Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2020	Oct. 19, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
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	Two Commerce Square
Entity Address, Address Line Two	2001 Market Street
Entity Address, Address Line Three	Suite 3600
Entity Address, City or Town	Philadelphia
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19103
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		235,476,819
Entity Central Index Key	0001616862
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Net sales	$ 1,026.9	$ 1,107.0	$ 2,663.1	$ 3,383.8
Cost of goods sold	634.1	707.4	1,780.1	2,207.1
Selling, general and administrative expenses	166.5	199.2	516.1	617.2
Other operating charges	42.6	31.8	98.9	41.4
Research and development expenses	13.4	17.4	41.2	53.5
Amortization of acquired intangibles	28.6	28.2	84.5	85.1
Income from operations	141.7	123.0	142.3	379.5
Interest expense, net	39.8	40.2	112.4	122.5
Other expense (income), net	2.3	(1.9)	0.9	(3.8)
Income before income taxes	99.6	84.7	29.0	260.8
Provision (benefit) for income taxes	17.1	18.3	(22.7)	50.4
Net income	82.5	66.4	51.7	210.4
Less: Net income (loss) attributable to noncontrolling interests	0.0	0.9	(0.2)	3.1
Net income attributable to controlling interests	$ 82.5	$ 65.5	$ 51.9	$ 207.3
Basic net income per share (in dollars per share)	$ 0.35	$ 0.28	$ 0.22	$ 0.89
Diluted net income per share (in dollars per share)	$ 0.35	$ 0.28	$ 0.22	$ 0.88

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 82.5	$ 66.4	$ 51.7	$ 210.4
Other comprehensive income (loss), before tax:
Foreign currency translation adjustments	33.4	(52.8)	(46.1)	(40.4)
Unrealized gain (loss) on derivatives	7.0	(4.6)	(36.3)	(39.5)
Unrealized (loss) gain on pension plan obligations	(0.5)	0.5	(0.5)	1.0
Other comprehensive income (loss), before tax	39.9	(56.9)	(82.9)	(78.9)
Income tax provision (benefit) related to items of other comprehensive income (loss)	1.0	(0.5)	(5.4)	(5.3)
Other comprehensive income (loss), net of tax	38.9	(56.4)	(77.5)	(73.6)
Comprehensive income (loss)	121.4	10.0	(25.8)	136.8
Less: Comprehensive (loss) income attributable to noncontrolling interests	(0.5)	0.3	(3.0)	5.2
Comprehensive income (loss) attributable to controlling interests	$ 121.9	$ 9.7	$ (22.8)	$ 131.6

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 1,341.3	$ 1,017.5
Restricted cash	2.9	3.0
Accounts and notes receivable, net	824.2	830.1
Inventories	536.7	591.6
Prepaid expenses and other current assets	145.2	131.2
Total current assets	2,850.3	2,573.4
Property, plant and equipment, net	1,165.2	1,223.0
Goodwill	1,245.8	1,208.9
Identifiable intangibles, net	1,148.6	1,223.9
Other assets	626.6	588.8
Total assets	7,036.5	6,818.0
Current liabilities:
Accounts payable	482.9	483.7
Current portion of borrowings	48.7	43.9
Other accrued liabilities	533.6	545.3
Total current liabilities	1,065.2	1,072.9
Long-term borrowings	4,010.9	3,790.2
Accrued pensions	284.0	285.2
Deferred income taxes	108.5	115.5
Other liabilities	183.2	144.6
Total liabilities	5,651.8	5,408.4
Commitments and contingencies (Note 5)
Shareholders’ equity:
Common shares, $1.00 par, 1,000.0 shares authorized, 250.7 and 250.1 shares issued at September 30, 2020 and December 31, 2019, respectively	250.6	249.9
Capital in excess of par	1,484.1	1,474.1
Retained earnings	493.6	443.2
Treasury shares, at cost, 15.2 shares at September 30, 2020 and December 31, 2019	(418.4)	(417.5)
Accumulated other comprehensive loss	(470.2)	(395.5)
Total Axalta shareholders’ equity	1,339.7	1,354.2
Noncontrolling interests	45.0	55.4
Total shareholders’ equity	1,384.7	1,409.6
Total liabilities and shareholders’ equity	$ 7,036.5	$ 6,818.0

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 1.00	$ 1.00
Common shares authorized (in shares)	1,000,000,000.0	1,000,000,000.0
Common shares issued (in shares)	250,700,000	250,100,000
Treasury shares, at cost (in shares)	15,200,000	15,200,000

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, 2018		235.6
Beginning balance at Dec. 31, 2018	$ 1,310.5	$ 245.3	$ 1,409.5	$ 198.6	$ (312.2)	$ (336.1)	$ 105.4
Comprehensive income (loss):
Net income (loss)	44.1			43.4			0.7
Net realized and unrealized gain (loss) on derivatives, net of tax	(12.4)					(12.4)
Long-term employee benefit plans, net of tax	0.0
Foreign currency translation, net of tax	13.3					12.8	0.5
Comprehensive income (loss)	45.0			43.4		0.4	1.2
Recognition of stock-based compensation	6.7		6.7
Shares issued under compensation plans (in shares)		1.1
Shares issued under compensation plans	11.4	$ 1.7	9.7
Ownership changes relating to noncontrolling interests	(26.4)		5.7				(32.1)
Common stock purchases (in shares)		(2.5)
Common stock purchases	(65.8)				(65.8)
Dividends declared to noncontrolling interests	(1.1)						(1.1)
Ending balance (in shares) at Mar. 31, 2019		234.2
Ending balance at Mar. 31, 2019	1,279.6	$ 247.0	1,431.6	241.3	(378.0)	(335.7)	73.4
Beginning balance (in shares) at Dec. 31, 2018		235.6
Beginning balance at Dec. 31, 2018	1,310.5	$ 245.3	1,409.5	198.6	(312.2)	(336.1)	105.4
Comprehensive income (loss):
Net income (loss)	210.4
Comprehensive income (loss)	136.8
Ending balance (in shares) at Sep. 30, 2019		234.6
Ending balance at Sep. 30, 2019	1,339.7	$ 249.6	1,463.9	401.5	(417.5)	(411.8)	54.0
Beginning balance (in shares) at Mar. 31, 2019		234.2
Beginning balance at Mar. 31, 2019	1,279.6	$ 247.0	1,431.6	241.3	(378.0)	(335.7)	73.4
Comprehensive income (loss):
Net income (loss)	99.9			98.4			1.5
Net realized and unrealized gain (loss) on derivatives, net of tax	(17.6)					(17.6)
Long-term employee benefit plans, net of tax	0.4					0.4
Foreign currency translation, net of tax	(0.9)					(3.1)	2.2
Comprehensive income (loss)	81.8			98.4		(20.3)	3.7
Recognition of stock-based compensation	(1.4)		(1.4)
Shares issued under compensation plans (in shares)		0.7
Shares issued under compensation plans	14.5	$ 1.2	13.3
Ownership changes relating to noncontrolling interests	(24.2)		(1.7)				(22.5)
Common stock purchases (in shares)		(1.6)
Common stock purchases	(39.5)				(39.5)
Ending balance (in shares) at Jun. 30, 2019		233.3
Ending balance at Jun. 30, 2019	1,307.1	$ 248.2	1,441.8	336.0	(417.5)	(356.0)	54.6
Comprehensive income (loss):
Net income (loss)	66.4			65.5			0.9
Net realized and unrealized gain (loss) on derivatives, net of tax	(3.9)					(3.9)
Long-term employee benefit plans, net of tax	0.3					0.3
Foreign currency translation, net of tax	(52.8)					(52.2)	(0.6)
Comprehensive income (loss)	10.0			65.5		(55.8)	0.3
Recognition of stock-based compensation	4.2		4.2
Shares issued under compensation plans (in shares)		1.3
Shares issued under compensation plans	19.3	$ 1.4	17.9
Ownership changes relating to noncontrolling interests	(0.5)						(0.5)
Dividends declared to noncontrolling interests	(0.4)						(0.4)
Ending balance (in shares) at Sep. 30, 2019		234.6
Ending balance at Sep. 30, 2019	1,339.7	$ 249.6	1,463.9	401.5	(417.5)	(411.8)	54.0
Beginning balance (in shares) at Dec. 31, 2019		234.9
Beginning balance at Dec. 31, 2019	1,409.6	$ 249.9	1,474.1	443.2	(417.5)	(395.5)	55.4
Comprehensive income (loss):
Net income (loss)	52.4			52.2			0.2
Net realized and unrealized gain (loss) on derivatives, net of tax	(34.7)					(34.7)
Long-term employee benefit plans, net of tax	(0.4)					(0.4)
Foreign currency translation, net of tax	(86.5)					(83.3)	(3.2)
Comprehensive income (loss)	(69.2)			52.2		(118.4)	(3.0)
Recognition of stock-based compensation	5.1		5.1
Shares issued under compensation plans (in shares)		0.4
Shares issued under compensation plans	(1.1)	$ 0.5	(1.6)
Ownership changes relating to noncontrolling interests	(1.6)		0.5				(2.1)
Dividends declared to noncontrolling interests	(0.5)						(0.5)
Ending balance (in shares) at Mar. 31, 2020		235.3
Ending balance at Mar. 31, 2020	1,340.8	$ 250.4	1,478.1	493.9	(417.5)	(513.9)	49.8
Beginning balance (in shares) at Dec. 31, 2019		234.9
Beginning balance at Dec. 31, 2019	1,409.6	$ 249.9	1,474.1	443.2	(417.5)	(395.5)	55.4
Comprehensive income (loss):
Net income (loss)	51.7
Comprehensive income (loss)	$ (25.8)
Shares issued under compensation plans (in shares)	0.1
Ending balance (in shares) at Sep. 30, 2020		235.5
Ending balance at Sep. 30, 2020	$ 1,384.7	$ 250.6	1,484.1	493.6	(418.4)	(470.2)	45.0
Beginning balance (in shares) at Mar. 31, 2020		235.3
Beginning balance at Mar. 31, 2020	1,340.8	$ 250.4	1,478.1	493.9	(417.5)	(513.9)	49.8
Comprehensive income (loss):
Net income (loss)	(83.2)			(82.8)			(0.4)
Net realized and unrealized gain (loss) on derivatives, net of tax	(2.2)					(2.2)
Long-term employee benefit plans, net of tax	0.4					0.4
Foreign currency translation, net of tax	7.0					6.1	0.9
Comprehensive income (loss)	(78.0)			(82.8)		4.3	0.5
Recognition of stock-based compensation	6.1		6.1
Shares issued under compensation plans (in shares)		0.1
Shares issued under compensation plans	1.2	$ 0.1	1.1
Changes in redeemable noncontrolling interest	(10.6)		(5.8)				(4.8)
Common stock purchases	(0.9)				(0.9)
Ending balance (in shares) at Jun. 30, 2020		235.4
Ending balance at Jun. 30, 2020	1,258.6	$ 250.5	1,479.5	411.1	(418.4)	(509.6)	45.5
Comprehensive income (loss):
Net income (loss)	82.5			82.5
Net realized and unrealized gain (loss) on derivatives, net of tax	6.0					6.0
Long-term employee benefit plans, net of tax	(0.5)					(0.5)
Foreign currency translation, net of tax	33.4					33.9	(0.5)
Comprehensive income (loss)	121.4			82.5		39.4	(0.5)
Recognition of stock-based compensation	4.7		4.7
Shares issued under compensation plans (in shares)		0.1
Shares issued under compensation plans	0.0	$ 0.1	(0.1)
Ending balance (in shares) at Sep. 30, 2020		235.5
Ending balance at Sep. 30, 2020	$ 1,384.7	$ 250.6	$ 1,484.1	$ 493.6	$ (418.4)	$ (470.2)	$ 45.0

