Diversey (DSEY) 10-Q 4 Aug 22 2022 Q2 Quarterly report Financial data

COVER

COVER - shares	6 Months Ended
	Jun. 30, 2022	Jul. 31, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-40293
Entity Registrant Name	DIVERSEY HOLDINGS, LTD.
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	1300 Altura Road, Suite 125
Entity Address, City or Town	Fort Mill
Entity Address, State or Province	SC
Entity Address, Postal Zip Code	29708
City Area Code	803
Local Phone Number	746-2200
Title of 12(b) Security	Ordinary Shares, par value $0.0001
Trading Symbol	DSEY
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		324,264,670
Entity Central Index Key	0001831617
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 248.2	$ 207.6
Trade receivables, net of allowance for doubtful accounts of $22.5 and $23.5	416.2	414.3
Other receivables	64.9	59.3
Inventories	369.7	337.6
Prepaid expenses and other current assets	105.7	69.4
Total current assets	1,204.7	1,088.2
Property and equipment, net	229.4	210.7
Goodwill	468	471.5
Intangible assets, net	2,021.3	2,147.3
Other non-current assets	365	382.3
Total assets	4,288.4	4,300
Current liabilities:
Short-term borrowings	6.5	10.7
Current portion of long-term debt	11.4	10.9
Accounts payable	516.3	434.3
Accrued restructuring costs	15.4	16.7
Other current liabilities	384.3	384.5
Total current liabilities	933.9	857.1
Long-term debt, less current portion	1,973.6	1,973
Deferred taxes	162.7	164.3
Other non-current liabilities	487.9	520
Total liabilities	3,558.1	3,514.4
Commitments and contingencies
Stockholders' equity:
Ordinary shares, $0.01 par value per share, 1,000,000,000 shares authorized, 324,264,670 and 324,369,517 shares outstanding in 2022 and 2021	0	0
Preferred shares, $0.0001 par value per share, 200,000,000 shares authorized, 0 shares outstanding in 2022 and 2021	0	0
Additional paid-in capital	1,694.6	1,662.7
Accumulated deficit	(793.4)	(720.1)
Accumulated other comprehensive loss	(170.9)	(157)
Total stockholders' equity	730.3	785.6
Total liabilities and stockholders' equity	$ 4,288.4	$ 4,300

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 22.5	$ 23.5
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares outstanding	324,264,670	324,369,517
Preferred stock, par value (usd per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	200,000,000	200,000,000
Preferred stock, shares outstanding	0	0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Net sales	$ 715.3	$ 650.1	$ 1,375.3	$ 1,281.6
Cost of sales	478.3	384.5	902.2	769.6
Gross profit	237	265.6	473.1	512
Selling, general and administrative expenses	209.7	206.2	423.4	449.3
Transaction and integration costs	9.1	6.9	13.6	20.2
Management fee	0	0	0	19.4
Amortization of intangible assets	22.8	24.1	47	48.4
Restructuring and exit costs	18.4	5.4	28.2	8
Operating income (loss)	(23)	23	(39.1)	(33.3)
Interest expense	27	27.9	57.3	71.6
Impact of highly inflationary subsidiaries	(1.3)	2.2	(1.6)	0.2
Other (income) expense, net	(15)	4	(23.9)	4.1
Loss before income tax provision (benefit)	(33.7)	(11.1)	(70.9)	(109.2)
Income tax provision (benefit)	0.5	(9.8)	2.4	(12.2)
Net loss	$ (34.2)	$ (1.3)	$ (73.3)	$ (97)
Basic loss per share (usd per share)	$ (0.11)	$ 0	$ (0.23)	$ (0.35)
Diluted loss per share (usd per share)	$ (0.11)	$ 0	$ (0.23)	$ (0.35)
Basic weighted average shares outstanding (in shares)	319.8	300.8	319.7	274.2
Diluted weighted average shares outstanding (in shares)	319.8	300.8	319.7	274.2

