021 includes income of $8.3 million related to a law change with respect to certain Brazilian indirect taxes.

Income Taxes

6 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

Our effective income tax rates for the six months ended June 30, 2022 and 2021 are as follows:


	Six Months Ended June 30,
	2022		2021
Effective Tax Rate	26.0	%	23.0	%

The higher effective tax rate for the six months ended June 30, 2022 was primarily due to the unfavorable impact of net currency exchange losses in 2022.

The effective tax rate for the six months ended June 30, 2022 differs from the U.S. Federal statutory rate due to various items that impacted the effective rate both favorably and unfavorably. We recorded the unfavorable impact of net currency exchange losses, increase in valuation allowance and increase in unrecognized tax benefits. These adjustments were offset by the favorable adjustments for earnings in jurisdictions where the statutory rate is lower than the U.S. Federal statutory rate.

The Company anticipates that it is reasonably possible it will settle up to $10.6 million, exclusive of interest and penalties, of its current unrecognized tax benefits within the next 12 months due to the expected conclusion of ongoing tax audits.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Net Income Per Common Share

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Net Income Per Common Share

NET INCOME PER COMMON SHARE

Basic net income per common share excludes the dilutive impact of potentially dilutive securities and is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted net income per common share includes the effect of potential dilution from the hypothetical exercise of outstanding stock options and vesting of restricted stock units and performance share units. A reconciliation of our basic and diluted net income per common share is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(In millions, except per share data)	2022		2021		2022		2021
Net income to common shareholders	$	44.1	$	126.4	$	85.6	$	141.6
Basic weighted average shares outstanding	221.0		232.5		222.8		233.2
Diluted weighted average shares outstanding	221.4		233.5		223.3		234.1
Net income per common share:
Basic net income per share	$	0.20	$	0.54	$	0.38	$	0.61
Diluted net income per share	$	0.20	$	0.54	$	0.38	$	0.60

The number of anti-dilutive shares that have been excluded in the computation of diluted net income per share for the three and six months ended June 30, 2022 and 2021 were 1.3 million, 1.2 million, 0.6 million and 1.1 million, respectively.

Accounts and Notes Receivable, Net

6 Months Ended

Jun. 30, 2022

Receivables [Abstract]

Accounts and Notes Receivable, Net

ACCOUNTS AND NOTES RECEIVABLE, NET

Trade accounts receivable are stated at the amount we expect to collect. We maintain allowances for doubtful accounts for estimated losses by applying historical loss percentages, combined with reasonable and supportable forecasts of future losses, to respective aging categories. Management considers the following factors in developing its current estimate of expected credit losses: customer credit-worthiness, past transaction history with the customer, current economic industry trends, changes in market or regulatory matters, changes in geopolitical matters, and changes in customer payment terms, as well as the ongoing impacts from COVID-19 and other macroeconomic factors.


	June 30, 2022		December 31, 2021
Accounts receivable - trade, net (1)	$	944.1	$	760.4
Notes receivable	8.7		24.7
Other (2)	147.8		152.4
Total	$	1,100.6	$	937.5

(1) Allowance for doubtful accounts was $23.8 million and $22.0 million at June 30, 2022 and December 31, 2021, respectively.

(2) Includes $38.2 million and $52.7 million at June 30, 2022 and December 31, 2021, respectively, of insurance recoveries related to the operational matter as discussed further in Note 6.

Bad debt expense of $0.5 million, $0.0 million, $0.2 million, and $0.9 million, was included within selling, general and administrative expenses for the three and six months ended June 30, 2022 and 2021, respectively, and a $1.0 million benefit and a $3.1 million expense related to sanctions imposed on Russia in response to the conflict with Ukraine was included in other operating charges for the three and six months ended June 30, 2022, respectively.

Inventories

6 Months Ended

Jun. 30, 2022

Inventory Disclosure [Abstract]

Inventories

INVENTORIES


	June 30, 2022		December 31, 2021
Finished products	$	395.6	$	355.9
Semi-finished products	131.4		109.7
Raw materials	245.2		180.8
Stores and supplies	27.3		23.3
Total	$	799.5	$	669.7

Inventory reserves were $18.3 million and $15.6 million at June 30, 2022 and December 31, 2021, respectively.

Property, Plant and Equipment, Net

6 Months Ended

Jun. 30, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

PROPERTY, PLANT AND EQUIPMENT, NET


	June 30, 2022		December 31, 2021
Property, plant and equipment	$	2,292.4	$	2,299.4
Accumulated depreciation	(1,139.5)		(1,113.2)
Property, plant, and equipment, net	$	1,152.9	$	1,186.2

Depreciation expense amounted to $29.9 million, $60.0 million, $32.9 million and $64.8 million for the three and six months ended June 30, 2022 and 2021, respectively.

Borrowings

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Borrowings

BORROWINGS

Borrowings are summarized as follows:


	June 30, 2022		December 31, 2021
2024 Dollar Term Loans	$	2,026.7	$	2,038.9


2025 Euro Senior Notes	473.5		508.8
2027 Dollar Senior Notes	500.0		500.0
2029 Dollar Senior Notes	700.0		700.0
Short-term and other borrowings	95.7		113.8
Unamortized original issue discount	(3.7)		(4.6)
Unamortized deferred financing costs	(24.0)		(27.3)
Total borrowings, net	3,768.2		3,829.6
Less:
Short-term borrowings	37.2		55.4
Current portion of long-term borrowings	24.3		24.3
Long-term debt	$	3,706.7	$	3,749.9

Revolving Credit Facility

At June 30, 2022 and December 31, 2021, letters of credit issued under the Revolving Credit Facility totaled $21.2 million and $22.1 million, respectively, which reduced the availability under the Revolving Credit Facility. Availability under the Revolving Credit Facility was $528.8 million and $527.9 million at June 30, 2022 and December 31, 2021, respectively.

Supplier financing arrangements

We have a financing program in China which is utilized to finance the purchases of goods and services from our suppliers through local banking institutions. The payment terms under the financing program vary, but the program has a weighted average maturity date that approximates 90 days. These financing arrangements are included in current portion of borrowings within the consolidated balance sheets and at the time of issuance each transaction is treated as a non-cash financing activity within the consolidated statements of cash flows. Upon settlement of the financing, the cash outflow is classified as a financing activity within the consolidated statements of cash flows. Amounts outstanding under this program were $7.9 million and $12.6 million at June 30, 2022 and 2021, respectively, including $0.4 million and $1.6 million, respectively, related to purchases of property, plant and equipment. Cash outflows under this program were $19.9 million, $44.0 million, $17.2 million and $30.9 million for the three and six months ended June 30, 2022 and 2021, respectively.

Future repayments

Below is a schedule of required future repayments of all borrowings outstanding at June 30, 2022.


Remainder of 2022	$	47.8
2023	27.4
2024	1,993.5
2025	476.8
2026	3.5
Thereafter	1,246.9
Total borrowings	3,795.9
Unamortized original issue discount	(3.7)
Unamortized deferred financing costs	(24.0)
Total borrowings, net	$	3,768.2

Financial Instruments, Hedging Activities and Fair Value Measurements

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Financial Instruments, Hedging Activities and Fair Value Measurements

FINANCIAL INSTRUMENTS, HEDGING ACTIVITIES AND FAIR VALUE MEASUREMENTS

Fair value of financial instruments

Equity securities with readily determinable fair values - Balances of equity securities are recorded within other assets, with any changes in fair value recorded within other expense (income), net. The fair values of equity securities are based upon quoted market prices, which are considered Level 1 inputs.

Long-term borrowings - The estimated fair values of these borrowings are based on recent trades, as reported by a third-party pricing service. Due to the infrequency of trades, these inputs are considered to be Level 2 inputs.

Derivative instruments - The Company’s interest rate caps, interest rate swaps, cross-currency swaps, and foreign currency forward contracts are valued using broker quotations, or market transactions in either the listed or over-the-counter markets. As such, these derivative instruments are included in the Level 2 hierarchy.

Fair value of contingent consideration

The fair value of contingent consideration associated with an acquisition completed in the year is valued at each balance sheet date, until amounts become payable, with adjustments recorded within other expense (income), net in the condensed consolidated statements of operations. During April 2021, in conjunction with an acquisition in China, we recorded the fair value of contingent consideration of $7.3 million. As of June 30, 2022, the contingent consideration had increased to $7.5 million as a result of accretion for the passage of time and currency translation. The contingent consideration was valued using a probability-weighted expected payment method. The analysis considered the timing of expected future cash flows and the probability of whether key elements of the contingent event are completed. Due to the significant unobservable inputs used in the valuations, these liabilities are categorized within Level 3 of the fair value hierarchy.

The table below presents the fair values of our financial instruments measured on a recurring basis by level within the fair value hierarchy at June 30, 2022 and December 31, 2021.


