Axalta Coating Systems (AXTA) 10-Q25 Oct 222022 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2022	Oct. 19, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-36733
Entity Registrant Name	AXALTA COATING SYSTEMS LTD.
Entity Incorporation, State or Country Code	D0
Entity Tax Identification Number	98-1073028
Entity Address, Address Line One	50 Applied Bank Blvd
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Glen Mills
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19342
City Area Code	855
Local Phone Number	547-1461
Title of 12(b) Security	Common Shares, $1.00 par value
Trading Symbol	AXTA
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		220,608,935
Entity Central Index Key	0001616862
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Net sales	$ 1,238.7	$ 1,088.6	$ 3,647.7	$ 3,279
Cost of goods sold	876.6	745.3	2,600.4	2,182.6
Selling, general and administrative expenses	186.4	181	571.6	544.3
Other operating charges (benefits)	5.3	(7.6)	17.8	49.5
Research and development expenses	16.5	15.4	49.6	46.8
Amortization of acquired intangibles	30.4	29.8	94.9	88.1
Income from operations	123.5	124.7	313.4	367.7
Interest expense, net	35	33.8	101.1	100.7
Other expense (income), net	3.4	(2.4)	12.4	(10.9)
Income before income taxes	85.1	93.3	199.9	277.9
Provision for income taxes	21.8	24.4	51.6	66.9
Net income	63.3	68.9	148.3	211
Less: Net income (loss) attributable to noncontrolling interests	0.9	(0.2)	0.3	0.3
Net income attributable to controlling interests	$ 62.4	$ 69.1	$ 148	$ 210.7
Basic net income per share (in dollars per share)	$ 0.28	$ 0.30	$ 0.67	$ 0.91
Diluted net income per share (in dollars per share)	$ 0.28	$ 0.30	$ 0.66	$ 0.90

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 63.3	$ 68.9	$ 148.3	$ 211
Other comprehensive loss, before tax:
Foreign currency translation adjustments	(125.3)	(37.9)	(210.6)	(36.2)
Unrealized gain on derivatives	2.7	7.4	33.6	23.5
Unrealized gain on pension and other benefit plan obligations	0.7	1.2	2.3	3.7
Other comprehensive loss, before tax	(121.9)	(29.3)	(174.7)	(9)
Income tax provision related to items of other comprehensive income	0.2	1.5	4.9	4.6
Other comprehensive loss, net of tax	(122.1)	(30.8)	(179.6)	(13.6)
Total comprehensive income (loss)	(58.8)	38.1	(31.3)	197.4
Less: Comprehensive (loss) income attributable to noncontrolling interests	(0.5)	(0.7)	0.2	0.2
Comprehensive (loss) income attributable to controlling interests	$ (58.3)	$ 38.8	$ (31.5)	$ 197.2

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 517.4	$ 840.6
Restricted cash	9.3	10.6
Accounts and notes receivable, net	1,106.9	937.5
Inventories	829.4	669.7
Prepaid expenses and other current assets	205.4	117.2
Total current assets	2,668.4	2,575.6
Property, plant and equipment, net	1,121.5	1,186.2
Goodwill	1,390.4	1,592.7
Identifiable intangibles, net	1,093.5	1,278.2
Other assets	545.2	584.5
Total assets	6,819	7,217.2
Current liabilities:
Accounts payable	746.6	657.4
Current portion of borrowings	66.7	79.7
Other accrued liabilities	536.4	597.8
Total current liabilities	1,349.7	1,334.9
Long-term borrowings	3,663.3	3,749.9
Accrued pensions	227.3	269.3
Deferred income taxes	139.5	174.7
Other liabilities	119.8	149.7
Total liabilities	5,499.6	5,678.5
Commitments and contingent liabilities (Note 6)
Shareholders’ equity:
Common shares, $1.00 par, 1,000.0 shares authorized, 252.4 and 251.8 shares issued at September 30, 2022 and December 31, 2021, respectively	252.4	251.8
Capital in excess of par	1,526.9	1,515.5
Retained earnings	975.2	827.2
Treasury shares, at cost, 31.8 and 24.4 shares at September 30, 2022 and December 31, 2021, respectively	(887.3)	(687.2)
Accumulated other comprehensive loss	(593.9)	(414.4)
Total Axalta shareholders’ equity	1,273.3	1,492.9
Noncontrolling interests	46.1	45.8
Total shareholders’ equity	1,319.4	1,538.7
Total liabilities and shareholders’ equity	$ 6,819	$ 7,217.2

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares shares in Millions	Sep. 30, 2022	Dec. 31, 2021
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)	252.4	251.8
Treasury shares, at cost (in shares)	31.8	24.4

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, 2020		234.8
Beginning balance at Dec. 31, 2020	$ 1,479.8	$ 250.9	$ 1,487.1	$ 563.3	$ (443.5)	$ (424.8)	$ 46.8
Comprehensive income:
Net income	15.7			15.2			0.5
Net realized and unrealized gain (loss) on derivatives, net of tax	7.9					7.9
Long-term employee benefit plans, net of tax	0.7					0.7
Foreign currency translation, net of tax	(37.6)					(37.4)	(0.2)
Total comprehensive income (loss)	(13.3)			15.2		(28.8)	0.3
Recognition of stock-based compensation	3.6		3.6
Shares issued under compensation plans (in shares)		0.3
Shares issued under compensation plans	0.1	$ 0.3	(0.2)
Common stock purchases (in shares)		(2.3)
Common stock purchases	(63.7)				(63.7)
Dividends declared to noncontrolling interests	(0.7)						(0.7)
Ending balance (in shares) at Mar. 31, 2021		232.8
Ending balance at Mar. 31, 2021	1,405.8	$ 251.2	1,490.5	578.5	(507.2)	(453.6)	46.4
Beginning balance (in shares) at Dec. 31, 2020		234.8
Beginning balance at Dec. 31, 2020	1,479.8	$ 250.9	1,487.1	563.3	(443.5)	(424.8)	46.8
Comprehensive income:
Net income	211
Total comprehensive income (loss)	197.4
Ending balance (in shares) at Sep. 30, 2021		228.3
Ending balance at Sep. 30, 2021	1,487.1	$ 251.7	1,510.7	774	(657.3)	(438.3)	46.3
Beginning balance (in shares) at Mar. 31, 2021		232.8
Beginning balance at Mar. 31, 2021	1,405.8	$ 251.2	1,490.5	578.5	(507.2)	(453.6)	46.4
Comprehensive income:
Net income	126.4			126.4
Net realized and unrealized gain (loss) on derivatives, net of tax	5.9					5.9
Long-term employee benefit plans, net of tax	1					1
Foreign currency translation, net of tax	39.3					38.7	0.6
Total comprehensive income (loss)	172.6			126.4		45.6	0.6
Recognition of stock-based compensation	4.2		4.2
Shares issued under compensation plans (in shares)		0.5
Shares issued under compensation plans	12.7	$ 0.5	12.2
Common stock purchases (in shares)		(1.9)
Common stock purchases	(60)				(60)
Ending balance (in shares) at Jun. 30, 2021		231.4
Ending balance at Jun. 30, 2021	1,535.3	$ 251.7	1,506.9	704.9	(567.2)	(408)	47
Comprehensive income:
Net income	68.9			69.1			(0.2)
Net realized and unrealized gain (loss) on derivatives, net of tax	6.3					6.3
Long-term employee benefit plans, net of tax	0.8					0.8
Foreign currency translation, net of tax	(37.9)					(37.4)	(0.5)
Total comprehensive income (loss)	38.1			69.1		(30.3)	(0.7)
Recognition of stock-based compensation	3.9		3.9
Shares issued under compensation plans	(0.1)		(0.1)
Common stock purchases (in shares)		(3.1)
Common stock purchases	(90.1)				(90.1)
Ending balance (in shares) at Sep. 30, 2021		228.3
Ending balance at Sep. 30, 2021	1,487.1	$ 251.7	1,510.7	774	(657.3)	(438.3)	46.3
Beginning balance (in shares) at Dec. 31, 2021		227.4
Beginning balance at Dec. 31, 2021	1,538.7	$ 251.8	1,515.5	827.2	(687.2)	(414.4)	45.8
Comprehensive income:
Net income	40.9			41.5			(0.6)
Net realized and unrealized gain (loss) on derivatives, net of tax	16.9					16.9
Long-term employee benefit plans, net of tax	0.5					0.5
Foreign currency translation, net of tax	(3.9)					(4.4)	0.5
Total comprehensive income (loss)	54.4			41.5		13	(0.1)
Recognition of stock-based compensation	5.3		5.3
Shares issued under compensation plans (in shares)		0.4
Shares issued under compensation plans	(1.9)	$ 0.4	(2.3)
Changes in ownership of noncontrolling interests	(0.1)		(0.3)				0.2
Common stock purchases (in shares)		(6.4)
Common stock purchases	(175.1)				(175.1)
Dividends declared to noncontrolling interests	(0.1)						(0.1)
Ending balance (in shares) at Mar. 31, 2022		221.4
Ending balance at Mar. 31, 2022	1,421.2	$ 252.2	1,518.2	868.7	(862.3)	(401.4)	45.8
Beginning balance (in shares) at Dec. 31, 2021		227.4
Beginning balance at Dec. 31, 2021	1,538.7	$ 251.8	1,515.5	827.2	(687.2)	(414.4)	45.8
Comprehensive income:
Net income	148.3
Total comprehensive income (loss)	$ (31.3)
Shares issued under compensation plans (in shares)	0
Ending balance (in shares) at Sep. 30, 2022		220.6
Ending balance at Sep. 30, 2022	$ 1,319.4	$ 252.4	1,526.9	975.2	(887.3)	(593.9)	46.1
Beginning balance (in shares) at Mar. 31, 2022		221.4
Beginning balance at Mar. 31, 2022	1,421.2	$ 252.2	1,518.2	868.7	(862.3)	(401.4)	45.8
Comprehensive income:
Net income	44.1			44.1
Net realized and unrealized gain (loss) on derivatives, net of tax	10					10
Long-term employee benefit plans, net of tax	0.4					0.4
Foreign currency translation, net of tax	(81.4)					(82.2)	0.8
Total comprehensive income (loss)	(26.9)			44.1		(71.8)	0.8
Recognition of stock-based compensation	3.7		3.7
Shares issued under compensation plans (in shares)		0.1
Shares issued under compensation plans	(0.2)	$ 0.1	(0.3)
Common stock purchases (in shares)		(1)
Common stock purchases	(25)				(25)
Ending balance (in shares) at Jun. 30, 2022		220.5
Ending balance at Jun. 30, 2022	1,372.8	$ 252.3	1,521.6	912.8	(887.3)	(473.2)	46.6
Comprehensive income:
Net income	63.3			62.4			0.9
Net realized and unrealized gain (loss) on derivatives, net of tax	2.6					2.6
Long-term employee benefit plans, net of tax	0.6					0.6
Foreign currency translation, net of tax	(125.3)					(123.9)	(1.4)
Total comprehensive income (loss)	(58.8)			62.4		(120.7)	(0.5)
Recognition of stock-based compensation	5		5
Shares issued under compensation plans (in shares)		0.1
Shares issued under compensation plans	0.4	$ 0.1	0.3
Ending balance (in shares) at Sep. 30, 2022		220.6
Ending balance at Sep. 30, 2022	$ 1,319.4	$ 252.4	$ 1,526.9	$ 975.2	$ (887.3)	$ (593.9)	$ 46.1

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Shareholders’ Equity (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Gain on derivatives, tax expense	$ 0.1	$ 1.4	$ 2.6	$ 1.1	$ 1	$ 1.3
Long-term employee benefit plans, net of tax expense	0.1	0.3	0.4	0.4	0.3	0.5
Foreign currency translation, tax expense	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating activities:
Net income	$ 148.3	$ 211
Adjustment to reconcile net income to cash provided by operating activities:
Depreciation and amortization	229.5	234.7
Amortization of deferred financing costs and original issue discount	7.2	6.7
Deferred income taxes	2.8	9.3
Realized and unrealized foreign exchange losses, net	5.5	9.5
Stock-based compensation	14	11.7
Gain on sale of facility	0	(8.9)
Interest income on swaps designated as net investment hedges	(16.1)	(14.3)
Commercial agreement restructuring charge	25	0
Other non-cash, net	(1.5)	11.3
Changes in operating assets and liabilities:
Trade accounts and notes receivable	(242.4)	(168.5)
Inventories	(220.8)	(107.8)
Prepaid expenses and other assets	(78.9)	(64.3)
Accounts payable	189.7	88.3
Other accrued liabilities	(2.5)	61.3
Other liabilities	(11.6)	10
Cash provided by operating activities	48.2	290
Investing activities:
Acquisitions, net of cash acquired	0	(647.3)
Purchase of property, plant and equipment	(107.5)	(98.7)
Interest proceeds on swaps designated as net investment hedges	16.1	14.3
Settlement proceeds on swaps designated as net investment hedges	25	0
Other investing activities, net	(1.5)	11.8
Cash used for investing activities	(67.9)	(719.9)
Financing activities:
Payments on short-term borrowings	(52.3)	(54.5)
Payments on long-term borrowings	(20.5)	(20.1)
Financing-related costs	(0.1)	(2.6)
Purchases of common stock	(200.1)	(213.8)
Net cash flows associated with stock-based awards	(1.7)
Net cash flows associated with stock-based awards		12.7
Other financing activities, net	(0.2)	(1.2)
Cash used for financing activities	(274.9)	(279.5)
Decrease in cash	(294.6)	(709.4)
Effect of exchange rate changes on cash	(29.9)	(16.5)
Cash at beginning of period	851.2	1,364
Cash at end of period	526.7	638.1
Cash at end of period reconciliation:
Cash and cash equivalents	517.4	627.7
Restricted cash	9.3	10.4
Cash at end of period	$ 526.7	$ 638.1