Condensed Consolidated Statements of Changes in Shareholders’ Equity (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019
Statement of Stockholders' Equity [Abstract]
Loss on derivatives, tax (benefit) expense	$ 1.0	$ (0.4)	$ (6.0)	$ (0.7)	$ (2.7)	$ (2.2)
Long-term employee benefit plans, net of tax benefit (expense)	(0.0)	(0.2)	0.2	(0.2)	0.4	0.5
Foreign currency translation, tax expense	$ 0.0	$ 0.0	$ 0.0	$ 0.0	$ 0.0	$ 0.0

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating activities:
Net income	$ 51.7	$ 210.4
Adjustment to reconcile net income to cash provided by operating activities:
Depreciation and amortization	243.6	267.3
Amortization of deferred financing costs and original issue discount	6.8	6.7
Debt extinguishment and refinancing related costs	2.4	0.2
Deferred income taxes	(57.2)	(5.6)
Realized and unrealized foreign exchange losses, net	12.7	1.5
Stock-based compensation	15.9	9.5
Divestitures and impairment charges	3.5	3.4
Interest income on swaps designated as net investment hedges	(11.0)	(11.0)
Other non-cash, net	2.7	(3.5)
Changes in operating assets and liabilities:
Trade accounts and notes receivable	(14.0)	(128.9)
Inventories	43.2	(4.0)
Prepaid expenses and other assets	(60.8)	(95.0)
Accounts payable	15.2	29.9
Other accrued liabilities	(40.9)	0.0
Other liabilities	17.1	8.9
Cash provided by operating activities	230.9	289.8
Investing activities:
Acquisitions, net of cash acquired	0.0	(2.1)
Purchase of property, plant and equipment	(56.2)	(73.9)
Proceeds from sale of consolidated joint venture, net of cash divested	0.0	8.2
Interest proceeds on swaps designated as net investment hedges	11.0	11.0
Other investing activities, net	5.9	(2.2)
Cash used for investing activities	(39.3)	(59.0)
Financing activities:
Proceeds from long-term borrowings	500.0	0.0
Payments on short-term borrowings	(23.2)	(29.5)
Payments on long-term borrowings	(325.3)	(20.0)
Financing-related costs	(8.4)	(1.5)
Purchases of common stock	(0.9)	(105.3)
Net cash flows associated with stock-based awards	0.3	46.0
Purchase of noncontrolling interests	(5.8)	(31.1)
Other financing activities, net	0.1	(3.6)
Cash provided by (used for) financing activities	136.8	(145.0)
Increase in cash	328.4	85.8
Effect of exchange rate changes on cash	(4.7)	(12.1)
Cash at beginning of period	1,020.5	696.4
Cash at end of period	1,344.2	770.1
Cash at end of period reconciliation:
Cash at end of period	$ 1,344.2	$ 770.1

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
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 of Axalta Coating Systems Ltd., a Bermuda exempted company limited by shares, and its consolidated subsidiaries ("Axalta," the "Company," "we," "our" and "us") at September 30, 2020 and December 31, 2019, the results of operations, comprehensive income (loss) and changes in shareholders' equity for the three and nine months ended September 30, 2020 and 2019, and cash flows for the nine 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, 2019. 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 joint ventures are accounted for on a one-month lag basis, the effect of which is not material. The results of operations for the three and nine months ended September 30, 2020 are not necessarily indicative of the results to be expected for a full year. Summary of Significant Accounting Policies Updates Reclassifications The condensed consolidated statements of operations for the three and nine months ended September 30, 2019 have been updated for comparability with the current year presentation to separately present other operating charges as detailed in our annual report on Form 10-K for the year ended December 31, 2019. Recently Adopted Accounting Guidance On January 1, 2020, we adopted Accounting Standards Update ("ASU") 2016-13, “Financial Instruments - Credit Losses” under a modified retrospective approach for all financial assets. ASU 2016-13 replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires considerations of a broader range of reasonable and supportable information to inform credit loss estimates. The provisions of this standard primarily impact the allowance for doubtful accounts on our trade receivables, in which we have applied historical loss percentages, combined with reasonable and supportable forecasts of future losses to the respective aging categories. Adoption of ASU 2016-13 at January 1, 2020 resulted in a one-time loss to retained earnings of $1.5 million on our condensed consolidated balance sheets and statements of shareholders' equity for the nine months ended September 30, 2020. In March 2020, we adopted ASU 2020-04, "Reference Rate Reform" which provides optional expedients exercisable through December 31, 2022 to ease the potential burden in accounting for the effects of reference rate reform on financial reporting. As of September 30, 2020, the expedients provided in this standard do not impact the Company. We will continue to monitor for potential impacts on our financial statements. Accounting Guidance Issued But Not Yet Adopted In December 2019, the FASB issued ASU 2019-12, "Simplifying the Accounting for Income Taxes" as part of its initiative to reduce complexity in accounting standards. The ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The new standard is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Early adoption is permitted. We are currently evaluating the impact of ASU 2019-12 on our financial statements. Risks and Uncertainties In March 2020, the World Health Organization characterized the coronavirus ("COVID-19") a pandemic, and the President of the United States declared the COVID-19 outbreak a national emergency. The rapid spread of the pandemic and the continuously evolving responses to combat it have had a negative impact on the global economy. In view of the rapidly changing business environment and heightened degree of uncertainty resulting from COVID-19, we are currently unable to fully determine its future impact on our business. However, we are monitoring the progression of the pandemic and its potential effect on our financial position, results of operations, and cash flows. The pandemic had a significant adverse impact on the Company's results of operations, financial condition and cash flows during 2020 and, over time, the effects could have a material adverse impact.

Revenue	9 Months Ended
Revenue	Sep. 30, 2020
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 September 30, 2020 and December 31, 2019 were $38.5 million and $37.5 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 September 30, 2020 and December 31, 2019, the total carrying value of BIPs were $170.7 million and $191.2 million, respectively, and are presented within other assets on the condensed consolidated balance sheets. For the three and nine months ended September 30, 2020 and 2019, $16.6 million, $49.9 million, $17.7 million and $50.8 million, respectively, were amortized and reflected as reductions of net sales in the condensed consolidated statements of operations. The total carrying value of BIPs exclude other upfront incentives made in conjunction with long-term customer commitments of $93.9 million and $79.0 million at September 30, 2020 and December 31, 2019, respectively, which will be repaid in future periods. See Note 16 for disaggregated net sales by end-market.

Goodwill and Identifiable Intangible Assets

9 Months Ended

Sep. 30, 2020

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, 2019 to September 30, 2020 by reportable segment:


	Performance Coatings		Transportation Coatings		Total
Balance at December 31, 2019	$	1,130.9	$	78.0	$	1,208.9

Foreign currency translation	34.5		2.4		36.9
Balance at September 30, 2020	$	1,165.4	$	80.4	$	1,245.8

Identifiable Intangible Assets

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


September 30, 2020	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Weighted Average Amortization Periods (years)
Technology	$	551.6	$	(359.0)	$	192.6	10.4
Trademarks - indefinite-lived	273.1		—		273.1		Indefinite
Trademarks - definite-lived	100.7		(34.8)		65.9		16.0
Customer relationships	919.8		(307.6)		612.2		19.0
Other	15.2		(10.4)		4.8		5.0
Total	$	1,860.4	$	(711.8)	$	1,148.6


December 31, 2019	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Weighted Average Amortization Periods (years)
Technology	$	540.2	$	(310.6)	$	229.6	10.4
Trademarks—indefinite-lived	264.9		—		264.9		Indefinite
Trademarks—definite-lived	99.7		(30.1)		69.6		15.8
Customer relationships	923.8		(271.3)		652.5		19.1
Other	15.2		(7.9)		7.3		5.0
Total	$	1,843.8	$	(619.9)	$	1,223.9

The estimated amortization expense related to the fair value of acquired intangible assets for the remainder of 2020 and each of the succeeding five years is:


Remainder of 2020	$	28.5
2021	113.6
2022	111.4
2023	71.1
2024	66.2
2025	65.5

Restructuring

9 Months Ended

Sep. 30, 2020

Restructuring and Related Activities [Abstract]

Restructuring

RESTRUCTURING

On July 29, 2020, we announced a global restructuring of our business given the significant customer demand headwinds we are facing due to COVID-19 and to better position the Company for sustained growth. The global restructuring resulted in pretax charges of $52.2 million for the nine months ended September 30, 2020, of which $48.2 million primarily relates to employee severance associated with a net reduction to our workforce of approximately 600 employees globally, while the remaining $4.0 million relates to accelerated depreciation, impairment of assets and other non-cash costs. The global restructuring is expected to result in total pretax charges of approximately $60-65 million.

We also incurred incremental accelerated depreciation resulting from the previously announced closure of our manufacturing facility in Mechelen, Belgium for the three and nine months ended September 30, 2020 and 2019, of $0.0 million, $8.5 million, $5.4 million and $18.2 million, respectively, which was recorded to cost of goods sold in the condensed consolidated statements of operations.

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 nine months ended September 30, 2020 and 2019, we incurred restructuring costs of $35.2 million, $67.4 million, $29.2 million and $33.3 million, respectively. These amounts 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 activities related to the restructuring reserves and expenses from December 31, 2019 to September 30, 2020:


	2020 Activity
Balance at December 31, 2019	$	78.0
Expenses, net of changes to estimates	67.4
Payments made	(68.5)
Foreign currency translation	2.6
Balance at September 30, 2020	$	79.5

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2020
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 September 30, 2020 and December 31, 2019, we had outstanding bank guarantees of $9.6 million and $11.6 million, respectively. Most of our bank guarantees expire between 2020 and 2026, while others do not have specified expiration dates. We monitor the obligations to evaluate whether we have a liability at the balance sheet date. During the nine months ended September 30, 2020, we incurred and paid $1.0 million related to our outstanding bank guarantees. We did not have any liabilities related to our outstanding bank guarantees recorded at September 30, 2020 and December 31, 2019. 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 litigation 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. 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

9 Months Ended

Sep. 30, 2020

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 cost for the three and nine months ended September 30, 2020 and 2019:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2020		2019		2020		2019
Components of net periodic benefit cost:
Net periodic benefit cost:
Service cost	$	1.8	$	1.8	$	5.5	$	5.4
Interest cost	2.6		3.2		7.2		9.8
Expected return on plan assets	(3.2)		(3.4)		(9.5)		(10.4)
Amortization of actuarial loss, net	0.7		0.5		2.5		1.4

Plan curtailments, settlements and special termination benefits	(0.7)		—		(2.5)		—
Net periodic benefit cost	$	1.2	$	2.1	$	3.2	$	6.2

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

Stock-based Compensation

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

Stock-based Compensation

STOCK-BASED COMPENSATIONDuring the three and nine months ended September 30, 2020 and 2019, we recognized expenses of $4.7 million, $15.9 million, $4.2 million and $9.5 million, respectively, for stock-based compensation, which was allocated between costs of goods sold and selling, general and administrative expenses on the condensed consolidated statements of operations. The increase in expense during 2020 resulted primarily from forfeitures recognized during the nine months ended September 30, 2019. We recognized tax benefits of $0.1 million, $1.6 million, $0.4 million and $1.5 million for the three and nine months ended September 30, 2020 and 2019, respectively.

2020 Activity

In February 2020, we granted restricted stock units and performance share units to certain employees and directors. All awards were granted under the Company's Amended and Restated 2014 Incentive Award Plan. During 2020, the Company withheld shares and used cash to settle the employees' tax obligation from vesting of awards in the amount of $1.1 million.