	June 30, 2022								December 31, 2021
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Prepaid expenses and other current assets:

Interest rate swaps (1)	$	—	$	4.5	$	—	$	4.5	$	—	$	—	$	—	$	—
Cross-currency swaps (2)	—		40.5		—		40.5		—		17.7		—		17.7
Foreign currency forward contracts (1)	—		0.1		—		0.1		—		—		—		—
Other assets:


Cross-currency swaps (2)	—		10.4		—		10.4		—		8.3		—		8.3
Investments in equity securities	0.6		—		—		0.6		0.7		—		—		0.7
Liabilities:
Other accrued liabilities:

Interest rate swaps (1)	—		—		—		—		—		24.3		—		24.3

Contingent consideration	—		—		7.5		7.5		—		—		7.8		7.8
Other liabilities:

Interest rate swaps (1)	—		—		—		—		—		1.9		—		1.9


Long-term borrowings:
2024 Dollar Term Loans	—		1,984.1		—		1,984.1		—		2,038.5		—		2,038.5
2025 Euro Senior Notes	—		428.6		—		428.6		—		513.7		—		513.7
2027 Dollar Senior Notes	—		447.7		—		447.7		—		522.9		—		522.9
2029 Dollar Senior Notes	—		569.1		—		569.1		—		679.5		—		679.5

(1) Cash flow hedge

(2) Net investment hedge

The table below presents a roll forward of activity for the Level 3 liabilities during the three and six months ended June 30, 2022.


	Fair Value Using Significant Unobservable Inputs (Level 3)
Beginning balance December 31, 2021	$	7.8
Change in fair value	—
Ending balance at March 31, 2022	7.8
Change in fair value	(0.3)



Ending balance at June 30, 2022	$	7.5

Derivative Financial Instruments

We selectively use derivative instruments to reduce market risk associated with changes in foreign currency exchange rates and interest rates. The use of derivatives is intended for hedging purposes only, and we do not enter into derivative instruments for speculative purposes.

Certain derivative instruments in use are contingent upon changes in LIBOR, which is the subject of recent reform and will cease being published in June 2023. The derivative instruments under LIBOR terms that we are currently party to will either mature before June 2023 or the agreements contain transitional language to a different reference rate.

Derivative Instruments Qualifying and Designated as Cash Flow and Net Investment Hedges

Cross-Currency Swaps Designated as Net Investment Hedges

During the three months ended March 31, 2022, we settled two fixed-for-fixed cross-currency swaps with an aggregate notional amount totaling €335.0 million, previously executed in 2020, resulting in cash proceeds of $25.0 million. Concurrently, we entered into two fixed-for-fixed cross-currency swaps with an aggregate notional amount totaling €335.0 million to hedge the variability of exchange rate impacts between the U.S. Dollar and Euro. Under the terms of the new cross-currency swap agreements, the Company notionally exchanged $365.5 million at a weighted average interest rate of 3.375% for €335.0 million at a weighted average interest rate of 2.04%. The cross-currency swaps are designated as net investment hedges and expire on February 15, 2029. These cross-currency swaps are marked to market at each reporting date and any unrealized gains or losses are included in unrealized currency translation adjustments, within accumulated other comprehensive loss ("AOCI").

Foreign Currency Forward Contracts Designated as Cash Flow Hedges

During the three months ended March 31, 2022, we designated foreign currency forward contracts with a notional value of $3.0 million as cash flow hedges of the Company’s exposure to variability in exchange rates on forecasted purchases of inventory denominated in foreign currencies. These forward currency contracts are marked to market at each reporting date and any unrealized gains or losses are included in AOCI and reclassified to cost of goods sold in the same period or periods during which the hedged transactions affect earnings.

The following table presents the fair values of derivative instruments that qualify and have been designated as cash flow and net investment hedges included in AOCI:


	June 30, 2022		December 31, 2021
AOCI:

Interest rate swaps (cash flow hedges)	$	(4.5)	$	26.3
Foreign currency forward contracts (cash flow hedges)	(0.1)		—
Cross-currency swaps (net investment hedges)	(75.5)		(26.0)
Total AOCI	$	(80.1)	$	0.3

Gains and losses on the derivative representing hedge components excluded from the assessment of effectiveness are recognized over the life of the hedge on a systematic and rational basis.

The following tables set forth the locations and amounts recognized during the three and six months ended June 30, 2022 and 2021 for these cash flow and net investment hedges.


		For the Three Months Ended June 30,
		2022				2021
Derivatives in Cash Flow and Net Investment Hedges	Location of Loss (Gain) Recognized in Income on Derivatives	Net Amount of Gain Recognized in OCI on Derivatives		Amount of Loss (Gain) Recognized in Income		Net Amount of Loss (Gain) Recognized in OCI on Derivatives		Amount of Loss (Gain) Recognized in Income
Interest rate caps	Interest expense, net	$	—	$	—	$	—	$	0.6
Interest rate swaps	Interest expense, net	(6.9)		4.4		0.9		7.2
Foreign currency forward contracts	Cost of goods sold	(0.1)		—		0.1		0.1
Cross-currency swaps	Interest expense, net	(53.8)		(5.1)		(0.3)		(4.7)


		For the Six Months Ended June 30,
		2022				2021
Derivatives in Cash Flow and Net Investment Hedges	Location of Loss (Gain) Recognized in Income on Derivatives	Net Amount of Gain Recognized in OCI on Derivatives		Amount of Loss (Gain) Recognized in Income		Net Amount of Loss (Gain) Recognized in OCI on Derivatives		Amount of Loss (Gain) Recognized in Income
Interest rate caps	Interest expense, net	$	—	$	—	$	—	$	1.2
Interest rate swaps	Interest expense, net	(19.3)		11.5		(0.6)		14.2
Foreign currency forward contracts	Cost of goods sold	(0.1)		—		—		0.1
Cross-currency swaps	Interest expense, net	(59.4)		(9.9)		(29.9)		(9.5)

Over the next 12 months, we expect a gain of $4.6 million pertaining to cash flow hedges to be reclassified from AOCI into earnings, related to our interest rate swaps and foreign currency forward contracts.

Derivative Instruments Not Designated as Cash Flow Hedges

We periodically enter into foreign currency forward and option contracts to reduce market risk and hedge our balance sheet exposures and cash flows for subsidiaries with exposures denominated in currencies different from the functional currency of the relevant subsidiary. These contracts have not been designated as hedges and all gains and losses are marked to market through other expense (income), net in the condensed consolidated statements of operations.

Fair value gains and losses of derivative contracts, as determined using Level 2 inputs, that have not been designated for hedge accounting treatment under ASC 815, Derivatives and hedging, are recorded in earnings as follows:


Derivatives Not Designated as Hedging Instruments under ASC 815	Location of Loss (Gain) Recognized in Income on Derivatives	Three Months Ended June 30,				Six Months Ended June 30,
		2022		2021		2022		2021

Foreign currency forward contracts	Other expense (income), net	$	2.3	$	0.9	$	2.6	$	(5.9)

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Segments

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Segments

SEGMENTS

The Company identifies an operating segment as a component: (i) that engages in business activities from which it may earn revenues and incur expenses; (ii) whose operating results are regularly reviewed by the Chief Operating Decision Maker ("CODM") to make decisions about resources to be allocated to the segment and assess its performance; and (iii) that has available discrete financial information.

We have two operating segments, which are also our reportable segments: Performance Coatings and Mobility Coatings. The CODM reviews financial information at the operating segment level to allocate resources and to assess the operating results and financial performance for each operating segment. Our CODM is identified as the Chief Executive Officer because he has final authority over performance assessment and resource allocation decisions. Our segments are based on the type and concentration of customers served, service requirements, methods of distribution and major product lines.

Through our Performance Coatings segment, we provide high-quality liquid and powder coatings solutions to a fragmented and local customer base. We are one of only a few suppliers with the technology to provide precise color matching and highly durable coatings systems. The end-markets within this segment are refinish and industrial.

Through our Mobility Coatings segment, we provide coatings technologies while focusing on supporting the accelerating demand for e-mobility and the evolving coatings needs of established and emerging light and commercial vehicle OEMs, fleet owners and shared mobility providers. These global customers are faced with evolving megatrends in sustainability, personalization and autonomous driving that require a high level of technical support coupled with productive, environmentally responsible coatings systems that can be applied with a high degree of precision, consistency and speed. The end-markets within this segment are light vehicle and commercial vehicle.

Adjusted EBIT is the primary measure to evaluate financial performance of the operating segments and allocate resources. Asset information is not reviewed or included with our internal management reporting. Therefore, the Company has not disclosed asset information for each reportable segment. The following table presents relevant information of our reportable segments.


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Net sales (1):
Refinish	$	491.1	$	463.1	$	952.5	$	862.1
Industrial	364.7		342.7		717.7		651.0
Total Net sales Performance Coatings	855.8		805.8		1,670.2		1,513.1
Light Vehicle	282.9		243.9		558.5		522.8
Commercial Vehicle	96.2		77.1		180.3		154.5
Total Net sales Mobility Coatings	379.1		321.0		738.8		677.3
Total Net sales	$	1,234.9	$	1,126.8	$	2,409.0	$	2,190.4
Depreciation and amortization expense (2):
Performance Coatings	$	57.7	$	56.4	$	115.7	$	110.4
Mobility Coatings	19.6		22.6		39.3		45.0
Total Depreciation and amortization expense	$	77.3	$	79.0	$	155.0	$	155.4

(1)The Company has no intercompany sales between segments.