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The interim condensed consolidated financial statements included herein are unaudited. In the opinion of management, these statements include all adjustments, consisting only of normal, recurring adjustments, necessary for a fair statement of the financial position and shareholders' equity of Axalta Coating Systems Ltd., a Bermuda exempted company limited by shares, and its consolidated subsidiaries ("Axalta," the "Company," "we," "our" and "us") at September 30, 2022, the results of operations, comprehensive (loss) income and changes in shareholders' equity for the three and nine months ended September 30, 2022 and 2021 and cash flows for the nine months then ended. All intercompany balances and transactions have been eliminated. These interim unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. The interim unaudited condensed consolidated financial statements include the accounts of Axalta and its subsidiaries, and entities in which a controlling interest is maintained. Certain of our entities are accounted for on a one-month lag basis, the effect of which is not material. The results of operations for the three and nine months ended September 30, 2022 are not necessarily indicative of the results to be expected for a full year. Summary of Significant Accounting Policies Updates Accounting Guidance Issued But Not Yet Adopted In September 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2022-04, Liabilities – Supplier Finance Programs . The ASU codifies disclosure requirements for supplier financing programs. The new standard is effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. We are currently evaluating the impact of ASU 2022-04 on our financial statements. Risks and Uncertainties

Revenue

Revenue	9 Months Ended
Revenue	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue	REVENUEConsideration for products in which control has transferred to our customers that is conditional on something other than the passage of time is recorded as a contract asset within prepaid expenses and other current assets on the balance sheet. The contract asset balances at September 30, 2022 and December 31, 2021 were $41.0 million and $36.1 million, respectively. We provide certain customers with incremental up-front consideration, subject to clawback provisions, including Business Incentive Plan assets ("BIPs"), which is capitalized as a component of other assets and amortized over the estimated life of the contractual arrangement as a reduction of net sales. At September 30, 2022 and December 31, 2021, the total carrying value of BIPs were $142.6 million and $151.2 million, respectively, and are presented within other assets in the condensed consolidated balance sheets. For the three and nine months ended September 30, 2022 and 2021, $14.3 million, $44.2 million, $17.1 million and $46.1 million, respectively, was amortized and reflected as reductions of net sales in the condensed consolidated statements of operations. The total carrying value of BIPs exclude other up-front incentives with repayment features made in conjunction with long-term customer commitments of $42.6 million and $72.7 million at September 30, 2022 and December 31, 2021, respectively, of which $4.8 million and $12.6 million is included in prepaid expenses and other current assets in the condensed consolidated balance sheets at September 30, 2022 and December 31, 2021, respectively, with the remainder included in other assets. These up-front incentives with repayment features are subject to the credit risk of our customers and, depending on the financial condition of our customers, it is possible that some or all of the amounts may become uncollectible. During the nine months ended September 30, 2022, we agreed to forgo collection of a portion of previously provided up-front incentives with a certain Performance Coatings customer, contingent upon this customer completing a recapitalization and restructuring of its indebtedness and executing a new long-term exclusive sales agreement with us. In July 2022, the contingency was resolved and a new long-term exclusive sales agreement went into effect resulting in the forgiveness of the reserved amounts. During the nine months ended September 30, 2022, a charge for this concession was recorded for $25.0 million, of which $20.3 million was recorded as a reduction to net sales. See Note 17 for disaggregated net sales by end-market.

Acquisitions

Acquisitions	9 Months Ended
Acquisitions	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	ACQUISITIONS Acquisition of U-POL Holdings Limited On September 15, 2021, we completed the acquisition of U-POL Holdings Limited ("U-POL") for an aggregate purchase price of $619.8 million. The acquisition of U-POL, a leading supplier of paint, protective coatings and accessories primarily for the automotive aftermarket, strengthens Axalta's global refinish leadership position and supports its broader growth strategy. The results of the business are reported within our Performance Coatings segment. The U-POL acquisition was recorded as a business combination under FASB Accounting Standards Codification ("ASC") 805, Business Combinations , with identifiable assets acquired and liabilities assumed recorded at their estimated fair values as of the acquisition date. No material adjustments were recorded during the three and nine months ended September 30, 2022, as we finalized our purchase accounting during the respective measurement period, which is one year following the closing date. After all required adjustments, the purchase price was allocated as follows: September 15, 2021 (As initially reported) Measurement Period Adjustments September 15, 2021 (Adjusted) Cash $ 23.7 $ — $ 23.7 Accounts and notes receivable, net 22.5 1.8 24.3 Inventories 23.3 — 23.3 Prepaid expenses and other current assets, net 3.2 — 3.2 Property, plant and equipment, net 16.5 (2.4) 14.1 Identifiable intangible assets 273.0 1.0 274.0 Other assets 2.0 0.1 2.1 Accounts payable (20.9) (1.8) (22.7) Other accrued liabilities (3.9) (0.3) (4.2) Other liabilities (0.9) — (0.9) Deferred income taxes (68.4) (0.7) (69.1) Net assets before goodwill from acquisition 270.1 (2.3) 267.8 Goodwill from acquisition 349.7 2.3 352.0 Net assets acquired $ 619.8 $ — $ 619.8

Goodwill and Identifiable Intan

Goodwill and Identifiable Intangible Assets	9 Months Ended
Goodwill and Identifiable Intangible Assets	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Identifiable Intangible Assets	GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS Goodwill The following table shows changes in the carrying amount of goodwill from December 31, 2021 to September 30, 2022 by reportable segment: Performance Mobility Total Balance at December 31, 2021 $ 1,513.4 $ 79.3 $ 1,592.7 Purchase accounting adjustments 2.5 — 2.5 Foreign currency translation (196.2) (8.6) (204.8) Balance at September 30, 2022 $ 1,319.7 $ 70.7 $ 1,390.4 Identifiable Intangible Assets The following tables summarize the gross carrying amounts and accumulated amortization of identifiable intangible assets by major class: September 30, 2022 Gross Carrying Accumulated Net Book Weighted average Technology $ 528.6 $ (425.9) $ 102.7 10.3 Trademarks—indefinite-lived 239.4 — 239.4 Indefinite Trademarks—definite-lived 118.3 (45.8) 72.5 14.6 Customer relationships 1,069.5 (390.6) 678.9 19.2 Other 0.6 (0.6) — 5.0 Total $ 1,956.4 $ (862.9) $ 1,093.5 December 31, 2021 Gross Carrying Accumulated Net Book Weighted average Technology $ 575.3 $ (420.9) $ 154.4 10.2 Trademarks—indefinite-lived 266.7 — 266.7 Indefinite Trademarks—definite-lived 134.5 (43.8) 90.7 14.4 Customer relationships 1,131.8 (366.6) 765.2 19.2 Other 14.5 (13.3) 1.2 5.0 Total $ 2,122.8 $ (844.6) $ 1,278.2 The estimated amortization expense related to the fair value of acquired intangible assets for the remainder of 2022 and each of the succeeding five years is: Remainder of 2022 $ 29.7 2023 83.8 2024 79.4 2025 78.8 2026 78.4 2027 77.4

Restructuring

Restructuring	9 Months Ended
Restructuring	Sep. 30, 2022
Restructuring and Related Activities [Abstract]
Restructuring	RESTRUCTURING In accordance with the applicable guidance for ASC 712, Nonretirement Postemployment Benefits , we accounted for termination benefits and recognized liabilities when the loss was considered probable that employees were entitled to benefits and the amounts could be reasonably estimated. During the three and nine months ended September 30, 2022 and 2021, we incurred costs for termination benefits of $4.2 million, $10.0 million, $9.5 million and $36.5 million, respectively. The majority of our termination benefits are recorded within other operating charges (benefits) in the condensed consolidated statements of operations. The remaining payments associated with these actions are expected to be substantially completed within 24 months. The following table summarizes the activity related to termination benefit reserves and expenses from December 31, 2021 to September 30, 2022: 2022 Activity Balance at December 31, 2021 $ 57.5 Expenses, net of changes to estimates 10.0 Payments made (26.0) Foreign currency translation (5.2) Balance at September 30, 2022 $ 36.3

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Guarantees We guarantee certain of our customers’ obligations to third parties, whereby any default by our customers on their obligations could force us to make payments to the applicable creditors. At September 30, 2022 and December 31, 2021, we had outstanding bank guarantees of $4.4 million and $5.7 million, respectively. Approximately half of our bank guarantees expire between 2022 and 2036, while the remainder do not have specified expiration dates. We monitor the customer obligations and bank guarantees to evaluate whether we have a liability at the balance sheet date. We did not have any liabilities related to our outstanding bank guarantees recorded at either September 30, 2022 or December 31, 2021. Operational Matter In January 2021, we became aware of an operational matter affecting certain North America Mobility Coatings customer manufacturing sites. The matter involves the use and application of certain of our products in combination with and incorporated within third-party products. The matter occurred over a discrete period during the fourth quarter of 2020. We have concluded that losses from this matter are probable and that a majority of losses would be covered under our insurance policies, subject to deductible and policy limits as defined in our policies. For the three and nine months ended September 30, 2022 and September 30, 2021 , we recorded benefits of $0.1 million, expenses of $0.1 million, benefits of $18.7 million and expenses of $3.9 million, respectively, within other operating charges in the condensed consolidated statements of operations. At September 30, 2022 and December 31, 2021, we had $38.7 million and $52.7 million, respectively, recorded for estimated insurance receivables within accounts and notes receivable, net in the condensed consolidated balance sheets . Liabilities of $43.9 million and $49.7 million are recorded as other accrued liabilities in the condensed consolidated balance sheets at September 30, 2022 and December 31, 2021, respectively . The recorded probable losses remain an estimate and actual costs arising from this matter could be materially lower or higher depending on the actual costs incurred to repair the impacted products as well as the availability of additional insurance coverage. Other We are subject to various pending lawsuits, legal proceedings and other claims in the ordinary course of business, including civil, regulatory and environmental matters. These matters may involve third-party indemnification obligations and/or insurance covering all or part of any potential damage incurred by us. All of these matters are subject to many uncertainties and, accordingly, we cannot determine the ultimate outcome of the proceedings and other claims at this time. The potential effects, if any, on our condensed consolidated financial statements will be recorded in the period in which these matters are probable and estimable. We believe that any sum we may be required to pay in connection with proceedings or claims in excess of the amounts recorded would likely not have a material adverse effect upon our results of operations, financial conditions or cash flows on a consolidated annual basis but could have a material adverse impact in a particular quarterly reporting period.