A summary of award activity by type for the nine months ended September 30, 2020 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, 2020	3.0	$	25.92
Granted	—	$	—
Exercised	(0.1)	$	13.12
Forfeited ⁽¹⁾	—	$	28.49
Outstanding at September 30, 2020	2.9	$	26.46
Vested and expected to vest at September 30, 2020	2.9	$	26.46	$	4.7	5.03
Exercisable at September 30, 2020	2.3	$	26.21	$	4.7	4.31

(1) Activity during the nine months ended September 30, 2020 rounds to zero.

Cash received by the Company upon exercise of options for the nine months ended September 30, 2020 was $1.4 million. Excess tax benefits on these exercises were $0.3 million.

At September 30, 2020, there is $1.1 million of unrecognized expense relating to unvested stock options that is expected to be amortized over a weighted average period of 1.1 years.


Restricted Stock Awards and Restricted Stock Units	Awards/Units (millions)	Weighted-Average Fair Value
Outstanding at January 1, 2020	1.2	$	28.45
Granted	0.4	$	29.54
Vested	(0.5)	$	28.60
Forfeited	(0.1)	$	28.27
Outstanding at September 30, 2020	1.0	$	28.89

Tax shortfall expenses on the vesting of restricted stock awards and restricted stock units during the nine months ended September 30, 2020 was $0.3 million.

At September 30, 2020, there is $12.4 million of unamortized expense relating to unvested restricted stock and restricted stock units that is expected to be amortized over a weighted average period of 1.4 years.


Performance Stock Awards and Performance Share Units	Awards/Units (millions)	Weighted-Average Fair Value
Outstanding at January 1, 2020	0.5	$	32.11
Granted	0.4	$	31.88
Vested	(0.1)	$	38.11
Forfeited	(0.1)	$	32.90
Outstanding at September 30, 2020	0.7	$	31.14

Our performance stock awards and performance share units allow for participants to vest in more or less than the targeted number of shares granted. Some of our awards are currently performing better than targets, while others are performing worse than targets. We currently expect a total of 0.6 million shares with a weighted average fair value per share of $30.51 to vest. At September 30, 2020, there is $11.2 million of unamortized expense relating to unvested performance stock awards and performance share units that is expected to be amortized over a weighted average period of 2.0 years. The forfeitures include performance stock awards and performance share units that vested below target.

Other Expense (Income), Net

9 Months Ended

Sep. 30, 2020

Other Income and Expenses [Abstract]

Other Expense (Income), Net

OTHER EXPENSE (INCOME), NET


	Three Months Ended September 30,						Nine Months Ended September 30,
	2020		2019		2020		2019
Foreign exchange losses, net	$	5.5	$	0.7	$	7.5	$	5.3

Debt extinguishment and refinancing related costs	—		—		2.4		0.2
Other miscellaneous income, net	(3.2)		(2.6)		(9.0)		(9.3)

Total	$	2.3	$	(1.9)	$	0.9	$	(3.8)

Income Taxes

9 Months Ended

Sep. 30, 2020

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

Our effective income tax rates for the nine months ended September 30, 2020 and 2019 are as follows:


	Nine Months Ended September 30,
	2020		2019
Effective Tax Rate	(78.3)	%	19.3	%

The Company's effective tax rate for the periods reflected in the condensed consolidated financial statements are not directly comparable primarily due to the intra-entity asset transfers of certain of its intellectual property and the impacts of certain ongoing tax audits, which occurred during the nine months ended September 30, 2020 and are discussed in further detail below.

On January 1, 2020, we completed an intra-entity transfer of certain intellectual property rights (the “IP”) to our Swiss subsidiary, where our EMEA regional headquarters is located. The transfer of the IP did not result in a taxable gain; however, it did result in step-up of the Swiss tax-deductible basis in the transferred assets and, accordingly, created a temporary difference between the book basis and the tax basis of the IP, which was transferred at fair value. We applied significant judgment when determining the fair value of the IP, which serves as the tax basis of the deferred tax asset. Consequently, this transaction resulted in the recognition of a deferred tax asset at the applicable Swiss tax rate, resulting in a one-time tax benefit of $50.5 million during the nine months ended September 30, 2020. The Company expects to be able to realize the deferred tax assets resulting from these intra-entity asset transfers.

In connection with the income tax audit in Germany for the tax period 2010-2013, the Germany Tax Authority (“GTA”) indicated that it believed that certain positions taken on the 2010-2013 corporate income tax returns were not in compliance with German tax law. While the Company believes our filings were accurate based on the technical merits of our positions, after extensive discussions with the GTA, in March 2020 the Company expressed a willingness to settle with the GTA on certain matters and expects to reach a formal agreement in the coming months. As a result of these changes, the Company recorded a charge to income tax expense of $14.3 million during the nine months ended September 30, 2020. The Company is also currently under audit in Germany for tax years 2014-2017 and is prepared to vigorously defend itself on these matters.

Net Income Per Common Share

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Net Income Per Common Share

NET INCOME PER COMMON SHARE

Basic earnings 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 earnings per common share includes the effect of potential dilution from the hypothetical exercise of outstanding stock options and vesting of restricted shares and performance shares. A reconciliation of our basic and diluted earnings per common share is as follows:


	Three Months Ended September 30,						Nine Months Ended September 30,
(In millions, except per share data)	2020		2019		2020		2019
Net income to common shareholders	$	82.5	$	65.5	$	51.9	$	207.3
Basic weighted average shares outstanding	235.3		233.9		235.1		233.8
Diluted weighted average shares outstanding	236.0		235.5		235.9		235.8
Net income per common share:
Basic net income per share	$	0.35	$	0.28	$	0.22	$	0.89
Diluted net income per share	$	0.35	$	0.28	$	0.22	$	0.88

The number of anti-dilutive shares that have been excluded in the computation of diluted earnings per share for the three and nine months ended September 30, 2020 and 2019 were 2.8 million, 2.9 million, 2.4 million and 2.8 million, respectively.

Accounts and Notes Receivable, Net

9 Months Ended

Sep. 30, 2020

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, and changes in customer payment terms, including the impacts from COVID-19.


	September 30, 2020		December 31, 2019
Accounts receivable - trade, net ⁽¹⁾	$	715.9	$	718.4
Notes receivable	20.2		24.7
Other	88.1		87.0
Total	$	824.2	$	830.1

(1) Allowance for doubtful accounts was $27.2 million and $16.0 million at September 30, 2020 and December 31, 2019, respectively.

Bad debt expense of $2.4 million, $12.8 million, $1.1 million and $3.7 million was included within selling, general and administrative expenses for the three and nine months ended September 30, 2020 and 2019, respectively. The increase in expense for the nine months ended September 30, 2020, was as a result of the increased risk for future credit losses primarily related to the COVID-19 pandemic.

Inventories

9 Months Ended

Sep. 30, 2020

Inventory Disclosure [Abstract]

Inventories

INVENTORIES


	September 30, 2020		December 31, 2019
Finished products	$	299.5	$	327.4
Semi-finished products	90.9		109.9
Raw materials	125.7		133.7
Stores and supplies	20.6		20.6
Total	$	536.7	$	591.6

Inventory reserves were $19.2 million and $13.1 million at September 30, 2020 and December 31, 2019, respectively. The increase in our reserve at September 30, 2020, includes impacts from obsolescence due to a lower demand environment resulting from the COVID-19 pandemic.

Property, Plant and Equipment, Net

9 Months Ended

Sep. 30, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

PROPERTY, PLANT AND EQUIPMENT, NET


	September 30, 2020		December 31, 2019
Property, plant and equipment	$	2,227.6	$	2,231.9
Accumulated depreciation	(1,062.4)		(1,008.9)
Property, plant, and equipment, net	$	1,165.2	$	1,223.0

Depreciation expense amounted to $31.1 million, $104.4 million, $40.2 million and $129.3 million for the three and nine months ended September 30, 2020 and 2019, respectively.

Borrowings

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Borrowings

BORROWINGS

Borrowings are summarized as follows:


	September 30, 2020		December 31, 2019
2024 Dollar Term Loans	$	2,069.3	$	2,387.5
2024 Dollar Senior Notes	500.0		500.0
2024 Euro Senior Notes	391.4		375.2
2025 Euro Senior Notes	525.8		504.0
2027 Dollar Senior Notes	500.0		—
Short-term and other borrowings	114.2		109.0
Unamortized original issue discount	(7.9)		(10.5)
Unamortized deferred financing costs	(33.2)		(31.1)
Total borrowings, net	4,059.6		3,834.1
Less:
Short-term borrowings	24.4		19.6
Current portion of long-term borrowings	24.3		24.3
Long-term debt	$	4,010.9	$	3,790.2

Revolving Credit Facility

At September 30, 2020 and December 31, 2019, letters of credit issued under the Revolving Credit Facility totaled $34.0 million and $38.8 million, respectively, which reduced the availability under the Revolving Credit Facility. Availability under the Revolving Credit Facility was $366.0 million and $361.2 million at September 30, 2020 and December 31, 2019, respectively.

Significant Transactions

During January 2020, we voluntarily prepaid $300.0 million of the outstanding principal on the 2024 Dollar Term Loans. As a result of the prepayment, we recorded a loss on extinguishment of debt of $2.7 million consisting of the write off of unamortized deferred financing costs and original issue discounts of $1.5 million and $1.2 million, respectively.

Issuance of 2027 Senior Notes

During June 2020, Axalta Coating Systems, LLC and Axalta Coating Systems Dutch Holding B B.V. (collectively, the "Issuers"), each an indirect, wholly owned subsidiary of the Company, issued $500.0 million in aggregate principal amount of 4.750% Senior Notes due 2027 (the “2027 Senior Notes”).

The 2027 Senior Notes are fully and unconditionally guaranteed by the Company and each of the Company's existing restricted subsidiaries, subject to certain exceptions.

The indenture governing the 2027 Senior Notes contains covenants that limit the Company’s (and its subsidiaries’) ability to, among other things: (i) incur additional debt or issue certain preferred stock; (ii) pay dividends, redeem stock or make other distributions; (iii) make other restricted payments or investments; (iv) create liens on assets; (v) transfer or sell assets; (vi) create restrictions on payment of dividends or other amounts by the Company to the Company’s restricted subsidiaries; (vii) engage in mergers or consolidations; (viii) engage in certain transactions with affiliates; and (ix) designate the Company’s subsidiaries as unrestricted subsidiaries.

The 2027 Senior Notes were issued at par and are due June 15, 2027. We deferred debt issuance costs of $8.3 million, which are recorded as reductions to long-term borrowings in the condensed consolidated balance sheets and amortized over the life of the issuance. The 2027 Senior Notes bear interest at 4.750% which is payable semi-annually on June 15^th and December 15^th. We have the option to redeem all or part of the 2027 Senior Notes at the following redemption prices (expressed as percentages of principal amount), plus accrued and unpaid interest, if any, on or after June 15^th of the years indicated:


Period	2027 Senior Notes Percentage
2023	102.375	%
2024	101.188	%
2025 and thereafter	100.000	%

Notwithstanding the foregoing, at any time and from time to time prior to June 15, 2023, we may at our option redeem in the aggregate up to 40% of the original aggregate principal amount of the 2027 Senior Notes with the net cash proceeds of one or more Equity Offerings (as defined in the indenture governing the 2027 Senior Notes) at a redemption price of 104.75% plus accrued and unpaid interest, if any, to the redemption date. At least 50% of the original aggregate principal of the notes must remain outstanding after each such redemption.

Upon the occurrence of certain events constituting a change of control, holders of the 2027 Senior Notes have the right to require us to repurchase all or any part of the 2027 Senior Notes at a purchase price equal to 101% of the principal amount plus accrued and unpaid interest, if any, to the repurchase date.