(2)Depreciation and amortization expenses relating to assets used within the operations of a specifically identifiable segment are recorded to the appropriate segment, while depreciation and amortization expenses relating to assets shared in our integrated supply chain are allocated to the appropriate segments on a consistent basis reflecting their use.

The following table reconciles our segment operating performance to income before income taxes for the periods presented:


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Segment Adjusted EBIT (1):
Performance Coatings	$	125.2	$	139.7	$	219.8	$	256.9
Mobility Coatings	2.3		5.7		2.8		44.9
Total (2)	127.5		145.4		222.6		301.8
Interest expense, net	33.5		33.4		66.1		66.9

Termination benefits and other employee related costs (a)	2.7		22.7		5.1		25.5
Strategic review and retention costs (b)	—		2.2		—		7.6
Acquisition and divestiture-related costs (c)	2.2		1.5		2.6		1.7


Accelerated depreciation and site closure costs (d)	1.8		0.5		3.1		1.1


Operational matter (e)	0.1		(71.8)		0.2		22.6
Brazil indirect tax (f)	—		(8.3)		—		(8.3)

Russia sanction-related impacts (g)	0.3		—		6.1		—
Commercial agreement restructuring impacts (h)	25.0		—		25.0		—
Other adjustments (i)	(1.0)		0.1		(0.4)		0.1
Income before income taxes	$	62.9	$	165.1	$	114.8	$	184.6


(1)			The primary measure of segment operating performance is Adjusted EBIT, which is defined as net income before interest, taxes and select other items impacting operating results. These other items impacting operating results are items that management has concluded are (1) non-cash items included within net income, (2) items the Company does not believe are indicative of ongoing operating performance or (3) non-recurring, unusual or infrequent items that have not occurred within the last two years or we believe are not reasonably likely to recur within the next two years. Adjusted EBIT is a key metric that is used by management to evaluate business performance in comparison to budgets, forecasts and prior year financial results, providing a measure that management believes reflects the Company's core operating performance, which represents Adjusted EBIT adjusted for the select items referred to above.

(2)			Does not represent Adjusted EBIT referenced elsewhere by the Company as there are additional adjustments that are not allocated to the segments.



(a)			Represents expenses and associated changes to estimates related to employee termination benefits and other employee-related costs. Employee termination benefits are primarily associated with Axalta Way initiatives. These amounts are not considered indicative of our ongoing operating performance.

(b)			Represents costs for legal, tax and other advisory fees pertaining to our review of strategic alternatives that was concluded in March 2020, as well as retention awards for certain employees that were earned over a period of 18-24 months, which ended in September 2021. These amounts are not considered indicative of our ongoing performance.

(c)			Represents acquisition and divestiture-related expenses and integration activities associated with our business combinations, all of which are not considered indicative of our ongoing operating performance.





(d)			Represents incremental depreciation expense resulting from truncated useful lives of the assets impacted by our manufacturing footprint assessments and costs related to the closure of certain manufacturing sites, which we do not consider indicative of our ongoing operating performance.



(e)			Represents expenses, changes in estimates and insurance recoveries for probable liabilities related to an operational matter in the Mobility Coatings segment discussed further in Note 6, which we do not consider indicative of our ongoing operating performance.

(f)			Represents non-recurring income related to a law change with respect to certain Brazilian indirect taxes which was recorded within other expense (income), net.





(g)			Represents expenses related to sanctions imposed on Russia in response to the conflict with Ukraine as a result of incremental reserves for accounts receivable, incremental inventory obsolescence and business incentive payments, which we do not consider indicative of our ongoing operating performance.

(h)			Represents a forgiveness of a portion of up-front customer incentives with repayment features, contingent upon our customer completing a recapitalization and restructuring of its indebtedness and the execution of a new long-term exclusive sales agreement with us. These amounts are not considered to be indicative of our ongoing operating performance.

(i)			Represents costs for certain non-operational or non-cash (gains) and losses, unrelated to our core business and which we do not consider indicative of ongoing operations.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI https://asc.fasb.org/topic&trid=2134510

+ Details

Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Accumulated Other Comprehensive Loss

ACCUMULATED OTHER COMPREHENSIVE LOSS


	Unrealized Currency Translation Adjustments		Pension Adjustments		Unrealized (Loss) Gain on Derivatives		Accumulated Other Comprehensive (Loss) Income
Balance, December 31, 2021	$	(331.3)	$	(60.4)	$	(22.7)	$	(414.4)
Current year deferrals to AOCI	0.4		—		10.8		11.2
Reclassifications from AOCI to Net income	(4.8)		0.5		6.1		1.8
Net Change	(4.4)		0.5		16.9		13.0
Balance, March 31, 2022	(335.7)		(59.9)		(5.8)		(401.4)
Current year deferrals to AOCI	(77.1)		—		6.1		(71.0)
Reclassifications from AOCI to Net income	(5.1)		0.4		3.9		(0.8)
Net Change	(82.2)		0.4		10.0		(71.8)
Balance, June 30, 2022	$	(417.9)	$	(59.5)	$	4.2	$	(473.2)

The cumulative income tax benefit related to the adjustments for pension benefit at June 30, 2022 was $24.1 million. The cumulative income tax expense related to the adjustments for unrealized loss on derivatives at June 30, 2022 was $0.4 million. See Note 16 for classification within the consolidated statements of operations of the gains and losses on derivatives reclassified from AOCI.


	Unrealized Currency Translation Adjustments		Pension Adjustments		Unrealized (Loss) Gain on Derivatives		Accumulated Other Comprehensive (Loss) Income
Balance, December 31, 2020	$	(282.0)	$	(88.7)	$	(54.1)	$	(424.8)
Current year deferrals to AOCI	(32.6)		—		1.3		(31.3)
Reclassifications from AOCI to Net income	(4.8)		0.7		6.6		2.5
Net Change	(37.4)		0.7		7.9		(28.8)
Balance, March 31, 2021	(319.4)		(88.0)		(46.2)		(453.6)
Current year deferrals to AOCI	43.4		—		(0.8)		42.6
Reclassifications from AOCI to Net income	(4.7)		1.0		6.7		3.0
Net Change	38.7		1.0		5.9		45.6
Balance, June 30, 2021	$	(280.7)	$	(87.0)	$	(40.3)	$	(408.0)

The cumulative income tax benefit related to the adjustments for pension benefits at June 30, 2021 was $32.7 million. The cumulative income tax benefit related to the adjustments for unrealized loss on derivatives at June 30, 2021 was $6.5 million. See Note 16 for classification within the consolidated statements of operations of the gains and losses on derivatives reclassified from AOCI.

Acquisitions (Tables)

6 Months Ended

Jun. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Assets Acquired and Liabilities Assumed

The purchase price was allocated as follows:


	September 15, 2021 (As initially reported)		Measurement Period Adjustments		September 15, 2021 (Adjusted)
Cash	$	23.7	$	—	$	23.7
Accounts and notes receivable, net	22.5		1.8		24.3
Inventories	23.3		—		23.3
Prepaid expenses and other current assets, net	3.2		—		3.2
Property, plant and equipment, net	16.5		(2.2)		14.3
Identifiable intangible assets	273.0		1.0		274.0
Other assets	2.0		0.1		2.1
Accounts payable	(20.9)		(1.8)		(22.7)
Other accrued liabilities	(3.9)		(0.3)		(4.2)
Other liabilities	(0.9)		—		(0.9)
Deferred income taxes	(68.4)		(0.7)		(69.1)
Net assets before goodwill from acquisition	270.1		(2.1)		268.0
Goodwill from acquisition	349.7		2.1		351.8
Net assets acquired	$	619.8	$	—	$	619.8

Goodwill and Identifiable Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table shows changes in the carrying amount of goodwill from December 31, 2021 to June 30, 2022 by reportable segment:


	Performance Coatings		Mobility Coatings		Total
Balance at December 31, 2021	$	1,513.4	$	79.3	$	1,592.7
Purchase accounting adjustments	2.3		—		2.3
Foreign currency translation	(92.8)		(4.1)		(96.9)
Balance at June 30, 2022	$	1,422.9	$	75.2	$	1,498.1

Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class

The following tables summarize the gross carrying amounts and accumulated amortization of identifiable intangible assets by major class:


June 30, 2022	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Weighted average amortization periods (years)
Technology	$	552.8	$	(431.8)	$	121.0	10.2
Trademarks—indefinite-lived	253.5		—		253.5		Indefinite
Trademarks—definite-lived	127.0		(46.8)		80.2		14.4
Customer relationships	1,106.1		(388.0)		718.1		19.2
Other	0.6		(0.5)		0.1		5.0
Total	$	2,040.0	$	(867.1)	$	1,172.9