Long-term Employee Benefits

Long-term Employee Benefits	9 Months Ended
Long-term Employee Benefits	Sep. 30, 2022
Retirement Benefits [Abstract]
Long-term Employee Benefits	LONG-TERM EMPLOYEE BENEFITS Components of Net Periodic Benefit Cost The following table sets forth the components of net periodic benefit costs for the three and nine months ended September 30, 2022 and 2021: Three Months Ended Nine Months Ended 2022 2021 2022 2021 Components of net periodic benefit cost: Net periodic benefit cost: Service cost $ 1.5 $ 2.0 $ 4.8 $ 5.8 Interest cost 2.3 1.9 7.2 5.8 Expected return on plan assets (2.8) (3.4) (9.1) (10.3) Amortization of actuarial losses, net 0.7 1.3 2.4 3.8 Amortization of prior service cost, net — (0.1) (0.1) (0.1) Net periodic benefit cost $ 1.7 $ 1.7 $ 5.2 $ 5.0 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	9 Months Ended
Stock-based Compensation	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation	STOCK-BASED COMPENSATION During the three and nine months ended September 30, 2022 and 2021, we recognized expenses of $5.0 million, $14.0 million, $3.9 million and $11.7 million, respectively, in stock-based compensation, which was allocated between costs of goods sold and selling, general and administrative expenses on the condensed consolidated statements of operations. We recognized tax benefits on stock-based compensation of $1.2 million, $2.2 million, $0.5 million and $1.2 million for the three and nine months ended September 30, 2022 and 2021, respectively. 2022 Activity A summary of award activity by type for the nine months ended September 30, 2022 is presented below. Stock Options Awards Weighted- Aggregate Weighted Outstanding at January 1, 2022 1.4 $ 26.30 Granted — $ — Exercised (1) — $ 14.28 Forfeited / Expired (0.2) $ 29.13 Outstanding at September 30, 2022 1.2 $ 26.20 Vested and expected to vest at September 30, 2022 1.2 $ 26.20 $ 1.5 3.04 Exercisable at September 30, 2022 1.2 $ 26.20 $ 1.5 3.04 (1) Activity during the nine months ended September 30, 2022 rounds to zero. Cash received by the Company upon exercise of options for the nine months ended September 30, 2022 was $0.4 million. Tax benefits on these exercises were $0.1 million. At September 30, 2022, there was no unrecognized expense relating to unvested stock options. Restricted Stock Units Units Weighted Average Outstanding at January 1, 2022 1.1 $ 28.85 Granted 1.3 $ 26.88 Vested (0.5) $ 28.69 Forfeited (0.2) $ 28.85 Outstanding at September 30, 2022 1.7 $ 27.34 Tax shortfall expenses on the vesting of restricted stock units during the nine months ended September 30, 2022 was $0.1 million. At September 30, 2022, there was $28.2 million of unamortized expense relating to unvested restricted stock units that is expected to be amortized over a weighted average period of 1.3 years. Performance Share Units Units Weighted Average Outstanding at January 1, 2022 0.8 $ 30.10 Granted 0.4 $ 30.61 Vested (0.1) $ 29.12 Forfeited (0.5) $ 30.18 Outstanding at September 30, 2022 0.6 $ 30.44 Our performance share units allow for participants to vest in more or less than the targeted number of shares granted. Our performance share units are performing below the applicable targets. We currently expect a total of 0.1 million shares with a weighted average fair value per share of $30.19 to vest at the respective vesting dates for such awards. At September 30, 2022, there is $1.6 million of unamortized expense relating to unvested performance share units that is expected to be amortized over a weighted average period of 2.1 years. The forfeitures include portions of performance share unit grants that were determined to not have vested during the period as a result of not meeting established financial performance thresholds.

Other Expense (Income), Net

Other Expense (Income), Net	9 Months Ended
Other Expense (Income), Net	Sep. 30, 2022
Other Income and Expenses [Abstract]
Other Expense (Income), Net	OTHER EXPENSE (INCOME), NET Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Foreign exchange losses (gains), net $ 5.8 $ (0.7) $ 13.3 $ 2.9 Other miscellaneous income, net (1) (2) (2.4) (1.7) (0.9) (13.8) Total $ 3.4 $ (2.4) $ 12.4 $ (10.9) (1) Activity during the nine months ended September 30, 2022 includes expense of $4.7 million related to a charge for a customer concession discussed further in Note 2. (2) Activity during the nine months ended September 30, 2021 includes income of $8.3 million related to a law change with respect to certain Brazilian indirect taxes.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Our effective income tax rates for the nine months ended September 30, 2022 and 2021 are as follows: Nine Months Ended September 30, 2022 2021 Effective Tax Rate 25.8 % 24.1 % The higher effective tax rate for the nine months ended September 30, 2022 was primarily due to the unfavorable impact of the changes in valuation allowance in 2022. The effective tax rate for the nine months ended September 30, 2022 differs from the U.S. Federal statutory rate due to various items that impacted the effective rate both favorably and unfavorably. We recorded the unfavorable impacts for the changes in valuation allowance and an increase in unrecognized tax benefits. These adjustments were primarily offset by the favorable adjustments for earnings in jurisdictions where the statutory rate is lower than the U.S. Federal statutory rates. The Company anticipates that it is reasonably possible it will settle up to $9.7 million, exclusive of interest and penalties, of its current unrecognized tax benefits within the next 12 months due to the expected conclusion of ongoing tax audits.

Net Income Per Common Share

Net Income Per Common Share	9 Months Ended
Net Income Per Common Share	Sep. 30, 2022
Earnings Per Share [Abstract]
Net Income Per Common Share	NET INCOME PER COMMON SHARE Basic net income per common share excludes the dilutive impact of potentially dilutive securities and is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted net income per common share includes the effect of potential dilution from the hypothetical exercise of outstanding stock options and vesting of restricted stock units and performance share units. A reconciliation of our basic and diluted net income per common share is as follows: Three Months Ended September 30, Nine Months Ended September 30, (In millions, except per share data) 2022 2021 2022 2021 Net income to common shareholders $ 62.4 $ 69.1 $ 148.0 $ 210.7 Basic weighted average shares outstanding 220.6 229.9 222.0 232.1 Diluted weighted average shares outstanding 221.2 230.7 222.6 233.0 Net income per common share: Basic net income per share $ 0.28 $ 0.30 $ 0.67 $ 0.91 Diluted net income per share $ 0.28 $ 0.30 $ 0.66 $ 0.90 The number of anti-dilutive shares that have been excluded in the computation of diluted net income per share for the three and nine months ended September 30, 2022 and 2021 were 1.1 million, 1.1 million, 0.3 million and 0.8 million, respectively.

Accounts and Notes Receivable,

Accounts and Notes Receivable, Net	9 Months Ended
Accounts and Notes Receivable, Net	Sep. 30, 2022
Receivables [Abstract]
Accounts and Notes Receivable, Net	ACCOUNTS AND NOTES RECEIVABLE, NET Trade accounts receivable are stated at the amount we expect to collect. We maintain allowances for doubtful accounts for estimated losses by applying historical loss percentages, combined with reasonable and supportable forecasts of future losses, to respective aging categories. Management considers the following factors in developing its current estimate of expected credit losses: customer credit-worthiness, past transaction history with the customer, current economic industry trends, changes in market or regulatory matters, changes in geopolitical matters, and changes in customer payment terms, as well as the ongoing impacts from COVID-19 and other macroeconomic factors. September 30, 2022 December 31, 2021 Accounts receivable - trade, net (1) $ 952.2 $ 760.4 Notes receivable 11.5 24.7 Other (2) 143.2 152.4 Total $ 1,106.9 $ 937.5 (1) Allowance for doubtful accounts was $22.7 million and $22.0 million at September 30, 2022 and December 31, 2021, respectively. (2) Includes $38.7 million and $52.7 million at September 30, 2022 and December 31, 2021, respectively, of insurance recoveries related to the operational matter as discussed further in Note 6. Bad debt expense of $0.9 million, $1.0 million, $0.4 million, and $1.3 million, was included within selling, general and administrative expenses for the three and nine months ended September 30, 2022 and 2021, respectively, and $0.1 million and $3.2 million of expenses related to sanctions imposed on Russia in response to the conflict with Ukraine was included in other operating charges (benefits) for the three and nine months ended September 30, 2022, respectively.

Inventories

Inventories	9 Months Ended
Inventories	Sep. 30, 2022
Inventory Disclosure [Abstract]
Inventories	INVENTORIES September 30, 2022 December 31, 2021 Finished products $ 405.8 $ 355.9 Semi-finished products 135.1 109.7 Raw materials 261.4 180.8 Stores and supplies 27.1 23.3 Total $ 829.4 $ 669.7 Inventory reserves were $19.0 million and $15.6 million at September 30, 2022 and December 31, 2021, respectively.

Property, Plant and Equipment,

Property, Plant and Equipment, Net	9 Months Ended
Property, Plant and Equipment, Net	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net	PROPERTY, PLANT AND EQUIPMENT, NET September 30, 2022 December 31, 2021 Property, plant and equipment $ 2,237.3 $ 2,299.4 Accumulated depreciation (1,115.8) (1,113.2) Property, plant, and equipment, net $ 1,121.5 $ 1,186.2 Depreciation expense amounted to $29.0 million, $89.0 million, $31.5 million and $96.3 million for the three and nine months ended September 30, 2022 and 2021, respectively.

Borrowings

Borrowings	9 Months Ended
Borrowings	Sep. 30, 2022
Debt Disclosure [Abstract]
Borrowings	BORROWINGS Borrowings are summarized as follows: September 30, 2022 December 31, 2021 2024 Dollar Term Loans $ 2,020.7 $ 2,038.9 2025 Euro Senior Notes 435.6 508.8 2027 Dollar Senior Notes 500.0 500.0 2029 Dollar Senior Notes 700.0 700.0 Short-term and other borrowings 99.4 113.8 Unamortized original issue discount (3.2) (4.6) Unamortized deferred financing costs (22.5) (27.3) Total borrowings, net 3,730.0 3,829.6 Less: Short-term borrowings 42.4 55.4 Current portion of long-term borrowings 24.3 24.3 Long-term debt $ 3,663.3 $ 3,749.9 Revolving Credit Facility At September 30, 2022 and December 31, 2021, letters of credit issued under the Revolving Credit Facility totaled $21.1 million and $22.1 million, respectively, which reduced the availability under the Revolving Credit Facility. Availability under the Revolving Credit Facility was $528.9 million and $527.9 million at September 30, 2022 and December 31, 2021, respectively. Supplier financing arrangements We have a financing program in China which is utilized to finance the purchases of goods and services from our suppliers through local banking institutions. The payment terms under the financing program vary, but the program has a weighted average maturity date that is approximately 90 days from each respective financing inception. These financing arrangements are included in current portion of borrowings within the consolidated balance sheets and at the time of issuance each transaction is treated as a non-cash financing activity within the consolidated statements of cash flows. Upon settlement of the financing, the cash outflow is classified as a financing activity within the consolidated statements of cash flows. Amounts outstanding under this program were $13.0 million and $14.9 million at September 30, 2022 and 2021, respectively, including $1.9 million and $2.2 million, respectively, related to purchases of property, plant and equipment. Cash outflows under this program were $8.4 million, $52.3 million, $13.5 million and $44.4 million for the three and nine months ended September 30, 2022 and 2021, respectively. Future repayments Below is a schedule of required future repayments of all borrowings outstanding at September 30, 2022. Remainder of 2022 $ 46.2 2023 27.4 2024 1,993.4 2025 438.8 2026 3.4 Thereafter 1,246.5 Total borrowings 3,755.7 Unamortized original issue discount (3.2) Unamortized deferred financing costs (22.5) Total borrowings, net $ 3,730.0