The indebtedness under the 2027 Senior Notes is senior unsecured indebtedness of the Issuers, is senior in right of payment to all future subordinated indebtedness of the Issuers and guarantors, and is equal in right of payment to all existing and future senior indebtedness of the Issuers and guarantors. The 2027 Senior Notes are effectively subordinated to any secured indebtedness of the Issuers and guarantors (including indebtedness outstanding under the Senior Secured Credit Facilities) to the extent of the value of the assets securing such indebtedness.

Future repayments

Below is a schedule of required future repayments of all borrowings outstanding at September 30, 2020.


Remainder of 2020	$	17.8
2021	36.8
2022	54.2
2023	27.2
2024	2,884.7
Thereafter	1,080.0
Total borrowings	4,100.7
Unamortized original issue discount	(7.9)
Unamortized deferred financing costs	(33.2)
Total borrowings, net	$	4,059.6

Financial Instruments, Hedging Activities and Fair Value Measurements

9 Months Ended

Sep. 30, 2020

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.

The table below presents the fair values of our financial instruments measured on a recurring basis by level within the fair value hierarchy at September 30, 2020 and December 31, 2019.


	September 30, 2020														December 31, 2019
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Prepaid expenses and other current assets:

Cross-currency swaps ⁽²⁾	$	—	$	14.3	$	—	$	14.3	$	—	$	14.4	$	—	$	14.4
Foreign currency forward contracts ⁽¹⁾	—		0.1		—		0.1		—		—		—		—
Other assets:


Cross-currency swaps ⁽²⁾	—		—		—		—		—		8.0		—		8.0
Investments in equity securities	0.7		—		—		0.7		0.6		—		—		0.6
Liabilities:
Other accrued liabilities:
Interest rate caps ⁽¹⁾	—		2.0		—		2.0		—		1.3		—		1.3
Interest rate swaps ⁽¹⁾	—		28.6		—		28.6		—		8.9		—		8.9

Other liabilities:
Interest rate caps ⁽¹⁾	—		0.5		—		0.5		—		1.2		—		1.2
Interest rate swaps ⁽¹⁾	—		37.3		—		37.3		—		20.5		—		20.5
Cross-currency swaps ⁽²⁾	—		0.4		—		0.4		—		—		—		—

Long-term borrowings:
2024 Dollar Term Loans	—		2,033.7		—		2,033.7		—		2,396.5		—		2,396.5
2024 Dollar Senior Notes	—		512.6		—		512.6		—		520.2		—		520.2
2024 Euro Senior Notes	—		395.8		—		395.8		—		388.2		—		388.2
2025 Euro Senior Notes	—		529.7		—		529.7		—		520.7		—		520.7
2027 Dollar Senior Notes	—		515.7		—		515.7		—		—		—		—

(1) Cash flow hedge

(2) Net investment hedge

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.

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

Interest Rate Swaps Designated as Cash Flow Hedges

During the three months ended March 31, 2020, we entered into two interest rate swaps with aggregate notional amounts totaling $400.0 million to hedge interest rate exposures associated with the 2024 Dollar Term Loans. Under the terms of the interest rate swap agreements, the Company is required to pay the counterparties a stream of fixed interest payments at rates of 1.61% and 1.18% on $200.0 million of notional value for each instrument, and in-turn, receives variable interest payments based on 3-month LIBOR from the counter-parties. The interest rate swaps are designated as cash flow hedges and expire on December 31, 2022. These interest rate swaps are marked to market at each reporting date and any unrealized gains or losses are included in accumulated other comprehensive loss ("AOCI") and reclassified to interest expense in the same period or periods during which the hedged transactions affect earnings.

Foreign Currency Forward Contracts Designated as Cash Flow Hedges

During the three months ended March 31, 2020, we designated foreign currency forward contracts with a notional value of $5.0 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 gains (losses) included in AOCI for derivative instruments that qualify and have been designated as cash flow and net investment hedges:


	September 30, 2020		December 31, 2019
AOCI:
Interest rate caps (cash flow hedges)	$	3.2	$	3.5
Interest rate swaps (cash flow hedges)	65.9		29.4
Foreign currency forward contracts (cash flow hedges)	0.1		—
Cross-currency swaps (net investment hedges)	(13.9)		(22.4)
Total AOCI	$	55.3	$	10.5

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 nine months ended September 30, 2020 and 2019 for these cash flow and net investment hedges.


		For the Three Months Ended September 30,
		2020						2019
Derivatives in Cash Flow and Net Investment Hedges	Location of Loss Recognized in Income on Derivatives	Net Amount of Loss Recognized in OCI on Derivatives		Amount of Loss (Gain) Recognized in Income		Net Amount of Loss (Gain) Recognized in OCI on Derivatives		Amount of (Gain) Loss Recognized in Income
Interest rate caps	Interest expense, net	$	0.1	$	0.6	$	0.3	$	0.1
Interest rate swaps	Interest expense, net	0.4		7.0		4.8		0.4
Foreign currency forward contracts	Cost of goods sold	0.1		—		—		—
Cross-currency swaps	Interest expense, net	16.9		(3.6)		(24.2)		(3.8)


		For the Nine Months Ended September 30,
		2020						2019
Derivatives in Cash Flow and Net Investment Hedges	Location of Loss (Gain) Recognized in Income on Derivatives	Net Amount of Loss (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 (Gain) Loss Recognized in Income
Interest rate caps	Interest expense, net	$	1.2	$	1.5	$	6.2	$	(1.5)
Interest rate swaps	Interest expense, net	48.0		11.5		32.4		0.5
Foreign currency forward contracts	Cost of goods sold	0.1		—		—		—
Cross-currency swaps	Interest expense, net	(2.5)		(11.0)		(39.1)		(11.0)

Over the next 12 months, we expect losses of $32.5 million pertaining to cash flow hedges to be reclassified from AOCI into earnings, related to our interest rate caps, interest rate swaps, and foreign currency forward contracts.

Derivative Instruments Not Designated as 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 statement of operations.

Fair value gains and losses of derivative contracts, as determined using Level 2 inputs, that were not designated for hedge accounting treatment were 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 September 30,						Nine Months Ended September 30,
				2020		2019		2020		2019

Foreign currency forward contracts	Other income, net	$	(4.4)	$	2.3	$	(5.3)	$	4.1

- 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

9 Months Ended

Sep. 30, 2020

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 Transportation 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 Transportation Coatings segment, we provide advanced coating technologies to OEMs of light and commercial vehicles. These increasingly global customers require a high level of technical support coupled with cost-effective, 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 September 30,						Nine Months Ended September 30,
	2020		2019		2020		2019
Net sales ⁽¹⁾:
Refinish	$	401.7	$	441.5	$	1,031.4	$	1,294.3
Industrial	281.0		282.2		781.1		899.4
Total Net sales Performance Coatings	682.7		723.7		1,812.5		2,193.7
Light Vehicle	276.3		295.7		662.7		917.7
Commercial Vehicle	67.9		87.6		187.9		272.4
Total Net sales Transportation Coatings	344.2		383.3		850.6		1,190.1
Total Net sales	$	1,026.9	$	1,107.0	$	2,663.1	$	3,383.8
Equity in earnings in unconsolidated affiliates:
Performance Coatings	$	0.1	$	0.2	$	0.1	$	0.4
Transportation Coatings	(0.2)		(0.1)		(0.3)		(0.1)
Total	$	(0.1)	$	0.1	$	(0.2)	$	0.3

					September 30, 2020		December 31, 2019
Investment in unconsolidated affiliates:
Performance Coatings					$	2.1	$	2.4
Transportation Coatings					8.2		12.7
Total					$	10.3	$	15.1

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

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


	Three Months Ended September 30,						Nine Months Ended September 30,
	2020		2019		2020		2019
Segment Adjusted EBIT ⁽¹⁾:
Performance Coatings	$	133.9	$	124.9	$	214.8	$	331.1
Transportation Coatings	48.5		37.2		35.0		111.8
Total ⁽²⁾	182.4		162.1		249.8		442.9
Interest expense, net	39.8		40.2		112.4		122.5
Debt extinguishment and refinancing related costs ^(a)	—		—		2.4		0.2
Termination benefits and other employee related costs ^(b)	35.7		29.2		70.4		33.3
Strategic review and retention costs ^(c)	6.9		3.0		25.1		3.8
Offering and transactional costs ^(d)	0.1		0.1		0.3		0.9
Loss (gain) on divestiture and impairments ^(e)	0.3		(0.5)		3.5		3.4
Pension special events ^(f)	(0.7)		—		(2.5)		—
Accelerated depreciation ^(g)	0.4		5.4		8.9		18.2
Indemnity loss (income) ^(h)	0.3		—		0.3		(0.2)

Income before income taxes	$	99.6	$	84.7	$	29.0	$	260.8


(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 Axalta’s 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 the prepayment, restructuring, and refinancing of our indebtedness, which are not considered indicative of our ongoing operating performance.

(b)			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.

(c)			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 which will be earned over a period of 18-24 months. These amounts are not considered indicative of our ongoing operating performance.

(d)			Represents acquisition and divestiture-related expenses, all of which are not considered indicative of our ongoing operating performance.

(e)			Represents expenses and associated changes to estimates related to the sale of our interest in a joint venture business and other impairments, which are not considered indicative of our ongoing operating performance.

(f)			Represents certain defined benefit pension costs associated with special events, including pension curtailments, settlements and special termination benefits, which we do not consider indicative of our ongoing operating performance.

(g)			Represents incremental depreciation expense resulting from truncated useful lives of the assets impacted by our manufacturing footprint assessments, which we do not consider indicative of our ongoing operating performance.

(h)			Represents indemnity loss (income) associated with the acquisition by Axalta of the DuPont Performance Coatings business, which we do not consider indicative of our ongoing operating performance.

Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2020

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 at December 31, 2019	$	(297.0)	$	(69.9)	$	(28.6)	$	(395.5)
Current year deferrals to AOCI	(83.3)		—		(36.3)		(119.6)
Reclassifications from AOCI to Net income	—		(0.4)		1.6		1.2
Net Change	(83.3)		(0.4)		(34.7)		(118.4)
Balance at March 31, 2020	(380.3)		(70.3)		(63.3)		(513.9)
Current year deferrals to AOCI	6.1		—		(5.2)		0.9
Reclassifications from AOCI to Net income	—		0.4		3.0		3.4
Net Change	6.1		0.4		(2.2)		4.3
Balance at June 30, 2020	(374.2)		(69.9)		(65.5)		(509.6)
Current year deferrals to AOCI	33.9		(0.2)		(0.5)		33.2
Reclassifications from AOCI to Net income	—		(0.3)		6.5		6.2
Net Change	33.9		(0.5)		6.0		39.4
Balance at September 30, 2020	$	(340.3)	$	(70.4)	$	(59.5)	$	(470.2)

Included within reclassifications from AOCI to net income for the three and nine months ended September 30, 2020 were net curtailment and settlement impacts of $1.3 million and $3.1 million, respectively. The cumulative income tax benefit related to the adjustments for pension benefits at September 30, 2020 was $27.0 million. The cumulative income tax benefit related to the adjustments for unrealized loss on derivatives at September 30, 2020 was $9.7 million.