December 31, 2021	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Weighted average amortization periods (years)
Technology	$	575.3	$	(420.9)	$	154.4	10.2
Trademarks—indefinite-lived	266.7		—		266.7		Indefinite
Trademarks—definite-lived	134.5		(43.8)		90.7		14.4
Customer relationships	1,131.8		(366.6)		765.2		19.2
Other	14.5		(13.3)		1.2		5.0
Total	$	2,122.8	$	(844.6)	$	1,278.2

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The estimated amortization expense related to the fair value of acquired intangible assets for the remainder of 2022 and each of the succeeding five years is:


Remainder of 2022	$	62.0
2023	87.4
2024	82.7
2025	82.1
2026	81.6
2027	80.6

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 55
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

Restructuring (Tables)

6 Months Ended

Jun. 30, 2022

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

The following table summarizes the activity related to termination benefit reserves and expenses from December 31, 2021 to June 30, 2022:


	2022 Activity
Balance at December 31, 2021	$	57.5
Expenses, net of changes to estimates	5.8
Payments made	(21.9)
Foreign currency translation	(2.6)
Balance at June 30, 2022	$	38.8

Long-term Employee Benefits (Tables)

6 Months Ended

Jun. 30, 2022

Retirement Benefits [Abstract]

Schedule of Net Benefit Costs

The following table sets forth the components of net periodic benefit costs for the three and six months ended June 30, 2022 and 2021:


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Components of net periodic benefit cost:
Net periodic benefit cost:
Service cost	$	1.6	$	2.0	$	3.3	$	3.8
Interest cost	2.5		1.9		4.9		3.9
Expected return on plan assets	(3.1)		(3.5)		(6.3)		(6.9)
Amortization of actuarial losses, net	0.8		1.3		1.7		2.5
Amortization of prior service cost, net	(0.1)		—		(0.1)		—

Net periodic benefit cost	$	1.7	$	1.7	$	3.5	$	3.3

Stock-based Compensation (Tables)

6 Months Ended

Jun. 30, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Options Roll Forward

A summary of award activity by type for the six months ended June 30, 2022 is presented below.


Stock Options	Awards (in millions)	Weighted- Average Exercise Price		Aggregate Intrinsic Value (in millions)		Weighted Average Remaining Contractual Life (years)
Outstanding at January 1, 2022	1.4	$	26.30
Granted	—	$	—
Exercised (1)	—	$	7.21
Forfeited / Expired	—	$	—
Outstanding at June 30, 2022	1.4	$	26.33
Vested and expected to vest at March 31, 2022	1.4	$	26.33	$	1.9	4.12
Exercisable at June 30, 2022	1.4	$	26.33	$	1.9	4.12

(1) Activity during the six months ended June 30, 2022 rounds to zero.

Schedule of Restricted Stock Units and Restricted Stock Awards Roll Forward


Restricted Stock Units	Units (millions)	Weighted Average Fair Value
Outstanding at January 1, 2022	1.1	$	28.85
Granted	0.7	$	28.71
Vested	(0.5)	$	28.63
Forfeited	(0.1)	$	28.87
Outstanding at June 30, 2022	1.2	$	28.87

Schedule of Performance Stock Roll Forward


Performance Share Units	Units (millions)	Weighted Average Fair Value
Outstanding at January 1, 2022	0.8	$	30.10
Granted	0.4	$	30.61
Vested	(0.1)	$	29.12
Forfeited	(0.2)	$	29.65
Outstanding at June 30, 2022	0.9	$	30.47

Other Expense (Income), Net (Tables)

6 Months Ended

Jun. 30, 2022

Other Income and Expenses [Abstract]

Schedule of Other Income, Net


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Foreign exchange losses, net	$	4.9	$	1.8	$	7.5	$	3.6


Other miscellaneous expense (income), net (1) (2)	2.3		(9.9)		1.5		(12.1)

Total	$	7.2	$	(8.1)	$	9.0	$	(8.5)

(1) Activity during the three and six months ended June 30, 2022 includes expense of $4.7 million related to a reserve for a customer concession discussed further in Note 2.

(2) Activity during the three and six months ended June 30, 2021 includes income of $8.3 million related to a law change with respect to certain Brazilian indirect taxes.

Income Taxes (Tables)

6 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

Our effective income tax rates for the six months ended June 30, 2022 and 2021 are as follows:


	Six Months Ended June 30,
	2022		2021
Effective Tax Rate	26.0	%	23.0	%

Net Income Per Common Share (Tables)

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

A reconciliation of our basic and diluted net income per common share is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(In millions, except per share data)	2022		2021		2022		2021
Net income to common shareholders	$	44.1	$	126.4	$	85.6	$	141.6
Basic weighted average shares outstanding	221.0		232.5		222.8		233.2
Diluted weighted average shares outstanding	221.4		233.5		223.3		234.1
Net income per common share:
Basic net income per share	$	0.20	$	0.54	$	0.38	$	0.61
Diluted net income per share	$	0.20	$	0.54	$	0.38	$	0.60

Accounts and Notes Receivable, Net (Tables)

6 Months Ended

Jun. 30, 2022

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable


	June 30, 2022		December 31, 2021
Accounts receivable - trade, net (1)	$	944.1	$	760.4
Notes receivable	8.7		24.7
Other (2)	147.8		152.4
Total	$	1,100.6	$	937.5

(1) Allowance for doubtful accounts was $23.8 million and $22.0 million at June 30, 2022 and December 31, 2021, respectively.

(2) Includes $38.2 million and $52.7 million at June 30, 2022 and December 31, 2021, respectively, of insurance recoveries related to the operational matter as discussed further in Note 6.

Inventories (Tables)

6 Months Ended

Jun. 30, 2022

Inventory Disclosure [Abstract]

Schedule of Inventory, Current


	June 30, 2022		December 31, 2021
Finished products	$	395.6	$	355.9
Semi-finished products	131.4		109.7
Raw materials	245.2		180.8
Stores and supplies	27.3		23.3
Total	$	799.5	$	669.7

Property, Plant and Equipment, Net (Tables)

6 Months Ended

Jun. 30, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment


	June 30, 2022		December 31, 2021
Property, plant and equipment	$	2,292.4	$	2,299.4
Accumulated depreciation	(1,139.5)		(1,113.2)
Property, plant, and equipment, net	$	1,152.9	$	1,186.2

Borrowings (Tables)

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Schedule of Debt

Borrowings are summarized as follows:


	June 30, 2022		December 31, 2021
2024 Dollar Term Loans	$	2,026.7	$	2,038.9


2025 Euro Senior Notes	473.5		508.8
2027 Dollar Senior Notes	500.0		500.0
2029 Dollar Senior Notes	700.0		700.0
Short-term and other borrowings	95.7		113.8
Unamortized original issue discount	(3.7)		(4.6)
Unamortized deferred financing costs	(24.0)		(27.3)
Total borrowings, net	3,768.2		3,829.6
Less:
Short-term borrowings	37.2		55.4
Current portion of long-term borrowings	24.3		24.3
Long-term debt	$	3,706.7	$	3,749.9

Schedule of Maturities of Long-term Debt

Below is a schedule of required future repayments of all borrowings outstanding at June 30, 2022.


Remainder of 2022	$	47.8
2023	27.4
2024	1,993.5
2025	476.8
2026	3.5
Thereafter	1,246.9
Total borrowings	3,795.9
Unamortized original issue discount	(3.7)
Unamortized deferred financing costs	(24.0)
Total borrowings, net	$	3,768.2

Financial Instruments, Hedging Activities and Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The table below presents the fair values of our financial instruments measured on a recurring basis by level within the fair value hierarchy at June 30, 2022 and December 31, 2021.


	June 30, 2022								December 31, 2021
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Prepaid expenses and other current assets:

Interest rate swaps (1)	$	—	$	4.5	$	—	$	4.5	$	—	$	—	$	—	$	—
Cross-currency swaps (2)	—		40.5		—		40.5		—		17.7		—		17.7
Foreign currency forward contracts (1)	—		0.1		—		0.1		—		—		—		—
Other assets:


Cross-currency swaps (2)	—		10.4		—		10.4		—		8.3		—		8.3
Investments in equity securities	0.6		—		—		0.6		0.7		—		—		0.7
Liabilities:
Other accrued liabilities:

Interest rate swaps (1)	—		—		—		—		—		24.3		—		24.3

Contingent consideration	—		—		7.5		7.5		—		—		7.8		7.8
Other liabilities:

Interest rate swaps (1)	—		—		—		—		—		1.9		—		1.9


Long-term borrowings:
2024 Dollar Term Loans	—		1,984.1		—		1,984.1		—		2,038.5		—		2,038.5
2025 Euro Senior Notes	—		428.6		—		428.6		—		513.7		—		513.7
2027 Dollar Senior Notes	—		447.7		—		447.7		—		522.9		—		522.9
2029 Dollar Senior Notes	—		569.1		—		569.1		—		679.5		—		679.5

(1) Cash flow hedge

(2) Net investment hedge

Schedule of Fair Value, Liability Activity

The table below presents a roll forward of activity for the Level 3 liabilities during the three and six months ended June 30, 2022.