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (34.2)	$ (1.3)	$ (73.3)	$ (97)
Other comprehensive income (loss):
Pension plans and post-employment benefits, net of taxes	(0.3)	0	(0.8)	0
Cash flow hedging activities, net of taxes of $(4.6), $0.0, $(11.2) and $(1.0)	14.4	1.1	32.2	5.1
Foreign currency translation adjustments	(41.4)	21.7	(45.3)	54.3
Other comprehensive income (loss)	(27.3)	22.8	(13.9)	59.4
Comprehensive income (loss)	$ (61.5)	$ 21.5	$ (87.2)	$ (37.6)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Cash flow hedging activities, tax	$ (4.6)	$ 0	$ (11.2)	$ (1)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Balance at Dec. 31, 2020	$ (508.6)	$ 2.2	$ 247.2	$ (545.3)	$ (212.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	53.2		53.2
Pension and post-employment benefits	0
Cash flow hedging activities, net of tax	5.1				5.1
Foreign currency translation adjustments	54.3				54.3
Net loss	(97)			(97)
Issuance of ordinary shares sold in IPO, net of offering costs	725.7		725.7
Effect of reorganization transactions	(41.8)	(2.2)	(39.6)
Exchange of preferred equity certificates for ordinary shares	620.9		620.9
Conversion of share-based awards	68.1		68.1
Tax receivable agreement	(255.7)		(255.7)
Balance at Jun. 30, 2021	624.2	0	1,419.8	(642.3)	(153.3)
Balance at Mar. 31, 2021	515.6		1,332.7	(641)	(176.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	15.7		15.7
Pension and post-employment benefits	0
Cash flow hedging activities, net of tax	1.1				1.1
Foreign currency translation adjustments	21.7				21.7
Net loss	(1.3)			(1.3)
Issuance of ordinary shares sold in IPO, net of offering costs	71.4		71.4
Balance at Jun. 30, 2021	624.2	0	1,419.8	(642.3)	(153.3)
Balance at Dec. 31, 2021	785.6	0	1,662.7	(720.1)	(157)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	31.9		31.9
Pension and post-employment benefits	(0.8)				(0.8)
Cash flow hedging activities, net of tax	32.2				32.2
Foreign currency translation adjustments	(45.3)				(45.3)
Net loss	(73.3)			(73.3)
Balance at Jun. 30, 2022	730.3	0	1,694.6	(793.4)	(170.9)
Balance at Mar. 31, 2022	775	0	1,677.8	(759.2)	(143.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	16.8		16.8
Pension and post-employment benefits	(0.3)				(0.3)
Cash flow hedging activities, net of tax	14.4				14.4
Foreign currency translation adjustments	(41.4)				(41.4)
Net loss	(34.2)			(34.2)
Balance at Jun. 30, 2022	$ 730.3	$ 0	$ 1,694.6	$ (793.4)	$ (170.9)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021
Operating activities:
Net loss		$ (73.3)	$ (97)
Adjustments to reconcile net loss to cash provided by (used in) operating activities:
Depreciation and amortization		93.9	94
Amortization of deferred financing costs and original issue discount		3.6	19.3
Gain on derivatives		4.2	0
Deferred taxes		(10.2)	(6.2)
Unrealized foreign exchange (gain) loss		(5.3)	7.6
Share-based compensation		31.9	53.2
Impact of highly inflationary subsidiaries		(1.6)	0.2
Provision for bad debts		1.8	3.3
Provision for slow moving inventory		16.1	3.1
Non-cash pension benefit		(7)	(8.3)
Changes in operating assets and liabilities:
Trade receivables, net		(22.2)	(66.8)
Inventories, net		(52.7)	(53.1)
Accounts payable		100.2	25.2
Income taxes, net		(9.7)	(23)
Other assets and liabilities, net		(4.8)	(51.2)
Cash provided by (used in) operating activities		64.9	(99.7)
Investing activities:
Business acquired in purchase transactions, net of cash acquired		(41.4)	0
Payments to Acquire Intangible Assets		0	(3)
Dosing and dispensing equipment		(38.6)	(30.2)
Capital expenditures		(35.4)	(11.6)
Collection of deferred factored receivables		0	32.4
Cash used in investing activities		(115.4)	(12.4)
Financing activities:
Contingent consideration payments		0	(0.1)
Proceeds from (payments on) short-term borrowings		(3.6)	3.1
Proceeds from revolving credit facility		50	25
Payments on revolving credit facility		(50)	(25)
Payments on long-term borrowings		(8.7)	(733.9)
Payment of deferred financing costs		0	(2.5)
Issuance of ordinary shares sold in IPO, net of offering costs		0	725.7
Proceeds from termination of derivatives		112.2	0
Cash provided by (used in) financing activities		99.9	(7.7)
Exchange rate changes on cash, cash equivalents and restricted cash		(8.8)	(2.9)
Increase (decrease) in cash, cash equivalents and restricted cash		40.6	(122.7)
Cash, cash equivalents and restricted cash at beginning of period	[1]	208.2	201.7
Cash, cash equivalents and restricted cash at end of period	[2]	248.8	79
Supplemental Cash Flow Information:
Interest payments		45	57.5
Income tax payments		22.5	16.8
Non-cash conversion of preferred equity certificates to equity		0	620.9
Beneficial interest obtained in exchange for factored receivables		$ 0	$ 17.1
[1]Restricted cash was $0.6 million and $14.0 million as of December 31, 2021 and December 31, 2020, respectively.[2]Restricted cash was $0.6 million and $8.3 million as of June 30, 2022 and June 30, 2021, respectively.