	Unrealized Currency Translation Adjustments		Pension Adjustments		Unrealized Gain (Loss) on Derivatives		Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2018	$	(299.4)	$	(36.4)	$	(0.3)	$	(336.1)
Current year deferrals to AOCI	12.8		—		(11.4)		1.4
Reclassifications from AOCI to Net income	—		—		(1.0)		(1.0)
Net Change	12.8		—		(12.4)		0.4
Balance at March 31, 2019	(286.6)		(36.4)		(12.7)		(335.7)
Current year deferrals to AOCI	(5.7)		(0.1)		(17.3)		(23.1)
Reclassifications from AOCI to Net income	2.6		0.5		(0.3)		2.8
Net Change	(3.1)		0.4		(17.6)		(20.3)
Balance at June 30, 2019	(289.7)		(36.0)		(30.3)		(356.0)
Current year deferrals to AOCI	(52.2)		—		(4.4)		(56.6)
Reclassifications from AOCI to Net income	—		0.3		0.5		0.8
Net Change	(52.2)		0.3		(3.9)		(55.8)
Balance at September 30, 2019	$	(341.9)	$	(35.7)	$	(34.2)	$	(411.8)

The cumulative income tax benefit related to the adjustments for pension benefits at September 30, 2019 was $14.1 million. The cumulative income tax benefit related to the adjustments for unrealized loss on derivatives at September 30, 2019 was $5.1 million.

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Reclassifications	Reclassifications The condensed consolidated statements of operations for the three and nine months ended September 30, 2019 have been updated for comparability with the current year presentation to separately present other operating charges as detailed in our annual report on Form 10-K for the year ended December 31, 2019.
Recently Adopted Accounting Guidance and Accounting Guidance Issued But Not Yet Adopted	Recently Adopted Accounting Guidance On January 1, 2020, we adopted Accounting Standards Update ("ASU") 2016-13, “Financial Instruments - Credit Losses” under a modified retrospective approach for all financial assets. ASU 2016-13 replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires considerations of a broader range of reasonable and supportable information to inform credit loss estimates. The provisions of this standard primarily impact the allowance for doubtful accounts on our trade receivables, in which we have applied historical loss percentages, combined with reasonable and supportable forecasts of future losses to the respective aging categories. Adoption of ASU 2016-13 at January 1, 2020 resulted in a one-time loss to retained earnings of $1.5 million on our condensed consolidated balance sheets and statements of shareholders' equity for the nine months ended September 30, 2020. In March 2020, we adopted ASU 2020-04, "Reference Rate Reform" which provides optional expedients exercisable through December 31, 2022 to ease the potential burden in accounting for the effects of reference rate reform on financial reporting. As of September 30, 2020, the expedients provided in this standard do not impact the Company. We will continue to monitor for potential impacts on our financial statements. Accounting Guidance Issued But Not Yet Adopted In December 2019, the FASB issued ASU 2019-12, "Simplifying the Accounting for Income Taxes" as part of its initiative to reduce complexity in accounting standards. The ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The new standard is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Early adoption is permitted. We are currently evaluating the impact of ASU 2019-12 on our financial statements.

Goodwill and Identifiable Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table shows changes in the carrying amount of goodwill from December 31, 2019 to September 30, 2020 by reportable segment:


	Performance Coatings		Transportation Coatings		Total
Balance at December 31, 2019	$	1,130.9	$	78.0	$	1,208.9

Foreign currency translation	34.5		2.4		36.9
Balance at September 30, 2020	$	1,165.4	$	80.4	$	1,245.8

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:


September 30, 2020	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Weighted Average Amortization Periods (years)
Technology	$	551.6	$	(359.0)	$	192.6	10.4
Trademarks - indefinite-lived	273.1		—		273.1		Indefinite
Trademarks - definite-lived	100.7		(34.8)		65.9		16.0
Customer relationships	919.8		(307.6)		612.2		19.0
Other	15.2		(10.4)		4.8		5.0
Total	$	1,860.4	$	(711.8)	$	1,148.6


December 31, 2019	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Weighted Average Amortization Periods (years)
Technology	$	540.2	$	(310.6)	$	229.6	10.4
Trademarks—indefinite-lived	264.9		—		264.9		Indefinite
Trademarks—definite-lived	99.7		(30.1)		69.6		15.8
Customer relationships	923.8		(271.3)		652.5		19.1
Other	15.2		(7.9)		7.3		5.0
Total	$	1,843.8	$	(619.9)	$	1,223.9

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 2020 and each of the succeeding five years is:


Remainder of 2020	$	28.5
2021	113.6
2022	111.4
2023	71.1
2024	66.2
2025	65.5

Restructuring (Tables)

9 Months Ended

Sep. 30, 2020

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

The following table summarizes the activities related to the restructuring reserves and expenses from December 31, 2019 to September 30, 2020:


	2020 Activity
Balance at December 31, 2019	$	78.0
Expenses, net of changes to estimates	67.4
Payments made	(68.5)
Foreign currency translation	2.6
Balance at September 30, 2020	$	79.5

Long-term Employee Benefits (Tables)

9 Months Ended

Sep. 30, 2020

Retirement Benefits [Abstract]

Schedule of Net Benefit Costs

The following table sets forth the components of net periodic benefit cost for the three and nine months ended September 30, 2020 and 2019:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2020		2019		2020		2019
Components of net periodic benefit cost:
Net periodic benefit cost:
Service cost	$	1.8	$	1.8	$	5.5	$	5.4
Interest cost	2.6		3.2		7.2		9.8
Expected return on plan assets	(3.2)		(3.4)		(9.5)		(10.4)
Amortization of actuarial loss, net	0.7		0.5		2.5		1.4

Plan curtailments, settlements and special termination benefits	(0.7)		—		(2.5)		—
Net periodic benefit cost	$	1.2	$	2.1	$	3.2	$	6.2

Stock-based Compensation (Tables)

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Stock Options Roll Forward

A summary of award activity by type for the nine months ended September 30, 2020 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, 2020	3.0	$	25.92
Granted	—	$	—
Exercised	(0.1)	$	13.12
Forfeited ⁽¹⁾	—	$	28.49
Outstanding at September 30, 2020	2.9	$	26.46
Vested and expected to vest at September 30, 2020	2.9	$	26.46	$	4.7	5.03
Exercisable at September 30, 2020	2.3	$	26.21	$	4.7	4.31

(1) Activity during the nine months ended September 30, 2020 rounds to zero.

Schedule of Restricted Stock Units and Restricted Stock Awards Roll Forward


Restricted Stock Awards and Restricted Stock Units	Awards/Units (millions)	Weighted-Average Fair Value
Outstanding at January 1, 2020	1.2	$	28.45
Granted	0.4	$	29.54
Vested	(0.5)	$	28.60
Forfeited	(0.1)	$	28.27
Outstanding at September 30, 2020	1.0	$	28.89

Schedule of Performance Stock Roll Forward


Performance Stock Awards and Performance Share Units	Awards/Units (millions)	Weighted-Average Fair Value
Outstanding at January 1, 2020	0.5	$	32.11
Granted	0.4	$	31.88
Vested	(0.1)	$	38.11
Forfeited	(0.1)	$	32.90
Outstanding at September 30, 2020	0.7	$	31.14

Other Income, Net (Tables)

9 Months Ended

Sep. 30, 2020

Other Income and Expenses [Abstract]

Schedule of Other Nonoperating Income (Expense)


	Three Months Ended September 30,						Nine Months Ended September 30,
	2020		2019		2020		2019
Foreign exchange losses, net	$	5.5	$	0.7	$	7.5	$	5.3

Debt extinguishment and refinancing related costs	—		—		2.4		0.2
Other miscellaneous income, net	(3.2)		(2.6)		(9.0)		(9.3)

Total	$	2.3	$	(1.9)	$	0.9	$	(3.8)

Income Taxes (Tables)

9 Months Ended

Sep. 30, 2020

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

Our effective income tax rates for the nine months ended September 30, 2020 and 2019 are as follows:


	Nine Months Ended September 30,
	2020		2019
Effective Tax Rate	(78.3)	%	19.3	%

Net (Loss) Income Per Common Share (Tables)

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

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


	Three Months Ended September 30,						Nine Months Ended September 30,
(In millions, except per share data)	2020		2019		2020		2019
Net income to common shareholders	$	82.5	$	65.5	$	51.9	$	207.3
Basic weighted average shares outstanding	235.3		233.9		235.1		233.8
Diluted weighted average shares outstanding	236.0		235.5		235.9		235.8
Net income per common share:
Basic net income per share	$	0.35	$	0.28	$	0.22	$	0.89
Diluted net income per share	$	0.35	$	0.28	$	0.22	$	0.88

Accounts and Notes Receivable, Net (Tables)

9 Months Ended

Sep. 30, 2020

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable


	September 30, 2020		December 31, 2019
Accounts receivable - trade, net ⁽¹⁾	$	715.9	$	718.4
Notes receivable	20.2		24.7
Other	88.1		87.0
Total	$	824.2	$	830.1

(1) Allowance for doubtful accounts was $27.2 million and $16.0 million at September 30, 2020 and December 31, 2019, respectively.

Inventories (Tables)

9 Months Ended

Sep. 30, 2020

Inventory Disclosure [Abstract]

Schedule of Inventory, Current


	September 30, 2020		December 31, 2019
Finished products	$	299.5	$	327.4
Semi-finished products	90.9		109.9
Raw materials	125.7		133.7
Stores and supplies	20.6		20.6
Total	$	536.7	$	591.6

Property, Plant and Equipment, Net (Tables)

9 Months Ended

Sep. 30, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment


	September 30, 2020		December 31, 2019
Property, plant and equipment	$	2,227.6	$	2,231.9
Accumulated depreciation	(1,062.4)		(1,008.9)
Property, plant, and equipment, net	$	1,165.2	$	1,223.0

Borrowings (Tables)

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Schedule of Debt

Borrowings are summarized as follows:


	September 30, 2020		December 31, 2019
2024 Dollar Term Loans	$	2,069.3	$	2,387.5
2024 Dollar Senior Notes	500.0		500.0
2024 Euro Senior Notes	391.4		375.2
2025 Euro Senior Notes	525.8		504.0
2027 Dollar Senior Notes	500.0		—
Short-term and other borrowings	114.2		109.0
Unamortized original issue discount	(7.9)		(10.5)
Unamortized deferred financing costs	(33.2)		(31.1)
Total borrowings, net	4,059.6		3,834.1
Less:
Short-term borrowings	24.4		19.6
Current portion of long-term borrowings	24.3		24.3
Long-term debt	$	4,010.9	$	3,790.2

Schedule of Debt Instrument Redemption

We have the option to redeem all or part of the 2027 Senior Notes at the following redemption prices (expressed as percentages of principal amount), plus accrued and unpaid interest, if any, on or after June 15^th of the years indicated:


Period	2027 Senior Notes Percentage
2023	102.375	%
2024	101.188	%
2025 and thereafter	100.000	%

Schedule of Maturities of Long-term Debt

Below is a schedule of required future repayments of all borrowings outstanding at September 30, 2020.


Remainder of 2020	$	17.8
2021	36.8
2022	54.2
2023	27.2
2024	2,884.7
Thereafter	1,080.0
Total borrowings	4,100.7
Unamortized original issue discount	(7.9)
Unamortized deferred financing costs	(33.2)
Total borrowings, net	$	4,059.6

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

9 Months Ended

Sep. 30, 2020

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 September 30, 2020 and December 31, 2019.