Financial Instruments, Hedging

Financial Instruments, Hedging Activities and Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Financial Instruments, Hedging Activities and Fair Value Measurements	FINANCIAL INSTRUMENTS, HEDGING ACTIVITIES AND FAIR VALUE MEASUREMENTS Fair value of financial instruments Equity securities with readily determinable fair values - Balances of equity securities are recorded within other assets, with any changes in fair value recorded within other expense (income), net. The fair values of equity securities are based upon quoted market prices, which are considered Level 1 inputs. Long-term borrowings - The estimated fair values of these borrowings are based on recent trades, as reported by a third-party pricing service. Due to the infrequency of trades, these inputs are considered to be Level 2 inputs. Derivative instruments - The Company’s interest rate caps, interest rate swaps, cross-currency swaps, and foreign currency forward contracts are valued using broker quotations, or market transactions in either the listed or over-the-counter markets. As such, these derivative instruments are included in the Level 2 hierarchy. Fair value of contingent consideration The fair value of contingent consideration associated with an acquisition completed in the year is valued at each balance sheet date, until amounts become payable, with adjustments recorded within other expense (income), net in the condensed consolidated statements of operations. During April 2021, in conjunction with an acquisition in China, we recorded the fair value of contingent consideration of $7.3 million. As of September 30, 2022, the contingent consideration has decreased to $7.0 million as a result of accretion for the passage of time and currency translation. The contingent consideration was valued using a probability-weighted expected payment method. The analysis considered the timing of expected future cash flows and the probability of whether key elements of the contingent event are completed. Due to the significant unobservable inputs used in the valuations, these liabilities are categorized within Level 3 of the fair value hierarchy. The table below presents the fair values of our financial instruments measured on a recurring basis by level within the fair value hierarchy at September 30, 2022 and December 31, 2021. September 30, 2022 December 31, 2021 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Prepaid expenses and other current assets: Interest rate swaps (1) $ — $ 7.1 $ — $ 7.1 $ — $ — $ — $ — Cross-currency swaps (2) — 76.7 — 76.7 — 17.7 — 17.7 Foreign currency forward contracts (1) — 0.2 — 0.2 — — — — Other assets: Cross-currency swaps (2) — 34.3 — 34.3 — 8.3 — 8.3 Investments in equity securities 0.6 — — 0.6 0.7 — — 0.7 Liabilities: Other accrued liabilities: Interest rate swaps (1) — — — — — 24.3 — 24.3 Contingent consideration — — 7.0 7.0 — — 7.8 7.8 Other liabilities: Interest rate swaps (1) — — — — — 1.9 — 1.9 Long-term borrowings: 2024 Dollar Term Loans — 1,997.6 — 1,997.6 — 2,038.5 — 2,038.5 2025 Euro Senior Notes — 400.4 — 400.4 — 513.7 — 513.7 2027 Dollar Senior Notes — 445.3 — 445.3 — 522.9 — 522.9 2029 Dollar Senior Notes — 547.7 — 547.7 — 679.5 — 679.5 (1) Cash flow hedge (2) Net investment hedge The table below presents a roll forward of activity for the Level 3 liabilities during the three and nine months ended September 30, 2022. Fair Value Using Significant Unobservable Inputs Beginning balance December 31, 2021 $ 7.8 Change in fair value — Ending balance at March 31, 2022 7.8 Change in fair value (0.3) Ending balance at June 30, 2022 7.5 Change in fair value (0.5) Ending balance at September 30, 2022 $ 7.0 Derivative Financial Instruments We selectively use derivative instruments to reduce market risk associated with changes in foreign currency exchange rates and interest rates. The use of derivatives is intended for hedging purposes only, and we do not enter into derivative instruments for speculative purposes. Certain derivative instruments in use are contingent upon changes in LIBOR, which is the subject of recent reform and will cease being published in June 2023. The derivative instruments under LIBOR terms that we are currently party to will either mature before June 2023 or the agreements contain transitional language to a different reference rate. Derivative Instruments Qualifying and Designated as Cash Flow and Net Investment Hedges Cross-Currency Swaps Designated as Net Investment Hedges During March 2022, we settled two fixed-for-fixed cross-currency swaps with an aggregate notional amount totaling €335.0 million, previously executed in 2020, resulting in cash proceeds of $25.0 million. Concurrently, we entered into two fixed-for-fixed cross-currency swaps with an aggregate notional amount totaling €335.0 million to hedge the variability of exchange rate impacts between the U.S. Dollar and Euro. Under the terms of the new cross-currency swap agreements, the Company notionally exchanged $365.5 million at a weighted average interest rate of 3.375% for €335.0 million at a weighted average interest rate of 2.04%. The cross-currency swaps are designated as net investment hedges and expire on February 15, 2029. These cross-currency swaps are marked to market at each reporting date and any unrealized gains or losses are included in unrealized currency translation adjustments, within accumulated other comprehensive loss ("AOCI"). Foreign Currency Forward Contracts Designated as Cash Flow Hedges During the three months ended March 31, 2022, we designated foreign currency forward contracts with a notional value of $3.0 million as cash flow hedges of the Company’s exposure to variability in exchange rates on forecasted purchases of inventory denominated in foreign currencies. These forward currency contracts are marked to market at each reporting date and any unrealized gains or losses are included in AOCI and reclassified to cost of goods sold in the same period or periods during which the hedged transactions affect earnings. The following table presents the fair values of derivative instruments that qualify and have been designated as cash flow and net investment hedges included in AOCI: September 30, 2022 December 31, 2021 AOCI: Interest rate swaps (cash flow hedges) $ (7.1) $ 26.3 Foreign currency forward contracts (cash flow hedges) (0.2) — Cross-currency swaps (net investment hedges) (135.6) (26.0) Total AOCI $ (142.9) $ 0.3 Gains and losses on the derivative representing hedge components excluded from the assessment of effectiveness are recognized over the life of the hedge on a systematic and rational basis. The following tables set forth the locations and amounts recognized during the three and nine months ended September 30, 2022 and 2021 for these cash flow and net investment hedges. For the Three Months Ended September 30, 2022 2021 Derivatives in Cash Flow and Net Investment Hedges Location of Loss (Gain) Recognized in Income on Derivatives Net Amount of Gain Recognized in OCI on Derivatives Amount of Loss (Gain) Recognized in Income Net Amount of Loss (Gain) Recognized in OCI on Derivatives Amount of Loss (Gain) Recognized in Income Interest rate caps Interest expense, net $ — $ — $ — $ 0.7 Interest rate swaps Interest expense, net (2.5) 0.1 0.9 7.5 Foreign currency forward contracts Cost of goods sold (0.1) — — 0.1 Cross-currency swaps Interest expense, net (65.5) (5.4) (20.4) (4.8) For the Nine Months Ended September 30, 2022 2021 Derivatives in Cash Flow and Net Investment Hedges Location of Loss (Gain) Recognized in Income on Derivatives Net Amount of Gain Recognized in OCI on Derivatives Amount of Loss (Gain) Recognized in Income Net Amount of Loss (Gain) Recognized in OCI on Derivatives Amount of Loss (Gain) Recognized in Income Interest rate caps Interest expense, net $ — $ — $ — $ 1.9 Interest rate swaps Interest expense, net (21.8) 11.6 0.3 21.7 Foreign currency forward contracts Cost of goods sold (0.2) — — 0.2 Cross-currency swaps Interest expense, net (124.9) (15.3) (50.3) (14.3) Over the next 12 months, we expect a gain of $7.3 million pertaining to cash flow hedges to be reclassified from AOCI into earnings, related to our interest rate swaps and foreign currency forward contracts. Derivative Instruments Not Designated as Cash Flow Hedges We periodically enter into foreign currency forward and option contracts to reduce market risk and hedge our balance sheet exposures and cash flows for subsidiaries with exposures denominated in currencies different from the functional currency of the relevant subsidiary. These contracts have not been designated as hedges and all gains and losses are marked to market through other expense (income), net in the condensed consolidated statements of operations. Fair value gains and losses of derivative contracts, as determined using Level 2 inputs, that have not been designated for hedge accounting treatment under ASC 815, Derivatives and hedging , are recorded in earnings as follows: Derivatives Not Designated as Hedging Location of Loss (Gain) Recognized in Income on Derivatives Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Foreign currency forward contracts Other expense (income), net $ 5.2 $ (0.9) $ 7.8 $ (6.8)

Segments

Segments	9 Months Ended
Segments	Sep. 30, 2022
Segment Reporting [Abstract]
Segments	SEGMENTS The Company identifies an operating segment as a component: (i) that engages in business activities from which it may earn revenues and incur expenses; (ii) whose operating results are regularly reviewed by the Chief Operating Decision Maker ("CODM") to make decisions about resources to be allocated to the segment and assess its performance; and (iii) that has available discrete financial information. We have two operating segments, which are also our reportable segments: Performance Coatings and Mobility Coatings. The CODM reviews financial information at the operating segment level to allocate resources and to assess the operating results and financial performance for each operating segment. Our CODM is identified as the Interim Chief Executive Officer because he has final authority over performance assessment and resource allocation decisions. Our segments are based on the type and concentration of customers served, service requirements, methods of distribution and major product lines. Through our Performance Coatings segment, we provide high-quality liquid and powder coatings solutions to a fragmented and local customer base. We are one of only a few suppliers with the technology to provide precise color matching and highly durable coatings systems. The end-markets within this segment are refinish and industrial. Through our Mobility Coatings segment, we provide coatings technologies while focusing on supporting the accelerating demand for e-mobility and the evolving coatings needs of established and emerging light and commercial vehicle OEMs, fleet owners and shared mobility providers. These global customers are faced with evolving megatrends in sustainability, personalization and autonomous driving that require a high level of technical support coupled with productive, environmentally responsible coatings systems that can be applied with a high degree of precision, consistency and speed. The end-markets within this segment are light vehicle and commercial vehicle. Adjusted EBIT is the primary measure to evaluate financial performance of the operating segments and allocate resources. Asset information is not reviewed or included with our internal management reporting. Therefore, we have not disclosed asset information for each reportable segment. The following table presents relevant information of our reportable segments. Three Months Ended September 30, Nine Months Ended 2022 2021 2022 2021 Net sales (1) : Refinish $ 498.7 $ 443.4 $ 1,451.2 $ 1,305.5 Industrial 339.3 335.8 1,057.0 986.8 Total Net sales Performance Coatings 838.0 779.2 2,508.2 2,292.3 Light Vehicle 303.0 235.4 861.5 758.2 Commercial Vehicle 97.7 74.0 278.0 228.5 Total Net sales Mobility Coatings 400.7 309.4 1,139.5 986.7 Total Net sales $ 1,238.7 $ 1,088.6 $ 3,647.7 $ 3,279.0 Depreciation and amortization expense (2) : Performance Coatings $ 55.5 $ 57.0 $ 171.2 $ 167.4 Mobility Coatings 19.0 22.3 58.3 67.3 Total Depreciation and amortization expense $ 74.5 $ 79.3 $ 229.5 $ 234.7 (1) The Company has no intercompany sales between segments. (2) Depreciation and amortization expenses relating to assets used within the operations of a specifically identifiable segment are recorded to the appropriate segment, while depreciation and amortization expenses relating to assets shared in our integrated supply chain are allocated to the appropriate segments on a consistent basis reflecting their use. The following table reconciles our segment operating performance to income before income taxes for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Segment Adjusted EBIT (1) : Performance Coatings $ 121.8 $ 122.8 $ 341.6 $ 379.7 Mobility Coatings 3.6 (2.7) 6.4 42.2 Total (2) 125.4 120.1 348.0 421.9 Interest expense, net 35.0 33.8 101.1 100.7 Termination benefits and other employee related costs (a) 5.0 9.6 10.1 35.1 Strategic review and retention costs (b) — 2.1 — 9.7 Acquisition and divestiture-related costs (c) 0.2 9.2 2.8 10.8 Accelerated depreciation and site closure costs (d) 1.1 0.6 4.2 1.8 Operational matter (e) (0.1) (18.7) 0.1 3.9 Brazil indirect tax (f) — — — (8.3) Gain on sale of facility (g) — (8.9) — (8.9) Russia sanction-related impacts (h) (1.3) — 4.8 — Commercial agreement restructuring impacts (i) — — 25.0 — Other adjustments (j) 0.4 (0.9) — (0.8) Income before income taxes $ 85.1 $ 93.3 $ 199.9 $ 277.9 (1) The primary measure of segment operating performance is Adjusted EBIT, which is defined as net income before interest, taxes and select other items impacting operating results. These other items impacting operating results are items that management has concluded are (1) non-cash items included within net income, (2) items the Company does not believe are indicative of ongoing operating performance or (3) non-recurring, unusual or infrequent items that have not occurred within the last two years or we believe are not reasonably likely to recur within the next two years. Adjusted EBIT is a key metric that is used by management to evaluate business performance in comparison to budgets, forecasts and prior year financial results, providing a measure that management believes reflects the Company's core operating performance, which represents Adjusted EBIT adjusted for the select items referred to above. (2) Does not represent Adjusted EBIT referenced elsewhere by the Company as there are additional adjustments that are not allocated to the segments. (a) Represents expenses and associated changes to estimates related to employee termination benefits and other employee-related costs, which includes costs related to the transition of our CEO. Employee termination benefits are primarily associated with Axalta Way initiatives. These amounts are not considered indicative of our ongoing operating performance. (b) Represents costs for legal, tax and other advisory fees pertaining to our review of strategic alternatives that was concluded in March 2020, as well as retention awards for certain employees that were earned over a period of 18-24 months, which ended in September 2021. These amounts are not considered indicative of our ongoing performance. (c) Represents acquisition and divestiture-related expenses and integration activities associated with our business combinations, all of which are not considered indicative of our ongoing operating performance. The amount for the nine months ended September 30, 2022 includes $1.9 million of due diligence and other related costs associated with unconsummated merger and acquisition transactions. (d) Represents incremental depreciation expense resulting from truncated useful lives of the assets impacted by our manufacturing footprint assessments and costs related to the closure of certain manufacturing sites, which we do not consider indicative of our ongoing operating performance. (e) Represents expenses, changes in estimates and insurance recoveries for probable liabilities related to an operational matter in the Mobility Coatings segment discussed further in Note 6, which we do not consider indicative of our ongoing operating performance. (f) Represents non-recurring income related to a law change with respect to certain Brazilian indirect taxes which was recorded within other expense (income), net. (g) Represents non-recurring income related to the sale of a previously closed manufacturing facility. (h) Represents (benefits) expenses related to sanctions imposed on Russia in response to the conflict with Ukraine as a result of incremental reserves for accounts receivable, inventory obsolescence and business incentive payments, which we do not consider indicative of our ongoing operating performance. The benefits recorded during the three months ended September 30, 2022 are related to changes in estimated inventory obsolescence. (i) Represents a charge related to a customer concession discussed further in Note 2. These amounts are not considered to be indicative of our ongoing operating performance. (j) Represents costs for certain non-operational or non-cash losses and (gains), unrelated to our core business and which we do not consider indicative of ongoing operations.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
Accumulated Other Comprehensive Loss	Sep. 30, 2022
Equity [Abstract]
Accumulated Other Comprehensive Loss	ACCUMULATED OTHER COMPREHENSIVE LOSS Unrealized Pension Unrealized Accumulated Balance, December 31, 2021 $ (331.3) $ (60.4) $ (22.7) $ (414.4) Current year deferrals to AOCI 0.4 — 10.8 11.2 Reclassifications from AOCI to Net income (4.8) 0.5 6.1 1.8 Net Change (4.4) 0.5 16.9 13.0 Balance, March 31, 2022 (335.7) (59.9) (5.8) (401.4) Current year deferrals to AOCI (77.1) — 6.1 (71.0) Reclassifications from AOCI to Net income (5.1) 0.4 3.9 (0.8) Net Change (82.2) 0.4 10.0 (71.8) Balance, June 30, 2022 (417.9) (59.5) 4.2 (473.2) Current year deferrals to AOCI (118.5) — 2.4 (116.1) Reclassifications from AOCI to Net income (5.4) 0.6 0.2 (4.6) Net Change (123.9) 0.6 2.6 (120.7) Balance, September 30, 2022 $ (541.8) $ (58.9) $ 6.8 $ (593.9) The cumulative income tax benefit related to the adjustments for pension benefits at September 30, 2022 was $24.0 million. The cumulative income tax expense related to the adjustments for unrealized gain on derivatives at September 30, 2022 was $0.5 million. See Note 16 for classification within the consolidated statements of operations of the gains and losses on derivatives reclassified from AOCI. Unrealized Pension Unrealized Accumulated Balance, December 31, 2020 $ (282.0) $ (88.7) $ (54.1) $ (424.8) Current year deferrals to AOCI (32.6) — 1.3 (31.3) Reclassifications from AOCI to Net income (4.8) 0.7 6.6 2.5 Net Change (37.4) 0.7 7.9 (28.8) Balance, March 31, 2021 (319.4) (88.0) (46.2) (453.6) Current year deferrals to AOCI 43.4 — (0.8) 42.6 Reclassifications from AOCI to Net income (4.7) 1.0 6.7 3.0 Net Change 38.7 1.0 5.9 45.6 Balance, June 30, 2021 (280.7) (87.0) (40.3) (408.0) Current year deferrals to AOCI (32.6) — (0.8) (33.4) Reclassifications from AOCI to Net income (4.8) 0.8 7.1 3.1 Net Change (37.4) 0.8 6.3 (30.3) Balance, September 30, 2021 $ (318.1) $ (86.2) $ (34.0) $ (438.3) The cumulative income tax benefit related to the adjustments for pension benefits at September 30, 2021 was $32.3 million. The cumulative income tax benefit related to the adjustments for unrealized loss on derivatives at September 30, 2021 was $5.4 million. See Note 16 for classification within the consolidated statements of operations of the gains and losses on derivatives reclassified from AOCI.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Accounting Guidance Issued But Not Yet Adopted	Accounting Guidance Issued But Not Yet Adopted In September 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2022-04, Liabilities – Supplier Finance Programs . The ASU codifies disclosure requirements for supplier financing programs. The new standard is effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. We are currently evaluating the impact of ASU 2022-04 on our financial statements.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
Acquisitions (Tables)	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Assets Acquired and Liabilities Assumed	After all required adjustments, the purchase price was allocated as follows: September 15, 2021 (As initially reported) Measurement Period Adjustments September 15, 2021 (Adjusted) Cash $ 23.7 $ — $ 23.7 Accounts and notes receivable, net 22.5 1.8 24.3 Inventories 23.3 — 23.3 Prepaid expenses and other current assets, net 3.2 — 3.2 Property, plant and equipment, net 16.5 (2.4) 14.1 Identifiable intangible assets 273.0 1.0 274.0 Other assets 2.0 0.1 2.1 Accounts payable (20.9) (1.8) (22.7) Other accrued liabilities (3.9) (0.3) (4.2) Other liabilities (0.9) — (0.9) Deferred income taxes (68.4) (0.7) (69.1) Net assets before goodwill from acquisition 270.1 (2.3) 267.8 Goodwill from acquisition 349.7 2.3 352.0 Net assets acquired $ 619.8 $ — $ 619.8

