Axalta Coating Systems (AXTA) 10-Q 6 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	Apr. 30, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 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		235,268,510
Entity Central Index Key	0001616862
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus (i.e. Q1,Q2,Q3,FY)	Q1
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Net sales	$ 983.5	$ 1,119.3
Cost of goods sold	646.8	751.3
Selling, general and administrative expenses	195.4	215.6
Other operating charges	31.6	7.1
Research and development expenses	16.6	18.2
Amortization of acquired intangibles	28	28.5
Income from operations	65.1	98.6
Interest expense, net	36.5	41.3
Other expense (income), net	0.8	(1)
Income before income taxes	27.8	58.3
(Benefit) provision for income taxes	(24.6)	14.2
Net income	52.4	44.1
Less: Net income attributable to noncontrolling interests	0.2	0.7
Net income attributable to controlling interests	$ 52.2	$ 43.4
Basic net income (loss) per share (dollars per share)	$ 0.22	$ 0.19
Diluted net income (loss) per share (dollars per share)	$ 0.22	$ 0.18

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 52.4	$ 44.1
Other comprehensive loss, before tax:
Foreign currency translation adjustments	(86.5)	13.3
Unrealized loss on derivatives	(40.7)	(14.6)
Unrealized (loss) gain on pension plan obligations	(0.2)	0.5
Other comprehensive loss, before tax	(127.4)	(0.8)
Income tax benefit related to items of other comprehensive loss	(5.8)	(1.7)
Other comprehensive (loss) income, net of tax	(121.6)	0.9
Comprehensive (loss) income	(69.2)	45
Less: Comprehensive (loss) income attributable to noncontrolling interests	(3)	1.2
Comprehensive (loss) income attributable to controlling interests	$ (66.2)	$ 43.8

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 657.2	$ 1,017.5
Restricted cash	2.8	3
Accounts and notes receivable, net	777.6	830.1
Inventories	596.1	591.6
Prepaid expenses and other current assets	155.6	131.2
Total current assets	2,189.3	2,573.4
Property, plant and equipment, net	1,163.1	1,223
Goodwill	1,197.3	1,208.9
Identifiable intangibles, net	1,179.1	1,223.9
Other assets	661.9	588.8
Total assets	6,390.7	6,818
Current liabilities:
Accounts payable	489.8	483.7
Current portion of borrowings	40.2	43.9
Other accrued liabilities	477.2	545.3
Total current liabilities	1,007.2	1,072.9
Long-term borrowings	3,479.5	3,790.2
Accrued pensions	275.4	285.2
Deferred Income Tax Liabilities, Net	108.6	115.5
Other liabilities	179.2	144.6
Total liabilities	5,049.9	5,408.4
Commitments and contingencies
Shareholders’ equity:
Common shares, $1.00 par, 1,000.0 shares authorized, 250.5 and 250.1 shares issued at March 31, 2020 and December 31, 2019, respectively	250.4	249.9
Capital in excess of par	1,478.1	1,474.1
Retained earnings	493.9	443.2
Treasury shares, at cost, 15.2 shares at March 31, 2020 and December 31, 2019	(417.5)	(417.5)
Accumulated other comprehensive loss	(513.9)	(395.5)
Total Axalta shareholders’ equity	1,291	1,354.2
Noncontrolling interests	49.8	55.4
Total shareholders’ equity	1,340.8	1,409.6
Total liabilities and shareholders’ equity	$ 6,390.7	$ 6,818

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares shares in Millions	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 1	$ 1
Common shares authorized (in shares)	1,000	1,000
Common shares issued (in shares)	250.5	250.1
Treasury shares, at cost	15.2	15.2

Condensed Consolidated Statem_3

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	44.1			43.4			0.7
Net realized and unrealized loss on derivatives, net of tax benefit	(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 (loss) income	45			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
Noncontrolling Interest, Increase from acquired subsidiaries	(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	1,431.6	241.3	(378)	(335.7)	73.4
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	52.4			52.2			0.2
Net realized and unrealized loss on derivatives, net of tax benefit	(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 (loss) income	(69.2)			52.2		(118.4)	(3)
Recognition of stock-based compensation	$ 5.1		5.1
Shares issued under compensation plans (in shares)	0	0.4
Shares issued under compensation plans	$ (1.1)	$ 0.5	(1.6)
Noncontrolling Interest, Increase from acquired subsidiaries	(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

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Shareholders’ Equity (Unaudited) Condensed Consolidated Statements of Changes in Shareholders’ Equity (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Stockholders' Equity [Abstract]
Net realized and unrealized loss on derivatives, net of tax (benefit)	$ (6)	$ (2.2)
Long-term employee benefit plans, net of (benefit) expense	0.2	0.5
Foreign currency translation, net of tax	$ 0	$ 0

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating activities:
Net income	$ 52.4	$ 44.1
Adjustment to reconcile net income to cash used for operating activities:
Depreciation and amortization	86.6	91.6
Amortization of deferred financing costs and original issue discount	2.2	2.2
Debt extinguishment and refinancing related costs	2.4	0
Deferred income taxes	(45.7)	0.4
Realized and unrealized foreign exchange losses, net	3.7	0.9
Stock-based compensation	5.1	6.7
Divestitures and impairment charges	0.5	5.2
Interest income on swaps designated as net investment hedges	(3.7)	(3.5)
Other non-cash, net	(1.9)	(0.3)
Changes in operating assets and liabilities:
Trade accounts and notes receivable	5.4	(90.4)
Inventories	(27.1)	(22.2)
Prepaid expenses and other assets	(38.2)	(60.5)
Accounts payable	29	35.4
Other accrued liabilities	(73.3)	(69.2)
Other liabilities	1.8	1.7
Cash used for operating activities	(0.8)	(57.9)
Investing activities:
Acquisitions, net of cash acquired	0	(1.7)
Purchase of property, plant and equipment	(22.7)	(20.5)
Interest proceeds on swaps designated as net investment hedges	3.7	3.5
Other investing activities, net	0.4	(0.1)
Cash used for investing activities	(18.6)	(18.8)
Financing activities:
Payments on short-term borrowings	(10.6)	(11.3)
Payments on long-term borrowings	(307.2)	(7.3)
Financing-related costs	0	(0.9)
Purchases of common stock	0	(65.7)
Net cash flows associated with stock-based awards	(1.1)	11.4
Purchase of noncontrolling interests	(1.6)	(26.9)
Other financing activities, net	(0.8)	(1.1)
Cash used for financing activities	(321.3)	(101.8)
Decrease in cash	(340.7)	(178.5)
Effect of exchange rate changes on cash	(19.8)	0.8
Cash at beginning of period	1,020.5	696.4
Cash at end of period	660	518.7
Cash at end of period reconciliation:
Cash and cash equivalents	657.2	501.1
Restricted cash	2.8	2.8
Cash and restricted cash held for sale	$ 0	$ 14.8