	September 30, 2020														December 31, 2019
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Prepaid expenses and other current assets:

Cross-currency swaps ⁽²⁾	$	—	$	14.3	$	—	$	14.3	$	—	$	14.4	$	—	$	14.4
Foreign currency forward contracts ⁽¹⁾	—		0.1		—		0.1		—		—		—		—
Other assets:


Cross-currency swaps ⁽²⁾	—		—		—		—		—		8.0		—		8.0
Investments in equity securities	0.7		—		—		0.7		0.6		—		—		0.6
Liabilities:
Other accrued liabilities:
Interest rate caps ⁽¹⁾	—		2.0		—		2.0		—		1.3		—		1.3
Interest rate swaps ⁽¹⁾	—		28.6		—		28.6		—		8.9		—		8.9

Other liabilities:
Interest rate caps ⁽¹⁾	—		0.5		—		0.5		—		1.2		—		1.2
Interest rate swaps ⁽¹⁾	—		37.3		—		37.3		—		20.5		—		20.5
Cross-currency swaps ⁽²⁾	—		0.4		—		0.4		—		—		—		—

Long-term borrowings:
2024 Dollar Term Loans	—		2,033.7		—		2,033.7		—		2,396.5		—		2,396.5
2024 Dollar Senior Notes	—		512.6		—		512.6		—		520.2		—		520.2
2024 Euro Senior Notes	—		395.8		—		395.8		—		388.2		—		388.2
2025 Euro Senior Notes	—		529.7		—		529.7		—		520.7		—		520.7
2027 Dollar Senior Notes	—		515.7		—		515.7		—		—		—		—

(1) Cash flow hedge

(2) Net investment hedge

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

The following table presents the gains (losses) included in AOCI for derivative instruments that qualify and have been designated as cash flow and net investment hedges:


	September 30, 2020		December 31, 2019
AOCI:
Interest rate caps (cash flow hedges)	$	3.2	$	3.5
Interest rate swaps (cash flow hedges)	65.9		29.4
Foreign currency forward contracts (cash flow hedges)	0.1		—
Cross-currency swaps (net investment hedges)	(13.9)		(22.4)
Total AOCI	$	55.3	$	10.5

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 nine months ended September 30, 2020 and 2019 for these cash flow and net investment hedges.


		For the Three Months Ended September 30,
		2020						2019
Derivatives in Cash Flow and Net Investment Hedges	Location of Loss Recognized in Income on Derivatives	Net Amount of Loss Recognized in OCI on Derivatives		Amount of Loss (Gain) Recognized in Income		Net Amount of Loss (Gain) Recognized in OCI on Derivatives		Amount of (Gain) Loss Recognized in Income
Interest rate caps	Interest expense, net	$	0.1	$	0.6	$	0.3	$	0.1
Interest rate swaps	Interest expense, net	0.4		7.0		4.8		0.4
Foreign currency forward contracts	Cost of goods sold	0.1		—		—		—
Cross-currency swaps	Interest expense, net	16.9		(3.6)		(24.2)		(3.8)


		For the Nine Months Ended September 30,
		2020						2019
Derivatives in Cash Flow and Net Investment Hedges	Location of Loss (Gain) Recognized in Income on Derivatives	Net Amount of Loss (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 (Gain) Loss Recognized in Income
Interest rate caps	Interest expense, net	$	1.2	$	1.5	$	6.2	$	(1.5)
Interest rate swaps	Interest expense, net	48.0		11.5		32.4		0.5
Foreign currency forward contracts	Cost of goods sold	0.1		—		—		—
Cross-currency swaps	Interest expense, net	(2.5)		(11.0)		(39.1)		(11.0)

Derivatives Not Designated as Hedging Instruments

Fair value gains and losses of derivative contracts, as determined using Level 2 inputs, that were not designated for hedge accounting treatment were 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 September 30,						Nine Months Ended September 30,
				2020		2019		2020		2019

Foreign currency forward contracts	Other income, net	$	(4.4)	$	2.3	$	(5.3)	$	4.1

Segments (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table presents relevant information of our reportable segments.


	Three Months Ended September 30,						Nine Months Ended September 30,
	2020		2019		2020		2019
Net sales ⁽¹⁾:
Refinish	$	401.7	$	441.5	$	1,031.4	$	1,294.3
Industrial	281.0		282.2		781.1		899.4
Total Net sales Performance Coatings	682.7		723.7		1,812.5		2,193.7
Light Vehicle	276.3		295.7		662.7		917.7
Commercial Vehicle	67.9		87.6		187.9		272.4
Total Net sales Transportation Coatings	344.2		383.3		850.6		1,190.1
Total Net sales	$	1,026.9	$	1,107.0	$	2,663.1	$	3,383.8
Equity in earnings in unconsolidated affiliates:
Performance Coatings	$	0.1	$	0.2	$	0.1	$	0.4
Transportation Coatings	(0.2)		(0.1)		(0.3)		(0.1)
Total	$	(0.1)	$	0.1	$	(0.2)	$	0.3

					September 30, 2020		December 31, 2019
Investment in unconsolidated affiliates:
Performance Coatings					$	2.1	$	2.4
Transportation Coatings					8.2		12.7
Total					$	10.3	$	15.1

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

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 September 30,						Nine Months Ended September 30,
	2020		2019		2020		2019
Segment Adjusted EBIT ⁽¹⁾:
Performance Coatings	$	133.9	$	124.9	$	214.8	$	331.1
Transportation Coatings	48.5		37.2		35.0		111.8
Total ⁽²⁾	182.4		162.1		249.8		442.9
Interest expense, net	39.8		40.2		112.4		122.5
Debt extinguishment and refinancing related costs ^(a)	—		—		2.4		0.2
Termination benefits and other employee related costs ^(b)	35.7		29.2		70.4		33.3
Strategic review and retention costs ^(c)	6.9		3.0		25.1		3.8
Offering and transactional costs ^(d)	0.1		0.1		0.3		0.9
Loss (gain) on divestiture and impairments ^(e)	0.3		(0.5)		3.5		3.4
Pension special events ^(f)	(0.7)		—		(2.5)		—
Accelerated depreciation ^(g)	0.4		5.4		8.9		18.2
Indemnity loss (income) ^(h)	0.3		—		0.3		(0.2)

Income before income taxes	$	99.6	$	84.7	$	29.0	$	260.8


(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 Axalta’s 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 the prepayment, restructuring, and refinancing of our indebtedness, which are not considered indicative of our ongoing operating performance.

(b)			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.

(c)			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 which will be earned over a period of 18-24 months. These amounts are not considered indicative of our ongoing operating performance.

(d)			Represents acquisition and divestiture-related expenses, all of which are not considered indicative of our ongoing operating performance.

(e)			Represents expenses and associated changes to estimates related to the sale of our interest in a joint venture business and other impairments, which are not considered indicative of our ongoing operating performance.

(f)			Represents certain defined benefit pension costs associated with special events, including pension curtailments, settlements and special termination benefits, which we do not consider indicative of our ongoing operating performance.

(g)			Represents incremental depreciation expense resulting from truncated useful lives of the assets impacted by our manufacturing footprint assessments, which we do not consider indicative of our ongoing operating performance.

(h)			Represents indemnity loss (income) associated with the acquisition by Axalta of the DuPont Performance Coatings business, which we do not consider indicative of our ongoing operating performance.

Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss


	Unrealized Currency Translation Adjustments		Pension Adjustments		Unrealized (Loss) Gain on Derivatives		Accumulated Other Comprehensive (Loss) Income
Balance at December 31, 2019	$	(297.0)	$	(69.9)	$	(28.6)	$	(395.5)
Current year deferrals to AOCI	(83.3)		—		(36.3)		(119.6)
Reclassifications from AOCI to Net income	—		(0.4)		1.6		1.2
Net Change	(83.3)		(0.4)		(34.7)		(118.4)
Balance at March 31, 2020	(380.3)		(70.3)		(63.3)		(513.9)
Current year deferrals to AOCI	6.1		—		(5.2)		0.9
Reclassifications from AOCI to Net income	—		0.4		3.0		3.4
Net Change	6.1		0.4		(2.2)		4.3
Balance at June 30, 2020	(374.2)		(69.9)		(65.5)		(509.6)
Current year deferrals to AOCI	33.9		(0.2)		(0.5)		33.2
Reclassifications from AOCI to Net income	—		(0.3)		6.5		6.2
Net Change	33.9		(0.5)		6.0		39.4
Balance at September 30, 2020	$	(340.3)	$	(70.4)	$	(59.5)	$	(470.2)


	Unrealized Currency Translation Adjustments		Pension Adjustments		Unrealized Gain (Loss) on Derivatives		Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2018	$	(299.4)	$	(36.4)	$	(0.3)	$	(336.1)
Current year deferrals to AOCI	12.8		—		(11.4)		1.4
Reclassifications from AOCI to Net income	—		—		(1.0)		(1.0)
Net Change	12.8		—		(12.4)		0.4
Balance at March 31, 2019	(286.6)		(36.4)		(12.7)		(335.7)
Current year deferrals to AOCI	(5.7)		(0.1)		(17.3)		(23.1)
Reclassifications from AOCI to Net income	2.6		0.5		(0.3)		2.8
Net Change	(3.1)		0.4		(17.6)		(20.3)
Balance at June 30, 2019	(289.7)		(36.0)		(30.3)		(356.0)
Current year deferrals to AOCI	(52.2)		—		(4.4)		(56.6)
Reclassifications from AOCI to Net income	—		0.3		0.5		0.8
Net Change	(52.2)		0.3		(3.9)		(55.8)
Balance at September 30, 2019	$	(341.9)	$	(35.7)	$	(34.2)	$	(411.8)

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020 USD ($)
Accounting Standards Update 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Loss to retained earnings	$ 1.5

Revenue - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Contract with customer, asset	$ 38.5		$ 38.5		$ 37.5
Capitalized contract cost, net	170.7		170.7		191.2
Capitalized contract cost, amortization	16.6	$ 17.7	49.9	$ 50.8
Upfront Incentive Payments	$ 93.9		$ 93.9		$ 79.0

Goodwill and Identifiable Intangible Assets - Schedule of Goodwill (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 1,208.9
Foreign currency translation	36.9
Goodwill, ending balance	1,245.8
Performance Coatings
Goodwill [Roll Forward]
Goodwill, beginning balance	1,130.9
Foreign currency translation	34.5
Goodwill, ending balance	1,165.4
Transportation Coatings
Goodwill [Roll Forward]
Goodwill, beginning balance	78.0
Foreign currency translation	2.4
Goodwill, ending balance	$ 80.4

Goodwill and Identifiable Intangible Assets - Gross Carrying Amounts and Accumulated Amortization of Identifiable Intangible Assets by Major Class (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	$ 1,860.4	$ 1,843.8
Accumulated Amortization	(711.8)	(619.9)
Net Book Value, definite-lived	1,148.6	1,223.9
Trademarks
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Net Book Value, indefinite-lived	273.1	264.9
Technology
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	551.6	540.2
Accumulated Amortization	(359.0)	(310.6)
Net Book Value, definite-lived	$ 192.6	$ 229.6
Weighted Average Amortization Periods (years)	10 years 4 months 24 days	10 years 4 months 24 days
Trademarks
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	$ 100.7	$ 99.7
Accumulated Amortization	(34.8)	(30.1)
Net Book Value, definite-lived	$ 65.9	$ 69.6
Weighted Average Amortization Periods (years)	16 years	15 years 9 months 18 days
Customer relationships
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	$ 919.8	$ 923.8
Accumulated Amortization	(307.6)	(271.3)
Net Book Value, definite-lived	$ 612.2	$ 652.5
Weighted Average Amortization Periods (years)	19 years	19 years 1 month 6 days
Other
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	$ 15.2	$ 15.2
Accumulated Amortization	(10.4)	(7.9)
Net Book Value, definite-lived	$ 4.8	$ 7.3
Weighted Average Amortization Periods (years)	5 years	5 years

Goodwill and Identifiable Intangible Assets - Schedule of Expected Amortization Expense (Details) $ in Millions	Sep. 30, 2020 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2020	$ 28.5
2021	113.6
2022	111.4
2023	71.1
2024	66.2
2025	$ 65.5