Goodwill and Identifiable Int_2

Goodwill and Identifiable Intangible Assets (Tables)	9 Months Ended
Goodwill and Identifiable Intangible Assets (Tables)	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table shows changes in the carrying amount of goodwill from December 31, 2021 to September 30, 2022 by reportable segment: Performance Mobility Total Balance at December 31, 2021 $ 1,513.4 $ 79.3 $ 1,592.7 Purchase accounting adjustments 2.5 — 2.5 Foreign currency translation (196.2) (8.6) (204.8) Balance at September 30, 2022 $ 1,319.7 $ 70.7 $ 1,390.4
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class	The following tables summarize the gross carrying amounts and accumulated amortization of identifiable intangible assets by major class: September 30, 2022 Gross Carrying Accumulated Net Book Weighted average Technology $ 528.6 $ (425.9) $ 102.7 10.3 Trademarks—indefinite-lived 239.4 — 239.4 Indefinite Trademarks—definite-lived 118.3 (45.8) 72.5 14.6 Customer relationships 1,069.5 (390.6) 678.9 19.2 Other 0.6 (0.6) — 5.0 Total $ 1,956.4 $ (862.9) $ 1,093.5 December 31, 2021 Gross Carrying Accumulated Net Book Weighted average Technology $ 575.3 $ (420.9) $ 154.4 10.2 Trademarks—indefinite-lived 266.7 — 266.7 Indefinite Trademarks—definite-lived 134.5 (43.8) 90.7 14.4 Customer relationships 1,131.8 (366.6) 765.2 19.2 Other 14.5 (13.3) 1.2 5.0 Total $ 2,122.8 $ (844.6) $ 1,278.2
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The estimated amortization expense related to the fair value of acquired intangible assets for the remainder of 2022 and each of the succeeding five years is: Remainder of 2022 $ 29.7 2023 83.8 2024 79.4 2025 78.8 2026 78.4 2027 77.4

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
Restructuring (Tables)	Sep. 30, 2022
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The following table summarizes the activity related to termination benefit reserves and expenses from December 31, 2021 to September 30, 2022: 2022 Activity Balance at December 31, 2021 $ 57.5 Expenses, net of changes to estimates 10.0 Payments made (26.0) Foreign currency translation (5.2) Balance at September 30, 2022 $ 36.3

Long-term Employee Benefits (Ta

Long-term Employee Benefits (Tables)	9 Months Ended
Long-term Employee Benefits (Tables)	Sep. 30, 2022
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs	The following table sets forth the components of net periodic benefit costs for the three and nine months ended September 30, 2022 and 2021: Three Months Ended Nine Months Ended 2022 2021 2022 2021 Components of net periodic benefit cost: Net periodic benefit cost: Service cost $ 1.5 $ 2.0 $ 4.8 $ 5.8 Interest cost 2.3 1.9 7.2 5.8 Expected return on plan assets (2.8) (3.4) (9.1) (10.3) Amortization of actuarial losses, net 0.7 1.3 2.4 3.8 Amortization of prior service cost, net — (0.1) (0.1) (0.1) Net periodic benefit cost $ 1.7 $ 1.7 $ 5.2 $ 5.0

Stock-based Compensation (Table

Stock-based Compensation (Tables)	9 Months Ended
Stock-based Compensation (Tables)	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Options Roll Forward	A summary of award activity by type for the nine months ended September 30, 2022 is presented below. Stock Options Awards Weighted- Aggregate Weighted Outstanding at January 1, 2022 1.4 $ 26.30 Granted — $ — Exercised (1) — $ 14.28 Forfeited / Expired (0.2) $ 29.13 Outstanding at September 30, 2022 1.2 $ 26.20 Vested and expected to vest at September 30, 2022 1.2 $ 26.20 $ 1.5 3.04 Exercisable at September 30, 2022 1.2 $ 26.20 $ 1.5 3.04 (1) Activity during the nine months ended September 30, 2022 rounds to zero.
Schedule of Restricted Stock Units and Restricted Stock Awards Roll Forward	Restricted Stock Units Units Weighted Average Outstanding at January 1, 2022 1.1 $ 28.85 Granted 1.3 $ 26.88 Vested (0.5) $ 28.69 Forfeited (0.2) $ 28.85 Outstanding at September 30, 2022 1.7 $ 27.34
Schedule of Performance Stock Roll Forward	Performance Share Units Units Weighted Average Outstanding at January 1, 2022 0.8 $ 30.10 Granted 0.4 $ 30.61 Vested (0.1) $ 29.12 Forfeited (0.5) $ 30.18 Outstanding at September 30, 2022 0.6 $ 30.44

Other Expense (Income), Net (Ta

Other Expense (Income), Net (Tables)	9 Months Ended
Other Expense (Income), Net (Tables)	Sep. 30, 2022
Other Income and Expenses [Abstract]
Schedule of Other Income, Net	Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Foreign exchange losses (gains), net $ 5.8 $ (0.7) $ 13.3 $ 2.9 Other miscellaneous income, net (1) (2) (2.4) (1.7) (0.9) (13.8) Total $ 3.4 $ (2.4) $ 12.4 $ (10.9) (1) Activity during the nine months ended September 30, 2022 includes expense of $4.7 million related to a charge for a customer concession discussed further in Note 2. (2) Activity during the nine months ended September 30, 2021 includes income of $8.3 million related to a law change with respect to certain Brazilian indirect taxes.

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
Income Taxes (Tables)	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	Our effective income tax rates for the nine months ended September 30, 2022 and 2021 are as follows: Nine Months Ended September 30, 2022 2021 Effective Tax Rate 25.8 % 24.1 %

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	9 Months Ended
Net Income Per Common Share (Tables)	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	A reconciliation of our basic and diluted net income per common share is as follows: Three Months Ended September 30, Nine Months Ended September 30, (In millions, except per share data) 2022 2021 2022 2021 Net income to common shareholders $ 62.4 $ 69.1 $ 148.0 $ 210.7 Basic weighted average shares outstanding 220.6 229.9 222.0 232.1 Diluted weighted average shares outstanding 221.2 230.7 222.6 233.0 Net income per common share: Basic net income per share $ 0.28 $ 0.30 $ 0.67 $ 0.91 Diluted net income per share $ 0.28 $ 0.30 $ 0.66 $ 0.90

Accounts and Notes Receivable_2

Accounts and Notes Receivable, Net (Tables)	9 Months Ended
Accounts and Notes Receivable, Net (Tables)	Sep. 30, 2022
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	September 30, 2022 December 31, 2021 Accounts receivable - trade, net (1) $ 952.2 $ 760.4 Notes receivable 11.5 24.7 Other (2) 143.2 152.4 Total $ 1,106.9 $ 937.5 (1) Allowance for doubtful accounts was $22.7 million and $22.0 million at September 30, 2022 and December 31, 2021, respectively. (2) Includes $38.7 million and $52.7 million at September 30, 2022 and December 31, 2021, respectively, of insurance recoveries related to the operational matter as discussed further in Note 6.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
Inventories (Tables)	Sep. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	September 30, 2022 December 31, 2021 Finished products $ 405.8 $ 355.9 Semi-finished products 135.1 109.7 Raw materials 261.4 180.8 Stores and supplies 27.1 23.3 Total $ 829.4 $ 669.7

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	9 Months Ended
Property, Plant and Equipment, Net (Tables)	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	September 30, 2022 December 31, 2021 Property, plant and equipment $ 2,237.3 $ 2,299.4 Accumulated depreciation (1,115.8) (1,113.2) Property, plant, and equipment, net $ 1,121.5 $ 1,186.2

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
Borrowings (Tables)	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Debt	Borrowings are summarized as follows: September 30, 2022 December 31, 2021 2024 Dollar Term Loans $ 2,020.7 $ 2,038.9 2025 Euro Senior Notes 435.6 508.8 2027 Dollar Senior Notes 500.0 500.0 2029 Dollar Senior Notes 700.0 700.0 Short-term and other borrowings 99.4 113.8 Unamortized original issue discount (3.2) (4.6) Unamortized deferred financing costs (22.5) (27.3) Total borrowings, net 3,730.0 3,829.6 Less: Short-term borrowings 42.4 55.4 Current portion of long-term borrowings 24.3 24.3 Long-term debt $ 3,663.3 $ 3,749.9
Schedule of Maturities of Long-term Debt	Below is a schedule of required future repayments of all borrowings outstanding at September 30, 2022. Remainder of 2022 $ 46.2 2023 27.4 2024 1,993.4 2025 438.8 2026 3.4 Thereafter 1,246.5 Total borrowings 3,755.7 Unamortized original issue discount (3.2) Unamortized deferred financing costs (22.5) Total borrowings, net $ 3,730.0