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation and Summary of Significant Accounting Policies (Notes)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Basis of Accounting [Text Block]	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 March 31, 2020 and December 31, 2019 , the results of operations, comprehensive income (loss), changes in shareholders' equity and cash flows for the three months ended March 31, 2020 and 2019 . 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 months ended March 31, 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 months ended March 31, 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 three months ended March 31, 2020. On March 12, 2020, we adopted ASU 2020-04, "Reference Rate Reform" which provides optional expedients exercisable from March 12, 2020 to December 31, 2022 to ease the potential burden in accounting for the effects of reference rate reform on financial reporting. As of March 31, 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

Revenue Revenue

Revenue Revenue	3 Months Ended
	Mar. 31, 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 March 31, 2020 and December 31, 2019 were $36.7 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 March 31, 2020 and December 31, 2019 , the total carrying value of BIPs were $191.4 million and $191.2 million , respectively, and are presented within other assets on the condensed consolidated balance sheets. For the three months ended March 31, 2020 and 2019 , $16.9 million and $17.1 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 $96.4 million and $79.0 million at March 31, 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 Intan

Goodwill and Identifiable Intangible Assets	3 Months Ended
	Mar. 31, 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 March 31, 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 (11.0 ) (0.6 ) (11.6 ) Balance at March 31, 2020 $ 1,119.9 $ 77.4 $ 1,197.3 Identifiable Intangible Assets The following tables summarize the gross carrying amounts and accumulated amortization of identifiable intangible assets by major class: March 31, 2020 Gross Carrying Amount Accumulated Amortization Net Book Value Weighted Average Amortization Periods (years) Technology $ 537.1 $ (321.9 ) $ 215.2 10.4 Trademarks - indefinite-lived 263.1 — 263.1 Indefinite Trademarks - definite-lived 98.8 (31.5 ) 67.3 15.8 Customer relationships 903.8 (276.8 ) 627.0 19.0 Other 15.2 (8.7 ) 6.5 5.0 Total $ 1,818.0 $ (638.9 ) $ 1,179.1 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 $ 85.1 2021 111.1 2022 108.9 2023 69.9 2024 65.1 2025 64.5

Restructuring

Restructuring	3 Months Ended
	Mar. 31, 2020
Restructuring and Related Activities [Abstract]
Restructuring	RESTRUCTURING In accordance with the applicable guidance for ASC 712, Nonretirement Postemployment Benefits , we accounted for termination benefits and recognized liabilities when the loss was considered probable that employees were entitled to benefits and the amounts could be reasonably estimated. We have incurred costs in connection with involuntary termination benefits associated with our corporate-related initiatives and cost-saving opportunities associated with our Axalta Way initiatives. During the three months ended March 31, 2020 and 2019 , we incurred restructuring costs, net of changes to estimates, of $18.5 million and $1.3 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 completed within 12 to 24 months from the balance sheet date. The following table summarizes the activities related to the restructuring reserves and expenses from December 31, 2019 to March 31, 2020 : 2020 Activity Balance at December 31, 2019 $ 78.0 Expenses, net of changes to estimates 18.5 Payments made (13.5 ) Foreign currency translation (0.9 ) Balance at March 31, 2020 $ 82.1 The impacts to pre-tax earnings from incremental accelerated depreciation resulting from the previously announced closure of our manufacturing facility in Mechelen, Belgium, for the three months ended March 31, 2020 and 2019 were $8.1 million and $6.1 million , respectively, which were recorded to cost of goods sold on the condensed consolidated statements of operations.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 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 March 31, 2020 and December 31, 2019 , we had outstanding bank guarantees of $11.0 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. At March 31, 2020 , we recorded a liability related to our outstanding bank guarantees of $1.0 million . We did no t have any liabilities related to our outstanding bank guarantees recorded at 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 condition or cash flows on a consolidated annual basis but, however, 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 amounts 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, however, could have a material adverse impact in a particular quarterly reporting period.

Long-term Employee Benefits

Long-term Employee Benefits	3 Months Ended
	Mar. 31, 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 months ended March 31, 2020 and 2019 : Three Months Ended March 31, 2020 2019 Components of net periodic benefit cost: Net periodic benefit cost: Service cost $ 1.8 $ 1.9 Interest cost 2.3 3.2 Expected return on plan assets (3.2 ) (3.5 ) Amortization of actuarial loss, net 1.0 0.5 Plan curtailments (1.2 ) — Net periodic benefit cost $ 0.7 $ 2.1 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

Stock-based Compensation	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock-based Compensation	STOCK-BASED COMPENSATION During the three months ended March 31, 2020 and 2019 , we recognized expenses of $5.1 million and $6.7 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. We recognized tax benefits of $0.2 million and $1.3 million for the three months ended March 31, 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 employee's tax portion of certain vestings in the amount of $1.4 million . A summary of award activity by type for the three months ended March 31, 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 (1) — $ 15.63 Forfeited (1) — $ 29.87 Outstanding at March 31, 2020 3.0 $ 25.99 Vested and expected to vest at March 31, 2020 3.0 $ 25.99 $ 3.6 5.48 Exercisable at March 31, 2020 2.4 $ 25.58 $ 3.6 4.68 (1) Activity during the three months ended March 31, 2020 rounds to zero. Cash received by the Company upon exercise of options for the three months ended March 31, 2020 was $0.3 million . No excess tax benefits or shortfall expenses were recorded related to these exercises. At March 31, 2020 , there is $2.0 million of unrecognized expense relating to unvested stock options that is expected to be amortized over a weighted average period of 1.4 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 $ 29.73 Vested (0.4 ) $ 28.36 Forfeited (1) — $ 27.65 Outstanding at March 31, 2020 1.2 $ 28.99 (1) Activity during the three months ended March 31, 2020 rounds to zero. Tax shortfall expenses on the vesting of restricted stock and restricted stock units during the three months ended March 31, 2020 was $0.2 million . At March 31, 2020 , there is $20.6 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 1.6 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 ) $ 33.81 Outstanding at March 31, 2020 0.7 $ 31.15 At March 31, 2020 , there is $9.1 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 2.5 years . The forfeitures include performance stock awards and performance share units that vested below target.

Other (Income) Expense, Net

Other (Income) Expense, Net	3 Months Ended
	Mar. 31, 2020
Other Income and Expenses [Abstract]
Other (Income) Expense, Net	OTHER EXPENSE (INCOME), NET Three Months Ended March 31, 2020 2019 Foreign exchange losses, net $ 2.3 $ 2.4 Debt extinguishment and refinancing related costs 2.4 — Other miscellaneous income, net (3.9 ) (3.4 ) Total $ 0.8 $ (1.0 )

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Our effective income tax rates for the three months ended March 31, 2020 and 2019 are as follows: Three Months Ended March 31, 2020 2019 Effective Tax Rate (88.5 )% 24.3 % 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 three months ended March 31, 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 three months ended March 31, 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 disagrees with the conclusions of the GTA based on the technical merits of our positions, after extensive discussions with the GTA and to avoid a potentially long and costly litigation process, 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 three months ended March 31, 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. In April 2020, we became aware of a potential new interpretation of a non-U.S. tax law and its application to certain transactions that was not previously reasonably knowable by us. We are evaluating this new information and the effect, if any, on our tax positions. The potential impact, if any, on our financial statements is not yet estimable at this time, but would be adverse and could be material.