Restructuring - Additional Information (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2020 USD ($) Employee	Sep. 30, 2019 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 35.2	$ 29.2	$ 67.4	$ 33.3
Accelerated depreciation	0.4	5.4	$ 8.9	18.2
Payment term (in months)			24 months
Global restructuring, COVID-19 and sustained growth
Restructuring Cost and Reserve [Line Items]
Restructuring charges			$ 52.2
Approximate employee severance and other cash costs	48.2
Number of employees in workforce reduction \| Employee			600
Accelerated depreciation and asset impairment	4.0
Global restructuring, COVID-19 and sustained growth \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected pretax restructuring charges	60.0		$ 60.0
Global restructuring, COVID-19 and sustained growth \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected pretax restructuring charges	65.0		65.0
Closure Of Mechelen, Belgium Manufacturing Facility
Restructuring Cost and Reserve [Line Items]
Accelerated depreciation	$ 0.0	$ 5.4	$ 8.5	$ 18.2

Restructuring - Restructuring Reserve (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring Reserve [Roll Forward]
Beginning balance			$ 78.0
Expenses, net of changes to estimates	$ 35.2	$ 29.2	67.4	$ 33.3
Payments made			(68.5)
Foreign currency translation			2.6
Ending balance	$ 79.5		$ 79.5

Commitments and Contingencies - Additional Information (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Maximum exposure	$ 9,600,000	$ 11,600,000
Outstanding bank guarantees incurred and paid	1,000,000.0
Current carrying value	$ 0	$ 0

Long-term Employee Benefits - Schedule of Net Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Retirement Benefits [Abstract]
Service cost	$ 1.8	$ 1.8	$ 5.5	$ 5.4
Interest cost	2.6	3.2	7.2	9.8
Expected return on plan assets	(3.2)	(3.4)	(9.5)	(10.4)
Amortization of actuarial loss, net	0.7	0.5	2.5	1.4
Plan curtailments, settlements and special termination benefits	(0.7)	0.0	(2.5)	0.0
Net periodic benefit cost	$ 1.2	$ 2.1	$ 3.2	$ 6.2

Stock-based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense (income)	$ 4.7	$ 4.2	$ 15.9	$ 9.5
Stock based compensation tax benefit (expense)	0.1	$ 0.4	1.6	1.5
Cash used to settle award			1.1
Proceeds from stock options exercised			0.3	$ 46.0
Excess tax benefit			0.3
Unrecognized compensation cost	1.1		1.1
Share-based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from stock options exercised			$ 1.4
Period for recognition of compensation not yet recognized			1 year 1 month 6 days
Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period for recognition of compensation not yet recognized			1 year 4 months 24 days
Tax benefit realized on the vesting of restricted stock			$ 0.3
Compensation not yet recognized, share-based awards other than options	12.4		$ 12.4
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period for recognition of compensation not yet recognized			2 years
Compensation not yet recognized, share-based awards other than options	$ 11.2		$ 11.2
Performance stock awards expected to vest (in shares)	0.6		0.6
Weighted average fair value per share of performance stock awards expected to vest (in usd per share)	$ 30.51		$ 30.51

Stock-based Compensation - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2020
Awards (in millions)
Beginning Balance (in shares)	3.0
Granted (in shares)	0.0
Exercised (in shares)	(0.1)
Forfeited (in shares)	0.0
Ending Balance (in shares)	2.9
Weighted- Average Exercise Price
Beginning Balance (in usd per share)	$ 25.92
Granted (in usd per share)	0
Exercised (in usd per share)	13.12
Forfeited (in usd per share)	28.49
Ending Balance (in usd per share)	$ 26.46
Vested and Expected to Vest
Vested and expected to vest, awards (in shares)	2.9
Vested and expected to vest, weighted average exercise price (in usd per share)	$ 26.46
Vested and expected to vest, aggregate intrinsic value	$ 4.7
Vested and expected to vest, weighted average contractual life (in years)	5 years 10 days
Exercisable
Exercisable, awards (in shares)	2.3
Exercisable, weighted average exercise price (in usd per share)	$ 26.21
Exercisable, aggregate intrinsic value	$ 4.7
Exercisable, weighted average contractual life (in years)	4 years 3 months 21 days

Stock-based Compensation - Schedule of Restricted Stock Awards and Restricted Stock Units (Details) - Restricted Stock and Restricted Stock Units shares in Millions	9 Months Ended
	Sep. 30, 2020 $ / shares shares
Awards/Units (millions)
Beginning Balance (in shares) \| shares	1.2
Granted (in shares) \| shares	0.4
Vested (in shares) \| shares	(0.5)
Forfeited (in shares) \| shares	(0.1)
Ending Balance (in shares) \| shares	1.0
Weighted- Average Exercise Price
Beginning Balance (in usd per share) \| $ / shares	$ 28.45
Granted (in usd per share) \| $ / shares	29.54
Vested (in usd per share) \| $ / shares	28.60
Forfeited (in usd per share) \| $ / shares	28.27
Ending Balance (in usd per share) \| $ / shares	$ 28.89

Stock-based Compensation - Schedule of Performance Shares Award Outstanding Activity (Details) - Performance Shares shares in Millions	9 Months Ended
	Sep. 30, 2020 $ / shares shares
Awards/Units (millions)
Beginning Balance (in shares) \| shares	0.5
Granted (in shares) \| shares	0.4
Vested (in shares) \| shares	(0.1)
Forfeited (in shares) \| shares	(0.1)
Ending Balance (in shares) \| shares	0.7
Weighted- Average Exercise Price
Beginning Balance (in usd per share) \| $ / shares	$ 32.11
Granted (in usd per share) \| $ / shares	31.88
Vested (in usd per share) \| $ / shares	38.11
Forfeited (in usd per share) \| $ / shares	32.90
Ending Balance (in usd per share) \| $ / shares	$ 31.14

Other Income, Net - Schedule of Other Non-operating Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Other Income and Expenses [Abstract]
Foreign exchange losses, net	$ 5.5	$ 0.7	$ 7.5	$ 5.3
Debt extinguishment and refinancing related costs	0.0	0.0	2.4	0.2
Other miscellaneous income, net	(3.2)	(2.6)	(9.0)	(9.3)
Total	$ 2.3	$ (1.9)	$ 0.9	$ (3.8)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Effective Tax Rate			(78.30%)	19.30%
Tax Benefit on step-up value			$ 50.5
income tax settlement [Line Items]
Income Tax settlement	$ 17.1	$ 18.3	(22.7)	$ 50.4
Settlement with Taxing Authority
income tax settlement [Line Items]
Income Tax settlement			$ 14.3

Net (Loss) Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Net income to common shareholders	$ 82.5	$ 65.5	$ 51.9	$ 207.3
Basic weighted average shares outstanding (in shares)	235.3	233.9	235.1	233.8
Diluted weighted average shares outstanding (in shares)	236.0	235.5	235.9	235.8
Net income per common share:
Basic net income per share (in dollars per share)	$ 0.35	$ 0.28	$ 0.22	$ 0.89
Diluted net income per share (in dollars per share)	$ 0.35	$ 0.28	$ 0.22	$ 0.88
Antidilutive securities excluded from computation of earnings per share (in shares)	2.8	2.4	2.9	2.8

- Definition

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

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+ 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.

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-URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1337-109256

Reference 7: 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(21))
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227

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 http://asc.fasb.org/extlink&oid=117326831&loc=SL5780133-109256

Reference 9: 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(19))
-URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263

+ Details

- Definition

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

+ References + Details

Accounts and Notes Receivable, Net - Schedule of Accounts, Notes, Loans, and Financing Receivable (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Receivables [Abstract]
Accounts receivable - trade, net	$ 715.9	$ 718.4
Notes receivable	20.2	24.7
Other	88.1	87.0
Total	824.2	830.1
Allowance for doubtful accounts	$ 27.2	$ 16.0

Accounts and Notes Receivable, Net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Receivables [Abstract]
Bad debt expense net of recoveries	$ 2.4	$ 1.1	$ 12.8	$ 3.7

Inventories - Schedule of Inventory (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Finished products	$ 299.5	$ 327.4
Semi-finished products	90.9	109.9
Raw materials	125.7	133.7
Stores and supplies	20.6	20.6
Total Inventories	$ 536.7	$ 591.6

Inventories - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Inventory reserves	$ 19.2	$ 13.1

Property, Plant and Equipment, Net - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Property, plant and equipment	$ 2,227.6	$ 2,231.9
Accumulated depreciation	(1,062.4)	(1,008.9)
Property, plant, and equipment, net	$ 1,165.2	$ 1,223.0

Property, Plant and Equipment, Net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 31.1	$ 40.2	$ 104.4	$ 129.3

Borrowings - Schedule of Debt (Details) - USD ($) $ in Millions	Sep. 30, 2020	Jan. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Short-term and other borrowings	$ 114.2		$ 109.0
Unamortized original issue discount	(7.9)		(10.5)
Unamortized deferred financing costs	(33.2)		(31.1)
Total borrowings, net	4,059.6		3,834.1
Short-term borrowings	24.4		19.6
Current portion of long-term borrowings	24.3		24.3
Long-term debt	4,010.9		3,790.2
2024 Dollar Term Loans
Debt Instrument [Line Items]
Term loan	2,069.3		2,387.5
2024 Dollar Senior Notes
Debt Instrument [Line Items]
Senior Notes	500.0		500.0
2024 Euro Senior Notes
Debt Instrument [Line Items]
Senior Notes	391.4		375.2
Unamortized original issue discount		$ (1.2)
2025 Euro Senior Notes
Debt Instrument [Line Items]
Senior Notes	525.8		504.0
2027 Dollar Senior Notes
Debt Instrument [Line Items]
Senior Notes	$ 500.0		$ 0.0

Borrowings - Additional Information (Details) - USD ($)	1 Months Ended	9 Months Ended
Borrowings - Additional Information (Details) - USD ($)	Jan. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Unamortized original issue discount		$ 7,900,000		$ 10,500,000
2024 Euro Senior Notes
Debt Instrument [Line Items]
Repurchased face amount	$ 300,000,000.0
Loss on extinguishment of debt	2,700,000
Write off of deferred debt issuance cost	1,500,000
Unamortized original issue discount	$ 1,200,000
2027 Dollar Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount issued			$ 500,000,000.0
Senior note stated interest rate			4.75%
Debt issuance costs			$ 8,300,000
Percent of principal required to be outstanding		50.00%
Redemption price, percentage if change in control occurs		101.00%
2027 Dollar Senior Notes \| Present through June 15, 2023
Debt Instrument [Line Items]
Aggregate percentage of principal amount redeemed		40.00%
Redemption price		104.75%
Revolving Credit Facility
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 34,000,000.0		38,800,000
Line of credit facility, remaining borrowing capacity		$ 366,000,000.0		$ 361,200,000

Borrowings - Senior Notes (Details) - 2027 Dollar Senior Notes	9 Months Ended
	Sep. 30, 2020
2023
Debt Instrument [Line Items]
Redemption price	102.375%
2024
Debt Instrument [Line Items]
Redemption price	101.188%
2025 and thereafter
Debt Instrument [Line Items]
Redemption price	100.00%

Borrowings - Schedule of Maturities of Long-term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Remainder of 2020	$ 17.8
2021	36.8
2022	54.2
2023	27.2
2024	2,884.7
Thereafter	1,080.0
Total borrowings	4,100.7
Unamortized original issue discount	(7.9)	$ (10.5)
Unamortized deferred financing costs	(33.2)	(31.1)
Total borrowings, net	$ 4,059.6	$ 3,834.1