	Fair Value Using Significant Unobservable Inputs (Level 3)
Beginning balance December 31, 2021	$	7.8
Change in fair value	—
Ending balance at March 31, 2022	7.8
Change in fair value	(0.3)



Ending balance at June 30, 2022	$	7.5

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table presents the fair values of derivative instruments that qualify and have been designated as cash flow and net investment hedges included in AOCI:


	June 30, 2022		December 31, 2021
AOCI:

Interest rate swaps (cash flow hedges)	$	(4.5)	$	26.3
Foreign currency forward contracts (cash flow hedges)	(0.1)		—
Cross-currency swaps (net investment hedges)	(75.5)		(26.0)
Total AOCI	$	(80.1)	$	0.3

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following tables set forth the locations and amounts recognized during the three and six months ended June 30, 2022 and 2021 for these cash flow and net investment hedges.


		For the Three Months Ended June 30,
		2022				2021
Derivatives in Cash Flow and Net Investment Hedges	Location of Loss (Gain) Recognized in Income on Derivatives	Net Amount of Gain Recognized in OCI on Derivatives		Amount of Loss (Gain) Recognized in Income		Net Amount of Loss (Gain) Recognized in OCI on Derivatives		Amount of Loss (Gain) Recognized in Income
Interest rate caps	Interest expense, net	$	—	$	—	$	—	$	0.6
Interest rate swaps	Interest expense, net	(6.9)		4.4		0.9		7.2
Foreign currency forward contracts	Cost of goods sold	(0.1)		—		0.1		0.1
Cross-currency swaps	Interest expense, net	(53.8)		(5.1)		(0.3)		(4.7)


		For the Six Months Ended June 30,
		2022				2021
Derivatives in Cash Flow and Net Investment Hedges	Location of Loss (Gain) Recognized in Income on Derivatives	Net Amount of Gain Recognized in OCI on Derivatives		Amount of Loss (Gain) Recognized in Income		Net Amount of Loss (Gain) Recognized in OCI on Derivatives		Amount of Loss (Gain) Recognized in Income
Interest rate caps	Interest expense, net	$	—	$	—	$	—	$	1.2
Interest rate swaps	Interest expense, net	(19.3)		11.5		(0.6)		14.2
Foreign currency forward contracts	Cost of goods sold	(0.1)		—		—		0.1
Cross-currency swaps	Interest expense, net	(59.4)		(9.9)		(29.9)		(9.5)

Derivatives Not Designated as Hedging Instruments

Fair value gains and losses of derivative contracts, as determined using Level 2 inputs, that have not been designated for hedge accounting treatment under ASC 815, Derivatives and hedging, are recorded in earnings as follows:


Derivatives Not Designated as Hedging Instruments under ASC 815	Location of Loss (Gain) Recognized in Income on Derivatives	Three Months Ended June 30,				Six Months Ended June 30,
		2022		2021		2022		2021

Foreign currency forward contracts	Other expense (income), net	$	2.3	$	0.9	$	2.6	$	(5.9)

Segments (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table presents relevant information of our reportable segments.


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Net sales (1):
Refinish	$	491.1	$	463.1	$	952.5	$	862.1
Industrial	364.7		342.7		717.7		651.0
Total Net sales Performance Coatings	855.8		805.8		1,670.2		1,513.1
Light Vehicle	282.9		243.9		558.5		522.8
Commercial Vehicle	96.2		77.1		180.3		154.5
Total Net sales Mobility Coatings	379.1		321.0		738.8		677.3
Total Net sales	$	1,234.9	$	1,126.8	$	2,409.0	$	2,190.4
Depreciation and amortization expense (2):
Performance Coatings	$	57.7	$	56.4	$	115.7	$	110.4
Mobility Coatings	19.6		22.6		39.3		45.0
Total Depreciation and amortization expense	$	77.3	$	79.0	$	155.0	$	155.4

(1)The Company has no intercompany sales between segments.

(2)Depreciation and amortization expenses relating to assets used within the operations of a specifically identifiable segment are recorded to the appropriate segment, while depreciation and amortization expenses relating to assets shared in our integrated supply chain are allocated to the appropriate segments on a consistent basis reflecting their use.

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following table reconciles our segment operating performance to income before income taxes for the periods presented:


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Segment Adjusted EBIT (1):
Performance Coatings	$	125.2	$	139.7	$	219.8	$	256.9
Mobility Coatings	2.3		5.7		2.8		44.9
Total (2)	127.5		145.4		222.6		301.8
Interest expense, net	33.5		33.4		66.1		66.9

Termination benefits and other employee related costs (a)	2.7		22.7		5.1		25.5
Strategic review and retention costs (b)	—		2.2		—		7.6
Acquisition and divestiture-related costs (c)	2.2		1.5		2.6		1.7


Accelerated depreciation and site closure costs (d)	1.8		0.5		3.1		1.1


Operational matter (e)	0.1		(71.8)		0.2		22.6
Brazil indirect tax (f)	—		(8.3)		—		(8.3)

Russia sanction-related impacts (g)	0.3		—		6.1		—
Commercial agreement restructuring impacts (h)	25.0		—		25.0		—
Other adjustments (i)	(1.0)		0.1		(0.4)		0.1
Income before income taxes	$	62.9	$	165.1	$	114.8	$	184.6


(1)			The primary measure of segment operating performance is Adjusted EBIT, which is defined as net income before interest, taxes and select other items impacting operating results. These other items impacting operating results are items that management has concluded are (1) non-cash items included within net income, (2) items the Company does not believe are indicative of ongoing operating performance or (3) non-recurring, unusual or infrequent items that have not occurred within the last two years or we believe are not reasonably likely to recur within the next two years. Adjusted EBIT is a key metric that is used by management to evaluate business performance in comparison to budgets, forecasts and prior year financial results, providing a measure that management believes reflects the Company's core operating performance, which represents Adjusted EBIT adjusted for the select items referred to above.

(2)			Does not represent Adjusted EBIT referenced elsewhere by the Company as there are additional adjustments that are not allocated to the segments.



(a)			Represents expenses and associated changes to estimates related to employee termination benefits and other employee-related costs. Employee termination benefits are primarily associated with Axalta Way initiatives. These amounts are not considered indicative of our ongoing operating performance.

(b)			Represents costs for legal, tax and other advisory fees pertaining to our review of strategic alternatives that was concluded in March 2020, as well as retention awards for certain employees that were earned over a period of 18-24 months, which ended in September 2021. These amounts are not considered indicative of our ongoing performance.

(c)			Represents acquisition and divestiture-related expenses and integration activities associated with our business combinations, all of which are not considered indicative of our ongoing operating performance.





(d)			Represents incremental depreciation expense resulting from truncated useful lives of the assets impacted by our manufacturing footprint assessments and costs related to the closure of certain manufacturing sites, which we do not consider indicative of our ongoing operating performance.



(e)			Represents expenses, changes in estimates and insurance recoveries for probable liabilities related to an operational matter in the Mobility Coatings segment discussed further in Note 6, which we do not consider indicative of our ongoing operating performance.

(f)			Represents non-recurring income related to a law change with respect to certain Brazilian indirect taxes which was recorded within other expense (income), net.





(g)			Represents expenses related to sanctions imposed on Russia in response to the conflict with Ukraine as a result of incremental reserves for accounts receivable, incremental inventory obsolescence and business incentive payments, which we do not consider indicative of our ongoing operating performance.

(h)			Represents a forgiveness of a portion of up-front customer incentives with repayment features, contingent upon our customer completing a recapitalization and restructuring of its indebtedness and the execution of a new long-term exclusive sales agreement with us. These amounts are not considered to be indicative of our ongoing operating performance.

(i)			Represents costs for certain non-operational or non-cash (gains) and losses, unrelated to our core business and which we do not consider indicative of ongoing operations.

Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)


	Unrealized Currency Translation Adjustments		Pension Adjustments		Unrealized (Loss) Gain on Derivatives		Accumulated Other Comprehensive (Loss) Income
Balance, December 31, 2021	$	(331.3)	$	(60.4)	$	(22.7)	$	(414.4)
Current year deferrals to AOCI	0.4		—		10.8		11.2
Reclassifications from AOCI to Net income	(4.8)		0.5		6.1		1.8
Net Change	(4.4)		0.5		16.9		13.0
Balance, March 31, 2022	(335.7)		(59.9)		(5.8)		(401.4)
Current year deferrals to AOCI	(77.1)		—		6.1		(71.0)
Reclassifications from AOCI to Net income	(5.1)		0.4		3.9		(0.8)
Net Change	(82.2)		0.4		10.0		(71.8)
Balance, June 30, 2022	$	(417.9)	$	(59.5)	$	4.2	$	(473.2)


	Unrealized Currency Translation Adjustments		Pension Adjustments		Unrealized (Loss) Gain on Derivatives		Accumulated Other Comprehensive (Loss) Income
Balance, December 31, 2020	$	(282.0)	$	(88.7)	$	(54.1)	$	(424.8)
Current year deferrals to AOCI	(32.6)		—		1.3		(31.3)
Reclassifications from AOCI to Net income	(4.8)		0.7		6.6		2.5
Net Change	(37.4)		0.7		7.9		(28.8)
Balance, March 31, 2021	(319.4)		(88.0)		(46.2)		(453.6)
Current year deferrals to AOCI	43.4		—		(0.8)		42.6
Reclassifications from AOCI to Net income	(4.7)		1.0		6.7		3.0
Net Change	38.7		1.0		5.9		45.6
Balance, June 30, 2021	$	(280.7)	$	(87.0)	$	(40.3)	$	(408.0)

Revenue - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Contract with customer, asset	$ 37.5		$ 37.5		$ 36.1
Capitalized contract cost, net	144.5		144.5		151.2
Capitalized contract cost, amortization	15.4	$ 13.7	29.9	$ 29.0
Upfront incentive payments	44.5		44.5		72.7
Reserve for collection risk	25.0	$ 0.0	25.0	$ 0.0
Reduction to revenue	20.3		20.3
Prepaid expenses and other current assets
Disaggregation of Revenue [Line Items]
Upfront incentive payments	$ 5.1		$ 5.1		$ 12.6

Acquisitions - Additional Information (Details) $ in Millions	Sep. 15, 2021 USD ($)
U-POL
Business Acquisition [Line Items]
Consideration transferred	$ 619.8

Acquisitions - Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021	Sep. 15, 2021
Business Acquisition [Line Items]
Goodwill from acquisition	$ 1,498.1	$ 1,592.7
U-POL
Business Acquisition [Line Items]
Cash			$ 23.7
Accounts and notes receivable, net			24.3
Inventories			23.3
Prepaid expenses and other current assets, net			3.2
Property, plant and equipment, net			14.3
Identifiable intangible assets			274.0
Other assets			2.1
Accounts payable			(22.7)
Other accrued liabilities			(4.2)
Other liabilities			(0.9)
Deferred income taxes			(69.1)
Net assets before goodwill from acquisition			268.0
Goodwill from acquisition			351.8
Net assets acquired			619.8
U-POL \| Previously Reported
Business Acquisition [Line Items]
Cash			23.7
Accounts and notes receivable, net			22.5
Inventories			23.3
Prepaid expenses and other current assets, net			3.2
Property, plant and equipment, net			16.5
Identifiable intangible assets			273.0
Other assets			2.0
Accounts payable			(20.9)
Other accrued liabilities			(3.9)
Other liabilities			(0.9)
Deferred income taxes			(68.4)
Net assets before goodwill from acquisition			270.1
Goodwill from acquisition			349.7
Net assets acquired			619.8
U-POL \| Revision of Prior Period, Adjustment
Business Acquisition [Line Items]
Cash			0.0
Accounts and notes receivable, net			1.8
Inventories			0.0
Prepaid expenses and other current assets, net			0.0
Property, plant and equipment, net			(2.2)
Identifiable intangible assets			1.0
Other assets			0.1
Accounts payable			(1.8)
Other accrued liabilities			(0.3)
Other liabilities			0.0
Deferred income taxes			(0.7)
Net assets before goodwill from acquisition			(2.1)
Goodwill from acquisition			2.1
Net assets acquired			$ 0.0

Goodwill and Identifiable Intangible Assets - Schedule of Goodwill (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 1,592.7
Purchase accounting adjustments	2.3
Foreign currency translation	(96.9)
Goodwill, ending balance	1,498.1
Performance Coatings
Goodwill [Roll Forward]
Goodwill, beginning balance	1,513.4
Purchase accounting adjustments	2.3
Foreign currency translation	(92.8)
Goodwill, ending balance	1,422.9
Mobility Coatings
Goodwill [Roll Forward]
Goodwill, beginning balance	79.3
Purchase accounting adjustments	0.0
Foreign currency translation	(4.1)
Goodwill, ending balance	$ 75.2

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Goodwill and Identifiable Intangible Assets - Gross Carrying Amounts and Accumulated Amortization of Identifiable Intangible Assets by Major Class (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	$ 2,040.0	$ 2,122.8
Accumulated Amortization	(867.1)	(844.6)
Net Book Value, definite-lived	1,172.9	1,278.2
Trademarks
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Net Book Value, indefinite-lived	253.5	266.7
Technology
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	552.8	575.3
Accumulated Amortization	(431.8)	(420.9)
Net Book Value, definite-lived	$ 121.0	$ 154.4
Weighted average amortization periods (years)	10 years 2 months 12 days	10 years 2 months 12 days
Trademarks
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	$ 127.0	$ 134.5
Accumulated Amortization	(46.8)	(43.8)
Net Book Value, definite-lived	$ 80.2	$ 90.7
Weighted average amortization periods (years)	14 years 4 months 24 days	14 years 4 months 24 days
Customer relationships
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	$ 1,106.1	$ 1,131.8
Accumulated Amortization	(388.0)	(366.6)
Net Book Value, definite-lived	$ 718.1	$ 765.2
Weighted average amortization periods (years)	19 years 2 months 12 days	19 years 2 months 12 days
Other
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	$ 0.6	$ 14.5
Accumulated Amortization	(0.5)	(13.3)
Net Book Value, definite-lived	$ 0.1	$ 1.2
Weighted average amortization periods (years)	5 years	5 years

Goodwill and Identifiable Intangible Assets - Schedule of Expected Amortization Expense (Details) $ in Millions	Jun. 30, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2022	$ 62.0
2023	87.4
2024	82.7
2025	82.1
2026	81.6
2027	$ 80.6

Restructuring - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Restructuring and Related Activities [Abstract]
Restructuring charges	$ 3.4	$ 22.5	$ 5.8	$ 27.0
Payment term (in months)			24 months

Restructuring - Restructuring Reserve (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Restructuring Reserve [Roll Forward]
Beginning balance			$ 57.5
Expenses, net of changes to estimates	$ 3.4	$ 22.5	5.8	$ 27.0
Payments made			(21.9)
Foreign currency translation			(2.6)
Ending balance	$ 38.8		$ 38.8

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Maximum exposure	$ 4.8		$ 4.8		$ 5.7
Current carrying value	0.0		0.0		0.0
Recorded charge (benefit) expense in probable loss	0.1	$ (71.8)	0.2	$ 22.6
Insurance receivable	38.2		38.2		52.7
Loss recorded as a liability	$ 43.5		$ 43.5		$ 49.7

Long-term Employee Benefits - Schedule of Net Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Retirement Benefits [Abstract]
Service cost	$ 1.6	$ 2.0	$ 3.3	$ 3.8
Interest cost	2.5	1.9	4.9	3.9
Expected return on plan assets	(3.1)	(3.5)	(6.3)	(6.9)
Amortization of actuarial losses, net	0.8	1.3	1.7	2.5
Amortization of prior service cost, net	(0.1)	0.0	(0.1)	0.0
Net periodic benefit cost	$ 1.7	$ 1.7	$ 3.5	$ 3.3

Stock-based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 3,700,000	$ 4,200,000	$ 9,000,000	$ 7,800,000
Stock based compensation tax benefit	400,000	$ 900,000	1,000,000	$ 1,200,000
Unrecognized expense	0		0
Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefit realized on the vesting of restricted stock			100,000
Compensation not yet recognized, share-based awards other than options	21,200,000		$ 21,200,000
Period for recognition of compensation not yet recognized			1 year 7 months 6 days
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation not yet recognized, share-based awards other than options	$ 5,200,000		$ 5,200,000
Period for recognition of compensation not yet recognized			2 years 6 months
Performance stock awards expected to vest (in shares)	0.2		0.2
Weighted average fair value per share of performance stock awards expected to vest (in usd per share)	$ 30.33		$ 30.33

Stock-based Compensation - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2022
Awards (in millions)
Beginning Balance (in shares)	1.4
Granted (in shares)	0.0
Exercised (in shares)	0.0
Forfeited/Expired (in shares)	0.0
Ending Balance (in shares)	1.4
Weighted- Average Exercise Price
Beginning Balance (in usd per share)	$ 26.30
Granted (in usd per share)	0
Exercised (in usd per share)	7.21
Forfeited/Expired (in usd per share)	0
Ending Balance (in usd per share)	$ 26.33
Vested and Expected to Vest
Vested and expected to vest, awards (in shares)	1.4
Vested and expected to vest, weighted average exercise price (in usd per share)	$ 26.33
Vested and expected to vest, aggregate intrinsic value	$ 1.9
Vested and expected to vest, weighted average contractual life (in years)	4 years 1 month 13 days
Exercisable
Exercisable, awards (in shares)	1.4
Exercisable, weighted average exercise price (in usd per share)	$ 26.33
Exercisable, aggregate intrinsic value	$ 1.9
Exercisable, weighted average contractual life (in years)	4 years 1 month 13 days