Earnings (Loss) Per Common Shar

Earnings (Loss) Per Common Share	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Earnings (Loss) 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 March 31, (In millions, except per share data) 2020 2019 Net income to common shareholders $ 52.2 $ 43.4 Basic weighted average shares outstanding 234.9 234.1 Diluted weighted average shares outstanding 235.9 236.6 Net income per common share: Basic net income per share $ 0.22 $ 0.19 Diluted net income per share $ 0.22 $ 0.18 The number of anti-dilutive shares that have been excluded in the computation of diluted earnings per share for the three months ended March 31, 2020 and 2019 were 2.6 million and 2.9 million

Accounts and Notes Receivable,

Accounts and Notes Receivable, Net	3 Months Ended
	Mar. 31, 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. March 31, 2020 December 31, 2019 Accounts receivable - trade, net (1) $ 661.7 $ 718.4 Notes receivable 26.3 24.7 Other 89.6 87.0 Total $ 777.6 $ 830.1 (1) Allowance for doubtful accounts was $18.2 million and $16.0 million at March 31, 2020 and December 31, 2019 , respectively. Bad debt expense of $3.4 million and $1.0 million was included within selling, general and administrative expenses for the three months ended March 31, 2020 and 2019 , respectively.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
Inventories	INVENTORIES March 31, 2020 December 31, 2019 Finished products $ 338.2 $ 327.4 Semi-finished products 103.4 109.9 Raw materials 134.2 133.7 Stores and supplies 20.3 20.6 Total $ 596.1 $ 591.6

Property, Plant and Equipment,

Property, Plant and Equipment, Net	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net	PROPERTY, PLANT AND EQUIPMENT, NET March 31, 2020 December 31, 2019 Property, plant and equipment $ 2,178.8 $ 2,231.9 Accumulated depreciation (1,015.7 ) (1,008.9 ) Property, plant, and equipment, net $ 1,163.1 $ 1,223.0 Depreciation expense amounted to $41.6 million and $45.4 million for the three months ended March 31, 2020 and 2019 , respectively.

Borrowings

Borrowings	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Borrowings	BORROWINGS Borrowings are summarized as follows: March 31, 2020 December 31, 2019 2024 Dollar Term Loans $ 2,081.4 $ 2,387.5 2024 Dollar Senior Notes 500.0 500.0 2024 Euro Senior Notes 371.5 375.2 2025 Euro Senior Notes 499.0 504.0 Short-term and other borrowings 104.7 109.0 Unamortized original issue discount (8.8 ) (10.5 ) Unamortized deferred financing costs (28.1 ) (31.1 ) Total borrowings 3,519.7 3,834.1 Less: Short-term borrowings 15.9 19.6 Current portion of long-term borrowings 24.3 24.3 Long-term debt $ 3,479.5 $ 3,790.2 Revolving Credit Facility At March 31, 2020 and December 31, 2019 , letters of credit issued under the Revolving Credit Facility totaled $38.7 million and $38.8 million , respectively, which reduced the availability under the Revolving Credit Facility. Availability under the Revolving Credit Facility was $361.3 million and $361.2 million at March 31, 2020 and December 31, 2019 , respectively. Significant Transactions On January 11, 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. Future repayments Below is a schedule of required future repayments of all borrowings outstanding at March 31, 2020 . Remainder of 2020 $ 32.8 2021 26.7 2022 54.2 2023 27.1 2024 2,864.8 Thereafter 551.0 Total $ 3,556.6

Financial Instruments, Hedging

Financial Instruments, Hedging Activities and Fair Value Measurements	3 Months Ended
	Mar. 31, 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, 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 and cross-currency swaps 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 March 31, 2020 and December 31, 2019 . March 31, 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) $ — $ 14.5 $ — $ 14.5 $ — $ 14.4 $ — $ 14.4 Foreign currency forward contracts (1) (3) — — — — — — — — Other assets: Cross-currency swaps (2) — 26.7 — 26.7 — 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) — 22.5 — 22.5 — 8.9 — 8.9 Other liabilities: Interest rate caps (1) — 1.5 — 1.5 — 1.2 — 1.2 Interest rate swaps (1) — 46.8 — 46.8 — 20.5 — 20.5 Long-term borrowings: 2024 Dollar Senior Notes — 489.0 — 489.0 — 520.2 — 520.2 2024 Euro Senior Notes — 337.9 — 337.9 — 388.2 — 388.2 2025 Euro Senior Notes — 455.5 — 455.5 — 520.7 — 520.7 2024 Dollar Term Loans — 1,717.2 — 1,717.2 — 2,396.5 — 2,396.5 (1) Cash flow hedge (2) Net investment hedge (3) Balance at March 31, 2020 rounds to zero. 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 counter-parties a stream of fixed interest payments at rates of 1.61% and 1.18% on $200.0 million of notional 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: March 31, 2020 December 31, 2019 AOCI: Interest rate caps (cash flow hedges) $ 4.3 $ 3.5 Interest rate swaps (cash flow hedges) 69.3 29.4 Foreign currency forward contracts (cash flow hedges) (1) — — Cross-currency swaps (net investment hedges) (41.2 ) (22.4 ) Total AOCI $ 32.4 $ 10.5 (1) Balance at March 31, 2020 rounds to zero. 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 months ended March 31, 2020 and 2019 for these cash flow and net investment hedges. For the Three Months Ended March 31, 2020 2019 Derivatives in Cash Flow and Net Investment Hedges Location of (Gain) Loss Recognized in Income on Derivatives Net Amount of (Gain) Loss Recognized in OCI on Derivatives Amount of (Gain) Loss Recognized in Income Net Amount of (Gain) Loss Recognized in OCI on Derivatives Amount of (Gain) Loss Recognized in Income Interest rate caps Interest expense, net $ 1.1 $ 0.3 $ 2.5 $ (1.1 ) Interest rate swaps Interest expense, net 41.5 1.6 11.0 (0.1 ) Foreign currency forward contracts (1) Cost of goods sold — — — — Cross-currency swaps Interest expense, net (22.5 ) (3.7 ) (13.3 ) (3.6 ) (1) Activity during the three months ended March 31, 2020 rounds to zero. Over the next 12 months, we expect losses of $27.1 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 Cash Flow Hedges We periodically enter into foreign currency forward and option contracts to reduce market risk and hedge our balance sheet exposures and cash flows for subsidiaries with exposures denominated in currencies different from the functional currency of the relevant subsidiary. These contracts have not been designated as hedges and all gains and losses are marked to market through other expense (income), net in the condensed consolidated 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 (Gain) Loss Recognized in Income on Derivatives Three Months Ended March 31, 2020 2019 Foreign currency forward contracts Other expense (income), net $ (1.7 ) $ 1.5