Financial Instruments, Hedgin_2

Financial Instruments, Hedging Activities and Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The table below presents the fair values of our financial instruments measured on a recurring basis by level within the fair value hierarchy at September 30, 2022 and December 31, 2021. September 30, 2022 December 31, 2021 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Prepaid expenses and other current assets: Interest rate swaps (1) $ — $ 7.1 $ — $ 7.1 $ — $ — $ — $ — Cross-currency swaps (2) — 76.7 — 76.7 — 17.7 — 17.7 Foreign currency forward contracts (1) — 0.2 — 0.2 — — — — Other assets: Cross-currency swaps (2) — 34.3 — 34.3 — 8.3 — 8.3 Investments in equity securities 0.6 — — 0.6 0.7 — — 0.7 Liabilities: Other accrued liabilities: Interest rate swaps (1) — — — — — 24.3 — 24.3 Contingent consideration — — 7.0 7.0 — — 7.8 7.8 Other liabilities: Interest rate swaps (1) — — — — — 1.9 — 1.9 Long-term borrowings: 2024 Dollar Term Loans — 1,997.6 — 1,997.6 — 2,038.5 — 2,038.5 2025 Euro Senior Notes — 400.4 — 400.4 — 513.7 — 513.7 2027 Dollar Senior Notes — 445.3 — 445.3 — 522.9 — 522.9 2029 Dollar Senior Notes — 547.7 — 547.7 — 679.5 — 679.5 (1) Cash flow hedge (2) Net investment hedge
Schedule of Fair Value, Liability Activity	The table below presents a roll forward of activity for the Level 3 liabilities during the three and nine months ended September 30, 2022. Fair Value Using Significant Unobservable Inputs Beginning balance December 31, 2021 $ 7.8 Change in fair value — Ending balance at March 31, 2022 7.8 Change in fair value (0.3) Ending balance at June 30, 2022 7.5 Change in fair value (0.5) Ending balance at September 30, 2022 $ 7.0
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following table presents the fair values of derivative instruments that qualify and have been designated as cash flow and net investment hedges included in AOCI: September 30, 2022 December 31, 2021 AOCI: Interest rate swaps (cash flow hedges) $ (7.1) $ 26.3 Foreign currency forward contracts (cash flow hedges) (0.2) — Cross-currency swaps (net investment hedges) (135.6) (26.0) Total AOCI $ (142.9) $ 0.3
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The following tables set forth the locations and amounts recognized during the three and nine months ended September 30, 2022 and 2021 for these cash flow and net investment hedges. For the Three Months Ended September 30, 2022 2021 Derivatives in Cash Flow and Net Investment Hedges Location of Loss (Gain) Recognized in Income on Derivatives Net Amount of Gain Recognized in OCI on Derivatives Amount of Loss (Gain) Recognized in Income Net Amount of Loss (Gain) Recognized in OCI on Derivatives Amount of Loss (Gain) Recognized in Income Interest rate caps Interest expense, net $ — $ — $ — $ 0.7 Interest rate swaps Interest expense, net (2.5) 0.1 0.9 7.5 Foreign currency forward contracts Cost of goods sold (0.1) — — 0.1 Cross-currency swaps Interest expense, net (65.5) (5.4) (20.4) (4.8) For the Nine Months Ended September 30, 2022 2021 Derivatives in Cash Flow and Net Investment Hedges Location of Loss (Gain) Recognized in Income on Derivatives Net Amount of Gain Recognized in OCI on Derivatives Amount of Loss (Gain) Recognized in Income Net Amount of Loss (Gain) Recognized in OCI on Derivatives Amount of Loss (Gain) Recognized in Income Interest rate caps Interest expense, net $ — $ — $ — $ 1.9 Interest rate swaps Interest expense, net (21.8) 11.6 0.3 21.7 Foreign currency forward contracts Cost of goods sold (0.2) — — 0.2 Cross-currency swaps Interest expense, net (124.9) (15.3) (50.3) (14.3)
Derivatives Not Designated as Hedging Instruments	Fair value gains and losses of derivative contracts, as determined using Level 2 inputs, that have not been designated for hedge accounting treatment under ASC 815, Derivatives and hedging , are recorded in earnings as follows: Derivatives Not Designated as Hedging Location of Loss (Gain) Recognized in Income on Derivatives Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Foreign currency forward contracts Other expense (income), net $ 5.2 $ (0.9) $ 7.8 $ (6.8)

Segments (Tables)

Segments (Tables)	9 Months Ended
Segments (Tables)	Sep. 30, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table presents relevant information of our reportable segments. Three Months Ended September 30, Nine Months Ended 2022 2021 2022 2021 Net sales (1) : Refinish $ 498.7 $ 443.4 $ 1,451.2 $ 1,305.5 Industrial 339.3 335.8 1,057.0 986.8 Total Net sales Performance Coatings 838.0 779.2 2,508.2 2,292.3 Light Vehicle 303.0 235.4 861.5 758.2 Commercial Vehicle 97.7 74.0 278.0 228.5 Total Net sales Mobility Coatings 400.7 309.4 1,139.5 986.7 Total Net sales $ 1,238.7 $ 1,088.6 $ 3,647.7 $ 3,279.0 Depreciation and amortization expense (2) : Performance Coatings $ 55.5 $ 57.0 $ 171.2 $ 167.4 Mobility Coatings 19.0 22.3 58.3 67.3 Total Depreciation and amortization expense $ 74.5 $ 79.3 $ 229.5 $ 234.7 (1) The Company has no intercompany sales between segments. (2) Depreciation and amortization expenses relating to assets used within the operations of a specifically identifiable segment are recorded to the appropriate segment, while depreciation and amortization expenses relating to assets shared in our integrated supply chain are allocated to the appropriate segments on a consistent basis reflecting their use.
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following table reconciles our segment operating performance to income before income taxes for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Segment Adjusted EBIT (1) : Performance Coatings $ 121.8 $ 122.8 $ 341.6 $ 379.7 Mobility Coatings 3.6 (2.7) 6.4 42.2 Total (2) 125.4 120.1 348.0 421.9 Interest expense, net 35.0 33.8 101.1 100.7 Termination benefits and other employee related costs (a) 5.0 9.6 10.1 35.1 Strategic review and retention costs (b) — 2.1 — 9.7 Acquisition and divestiture-related costs (c) 0.2 9.2 2.8 10.8 Accelerated depreciation and site closure costs (d) 1.1 0.6 4.2 1.8 Operational matter (e) (0.1) (18.7) 0.1 3.9 Brazil indirect tax (f) — — — (8.3) Gain on sale of facility (g) — (8.9) — (8.9) Russia sanction-related impacts (h) (1.3) — 4.8 — Commercial agreement restructuring impacts (i) — — 25.0 — Other adjustments (j) 0.4 (0.9) — (0.8) Income before income taxes $ 85.1 $ 93.3 $ 199.9 $ 277.9 (1) The primary measure of segment operating performance is Adjusted EBIT, which is defined as net income before interest, taxes and select other items impacting operating results. These other items impacting operating results are items that management has concluded are (1) non-cash items included within net income, (2) items the Company does not believe are indicative of ongoing operating performance or (3) non-recurring, unusual or infrequent items that have not occurred within the last two years or we believe are not reasonably likely to recur within the next two years. Adjusted EBIT is a key metric that is used by management to evaluate business performance in comparison to budgets, forecasts and prior year financial results, providing a measure that management believes reflects the Company's core operating performance, which represents Adjusted EBIT adjusted for the select items referred to above. (2) Does not represent Adjusted EBIT referenced elsewhere by the Company as there are additional adjustments that are not allocated to the segments. (a) Represents expenses and associated changes to estimates related to employee termination benefits and other employee-related costs, which includes costs related to the transition of our CEO. Employee termination benefits are primarily associated with Axalta Way initiatives. These amounts are not considered indicative of our ongoing operating performance. (b) Represents costs for legal, tax and other advisory fees pertaining to our review of strategic alternatives that was concluded in March 2020, as well as retention awards for certain employees that were earned over a period of 18-24 months, which ended in September 2021. These amounts are not considered indicative of our ongoing performance. (c) Represents acquisition and divestiture-related expenses and integration activities associated with our business combinations, all of which are not considered indicative of our ongoing operating performance. The amount for the nine months ended September 30, 2022 includes $1.9 million of due diligence and other related costs associated with unconsummated merger and acquisition transactions. (d) Represents incremental depreciation expense resulting from truncated useful lives of the assets impacted by our manufacturing footprint assessments and costs related to the closure of certain manufacturing sites, which we do not consider indicative of our ongoing operating performance. (e) Represents expenses, changes in estimates and insurance recoveries for probable liabilities related to an operational matter in the Mobility Coatings segment discussed further in Note 6, which we do not consider indicative of our ongoing operating performance. (f) Represents non-recurring income related to a law change with respect to certain Brazilian indirect taxes which was recorded within other expense (income), net. (g) Represents non-recurring income related to the sale of a previously closed manufacturing facility. (h) Represents (benefits) expenses related to sanctions imposed on Russia in response to the conflict with Ukraine as a result of incremental reserves for accounts receivable, inventory obsolescence and business incentive payments, which we do not consider indicative of our ongoing operating performance. The benefits recorded during the three months ended September 30, 2022 are related to changes in estimated inventory obsolescence. (i) Represents a charge related to a customer concession discussed further in Note 2. These amounts are not considered to be indicative of our ongoing operating performance. (j) Represents costs for certain non-operational or non-cash losses and (gains), unrelated to our core business and which we do not consider indicative of ongoing operations.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
Accumulated Other Comprehensive Loss (Tables)	Sep. 30, 2022
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Unrealized Pension Unrealized Accumulated Balance, December 31, 2021 $ (331.3) $ (60.4) $ (22.7) $ (414.4) Current year deferrals to AOCI 0.4 — 10.8 11.2 Reclassifications from AOCI to Net income (4.8) 0.5 6.1 1.8 Net Change (4.4) 0.5 16.9 13.0 Balance, March 31, 2022 (335.7) (59.9) (5.8) (401.4) Current year deferrals to AOCI (77.1) — 6.1 (71.0) Reclassifications from AOCI to Net income (5.1) 0.4 3.9 (0.8) Net Change (82.2) 0.4 10.0 (71.8) Balance, June 30, 2022 (417.9) (59.5) 4.2 (473.2) Current year deferrals to AOCI (118.5) — 2.4 (116.1) Reclassifications from AOCI to Net income (5.4) 0.6 0.2 (4.6) Net Change (123.9) 0.6 2.6 (120.7) Balance, September 30, 2022 $ (541.8) $ (58.9) $ 6.8 $ (593.9) Unrealized Pension Unrealized Accumulated Balance, December 31, 2020 $ (282.0) $ (88.7) $ (54.1) $ (424.8) Current year deferrals to AOCI (32.6) — 1.3 (31.3) Reclassifications from AOCI to Net income (4.8) 0.7 6.6 2.5 Net Change (37.4) 0.7 7.9 (28.8) Balance, March 31, 2021 (319.4) (88.0) (46.2) (453.6) Current year deferrals to AOCI 43.4 — (0.8) 42.6 Reclassifications from AOCI to Net income (4.7) 1.0 6.7 3.0 Net Change 38.7 1.0 5.9 45.6 Balance, June 30, 2021 (280.7) (87.0) (40.3) (408.0) Current year deferrals to AOCI (32.6) — (0.8) (33.4) Reclassifications from AOCI to Net income (4.8) 0.8 7.1 3.1 Net Change (37.4) 0.8 6.3 (30.3) Balance, September 30, 2021 $ (318.1) $ (86.2) $ (34.0) $ (438.3)

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Contract with customer, asset	$ 41		$ 41		$ 36.1
Capitalized contract cost, net	142.6		142.6		151.2
Capitalized contract cost, amortization	14.3	$ 17.1	44.2	$ 46.1
Upfront incentive payments	42.6		42.6		72.7
Reserve for collection risk	0	$ 0	25	$ 0
Reduction to revenue	20.3		20.3
Prepaid expenses and other current assets
Disaggregation of Revenue [Line Items]
Upfront incentive payments	$ 4.8		$ 4.8		$ 12.6