Stock-based Compensation - Schedule of Restricted Stock Awards and Restricted Stock Units (Details) - Restricted Stock and Restricted Stock Units shares in Millions	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Units (millions)
Beginning Balance (in shares) \| shares	1.1
Granted (in shares) \| shares	0.7
Vested (in shares) \| shares	(0.5)
Forfeited (in shares) \| shares	(0.1)
Ending Balance (in shares) \| shares	1.2
Weighted Average Fair Value
Beginning Balance (in usd per share) \| $ / shares	$ 28.85
Granted (in usd per share) \| $ / shares	28.71
Vested (in usd per share) \| $ / shares	28.63
Forfeited (in usd per share) \| $ / shares	28.87
Ending Balance (in usd per share) \| $ / shares	$ 28.87

Stock-based Compensation - Schedule of Performance Shares Award Outstanding Activity (Details) - Performance Shares shares in Millions	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Units (millions)
Beginning Balance (in shares) \| shares	0.8
Granted (in shares) \| shares	0.4
Vested (in shares) \| shares	(0.1)
Forfeited (in shares) \| shares	(0.2)
Ending Balance (in shares) \| shares	0.9
Weighted Average Fair Value
Beginning Balance (in usd per share) \| $ / shares	$ 30.10
Granted (in usd per share) \| $ / shares	30.61
Vested (in usd per share) \| $ / shares	29.12
Forfeited (in usd per share) \| $ / shares	29.65
Ending Balance (in usd per share) \| $ / shares	$ 30.47

Other Expense (Income), Net - Schedule of Other Non-operating Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Other Income and Expenses [Abstract]
Foreign exchange losses, net	$ 4.9	$ 1.8	$ 7.5	$ 3.6
Other miscellaneous expense (income), net	2.3	(9.9)	1.5	(12.1)
Total	7.2	(8.1)	9.0	(8.5)
Reserve for contingent customer concession	4.7		4.7
Brazil indirect tax	$ 0.0	$ 8.3	$ 0.0	$ 8.3

Income Taxes (Details) - USD ($) $ in Millions	6 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Effective Tax Rate	26.00%	23.00%
Settlement with Taxing Authority
income tax settlement [Line Items]
Amount reasonable possible to settle of unrecognized tax benefits	$ 10.6

Net Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Net income to common shareholders	$ 44.1	$ 126.4	$ 85.6	$ 141.6
Basic weighted average shares outstanding (in shares)	221.0	232.5	222.8	233.2
Diluted weighted average shares outstanding (in shares)	221.4	233.5	223.3	234.1
Net income per common share:
Basic net income per share (in dollars per share)	$ 0.20	$ 0.54	$ 0.38	$ 0.61
Diluted net income per share (in dollars per share)	$ 0.20	$ 0.54	$ 0.38	$ 0.60
Antidilutive securities excluded from computation of earnings per share (in shares)	1.3	0.6	1.2	1.1

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1448-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1337-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e4984-109258

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e3842-109258

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1252-109256

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e3842-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1337-109256

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669619-108580

Reference 25: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669625-108580

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

+ Details

Accounts and Notes Receivable, Net - Schedule of Accounts, Notes, Loans, and Financing Receivable (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Receivables [Abstract]
Accounts receivable - trade, net	$ 944.1	$ 760.4
Notes receivable	8.7	24.7
Other	147.8	152.4
Total	1,100.6	937.5
Allowance for doubtful accounts	23.8	22.0
Insurance receivable	$ 38.2	$ 52.7

Accounts and Notes Receivable, Net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Bad debt expense (benefit) net of recoveries	$ 0.5	$ 0.2	$ 0.0	$ 0.9
Russia Conflict With Ukraine
Financing Receivable, Allowance for Credit Loss [Line Items]
Bad debt expense (benefit) net of recoveries	$ (1.0)		$ 3.1

Inventories - Schedule of Inventory (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Finished products	$ 395.6	$ 355.9
Semi-finished products	131.4	109.7
Raw materials	245.2	180.8
Stores and supplies	27.3	23.3
Total Inventories	$ 799.5	$ 669.7

Inventories - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Inventory reserves	$ 18.3	$ 15.6

Property, Plant and Equipment, Net - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Property, plant and equipment	$ 2,292.4	$ 2,299.4
Accumulated depreciation	(1,139.5)	(1,113.2)
Property, plant, and equipment, net	$ 1,152.9	$ 1,186.2

Property, Plant and Equipment, Net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 29.9	$ 32.9	$ 60.0	$ 64.8

Borrowings - Schedule of Debt (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Short-term and other borrowings	$ 95.7	$ 113.8
Unamortized original issue discount	(3.7)	(4.6)
Unamortized deferred financing costs	(24.0)	(27.3)
Total borrowings, net	3,768.2	3,829.6
Short-term borrowings	37.2	55.4
Current portion of long-term borrowings	24.3	24.3
Long-term debt	3,706.7	3,749.9
2024 Dollar Term Loans
Debt Instrument [Line Items]
Term loan	2,026.7	2,038.9
2025 Euro Senior Notes
Debt Instrument [Line Items]
Senior Notes	473.5	508.8
2027 Dollar Senior Notes
Debt Instrument [Line Items]
Senior Notes	500.0	500.0
2029 Dollar Senior Notes
Debt Instrument [Line Items]
Senior Notes	$ 700.0	$ 700.0

Borrowings - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Debt Instrument [Line Items]
Short-term borrowings	$ 37.2		$ 37.2		$ 55.4
Cash outflows			$ 44.0	$ 41.1
Supplier Financing Arrangements
Debt Instrument [Line Items]
Debt term			90 days
Short-term borrowings	7.9	$ 12.6	$ 7.9	12.6
Cash outflows	19.9	17.2	44.0	30.9
Supplier Financing Arrangements \| Property, Plant, And Equipment Purchases
Debt Instrument [Line Items]
Short-term borrowings	0.4	$ 1.6	0.4	$ 1.6
Revolving Credit Facility
Debt Instrument [Line Items]
Letters of credit outstanding, amount	21.2		21.2		22.1
Line of credit facility, remaining borrowing capacity	$ 528.8		$ 528.8		$ 527.9

Borrowings - Schedule of Maturities of Long-term Debt (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Remainder of 2022	$ 47.8
2023	27.4
2024	1,993.5
2025	476.8
2026	3.5
Thereafter	1,246.9
Total borrowings	3,795.9
Unamortized original issue discount	(3.7)	$ (4.6)
Unamortized deferred financing costs	(24.0)	(27.3)
Total borrowings, net	$ 3,768.2	$ 3,829.6

Financial Instruments, Hedging Activities and Fair Value Measurements - Additional Information (Details) € in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2022 USD ($) derivative_instrument	Mar. 31, 2022 EUR (€)	Jun. 30, 2022 USD ($) derivative_instrument	Jun. 30, 2021 USD ($)	Jun. 30, 2022 EUR (€) derivative_instrument	Apr. 30, 2021 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of contingent consideration			$ 7.5			$ 7.3
Cash proceeds on cross-currency swaps	$ 25.0		25.0	$ 0.0
Cash flow hedge loss to be reclassified within twelve months			$ 4.6
Cross-currency swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of derivative instruments settled \| derivative_instrument	2
Notional amount, settled during period \| €		€ 335.0
Number of derivative instruments held \| derivative_instrument			2		2
Derivative, notional amount			$ 365.5		€ 335.0
Derivative interest rate of hedged item			3.375%		3.375%
Derivative, fixed interest rate			2.04%		2.04%
Foreign currency forward contracts \| Cash flow hedging \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, notional amount	$ 3.0