Segments

Segments	3 Months Ended
	Mar. 31, 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 March 31, 2020 2019 Net sales (1) : Refinish $ 367.8 $ 405.5 Industrial 279.9 307.8 Total Net sales Performance Coatings 647.7 713.3 Light Vehicle 260.1 315.9 Commercial Vehicle 75.7 90.1 Total Net sales Transportation Coatings 335.8 406.0 Total Net sales $ 983.5 $ 1,119.3 Equity in earnings in unconsolidated affiliates: Performance Coatings $ 0.1 $ 0.1 Transportation Coatings 0.2 (0.4 ) Total $ 0.3 $ (0.3 ) March 31, 2020 December 31, 2019 Investment in unconsolidated affiliates: Performance Coatings $ 2.0 $ 2.4 Transportation Coatings 12.8 12.7 Total $ 14.8 $ 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 March 31, 2020 2019 Segment Adjusted EBIT (1) : Performance Coatings $ 79.4 $ 78.6 Transportation Coatings 25.8 34.2 Total (2) 105.2 112.8 Interest expense, net 36.5 41.3 Debt extinguishment and refinancing related costs (a) 2.4 — Termination benefits and other employee related costs (b) 19.5 1.3 Strategic review and retention costs (c) 11.5 — Offering and transactional costs (d) 0.1 0.6 Loss on divestiture and impairment (e) 0.5 5.2 Pension special event (f) (1.2 ) — Accelerated depreciation (g) 8.1 6.1 Income before income taxes $ 27.8 $ 58.3 (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 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 recently concluded comprehensive review of strategic alternatives, 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 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, 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.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	ACCUMULATED OTHER COMPREHENSIVE LOSS Unrealized Currency Translation Adjustments Pension Adjustments Unrealized Gain (Loss) on Derivatives Accumulated Other Comprehensive Income (Loss) 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 ) Included within reclassifications from AOCI to Net income for the three months ended March 31, 2020 was $1.2 million of curtailment gains. The cumulative income tax benefit related to the adjustments for pension benefits at March 31, 2020 was $26.8 million . The cumulative income tax benefit related to the adjustments for unrealized loss on derivatives at March 31, 2020 was $10.3 million . Unrealized Currency Translation Adjustments Pension Adjustments Unrealized Gain (Loss) on Derivatives Accumulated 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 ) The cumulative income tax benefit related to the adjustments for pension benefits at March 31, 2019 was $13.9 million . The cumulative income tax benefit related to the adjustments for unrealized loss on derivatives at March 31, 2019 was $1.7 million .

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies Recent Accounting Guidance (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	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 three months ended March 31, 2020. On March 12, 2020, we adopted ASU 2020-04, "Reference Rate Reform" which provides optional expedients exercisable from March 12, 2020 to December 31, 2022 to ease the potential burden in accounting for the effects of reference rate reform on financial reporting. As of March 31, 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 Int_2

Goodwill and Identifiable Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 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 March 31, 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 (11.0 ) (0.6 ) (11.6 ) Balance at March 31, 2020 $ 1,119.9 $ 77.4 $ 1,197.3
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: March 31, 2020 Gross Carrying Amount Accumulated Amortization Net Book Value Weighted Average Amortization Periods (years) Technology $ 537.1 $ (321.9 ) $ 215.2 10.4 Trademarks - indefinite-lived 263.1 — 263.1 Indefinite Trademarks - definite-lived 98.8 (31.5 ) 67.3 15.8 Customer relationships 903.8 (276.8 ) 627.0 19.0 Other 15.2 (8.7 ) 6.5 5.0 Total $ 1,818.0 $ (638.9 ) $ 1,179.1 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 $ 85.1 2021 111.1 2022 108.9 2023 69.9 2024 65.1 2025 64.5

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Mar. 31, 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 March 31, 2020 : 2020 Activity Balance at December 31, 2019 $ 78.0 Expenses, net of changes to estimates 18.5 Payments made (13.5 ) Foreign currency translation (0.9 ) Balance at March 31, 2020 $ 82.1

Long-term Employee Benefits (Ta

Long-term Employee Benefits (Tables)	3 Months Ended
	Mar. 31, 2020
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs	The following table sets forth the components of net periodic benefit cost for the three months ended March 31, 2020 and 2019 : Three Months Ended March 31, 2020 2019 Components of net periodic benefit cost: Net periodic benefit cost: Service cost $ 1.8 $ 1.9 Interest cost 2.3 3.2 Expected return on plan assets (3.2 ) (3.5 ) Amortization of actuarial loss, net 1.0 0.5 Plan curtailments (1.2 ) — Net periodic benefit cost $ 0.7 $ 2.1

Stock-based Compensation (Table

Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Stock Options Roll Forward	A summary of award activity by type for the three months ended March 31, 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 (1) — $ 15.63 Forfeited (1) — $ 29.87 Outstanding at March 31, 2020 3.0 $ 25.99 Vested and expected to vest at March 31, 2020 3.0 $ 25.99 $ 3.6 5.48 Exercisable at March 31, 2020 2.4 $ 25.58 $ 3.6 4.68 (1) Activity during the three months ended March 31, 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 $ 29.73 Vested (0.4 ) $ 28.36 Forfeited (1) — $ 27.65 Outstanding at March 31, 2020 1.2 $ 28.99 (1) Activity during the three months ended March 31, 2020 rounds to zero.
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 ) $ 33.81 Outstanding at March 31, 2020 0.7 $ 31.15

Other (Income) Expense, Net (Ta

Other (Income) Expense, Net (Tables)	3 Months Ended
	Mar. 31, 2020
Other Income and Expenses [Abstract]
Schedule of Other Nonoperating Income (Expense)	Three Months Ended March 31, 2020 2019 Foreign exchange losses, net $ 2.3 $ 2.4 Debt extinguishment and refinancing related costs 2.4 — Other miscellaneous income, net (3.9 ) (3.4 ) Total $ 0.8 $ (1.0 )

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	Our effective income tax rates for the three months ended March 31, 2020 and 2019 are as follows: Three Months Ended March 31, 2020 2019 Effective Tax Rate (88.5 )% 24.3 %

Earnings (Loss) Per Common Sh_2

Earnings (Loss) Per Common Share (Tables)	3 Months Ended
	Mar. 31, 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 March 31, (In millions, except per share data) 2020 2019 Net income to common shareholders $ 52.2 $ 43.4 Basic weighted average shares outstanding 234.9 234.1 Diluted weighted average shares outstanding 235.9 236.6 Net income per common share: Basic net income per share $ 0.22 $ 0.19 Diluted net income per share $ 0.22 $ 0.18

Accounts and Notes Receivable_2

Accounts and Notes Receivable, Net (Tables)	3 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	March 31, 2020 December 31, 2019 Accounts receivable - trade, net (1) $ 661.7 $ 718.4 Notes receivable 26.3 24.7 Other 89.6 87.0 Total $ 777.6 $ 830.1 (1) Allowance for doubtful accounts was $18.2 million and $16.0 million at March 31, 2020 and December 31, 2019 , respectively.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	March 31, 2020 December 31, 2019 Finished products $ 338.2 $ 327.4 Semi-finished products 103.4 109.9 Raw materials 134.2 133.7 Stores and supplies 20.3 20.6 Total $ 596.1 $ 591.6

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	March 31, 2020 December 31, 2019 Property, plant and equipment $ 2,178.8 $ 2,231.9 Accumulated depreciation (1,015.7 ) (1,008.9 ) Property, plant, and equipment, net $ 1,163.1 $ 1,223.0

Borrowings (Tables)