Acquisitions - Additional Infor

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

Acquisitions - Fair Value of As

Acquisitions - Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021	Sep. 15, 2021
Business Acquisition [Line Items]
Goodwill from acquisition	$ 1,390.4	$ 1,592.7
U-POL
Business Acquisition [Line Items]
Cash			$ 23.7
Accounts and notes receivable, net			24.3
Inventories			23.3
Prepaid expenses and other current assets, net			3.2
Property, plant and equipment, net			14.1
Identifiable intangible assets			274
Other assets			2.1
Accounts payable			(22.7)
Other accrued liabilities			(4.2)
Other liabilities			(0.9)
Deferred income taxes			(69.1)
Net assets before goodwill from acquisition			267.8
Goodwill from acquisition			352
Net assets acquired			619.8
U-POL \| Previously Reported
Business Acquisition [Line Items]
Cash			23.7
Accounts and notes receivable, net			22.5
Inventories			23.3
Prepaid expenses and other current assets, net			3.2
Property, plant and equipment, net			16.5
Identifiable intangible assets			273
Other assets			2
Accounts payable			(20.9)
Other accrued liabilities			(3.9)
Other liabilities			(0.9)
Deferred income taxes			(68.4)
Net assets before goodwill from acquisition			270.1
Goodwill from acquisition			349.7
Net assets acquired			619.8
U-POL \| Revision of Prior Period, Adjustment
Business Acquisition [Line Items]
Cash			0
Accounts and notes receivable, net			1.8
Inventories			0
Prepaid expenses and other current assets, net			0
Property, plant and equipment, net			(2.4)
Identifiable intangible assets			1
Other assets			0.1
Accounts payable			(1.8)
Other accrued liabilities			(0.3)
Other liabilities			0
Deferred income taxes			(0.7)
Net assets before goodwill from acquisition			(2.3)
Goodwill from acquisition			2.3
Net assets acquired			$ 0

Goodwill and Identifiable Int_3

Goodwill and Identifiable Intangible Assets - Schedule of Goodwill (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 1,592.7
Purchase accounting adjustments	2.5
Foreign currency translation	(204.8)
Goodwill, ending balance	1,390.4
Performance Coatings
Goodwill [Roll Forward]
Goodwill, beginning balance	1,513.4
Purchase accounting adjustments	2.5
Foreign currency translation	(196.2)
Goodwill, ending balance	1,319.7
Mobility Coatings
Goodwill [Roll Forward]
Goodwill, beginning balance	79.3
Purchase accounting adjustments	0
Foreign currency translation	(8.6)
Goodwill, ending balance	$ 70.7

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	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	$ 1,956.4	$ 2,122.8
Accumulated Amortization	(862.9)	(844.6)
Net Book Value, definite-lived	1,093.5	1,278.2
Trademarks
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Net Book Value, indefinite-lived	239.4	266.7
Technology
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	528.6	575.3
Accumulated Amortization	(425.9)	(420.9)
Net Book Value, definite-lived	$ 102.7	$ 154.4
Weighted average amortization periods (years)	10 years 3 months 18 days	10 years 2 months 12 days
Trademarks
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	$ 118.3	$ 134.5
Accumulated Amortization	(45.8)	(43.8)
Net Book Value, definite-lived	$ 72.5	$ 90.7
Weighted average amortization periods (years)	14 years 7 months 6 days	14 years 4 months 24 days
Customer relationships
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	$ 1,069.5	$ 1,131.8
Accumulated Amortization	(390.6)	(366.6)
Net Book Value, definite-lived	$ 678.9	$ 765.2
Weighted average amortization periods (years)	19 years 2 months 12 days	19 years 2 months 12 days
Other
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	$ 0.6	$ 14.5
Accumulated Amortization	(0.6)	(13.3)
Net Book Value, definite-lived	$ 0	$ 1.2
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	Sep. 30, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2022	$ 29.7
2023	83.8
2024	79.4
2025	78.8
2026	78.4
2027	$ 77.4

Restructuring - Additional Info

Restructuring - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Restructuring and Related Activities [Abstract]
Restructuring charges	$ 4.2	$ 9.5	$ 10	$ 36.5
Payment term (in months)			24 months

Restructuring - Restructuring R

Restructuring - Restructuring Reserve (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Restructuring Reserve [Roll Forward]
Beginning balance			$ 57.5
Expenses, net of changes to estimates	$ 4.2	$ 9.5	10	$ 36.5
Payments made			(26)
Foreign currency translation			(5.2)
Ending balance	$ 36.3		$ 36.3

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Maximum exposure	$ 4.4		$ 4.4		$ 5.7
Current carrying value	0		0		0
Recorded charge (benefit) expense in probable loss	(0.1)	$ (18.7)	0.1	$ 3.9
Insurance receivable	38.7		38.7		52.7
Loss recorded as a liability	$ 43.9		$ 43.9		$ 49.7

Long-term Employee Benefits - S

Long-term Employee Benefits - Schedule of Net Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Retirement Benefits [Abstract]
Service cost	$ 1.5	$ 2	$ 4.8	$ 5.8
Interest cost	2.3	1.9	7.2	5.8
Expected return on plan assets	(2.8)	(3.4)	(9.1)	(10.3)
Amortization of actuarial losses, net	0.7	1.3	2.4	3.8
Amortization of prior service cost, net	0	(0.1)	(0.1)	(0.1)
Net periodic benefit cost	$ 1.7	$ 1.7	$ 5.2	$ 5

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 5,000,000	$ 3,900,000	$ 14,000,000	$ 11,700,000
Stock based compensation tax benefit	1,200,000	$ 500,000	2,200,000	$ 1,200,000
Proceeds from stock options exercised			400,000
Tax benefits on exercises			100,000
Unrecognized expense	0		0
Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefit realized on the vesting of restricted stock			100,000
Compensation not yet recognized, share-based awards other than options	28,200,000		$ 28,200,000
Period for recognition of compensation not yet recognized			1 year 3 months 18 days
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation not yet recognized, share-based awards other than options	$ 1,600,000		$ 1,600,000
Period for recognition of compensation not yet recognized			2 years 1 month 6 days
Performance stock awards expected to vest (in shares)	0.1		0.1
Weighted average fair value per share of performance stock awards expected to vest (in usd per share)	$ 30.19		$ 30.19

Stock-based Compensation - Sche

Stock-based Compensation - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2022
Awards (in millions)
Beginning Balance (in shares)	1.4
Granted (in shares)	0
Exercised (in shares)	0
Forfeited/Expired (in shares)	(0.2)
Ending Balance (in shares)	1.2
Weighted- Average Exercise Price
Beginning Balance (in usd per share)	$ 26.30
Granted (in usd per share)	0
Exercised (in usd per share)	14.28
Forfeited/Expired (in usd per share)	29.13
Ending Balance (in usd per share)	$ 26.20
Vested and Expected to Vest
Vested and expected to vest, awards (in shares)	1.2
Vested and expected to vest, weighted average exercise price (in usd per share)	$ 26.20
Vested and expected to vest, aggregate intrinsic value	$ 1.5
Vested and expected to vest, weighted average contractual life (in years)	3 years 14 days
Exercisable
Exercisable, awards (in shares)	1.2
Exercisable, weighted average exercise price (in usd per share)	$ 26.20
Exercisable, aggregate intrinsic value	$ 1.5
Exercisable, weighted average contractual life (in years)	3 years 14 days

Stock-based Compensation - Sc_2

Stock-based Compensation - Schedule of Restricted Stock Awards and Restricted Stock Units (Details) - Restricted Stock and Restricted Stock Units shares in Millions	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Units (millions)
Beginning Balance (in shares) \| shares	1.1
Granted (in shares) \| shares	1.3
Vested (in shares) \| shares	(0.5)
Forfeited (in shares) \| shares	(0.2)
Ending Balance (in shares) \| shares	1.7
Weighted Average Fair Value
Beginning Balance (in usd per share) \| $ / shares	$ 28.85
Granted (in usd per share) \| $ / shares	26.88
Vested (in usd per share) \| $ / shares	28.69
Forfeited (in usd per share) \| $ / shares	28.85
Ending Balance (in usd per share) \| $ / shares	$ 27.34

Stock-based Compensation - Sc_3

Stock-based Compensation - Schedule of Performance Shares Award Outstanding Activity (Details) - Performance Shares shares in Millions	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Units (millions)
Beginning Balance (in shares) \| shares	0.8
Granted (in shares) \| shares	0.4
Vested (in shares) \| shares	(0.1)
Forfeited (in shares) \| shares	(0.5)
Ending Balance (in shares) \| shares	0.6
Weighted Average Fair Value
Beginning Balance (in usd per share) \| $ / shares	$ 30.10
Granted (in usd per share) \| $ / shares	30.61
Vested (in usd per share) \| $ / shares	29.12
Forfeited (in usd per share) \| $ / shares	30.18
Ending Balance (in usd per share) \| $ / shares	$ 30.44

Other Expense (Income), Net - S

Other Expense (Income), Net - Schedule of Other Non-operating Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Other Income and Expenses [Abstract]
Foreign exchange losses (gains), net	$ 5.8	$ (0.7)	$ 13.3	$ 2.9
Other miscellaneous income, net	(2.4)	(1.7)	(0.9)	(13.8)
Total	3.4	(2.4)	12.4	(10.9)
Reserve for contingent customer concession			4.7
Brazil indirect tax	$ 0	$ 0	$ 0	$ 8.3

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	9 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Effective Tax Rate	25.80%	24.10%
Settlement with Taxing Authority
income tax settlement [Line Items]
Amount reasonable possible to settle of unrecognized tax benefits	$ 9.7

Net Income Per Common Share (De

Net Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Net income to common shareholders	$ 62.4	$ 69.1	$ 148	$ 210.7
Basic weighted average shares outstanding (in shares)	220.6	229.9	222	232.1
Diluted weighted average shares outstanding (in shares)	221.2	230.7	222.6	233
Net income per common share:
Basic net income per share (in dollars per share)	$ 0.28	$ 0.30	$ 0.67	$ 0.91
Diluted net income per share (in dollars per share)	$ 0.28	$ 0.30	$ 0.66	$ 0.90
Antidilutive securities excluded from computation of earnings per share (in shares)	1.1	0.3	1.1	0.8

Accounts and Notes Receivable_3

Accounts and Notes Receivable, Net - Schedule of Accounts, Notes, Loans, and Financing Receivable (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Receivables [Abstract]
Accounts receivable - trade, net	$ 952.2	$ 760.4
Notes receivable	11.5	24.7
Other	143.2	152.4
Total	1,106.9	937.5
Allowance for doubtful accounts	22.7	22
Insurance receivable	$ 38.7	$ 52.7

Accounts and Notes Receivable_4

Accounts and Notes Receivable, Net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Bad debt expense (benefit) net of recoveries	$ 0.9	$ 0.4	$ 1	$ 1.3
Russia Conflict With Ukraine
Financing Receivable, Allowance for Credit Loss [Line Items]
Bad debt expense (benefit) net of recoveries	$ 0.1		$ 3.2

Inventories - Schedule of Inven

Inventories - Schedule of Inventory (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Finished products	$ 405.8	$ 355.9
Semi-finished products	135.1	109.7
Raw materials	261.4	180.8
Stores and supplies	27.1	23.3
Total Inventories	$ 829.4	$ 669.7

Inventories - Additional Inform

Inventories - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Inventory reserves	$ 19	$ 15.6

Property, Plant and Equipment_3

Property, Plant and Equipment, Net - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Property, plant and equipment	$ 2,237.3	$ 2,299.4
Accumulated depreciation	(1,115.8)	(1,113.2)
Property, plant, and equipment, net	$ 1,121.5	$ 1,186.2

Property, Plant and Equipment_4

Property, Plant and Equipment, Net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 29	$ 31.5	$ 89	$ 96.3

Borrowings - Schedule of Debt (

Borrowings - Schedule of Debt (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Short-term and other borrowings	$ 99.4	$ 113.8
Unamortized original issue discount	(3.2)	(4.6)
Unamortized deferred financing costs	(22.5)	(27.3)
Total borrowings, net	3,730	3,829.6
Short-term borrowings	42.4	55.4
Current portion of long-term borrowings	24.3	24.3
Long-term debt	3,663.3	3,749.9
2024 Dollar Term Loans
Debt Instrument [Line Items]
Term loan	2,020.7	2,038.9
2025 Euro Senior Notes
Debt Instrument [Line Items]
Senior Notes	435.6	508.8
2027 Dollar Senior Notes
Debt Instrument [Line Items]
Senior Notes	500	500
2029 Dollar Senior Notes
Debt Instrument [Line Items]
Senior Notes	$ 700	$ 700