Financial Instruments, Hedging Activities and Fair Value Measurements - Schedule of Fair Value of Financial Instruments (Details) - Fair Value, Recurring - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in equity securities	$ 0.6	$ 0.7
Other accrued liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	7.5	7.8
Long-term borrowings \| 2024 Dollar Term Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans payable, fair value	1,984.1	2,038.5
Long-term borrowings \| 2025 Euro Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	428.6	513.7
Long-term borrowings \| 2027 Dollar Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	447.7	522.9
Long-term borrowings \| 2029 Dollar Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	569.1	679.5
Interest rate swaps \| Prepaid expenses and other current assets \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	4.5	0.0
Interest rate swaps \| Other accrued liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0.0	24.3
Interest rate swaps \| Other liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0.0	1.9
Cross-currency swaps \| Prepaid expenses and other current assets \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	40.5	17.7
Cross-currency swaps \| Other assets \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	10.4	8.3
Foreign currency forward contracts \| Prepaid expenses and other current assets \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0.1	0.0
Level 1 \| Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in equity securities	0.6	0.7
Level 1 \| Other accrued liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	0.0	0.0
Level 1 \| Long-term borrowings \| 2024 Dollar Term Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans payable, fair value	0.0	0.0
Level 1 \| Long-term borrowings \| 2025 Euro Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0.0	0.0
Level 1 \| Long-term borrowings \| 2027 Dollar Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0.0	0.0
Level 1 \| Long-term borrowings \| 2029 Dollar Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0.0	0.0
Level 1 \| Interest rate swaps \| Prepaid expenses and other current assets \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0.0	0.0
Level 1 \| Interest rate swaps \| Other accrued liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0.0	0.0
Level 1 \| Interest rate swaps \| Other liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0.0	0.0
Level 1 \| Cross-currency swaps \| Prepaid expenses and other current assets \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0.0	0.0
Level 1 \| Cross-currency swaps \| Other assets \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0.0	0.0
Level 1 \| Foreign currency forward contracts \| Prepaid expenses and other current assets \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0.0	0.0
Level 2 \| Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in equity securities	0.0	0.0
Level 2 \| Other accrued liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	0.0	0.0
Level 2 \| Long-term borrowings \| 2024 Dollar Term Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans payable, fair value	1,984.1	2,038.5
Level 2 \| Long-term borrowings \| 2025 Euro Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	428.6	513.7
Level 2 \| Long-term borrowings \| 2027 Dollar Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	447.7	522.9
Level 2 \| Long-term borrowings \| 2029 Dollar Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	569.1	679.5
Level 2 \| Interest rate swaps \| Prepaid expenses and other current assets \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	4.5	0.0
Level 2 \| Interest rate swaps \| Other accrued liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0.0	24.3
Level 2 \| Interest rate swaps \| Other liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0.0	1.9
Level 2 \| Cross-currency swaps \| Prepaid expenses and other current assets \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	40.5	17.7
Level 2 \| Cross-currency swaps \| Other assets \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	10.4	8.3
Level 2 \| Foreign currency forward contracts \| Prepaid expenses and other current assets \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0.1	0.0
Level 3 \| Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in equity securities	0.0	0.0
Level 3 \| Other accrued liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	7.5	7.8
Level 3 \| Long-term borrowings \| 2024 Dollar Term Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans payable, fair value	0.0	0.0
Level 3 \| Long-term borrowings \| 2025 Euro Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0.0	0.0
Level 3 \| Long-term borrowings \| 2027 Dollar Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0.0	0.0
Level 3 \| Long-term borrowings \| 2029 Dollar Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0.0	0.0
Level 3 \| Interest rate swaps \| Prepaid expenses and other current assets \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0.0	0.0
Level 3 \| Interest rate swaps \| Other accrued liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0.0	0.0
Level 3 \| Interest rate swaps \| Other liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0.0	0.0
Level 3 \| Cross-currency swaps \| Prepaid expenses and other current assets \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0.0	0.0
Level 3 \| Cross-currency swaps \| Other assets \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0.0	0.0
Level 3 \| Foreign currency forward contracts \| Prepaid expenses and other current assets \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	$ 0.0	$ 0.0

Financial Instruments, Hedging Activities and Fair Value Measurements - Schedule of Liability Activity (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2022	Mar. 31, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 7.8	$ 7.8
Change in fair value	(0.3)	0.0
Ending balance	$ 7.5	$ 7.8

Financial Instruments, Hedging Activities and Fair Value Measurements - Accumulated Other Comprehensive (Loss) Income (Details) - Level 2 - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AOCI	$ (80.1)	$ 0.3
Cash flow hedging \| Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AOCI	(4.5)	26.3
Cash flow hedging \| Foreign currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AOCI	(0.1)	0.0
Net investment hedging \| Cross-currency swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AOCI	$ (75.5)	$ (26.0)

Financial Instruments, Hedging Activities and Fair Value Measurements - Derivative Locations and Amounts Recognized (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Amount of Loss (Gain) Recognized in OCI on Derivatives	$ 11.4	$ 6.9	$ 30.9	$ 16.1
Interest rate caps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Amount of Loss (Gain) Recognized in OCI on Derivatives	0.0	0.0	0.0	0.0
Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Amount of Loss (Gain) Recognized in OCI on Derivatives	(6.9)	0.9	(19.3)	(0.6)
Foreign currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Amount of Loss (Gain) Recognized in OCI on Derivatives	(0.1)	0.1	(0.1)	0.0
Cross-currency swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Amount of Loss (Gain) Recognized in OCI on Derivatives	(53.8)	(0.3)	(59.4)	(29.9)
Interest expense \| Interest rate caps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount of Loss (Gain) Recognized in Income	0.0	0.6	0.0	1.2
Interest expense \| Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount of Loss (Gain) Recognized in Income	4.4	7.2	11.5	14.2
Interest expense \| Foreign currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	2.3	0.9	2.6	(5.9)
Interest expense \| Cross-currency swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount of Loss (Gain) Recognized in Income	(5.1)	(4.7)	(9.9)	(9.5)
Cost of goods sold \| Foreign currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount of Loss (Gain) Recognized in Income	$ 0.0	$ 0.1	$ 0.0	$ 0.1

Segments - Additional Information (Details)	6 Months Ended
Segments - Additional Information (Details)	Jun. 30, 2022 Segment
Segment Reporting [Abstract]
Number of operating segments	2
Number of reportable segments	2

Segments - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Net sales	$ 1,234.9	$ 1,126.8	$ 2,409.0	$ 2,190.4
Depreciation and amortization expense	77.3	79.0	155.0	155.4
Intercompany sales between segments	0.0	0.0	0.0	0.0
Performance Coatings
Segment Reporting Information [Line Items]
Net sales	855.8	805.8	1,670.2	1,513.1
Depreciation and amortization expense	57.7	56.4	115.7	110.4
Mobility Coatings
Segment Reporting Information [Line Items]
Net sales	379.1	321.0	738.8	677.3
Depreciation and amortization expense	19.6	22.6	39.3	45.0
Refinish \| Performance Coatings
Segment Reporting Information [Line Items]
Net sales	491.1	463.1	952.5	862.1
Industrial \| Performance Coatings
Segment Reporting Information [Line Items]
Net sales	364.7	342.7	717.7	651.0
Light Vehicle \| Mobility Coatings
Segment Reporting Information [Line Items]
Net sales	282.9	243.9	558.5	522.8
Commercial Vehicle \| Mobility Coatings
Segment Reporting Information [Line Items]
Net sales	$ 96.2	$ 77.1	$ 180.3	$ 154.5

Segments - Reconciliation of Operating Profit (Loss) from Segments to Consolidated (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBIT	$ 127.5	$ 145.4	$ 222.6	$ 301.8
Interest expense, net	33.5	33.4	66.1	66.9
Termination benefits and other employee related costs	2.7	22.7	5.1	25.5
Strategic review and retention costs	0.0	2.2	0.0	7.6
Acquisition and divestiture-related costs	2.2	1.5	2.6	1.7
Accelerated depreciation and site closure costs	1.8	0.5	3.1	1.1
Operational matter	0.1	(71.8)	0.2	22.6
Brazil indirect tax	0.0	(8.3)	0.0	(8.3)
Russia sanction-related impacts	0.3	0.0	6.1	0.0
Commercial agreement restructuring charge	25.0	0.0	25.0	0.0
Other adjustments	(1.0)	0.1	(0.4)	0.1
Income before income taxes	62.9	165.1	114.8	184.6
Performance Coatings
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBIT	125.2	139.7	219.8	256.9
Mobility Coatings
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBIT	$ 2.3	$ 5.7	$ 2.8	$ 44.9
Minimum
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Retention payment terms			18 months
Maximum
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Retention payment terms			24 months

Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI, beginning balance		$ (414.4)
Current year deferrals to AOCI	$ (71.0)	11.2	$ 42.6	$ (31.3)
Reclassifications from AOCI to Net income	(0.8)	1.8	3.0	2.5
Net Change	(71.8)	13.0	45.6	(28.8)
AOCI, ending balance	(473.2)
Unrealized Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI, beginning balance	(335.7)	(331.3)	(319.4)	(282.0)
Current year deferrals to AOCI	(77.1)	0.4	43.4	(32.6)
Reclassifications from AOCI to Net income	(5.1)	(4.8)	(4.7)	(4.8)
Net Change	(82.2)	(4.4)	38.7	(37.4)
AOCI, ending balance	(417.9)	(335.7)	(280.7)	(319.4)
Pension Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI, beginning balance	(59.9)	(60.4)	(88.0)	(88.7)
Current year deferrals to AOCI	0.0	0.0	0.0	0.0
Reclassifications from AOCI to Net income	0.4	0.5	1.0	0.7
Net Change	0.4	0.5	1.0	0.7
AOCI, ending balance	(59.5)	(59.9)	(87.0)	(88.0)
Unrealized (Loss) Gain on Derivatives
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI, beginning balance	(5.8)	(22.7)	(46.2)	(54.1)
Current year deferrals to AOCI	6.1	10.8	(0.8)	1.3
Reclassifications from AOCI to Net income	3.9	6.1	6.7	6.6
Net Change	10.0	16.9	5.9	7.9
AOCI, ending balance	4.2	(5.8)	(40.3)	(46.2)
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI, beginning balance	(401.4)	(414.4)	(453.6)	(424.8)
AOCI, ending balance	$ (473.2)	$ (401.4)	$ (408.0)	$ (453.6)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

Accumulated Other Comprehensive Loss - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021
Equity [Abstract]
Cumulative income tax benefit on pension and postretirement benefit plans	$ (24.1)	$ (32.7)
Cumulative income tax expense (benefit) on derivatives	$ 0.4	$ (6.5)