Borrowings (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of Debt	Borrowings are summarized as follows: March 31, 2020 December 31, 2019 2024 Dollar Term Loans $ 2,081.4 $ 2,387.5 2024 Dollar Senior Notes 500.0 500.0 2024 Euro Senior Notes 371.5 375.2 2025 Euro Senior Notes 499.0 504.0 Short-term and other borrowings 104.7 109.0 Unamortized original issue discount (8.8 ) (10.5 ) Unamortized deferred financing costs (28.1 ) (31.1 ) Total borrowings 3,519.7 3,834.1 Less: Short-term borrowings 15.9 19.6 Current portion of long-term borrowings 24.3 24.3 Long-term debt $ 3,479.5 $ 3,790.2
Schedule of Maturities of Long-term Debt	Below is a schedule of required future repayments of all borrowings outstanding at March 31, 2020 . Remainder of 2020 $ 32.8 2021 26.7 2022 54.2 2023 27.1 2024 2,864.8 Thereafter 551.0 Total $ 3,556.6

Financial Instruments, Hedgin_2

Financial Instruments, Hedging Activities and Fair Value Measurements Financial Instruments, Hedging Activities and Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	The table below presents the fair values of our financial instruments measured on a recurring basis by level within the fair value hierarchy at March 31, 2020 and December 31, 2019 . March 31, 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) $ — $ 14.5 $ — $ 14.5 $ — $ 14.4 $ — $ 14.4 Foreign currency forward contracts (1) (3) — — — — — — — — Other assets: Cross-currency swaps (2) — 26.7 — 26.7 — 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) — 22.5 — 22.5 — 8.9 — 8.9 Other liabilities: Interest rate caps (1) — 1.5 — 1.5 — 1.2 — 1.2 Interest rate swaps (1) — 46.8 — 46.8 — 20.5 — 20.5 Long-term borrowings: 2024 Dollar Senior Notes — 489.0 — 489.0 — 520.2 — 520.2 2024 Euro Senior Notes — 337.9 — 337.9 — 388.2 — 388.2 2025 Euro Senior Notes — 455.5 — 455.5 — 520.7 — 520.7 2024 Dollar Term Loans — 1,717.2 — 1,717.2 — 2,396.5 — 2,396.5 (1) Cash flow hedge (2) Net investment hedge (3) Balance at March 31, 2020 rounds to zero.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	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: March 31, 2020 December 31, 2019 AOCI: Interest rate caps (cash flow hedges) $ 4.3 $ 3.5 Interest rate swaps (cash flow hedges) 69.3 29.4 Foreign currency forward contracts (cash flow hedges) (1) — — Cross-currency swaps (net investment hedges) (41.2 ) (22.4 ) Total AOCI $ 32.4 $ 10.5 (1) Balance at March 31, 2020 rounds to zero.
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]	The following tables set forth the locations and amounts recognized during the three months ended March 31, 2020 and 2019 for these cash flow and net investment hedges. For the Three Months Ended March 31, 2020 2019 Derivatives in Cash Flow and Net Investment Hedges Location of (Gain) Loss Recognized in Income on Derivatives Net Amount of (Gain) Loss Recognized in OCI on Derivatives Amount of (Gain) Loss Recognized in Income Net Amount of (Gain) Loss Recognized in OCI on Derivatives Amount of (Gain) Loss Recognized in Income Interest rate caps Interest expense, net $ 1.1 $ 0.3 $ 2.5 $ (1.1 ) Interest rate swaps Interest expense, net 41.5 1.6 11.0 (0.1 ) Foreign currency forward contracts (1) Cost of goods sold — — — — Cross-currency swaps Interest expense, net (22.5 ) (3.7 ) (13.3 ) (3.6 ) (1) Activity during the three months ended March 31, 2020 rounds to zero.
Derivatives Not Designated as Hedging Instruments [Table Text Block]	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 (Gain) Loss Recognized in Income on Derivatives Three Months Ended March 31, 2020 2019 Foreign currency forward contracts Other expense (income), net $ (1.7 ) $ 1.5

Segments (Tables)

Segments (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table presents relevant information of our reportable segments. Three Months Ended March 31, 2020 2019 Net sales (1) : Refinish $ 367.8 $ 405.5 Industrial 279.9 307.8 Total Net sales Performance Coatings 647.7 713.3 Light Vehicle 260.1 315.9 Commercial Vehicle 75.7 90.1 Total Net sales Transportation Coatings 335.8 406.0 Total Net sales $ 983.5 $ 1,119.3 Equity in earnings in unconsolidated affiliates: Performance Coatings $ 0.1 $ 0.1 Transportation Coatings 0.2 (0.4 ) Total $ 0.3 $ (0.3 ) March 31, 2020 December 31, 2019 Investment in unconsolidated affiliates: Performance Coatings $ 2.0 $ 2.4 Transportation Coatings 12.8 12.7 Total $ 14.8 $ 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 March 31, 2020 2019 Segment Adjusted EBIT (1) : Performance Coatings $ 79.4 $ 78.6 Transportation Coatings 25.8 34.2 Total (2) 105.2 112.8 Interest expense, net 36.5 41.3 Debt extinguishment and refinancing related costs (a) 2.4 — Termination benefits and other employee related costs (b) 19.5 1.3 Strategic review and retention costs (c) 11.5 — Offering and transactional costs (d) 0.1 0.6 Loss on divestiture and impairment (e) 0.5 5.2 Pension special event (f) (1.2 ) — Accelerated depreciation (g) 8.1 6.1 Income before income taxes $ 27.8 $ 58.3 (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 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 recently concluded comprehensive review of strategic alternatives, 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 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, 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.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income	Unrealized Currency Translation Adjustments Pension Adjustments Unrealized Gain (Loss) on Derivatives Accumulated Other Comprehensive Income (Loss) 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 ) Unrealized Currency Translation Adjustments Pension Adjustments Unrealized Gain (Loss) on Derivatives Accumulated 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 )

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Accounting Standards Update 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	$ 1.5

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Contract with customer, asset	$ 36.7		$ 37.5
Capitalized contract cost, net	191.4		191.2
Capitalized contract cost, amortization	16.9	$ 17.1
Upfront Incentive Payments	$ 96.4		$ 79

Goodwill and Identifiable Int_3

Goodwill and Identifiable Intangible Assets - Schedule of Goodwill (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 1,208.9
Foreign currency translation	(11.6)
Goodwill, ending balance	1,197.3
Performance Coatings [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	1,130.9
Foreign currency translation	(11)
Goodwill, ending balance	1,119.9
Transportation Coatings [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	78
Foreign currency translation	(0.6)
Goodwill, ending balance	$ 77.4