Financial Instruments, Hedging Activities and Fair Value Measurements - Schedule of Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in equity securities	$ 0.7	$ 0.6
Long-term borrowings \| 2024 Dollar Term Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans payable, fair value	2,033.7	2,396.5
Long-term borrowings \| 2024 Dollar Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	512.6	520.2
Long-term borrowings \| 2024 Euro Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	395.8	388.2
Long-term borrowings \| 2025 Euro Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	529.7	520.7
Long-term borrowings \| 2027 Dollar Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	515.7	0.0
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	14.3	14.4
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	8.0
Cross-currency swaps \| Other liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0.4	0.0
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
Interest rate caps \| Other accrued liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	2.0	1.3
Interest rate caps \| Other liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0.5	1.2
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	28.6	8.9
Interest rate swaps \| Other liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	37.3	20.5
Fair Value, Inputs, Level 1 \| Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in equity securities	0.7	0.6
Fair Value, Inputs, 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
Fair Value, Inputs, Level 1 \| Long-term borrowings \| 2024 Dollar Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0.0	0.0
Fair Value, Inputs, Level 1 \| Long-term borrowings \| 2024 Euro Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0.0	0.0
Fair Value, Inputs, 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
Fair Value, Inputs, 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
Fair Value, Inputs, 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
Fair Value, Inputs, 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
Fair Value, Inputs, Level 1 \| Cross-currency 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
Fair Value, Inputs, 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
Fair Value, Inputs, Level 1 \| Interest rate caps \| 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
Fair Value, Inputs, Level 1 \| Interest rate caps \| 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
Fair Value, Inputs, 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
Fair Value, Inputs, 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
Fair Value, Inputs, 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
Fair Value, Inputs, 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	2,033.7	2,396.5
Fair Value, Inputs, Level 2 \| Long-term borrowings \| 2024 Dollar Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	512.6	520.2
Fair Value, Inputs, Level 2 \| Long-term borrowings \| 2024 Euro Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	395.8	388.2
Fair Value, Inputs, 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	529.7	520.7
Fair Value, Inputs, 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	515.7	0.0
Fair Value, Inputs, 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	14.3	14.4
Fair Value, Inputs, 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	0.0	8.0
Fair Value, Inputs, Level 2 \| Cross-currency swaps \| Other liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0.4	0.0
Fair Value, Inputs, 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
Fair Value, Inputs, Level 2 \| Interest rate caps \| Other accrued liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	2.0	1.3
Fair Value, Inputs, Level 2 \| Interest rate caps \| Other liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0.5	1.2
Fair Value, Inputs, 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	28.6	8.9
Fair Value, Inputs, 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	37.3	20.5
Fair Value, Inputs, 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
Fair Value, Inputs, 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
Fair Value, Inputs, Level 3 \| Long-term borrowings \| 2024 Dollar Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0.0	0.0
Fair Value, Inputs, Level 3 \| Long-term borrowings \| 2024 Euro Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0.0	0.0
Fair Value, Inputs, 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
Fair Value, Inputs, 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
Fair Value, Inputs, 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
Fair Value, Inputs, 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
Fair Value, Inputs, Level 3 \| Cross-currency 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
Fair Value, Inputs, 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
Fair Value, Inputs, Level 3 \| Interest rate caps \| 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
Fair Value, Inputs, Level 3 \| Interest rate caps \| 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
Fair Value, Inputs, 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
Fair Value, Inputs, 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

Financial Instruments, Hedging Activities and Fair Value Measurements - Additional Information (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020 USD ($)	Mar. 31, 2020 USD ($) interest_rate_swap
Derivatives, Fair Value [Line Items]
Cash flow hedge loss to be reclassified within twelve months	$ 32.5
Interest rate swaps
Derivatives, Fair Value [Line Items]
Number of interest rate swaps \| interest_rate_swap		2
Derivative, notional amount		$ 400.0
Interest rate swaps \| Interest Rate Swap 1
Derivatives, Fair Value [Line Items]
Derivative, notional amount		$ 200.0
Derivative, fixed interest rate		1.61%
Interest rate swaps \| Interest Rate Swap 2
Derivatives, Fair Value [Line Items]
Derivative, notional amount		$ 200.0
Derivative, fixed interest rate		1.18%
Foreign currency forward contracts
Derivatives, Fair Value [Line Items]
Derivative, notional amount		$ 5.0

Financial Instruments, Hedging Activities and Fair Value Measurements - Accumulated Other Comprehensive (Loss) Income (Details) - Fair Value, Inputs, Level 2 - USD ($) $ in Millions	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AOCI	$ 10.5	$ 55.3
Cash flow hedging \| Interest rate caps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AOCI		3.2	$ 3.5
Cash flow hedging \| Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AOCI	29.4	65.9
Cash flow hedging \| Foreign currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AOCI	0.0	0.1
Net investment hedging \| Cross-currency swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AOCI	$ (22.4)	$ (13.9)

Financial Instruments, Hedging Activities and Fair Value Measurements - Derivative Locations and Amounts Recognized (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Amount of Loss Recognized in OCI on Derivatives	$ 7.0	$ (4.6)	$ (36.3)	$ (39.5)
Interest rate caps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Amount of Loss Recognized in OCI on Derivatives	0.1	0.3	1.2	6.2
Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Amount of Loss Recognized in OCI on Derivatives	0.4	4.8	48.0	32.4
Foreign currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Amount of Loss Recognized in OCI on Derivatives	0.1	0.0
Cross-currency swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Amount of Loss Recognized in OCI on Derivatives, Cross-currency swaps	16.9	(24.2)	(2.5)	(39.1)
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	0.6	0.1	1.5	(1.5)
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	7.0	0.4	11.5	0.5
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	(4.4)	2.3	(5.3)	4.1
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, Cross-currency swaps	(3.6)	(3.8)	(11.0)	(11.0)
Cost of goods sold \| Foreign currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Amount of Loss Recognized in OCI on Derivatives			0.1	0.0
Amount of Loss (Gain) Recognized in Income	$ 0.0	$ 0.0	$ 0.0	$ 0.0

Segments - Additional Information (Details)	9 Months Ended
Segments - Additional Information (Details)	Sep. 30, 2020 Segment
Segment Reporting [Abstract]
Number of operating segments	2
Number of reportable segments	2

Segments - Schedule of Segment Reporting Information, by Segment (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Net sales	$ 1,026,900,000	$ 1,107,000,000.0	$ 2,663,100,000	$ 3,383,800,000
Equity in earnings in unconsolidated affiliates	(100,000)	100,000	(200,000)	300,000
Investment in unconsolidated affiliates	10,300,000		10,300,000		$ 15,100,000
Intercompany sales between segments			0
Performance Coatings
Segment Reporting Information [Line Items]
Net sales	682,700,000	723,700,000	1,812,500,000	2,193,700,000
Equity in earnings in unconsolidated affiliates	100,000	200,000	100,000	400,000
Investment in unconsolidated affiliates	2,100,000		2,100,000		2,400,000
Transportation Coatings
Segment Reporting Information [Line Items]
Net sales	344,200,000	383,300,000	850,600,000	1,190,100,000
Equity in earnings in unconsolidated affiliates	(200,000)	(100,000)	(300,000)	(100,000)
Investment in unconsolidated affiliates	8,200,000		8,200,000		$ 12,700,000
Refinish \| Performance Coatings
Segment Reporting Information [Line Items]
Net sales	401,700,000	441,500,000	1,031,400,000	1,294,300,000
Industrial \| Performance Coatings
Segment Reporting Information [Line Items]
Net sales	281,000,000.0	282,200,000	781,100,000	899,400,000
Light Vehicle \| Transportation Coatings
Segment Reporting Information [Line Items]
Net sales	276,300,000	295,700,000	662,700,000	917,700,000
Commercial Vehicle \| Transportation Coatings
Segment Reporting Information [Line Items]
Net sales	$ 67,900,000	$ 87,600,000	$ 187,900,000	$ 272,400,000

Segments - Reconciliation of Operating Profit (Loss) from Segments to Consolidated (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBIT	$ 182.4	$ 162.1	$ 249.8	$ 442.9
Interest expense, net	39.8	40.2	112.4	122.5
Debt extinguishment and refinancing related costs	0.0	0.0	2.4	0.2
Termination benefits and other employee related costs	35.7	29.2	70.4	33.3
Strategic review and retention costs	6.9	3.0	25.1	3.8
Offering and transactional costs	0.1	0.1	0.3	0.9
Loss (gain) on divestiture and impairments	0.3	(0.5)	3.5	3.4
Pension special events	(0.7)	0.0	(2.5)	0.0
Accelerated depreciation	0.4	5.4	8.9	18.2
Indemnity loss (income)	0.3	0.0	0.3	(0.2)
Income before income taxes	99.6	84.7	29.0	260.8
Performance Coatings
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBIT	133.9	124.9	214.8	331.1
Transportation Coatings
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBIT	$ 48.5	$ 37.2	$ 35.0	$ 111.8
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					9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI, beginning balance			$ (395.5)
AOCI, ending balance	$ (470.2)
Unrealized Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI, beginning balance	(374.2)	$ (380.3)	(297.0)	$ (286.6)	$ (299.4)	$ (299.4)
Current year deferrals to AOCI	33.9	6.1	(83.3)	(5.7)	12.8	(52.2)
Reclassifications from AOCI to Net income	0.0	0.0	0.0	2.6	0.0	0.0
Net Change	33.9	6.1	(83.3)	(3.1)	12.8	(52.2)
AOCI, ending balance	(340.3)	(374.2)	(380.3)	(289.7)	(286.6)	(341.9)
Pension Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI, beginning balance	(69.9)	(70.3)	(69.9)	(36.4)	(36.4)	(36.4)
Current year deferrals to AOCI	(0.2)	0.0	0.0	(0.1)	0.0	0.0
Reclassifications from AOCI to Net income	(0.3)	0.4	(0.4)	0.5	0.0	0.3
Net Change	(0.5)	0.4	(0.4)	0.4	0.0	0.3
AOCI, ending balance	(70.4)	(69.9)	(70.3)	(36.0)	(36.4)	(35.7)
Unrealized (Loss) Gain on Derivatives
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI, beginning balance	(65.5)	(63.3)	(28.6)	(12.7)	(0.3)	(0.3)
Current year deferrals to AOCI	(0.5)	(5.2)	(36.3)	(17.3)	(11.4)	(4.4)
Reclassifications from AOCI to Net income	6.5	3.0	1.6	(0.3)	(1.0)	0.5
Net Change	6.0	(2.2)	(34.7)	(17.6)	(12.4)	(3.9)
AOCI, ending balance	(59.5)	(65.5)	(63.3)	(30.3)	(12.7)	(34.2)
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI, beginning balance	(509.6)	(513.9)	(395.5)	(335.7)	(336.1)	(336.1)
Current year deferrals to AOCI	33.2	0.9	(119.6)	(23.1)	1.4	(56.6)
Reclassifications from AOCI to Net income	6.2	3.4	1.2	2.8	(1.0)	0.8
Net Change	39.4	4.3	(118.4)	(20.3)	0.4	(55.8)
AOCI, ending balance	$ (470.2)	$ (509.6)	$ (513.9)	$ (356.0)	$ (335.7)	$ (411.8)

Accumulated Other Comprehensive Loss - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2019
Equity [Abstract]
Curtailment gain (loss)	$ 1.3	$ 3.1
Cumulative income tax expense (benefit) on pension and postretirement benefit plans	27.0	27.0	$ 14.1
Cumulative income tax expense (benefit) on derivatives	$ 9.7	$ 9.7	$ 5.1

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (1,500,000)
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(700,000)
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(3,700,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(3,700,000)
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(1,500,000)
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (700,000)