Borrowings - Additional Informa

Borrowings - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Debt Instrument [Line Items]
Short-term borrowings	$ 42.4		$ 42.4		$ 55.4
Cash outflows			$ 52.3	$ 54.5
Supplier Financing Arrangements
Debt Instrument [Line Items]
Debt term			90 days
Short-term borrowings	13	$ 14.9	$ 13	14.9
Cash outflows	8.4	13.5	52.3	44.4
Supplier Financing Arrangements \| Property, Plant, And Equipment Purchases
Debt Instrument [Line Items]
Short-term borrowings	1.9	$ 2.2	1.9	$ 2.2
Revolving Credit Facility
Debt Instrument [Line Items]
Letters of credit outstanding, amount	21.1		21.1		22.1
Line of credit facility, remaining borrowing capacity	$ 528.9		$ 528.9		$ 527.9

Borrowings - Schedule of Maturi

Borrowings - Schedule of Maturities of Long-term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Remainder of 2022	$ 46.2
2023	27.4
2024	1,993.4
2025	438.8
2026	3.4
Thereafter	1,246.5
Total borrowings	3,755.7
Unamortized original issue discount	(3.2)	$ (4.6)
Unamortized deferred financing costs	(22.5)	(27.3)
Total borrowings, net	$ 3,730	$ 3,829.6

Financial Instruments, Hedgin_3

Financial Instruments, Hedging Activities and Fair Value Measurements - Additional Information (Details) € in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2022 USD ($) derivative_instrument	Mar. 31, 2022 EUR (€)	Sep. 30, 2022 USD ($) derivative_instrument	Sep. 30, 2021 USD ($)	Sep. 30, 2022 EUR (€) derivative_instrument	Apr. 30, 2021 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of contingent consideration			$ 7			$ 7.3
Cash proceeds on cross-currency swaps	$ 25		25	$ 0
Cash flow hedge loss to be reclassified within twelve months			$ 7.3
Cross-currency swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of derivative instruments settled \| derivative_instrument	2
Notional amount, settled during period \| €		€ 335
Number of derivative instruments held \| derivative_instrument			2		2
Derivative, notional amount			$ 365.5		€ 335
Derivative interest rate of hedged item			3.375%		3.375%
Derivative, fixed interest rate			2.04%		2.04%
Foreign currency forward contracts \| Cash flow hedging \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, notional amount	$ 3

Financial Instruments, Hedgin_4

Financial Instruments, Hedging Activities and Fair Value Measurements - Schedule of Fair Value of Financial Instruments (Details) - Fair Value, Recurring - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in equity securities	$ 0.6	$ 0.7
Other accrued liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	7	7.8
Long-term borrowings \| 2024 Dollar Term Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans payable, fair value	1,997.6	2,038.5
Long-term borrowings \| 2025 Euro Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	400.4	513.7
Long-term borrowings \| 2027 Dollar Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	445.3	522.9
Long-term borrowings \| 2029 Dollar Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	547.7	679.5
Interest rate swaps \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	7.1	0
Interest rate swaps \| Other accrued liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0	24.3
Interest rate swaps \| Other liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0	1.9
Cross-currency swaps \| Prepaid expenses and other current assets \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	76.7	17.7
Cross-currency swaps \| Other assets \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	34.3	8.3
Foreign currency forward contracts \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0.2	0
Level 1 \| Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in equity securities	0.6	0.7
Level 1 \| Other accrued liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	0	0
Level 1 \| Long-term borrowings \| 2024 Dollar Term Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans payable, fair value	0	0
Level 1 \| Long-term borrowings \| 2025 Euro Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0	0
Level 1 \| Long-term borrowings \| 2027 Dollar Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0	0
Level 1 \| Long-term borrowings \| 2029 Dollar Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0	0
Level 1 \| Interest rate swaps \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Level 1 \| Interest rate swaps \| Other accrued liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0	0
Level 1 \| Interest rate swaps \| Other liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0	0
Level 1 \| Cross-currency swaps \| Prepaid expenses and other current assets \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Level 1 \| Cross-currency swaps \| Other assets \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Level 1 \| Foreign currency forward contracts \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Level 2 \| Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in equity securities	0	0
Level 2 \| Other accrued liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	0	0
Level 2 \| Long-term borrowings \| 2024 Dollar Term Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans payable, fair value	1,997.6	2,038.5
Level 2 \| Long-term borrowings \| 2025 Euro Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	400.4	513.7
Level 2 \| Long-term borrowings \| 2027 Dollar Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	445.3	522.9
Level 2 \| Long-term borrowings \| 2029 Dollar Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	547.7	679.5
Level 2 \| Interest rate swaps \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	7.1	0
Level 2 \| Interest rate swaps \| Other accrued liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0	24.3
Level 2 \| Interest rate swaps \| Other liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0	1.9
Level 2 \| Cross-currency swaps \| Prepaid expenses and other current assets \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	76.7	17.7
Level 2 \| Cross-currency swaps \| Other assets \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	34.3	8.3
Level 2 \| Foreign currency forward contracts \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0.2	0
Level 3 \| Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in equity securities	0	0
Level 3 \| Other accrued liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	7	7.8
Level 3 \| Long-term borrowings \| 2024 Dollar Term Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans payable, fair value	0	0
Level 3 \| Long-term borrowings \| 2025 Euro Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0	0
Level 3 \| Long-term borrowings \| 2027 Dollar Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0	0
Level 3 \| Long-term borrowings \| 2029 Dollar Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0	0
Level 3 \| Interest rate swaps \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Level 3 \| Interest rate swaps \| Other accrued liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0	0
Level 3 \| Interest rate swaps \| Other liabilities \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0	0
Level 3 \| Cross-currency swaps \| Prepaid expenses and other current assets \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Level 3 \| Cross-currency swaps \| Other assets \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Level 3 \| Foreign currency forward contracts \| Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	$ 0	$ 0

Financial Instruments, Hedgin_5

Financial Instruments, Hedging Activities and Fair Value Measurements - Schedule of Liability Activity (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 7.5	$ 7.8	$ 7.8
Change in fair value	(0.5)	(0.3)	0
Ending balance	$ 7	$ 7.5	$ 7.8

Financial Instruments, Hedgin_6

Financial Instruments, Hedging Activities and Fair Value Measurements - Accumulated Other Comprehensive (Loss) Income (Details) - Level 2 - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AOCI	$ (142.9)	$ 0.3
Cash flow hedging \| Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AOCI	(7.1)	26.3
Cash flow hedging \| Foreign currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AOCI	(0.2)	0
Net investment hedging \| Cross-currency swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total AOCI	$ (135.6)	$ (26)

Financial Instruments, Hedgin_7

Financial Instruments, Hedging Activities and Fair Value Measurements - Derivative Locations and Amounts Recognized (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Amount of Loss (Gain) Recognized in OCI on Derivatives	$ 2.7	$ 7.4	$ 33.6	$ 23.5
Interest rate caps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Amount of Loss (Gain) Recognized in OCI on Derivatives	0	0	0	0
Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Amount of Loss (Gain) Recognized in OCI on Derivatives	(2.5)	0.9	(21.8)	0.3
Foreign currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Amount of Loss (Gain) Recognized in OCI on Derivatives	(0.1)	0	(0.2)	0
Cross-currency swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Amount of Loss (Gain) Recognized in OCI on Derivatives	(65.5)	(20.4)	(124.9)	(50.3)
Interest expense \| Interest rate caps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount of Loss (Gain) Recognized in Income	0	0.7	0	1.9
Interest expense \| Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount of Loss (Gain) Recognized in Income	0.1	7.5	11.6	21.7
Interest expense \| Foreign currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	5.2	(0.9)	7.8	(6.8)
Interest expense \| Cross-currency swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount of Loss (Gain) Recognized in Income	(5.4)	(4.8)	(15.3)	(14.3)
Cost of goods sold \| Foreign currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount of Loss (Gain) Recognized in Income	$ 0	$ 0.1	$ 0	$ 0.2

Segments - Additional Informati

Segments - Additional Information (Details)	9 Months Ended
Segments - Additional Information (Details)	Sep. 30, 2022 Segment
Segment Reporting [Abstract]
Number of operating segments	2
Number of reportable segments	2

Segments - Schedule of Segment

Segments - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Net sales	$ 1,238.7	$ 1,088.6	$ 3,647.7	$ 3,279
Depreciation and amortization expense	74.5	79.3	229.5	234.7
Intercompany sales between segments	0	0	0	0
Performance Coatings
Segment Reporting Information [Line Items]
Net sales	838	779.2	2,508.2	2,292.3
Depreciation and amortization expense	55.5	57	171.2	167.4
Mobility Coatings
Segment Reporting Information [Line Items]
Net sales	400.7	309.4	1,139.5	986.7
Depreciation and amortization expense	19	22.3	58.3	67.3
Refinish \| Performance Coatings
Segment Reporting Information [Line Items]
Net sales	498.7	443.4	1,451.2	1,305.5
Industrial \| Performance Coatings
Segment Reporting Information [Line Items]
Net sales	339.3	335.8	1,057	986.8
Light Vehicle \| Mobility Coatings
Segment Reporting Information [Line Items]
Net sales	303	235.4	861.5	758.2
Commercial Vehicle \| Mobility Coatings
Segment Reporting Information [Line Items]
Net sales	$ 97.7	$ 74	$ 278	$ 228.5

Segments - Reconciliation of Op

Segments - Reconciliation of Operating Profit (Loss) from Segments to Consolidated (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBIT	$ 125.4	$ 120.1	$ 348	$ 421.9
Interest expense, net	35	33.8	101.1	100.7
Termination benefits and other employee related costs	5	9.6	10.1	35.1
Strategic review and retention costs	0	2.1	0	9.7
Acquisition and divestiture-related costs	0.2	9.2	2.8	10.8
Accelerated depreciation and site closure costs	1.1	0.6	4.2	1.8
Operational matter	(0.1)	(18.7)	0.1	3.9
Brazil indirect tax	0	0	0	(8.3)
Gain on sale of facility	0	(8.9)	0	(8.9)
Russia sanction-related impacts	(1.3)	0	4.8	0
Commercial agreement restructuring charge	0	0	25	0
Other adjustments	0.4	(0.9)	0	(0.8)
Income before income taxes	85.1	93.3	199.9	277.9
Due diligence cost			1.9
Performance Coatings
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBIT	121.8	122.8	341.6	379.7
Mobility Coatings
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBIT	$ 3.6	$ (2.7)	$ 6.4	$ 42.2
Minimum
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Retention payment terms			18 months
Maximum
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Retention payment terms			24 months

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI, beginning balance			$ (414.4)
Current year deferrals to AOCI	$ (116.1)	$ (71)	11.2	$ (33.4)	$ 42.6	$ (31.3)
Reclassifications from AOCI to Net income	(4.6)	(0.8)	1.8	3.1	3	2.5
Net Change	(120.7)	(71.8)	13	(30.3)	45.6	(28.8)
AOCI, ending balance	(593.9)
Unrealized Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI, beginning balance	(417.9)	(335.7)	(331.3)	(280.7)	(319.4)	(282)
Current year deferrals to AOCI	(118.5)	(77.1)	0.4	(32.6)	43.4	(32.6)
Reclassifications from AOCI to Net income	(5.4)	(5.1)	(4.8)	(4.8)	(4.7)	(4.8)
Net Change	(123.9)	(82.2)	(4.4)	(37.4)	38.7	(37.4)
AOCI, ending balance	(541.8)	(417.9)	(335.7)	(318.1)	(280.7)	(319.4)
Pension Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI, beginning balance	(59.5)	(59.9)	(60.4)	(87)	(88)	(88.7)
Current year deferrals to AOCI	0	0	0	0	0	0
Reclassifications from AOCI to Net income	0.6	0.4	0.5	0.8	1	0.7
Net Change	0.6	0.4	0.5	0.8	1	0.7
AOCI, ending balance	(58.9)	(59.5)	(59.9)	(86.2)	(87)	(88)
Unrealized (Loss) Gain on Derivatives
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI, beginning balance	4.2	(5.8)	(22.7)	(40.3)	(46.2)	(54.1)
Current year deferrals to AOCI	2.4	6.1	10.8	(0.8)	(0.8)	1.3
Reclassifications from AOCI to Net income	0.2	3.9	6.1	7.1	6.7	6.6
Net Change	2.6	10	16.9	6.3	5.9	7.9
AOCI, ending balance	6.8	4.2	(5.8)	(34)	(40.3)	(46.2)
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI, beginning balance	(473.2)	(401.4)	(414.4)	(408)	(453.6)	(424.8)
AOCI, ending balance	$ (593.9)	$ (473.2)	$ (401.4)	$ (438.3)	$ (408)	$ (453.6)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2022	Sep. 30, 2021
Equity [Abstract]
Cumulative income tax benefit on pension and postretirement benefit plans	$ 24	$ 32.3
Cumulative income tax gain (loss) on derivatives	$ 0.5	$ (5.4)