Goodwill and Identifiable Int_4

Goodwill and Identifiable Intangible Assets - Gross Carrying Amounts and Accumulated Amortization of Identifiable Intangible Assets by Major Class (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	$ 1,818	$ 1,843.8
Accumulated Amortization	(638.9)	(619.9)
Net Book Value, definite-lived	1,179.1	1,223.9
Trademarks [Member]
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Net Book Value, indefinite-lived	263.1	264.9
Technology-Based Intangible Assets [Member]
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	537.1	540.2
Accumulated Amortization	(321.9)	(310.6)
Net Book Value, definite-lived	$ 215.2	$ 229.6
Weighted Average Amortization Periods (years)	10 years 4 months 24 days	10 years 4 months 24 days
Trademarks [Member]
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	$ 98.8	$ 99.7
Accumulated Amortization	(31.5)	(30.1)
Net Book Value, definite-lived	$ 67.3	$ 69.6
Weighted Average Amortization Periods (years)	15 years 9 months 18 days	15 years 9 months 18 days
Customer Relationships [Member]
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	$ 903.8	$ 923.8
Accumulated Amortization	(276.8)	(271.3)
Net Book Value, definite-lived	$ 627	$ 652.5
Weighted Average Amortization Periods (years)	19 years	19 years 1 month 6 days
Other Intangible Assets [Member]
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	$ 15.2	$ 15.2
Accumulated Amortization	(8.7)	(7.9)
Net Book Value, definite-lived	$ 6.5	$ 7.3
Weighted Average Amortization Periods (years)	5 years	5 years

Goodwill and Identifiable Int_5

Goodwill and Identifiable Intangible Assets - Schedule of Expected Amortization Expense (Details) $ in Millions	Mar. 31, 2020USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2020	$ 85.1
2021	111.1
2022	108.9
2023	69.9
2024	65.1
2025	$ 64.5

Restructuring - Additional Inf

Restructuring - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 18.5	$ 1.3
Accelerated depreciation	$ 8.1	$ 6.1
Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Payment term (in months)	12 months
Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Payment term (in months)	24 months

Restructuring - Restructuring

Restructuring - Restructuring Reserve (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Restructuring Reserve [Roll Forward]
Beginning balance	$ 78
Restructuring Charges	18.5	$ 1.3
Payments made	(13.5)
Foreign currency translation	(0.9)
Ending balance	$ 82.1

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Maximum exposure	$ 11,000,000	$ 11,600,000
Guarantor obligation liability	$ 1,000,000	$ 0

Long-term Employee Benefits -

Long-term Employee Benefits - Schedule of Net Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net periodic benefit cost:
Service cost	$ 1.8	$ 1.9
Interest cost	2.3	3.2
Expected return on plan assets	(3.2)	(3.5)
Amortization of actuarial loss, net	1	0.5
Plan curtailments	(1.2)	0
Net periodic benefit cost	$ 0.7	$ 2.1

Stock-based Compensation - Add

Stock-based Compensation - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 5.1	$ 6.7
Tax benefit from compensation expense	0.2	$ 1.3
Cash used to settle award	1.4
Share-based Payment Arrangement, Exercise of Option, Tax Benefit	0
Unrecognized compensation cost	2
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from stock options exercised	$ 0.3
Period for recognition of compensation not yet recognized	1 year 4 months 24 days
Restricted Stock and Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period for recognition of compensation not yet recognized	1 year 7 months 6 days
Tax benefit realized on the vesting of restricted stock	$ 0.2
Compensation not yet recognized, share-based awards other than options	$ 20.6
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period for recognition of compensation not yet recognized	2 years 6 months
Compensation not yet recognized, share-based awards other than options	$ 9.1

Stock-based Compensation - Sch

Stock-based Compensation - Schedule of Stock Option Activity (Details) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)$ / sharesshares
Awards (in millions)
Beginning Balance (in shares) | shares	3
Granted (in shares) | shares	0
Exercised (in shares) | shares	0
Forfeited (in shares) | shares	0
Ending Balance (in shares) | shares	3
Weighted Average Exercise Price (usd per share)
Beginning Balance (usd per share) | $ / shares	$ 25.92
Granted (usd per share) | $ / shares	0
Exercised (usd per share) | $ / shares	15.63
Forfeited (usd per share) | $ / shares	29.87
Ending Balance (usd per share) | $ / shares	$ 25.99
Vested and Expected to Vest
Vested and expected to vest (in shares) | shares	3
Vested and expected to vest, weighted average exercise price (usd per share) | $ / shares	$ 25.99
Vested and expected to vest, aggregate intrinsic value | $	$ 3.6
Vested and expected to vest, weighted average contractual life (in years)	5 years 5 months 23 days
Exercisable
Exercisable (in shares) | shares	2.4
Exercisable (usd per share) | $ / shares	$ 25.58
Exercisable, aggregate intrinsic value | $	$ 3.6
Exercisable, weighted average contractual life (in years)	4 years 8 months 4 days

Stock-based Compensation - S_2

Stock-based Compensation - Schedule of Restricted Stock Awards and Restricted Stock Units (Details) - Restricted Stock and Restricted Stock Units [Member] shares in Millions	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Awards (in millions)
Beginning Balance (in shares) | shares	1.2
Granted (in shares) | shares	0.4
Vested (in shares) | shares	(0.4)
Forfeited (in shares) | shares	0
Ending Balance (in shares) | shares	1.2
Weighted Average Exercise Price (usd per share)
Beginning Balance (usd per share) | $ / shares	$ 28.45
Granted (usd per share) | $ / shares	29.73
Vested (usd per share) | $ / shares	28.36
Forfeited (usd per share) | $ / shares	27.65
Ending Balance (usd per share) | $ / shares	$ 28.99

Stock-based Compensation - S_3

Stock-based Compensation - Schedule of Performance Shares Award Outstanding Activity (Details) - Performance Shares [Member] shares in Millions	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Awards (in 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 (usd per share)
Beginning Balance (usd per share) | $ / shares	$ 32.11
Granted (usd per share) | $ / shares	31.88
Vested (usd per share) | $ / shares	38.11
Forfeited (usd per share) | $ / shares	33.81
Ending Balance (usd per share) | $ / shares	$ 31.15

Other (Income) Expense, Net -

Other (Income) Expense, Net - Schedule of Other Non-operating Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Other Income and Expenses [Abstract]
Foreign exchange losses, net	$ 2.3	$ 2.4
Debt extinguishment and refinancing related costs	2.4	0
Other miscellaneous income, net	(3.9)	(3.4)
Total	$ 0.8	$ (1)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Effective tax rate	(88.50%)	24.30%
Tax Benefit on step-up value	$ 50.5
income tax settlement [Line Items]
Income Tax settlement	(24.6)	$ 14.2
Settlement with Taxing Authority [Member]
income tax settlement [Line Items]
Income Tax settlement	$ 14.3

Earnings (Loss) Per Common Sh_3

Earnings (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Net income to common shareholders	$ 52.2	$ 43.4
Basic weighted average shares outstanding	234.9	234.1
Diluted weighted average shares outstanding	235.9	236.6
Net income per common share:
Basic earnings per share	$ 0.22	$ 0.19
Diluted earnings per share	$ 0.22	$ 0.18
Antidilutive securities excluded from computation of earnings per share (in shares)	2.6	2.9

Accounts and Notes Receivable_3

Accounts and Notes Receivable, Net - Schedule of Accounts, Notes, Loans, and Financing Receivable (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Receivables [Abstract]
Accounts receivable - trade, net (1)	$ 661.7	$ 718.4
Notes receivable	26.3	24.7
Other	89.6	87
Total	777.6	830.1
Accounts Receivable, Allowance for Credit Loss, Current	$ 18.2	$ 16

Accounts and Notes Receivable_4

Accounts and Notes Receivable, Net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Receivables [Abstract]
Bad Debt Expense Net Of Recoveries	$ 3.4	$ 1

Inventories - Schedule of Inve

Inventories - Schedule of Inventory (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Finished products	$ 338.2	$ 327.4
Semi-finished products	103.4	109.9
Raw materials	134.2	133.7
Stores and supplies	20.3	20.6
Inventories	$ 596.1	$ 591.6

Property, Plant and Equipment_3

Property, Plant and Equipment, Net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation	$ 41.6	$ 45.4

Property, Plant and Equipment_4

Property, Plant and Equipment, Net - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Property, plant and equipment	$ 2,178.8	$ 2,231.9
Accumulated depreciation	(1,015.7)	(1,008.9)
Property, plant, and equipment, net	$ 1,163.1	$ 1,223

Borrowings - Schedule of Debt

Borrowings - Schedule of Debt (Details) - USD ($) $ in Millions	Mar. 31, 2020	Jan. 11, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Short-term and other borrowings	$ 104.7		$ 109
Unamortized original issue discount	(8.8)		(10.5)
Unamortized deferred financing costs	(28.1)		(31.1)
Debt and Lease Obligation	3,519.7		3,834.1
Short-term borrowings	15.9		19.6
Current portion of long-term borrowings	24.3		24.3
Long-term debt	3,479.5		3,790.2
2024 Dollar Term Loans [Member]
Debt Instrument [Line Items]
Term loan	2,081.4		2,387.5
2024 Dollar Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	500		500
2024 Euro Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	371.5		375.2
Unamortized original issue discount		$ (1.2)
2025 Euro Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	$ 499		$ 504

Borrowings - Additional Inform

Borrowings - Additional Information (Details) - USD ($) $ in Millions	Jan. 11, 2020	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Unamortized original issue discount		$ 8.8	$ 10.5
2024 Euro Senior Notes [Member]
Debt Instrument [Line Items]
Repurchased face amount	$ 300
Loss on extinguishment of debt	2.7
Write off of deferred debt issuance cost	1.5
Unamortized original issue discount	$ 1.2
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount		38.7	38.8
Line of credit facility, remaining borrowing capacity		$ 361.3	$ 361.2

Borrowings - Schedule of Matur

Borrowings - Schedule of Maturities of Long-term Debt (Details) $ in Millions	Mar. 31, 2020USD ($)
Debt Disclosure [Abstract]
Remainder of 2020	$ 32.8
2021	26.7
2022	54.2
2023	27.1
2024	2,864.8
Thereafter	551
Long-term debt	$ 3,556.6

Financial Instruments, Hedgin_3

Financial Instruments, Hedging Activities and Fair Value Measurements - Schedule of Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Other Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in equity securities	$ 0.7	$ 0.6
Long-term Debt [Member] | 2024 Dollar Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	489	520.2
Long-term Debt [Member] | 2024 Euro Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	337.9	388.2
Long-term Debt [Member] | 2025 Euro Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	455.5	520.7
Long-term Debt [Member] | 2024 Dollar Term Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans payable, fair value	1,717.2	2,396.5
Currency Swap [Member] | Prepaid Expenses and Other Current Assets [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	14.5	14.4
Currency Swap [Member] | Other Assets [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	26.7	8
Forward Contracts [Member] | Prepaid Expenses and Other Current Assets [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Interest Rate Cap [Member] | Accrued Liabilities [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	2	1.3
Interest Rate Cap [Member] | Other Liabilities [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	1.5	1.2
Interest Rate Swap [Member] | Accrued Liabilities [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	22.5	8.9
Interest Rate Swap [Member] | Other Liabilities [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	46.8	20.5
Fair Value, Inputs, Level 1 [Member] | Other Assets [Member]
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 [Member] | Long-term Debt [Member] | 2024 Dollar Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0	0
Fair Value, Inputs, Level 1 [Member] | Long-term Debt [Member] | 2024 Euro Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0	0
Fair Value, Inputs, Level 1 [Member] | Long-term Debt [Member] | 2025 Euro Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0	0
Fair Value, Inputs, Level 1 [Member] | Long-term Debt [Member] | 2024 Dollar Term Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans payable, fair value	0	0
Fair Value, Inputs, Level 1 [Member] | Currency Swap [Member] | Prepaid Expenses and Other Current Assets [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Fair Value, Inputs, Level 1 [Member] | Currency Swap [Member] | Other Assets [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Fair Value, Inputs, Level 1 [Member] | Forward Contracts [Member] | Prepaid Expenses and Other Current Assets [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Fair Value, Inputs, Level 1 [Member] | Interest Rate Cap [Member] | Accrued Liabilities [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0	0
Fair Value, Inputs, Level 1 [Member] | Interest Rate Cap [Member] | Other Liabilities [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0	0
Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member] | Accrued Liabilities [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0	0
Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member] | Other Liabilities [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0	0
Fair Value, Inputs, Level 2 [Member] | Other Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in equity securities	0	0
Fair Value, Inputs, Level 2 [Member] | Long-term Debt [Member] | 2024 Dollar Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	489	520.2
Fair Value, Inputs, Level 2 [Member] | Long-term Debt [Member] | 2024 Euro Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	337.9	388.2
Fair Value, Inputs, Level 2 [Member] | Long-term Debt [Member] | 2025 Euro Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	455.5	520.7
Fair Value, Inputs, Level 2 [Member] | Long-term Debt [Member] | 2024 Dollar Term Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans payable, fair value	1,717.2	2,396.5
Fair Value, Inputs, Level 2 [Member] | Currency Swap [Member] | Prepaid Expenses and Other Current Assets [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	14.5	14.4
Fair Value, Inputs, Level 2 [Member] | Currency Swap [Member] | Other Assets [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	26.7	8
Fair Value, Inputs, Level 2 [Member] | Forward Contracts [Member] | Prepaid Expenses and Other Current Assets [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Fair Value, Inputs, Level 2 [Member] | Interest Rate Cap [Member] | Accrued Liabilities [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	2	1.3
Fair Value, Inputs, Level 2 [Member] | Interest Rate Cap [Member] | Other Liabilities [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	1.5	1.2
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | Accrued Liabilities [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	22.5	8.9
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | Other Liabilities [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	46.8	20.5
Fair Value, Inputs, Level 3 [Member] | Other Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in equity securities	0	0
Fair Value, Inputs, Level 3 [Member] | Long-term Debt [Member] | 2024 Dollar Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0	0
Fair Value, Inputs, Level 3 [Member] | Long-term Debt [Member] | 2024 Euro Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0	0
Fair Value, Inputs, Level 3 [Member] | Long-term Debt [Member] | 2025 Euro Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0	0
Fair Value, Inputs, Level 3 [Member] | Long-term Debt [Member] | 2024 Dollar Term Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans payable, fair value	0	0
Fair Value, Inputs, Level 3 [Member] | Currency Swap [Member] | Prepaid Expenses and Other Current Assets [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Fair Value, Inputs, Level 3 [Member] | Currency Swap [Member] | Other Assets [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Fair Value, Inputs, Level 3 [Member] | Forward Contracts [Member] | Prepaid Expenses and Other Current Assets [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Fair Value, Inputs, Level 3 [Member] | Interest Rate Cap [Member] | Accrued Liabilities [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0	0
Fair Value, Inputs, Level 3 [Member] | Interest Rate Cap [Member] | Other Liabilities [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0	0
Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member] | Accrued Liabilities [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0	0
Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member] | Other Liabilities [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	$ 0	$ 0

Financial Instruments, Hedgin_4

Financial Instruments, Hedging Activities and Fair Value Measurements - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)interest_rate_swap
Derivatives, Fair Value [Line Items]
Cash flow hedge gain (loss) to be reclassified within twelve months	$ 27.1
Interest Rate Swap [Member]
Derivatives, Fair Value [Line Items]
Number of interest rate swaps | interest_rate_swap	2
Derivative, notional amount	$ 400
Interest Rate Swap [Member] | Interest Rate Swap 1 [Member]
Derivatives, Fair Value [Line Items]
Derivative, notional amount	$ 200
Derivative, fixed interest rate	1.61%
Interest Rate Swap [Member] | Interest Rate Swap 2 [Member]
Derivatives, Fair Value [Line Items]
Derivative, notional amount	$ 200
Derivative, fixed interest rate	1.18%
Foreign Exchange Forward [Member]
Derivatives, Fair Value [Line Items]
Derivative, notional amount	$ 5

Financial Instruments, Hedgin_5

Financial Instruments, Hedging Activities and Fair Value Measurements - Accumulated Other Comprehensive (Loss) Income (Details) - Fair Value, Inputs, Level 2 [Member] - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AOCI	$ 32.4	$ 10.5
Cash Flow Hedging [Member] | Interest Rate Cap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AOCI	4.3	3.5
Cash Flow Hedging [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AOCI	69.3	29.4
Cash Flow Hedging [Member] | Foreign Exchange Forward [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AOCI	0	0
Net Investment Hedging [Member] | Currency Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AOCI	$ (41.2)	$ (22.4)

Financial Instruments, Hedgin_6

Financial Instruments, Hedging Activities and Fair Value Measurements - Derivative Locations and Amounts Recognized (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized loss on derivatives	$ (40.7)	$ (14.6)
Interest Expense [Member] | Foreign Exchange Forward [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(1.7)	1.5
Cash Flow Hedging [Member] | Interest Rate Cap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized loss on derivatives	1.1	2.5
Cash Flow Hedging [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized loss on derivatives	41.5	11
Cash Flow Hedging [Member] | Foreign Exchange Forward [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized loss on derivatives	0	0
Cash Flow Hedging [Member] | Currency Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized loss on derivatives	(22.5)	(13.3)
Cash Flow Hedging [Member] | Interest Expense [Member] | Interest Rate Cap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount of (Gain) Loss Recognized in Income	0.3	(1.1)
Cash Flow Hedging [Member] | Interest Expense [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount of (Gain) Loss Recognized in Income	1.6	(0.1)
Cash Flow Hedging [Member] | Interest Expense [Member] | Currency Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount of (Gain) Loss Recognized in Income	(3.7)	(3.6)
Cash Flow Hedging [Member] | Cost of Sales [Member] | Foreign Exchange Forward [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount of (Gain) Loss Recognized in Income	$ 0	$ 0

Segments - Additional Informat

Segments - Additional Information (Details)	3 Months Ended
	Mar. 31, 2020Segment
Segment Reporting [Abstract]
Number of operating segments	2

Segments - Schedule of Segment

Segments - Schedule of Segment Reporting Information, by Segment (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Net sales	$ 983,500,000	$ 1,119,300,000
Equity in earnings in unconsolidated affiliates	300,000	(300,000)
Investment in unconsolidated affiliates	14,800,000		$ 15,100,000
Segment Reporting, Measurement for Transactions Between Reportable Segments	0
Performance Coatings [Member]
Segment Reporting Information [Line Items]
Net sales	647,700,000	713,300,000
Equity in earnings in unconsolidated affiliates	100,000	100,000
Investment in unconsolidated affiliates	2,000,000		2,400,000
Transportation Coatings [Member]
Segment Reporting Information [Line Items]
Net sales	335,800,000	406,000,000
Equity in earnings in unconsolidated affiliates	200,000	(400,000)
Investment in unconsolidated affiliates	12,800,000		$ 12,700,000
Refinish [Member] | Performance Coatings [Member]
Segment Reporting Information [Line Items]
Net sales	367,800,000	405,500,000
Industrial [Member] | Performance Coatings [Member]
Segment Reporting Information [Line Items]
Net sales	279,900,000	307,800,000
Light Vehicle [Member] | Transportation Coatings [Member]
Segment Reporting Information [Line Items]
Net sales	260,100,000	315,900,000
Commercial Vehicle [Member] | Transportation Coatings [Member]
Segment Reporting Information [Line Items]
Net sales	$ 75,700,000	$ 90,100,000

Segments - Reconciliation of O

Segments - Reconciliation of Operating Profit (Loss) from Segments to Consolidated (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBIT	$ 105.2	$ 112.8
Interest expense, net	36.5	41.3
Debt extinguishment and refinancing related costs	2.4	0
Termination benefits and other employee related costs	19.5	1.3
Strategic review and retention costs	11.5	0
Offering and transactional costs	0.1	0.6
Divestiture and Impairment	0.5	5.2
Pension special event	(1.2)	0
Accelerated depreciation	8.1	6.1
Income before income taxes	27.8	58.3
Performance Coatings [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBIT	79.4	78.6
Transportation Coatings [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBIT	25.8	$ 34.2
Minimum [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Retention payment terms	18
Maximum [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Retention payment terms	$ 24

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Schedule of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI, beginning balance	$ (395.5)
AOCI, ending balance	(513.9)
Unrealized Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI, beginning balance	(297)	$ (299.4)
Current year deferrals to AOCI	(83.3)	12.8
Reclassifications from AOCI to Net income	0	0
Net Change	(83.3)	12.8
AOCI, ending balance	(380.3)	(286.6)
Pension Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI, beginning balance	(69.9)	(36.4)
Current year deferrals to AOCI	0	0
Reclassifications from AOCI to Net income	(0.4)	0
Net Change	(0.4)	0
AOCI, ending balance	(70.3)	(36.4)
Unrealized Gain (Loss) on Derivatives
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI, beginning balance	(28.6)	(0.3)
Current year deferrals to AOCI	(36.3)	(11.4)
Reclassifications from AOCI to Net income	1.6	(1)
Net Change	(34.7)	(12.4)
AOCI, ending balance	(63.3)	(12.7)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI, beginning balance	(395.5)	(336.1)
Current year deferrals to AOCI	(119.6)	1.4
Reclassifications from AOCI to Net income	1.2	(1)
Net Change	(118.4)	0.4
AOCI, ending balance	$ (513.9)	$ (335.7)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Equity [Abstract]
Curtailment gain (loss)	$ 1.2
Cumulative income tax expense (benefit) on pension and postretirement benefit plans	26.8	$ (13.9)
Cumulative income tax expense (benefit) on derivatives	$ 10.3	$ (1.7)

Uncategorized Items - a20203311

Label	Element	Value
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	(1,500,000)
Retained Earnings [Member]
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	(1,500,000)
AOCI Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	0
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	0
Noncontrolling Interest [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	0
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 0