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Statement of Cash Flows [Abstract]
Restricted cash collateral	$ 0.6	$ 0.6	$ 8.3	$ 14

THE COMPANY AND BASIS OF PRESEN

THE COMPANY AND BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
THE COMPANY AND BASIS OF PRESENTATION	THE COMPANY AND BASIS OF PRESENTATION Description of Business Diversey Holdings, Ltd. (hereafter the "Company", “we”, “us”, and “our”) is a leading provider of hygiene, infection prevention and cleaning solutions. We develop mission-critical products, services and technologies that save lives and protect our environment. We were formed as an exempted company incorporated under the laws of the Cayman Islands with limited liability on November 3, 2020 for the purpose of completing a public offering and related transactions and in order to carry on the business of our indirect wholly-owned operating subsidiaries. On March 29, 2021, we completed an initial public offering of 46,153,846 Ordinary Shares at a public offering price of $15.00 per Ordinary Share (the "IPO"), receiving $654.3 million in net proceeds, after deducting the underwriting discount and offering expenses. On April 9, 2021, we issued and sold an additional 5,000,000 Ordinary Shares pursuant to the underwriters' partial exercise of their option to purchase additional shares, receiving an incremental $71.4 million in net proceeds, after deducting the underwriting discount and offering expenses. Our Ordinary Shares trade on The Nasdaq Global Select Market under the ticker symbol "DSEY". On November 15, 2021, we issued and sold 15,000,000 Ordinary Shares at a public offering price of $15.00 per Ordinary Share, receiving $214.4 million in net proceeds, after deducting the underwriting discount and offering expenses. Prior to the formation of Diversey Holdings, Ltd., the organizational structure consisted of Constellation (BC) 2 S.à r.l ("Constellation"), which was incorporated on June 30, 2017, and organized under the laws of Luxembourg as a Société à Responsabilité Limitée for an unlimited period under the direction of Bain Capital, LP (“Bain Capital”). Diamond (BC) B.V., an indirect wholly-owned subsidiary of Constellation, was formed on March 15, 2017 for the purpose of consummating the acquisition of the Diversey Care division and the food hygiene and cleaning business of Sealed Air Corporation (“Sealed Air”) (together, the “Diversey Business”), including certain assets and all the capital stock of certain entities engaged in the Diversey Business (the “Diversey Acquisition”), which acquisition closed on September 6, 2017. Prior to closing of the IPO, we effected a series of transactions (the "Reorganization Transactions") pursuant to which: (i) Constellation (BC) PoolCo SCA (“Poolco”), an entity incorporated for the purpose of pooling the interests of our employees, directors and officers in Constellation (BC) S.à r.l (“Topco”), a direct subsidiary of Constellation, repurchased shares from certain equity holders in exchange for a note receivable; (ii) all other equity holders of Poolco contributed their shares of Poolco to Constellation in exchange for new shares of Constellation; and (iii) the equity holders of Constellation, including Bain Capital and the individuals referred to in the foregoing clause (ii), contributed a portion of their shares of Constellation to the Company, and the equity holders referred to in the foregoing clause (i) contributed a portion of their note receivable to the Company, in each case, in exchange for ordinary shares of the Company (in which the Company withheld a portion of the ordinary shares otherwise issuable solely to the extent necessary to satisfy (y) any outstanding loans owned by such employee equity holders and (z) any tax consequences resulting to the equity holders from the repurchase, and the aggregate fair market value of such withheld ordinary shares will be paid by the Company or a subsidiary thereof to satisfy such tax consequence) and the equity holders of Constellation, including Bain Capital and the individuals referred to in the foregoing clause (ii), contributed the remaining portion of their shares of Constellation to one of our subsidiaries, and the equity holders referred to in the foregoing clause (i) contributed the remaining portion of their note receivable to one of our subsidiaries, in each case, in exchange for payments to be made under the Tax Receivable Agreement entered into in connection with the IPO and certain other consideration. The Reorganization Transactions resulted in the Company becoming the ultimate parent company of Constellation and its subsidiaries, and Bain Capital and all other equity holders of Constellation and Poolco becoming shareholders of the Company. In order to simplify our corporate structure, we merged or liquidated certain of our wholly-owned subsidiaries, including Constellation, Poolco and Topco, prior to December 31, 2021. The Reorganization Transactions were considered transactions between entities under common control. As a result, the financial statements for periods prior to the IPO and the Reorganization Transactions have been adjusted to combine the previously separate entities for presentation purposes. Nature of Operations We are a leading global provider of high performance hygiene, infection prevention, and cleaning solutions for the Institutional and Food & Beverage markets. In addition, we offer a wide range of value added services, including food safety and application training and consulting, as well as auditing of hygiene and water management. Our Institutional business provides solutions serving end-users such as healthcare facilities, food service providers, retail and grocery outlets, educational institutions, hospitality establishments, and building service contractors. Our Food & Beverage business provides solutions serving manufacturers in the brewing, beverage, dairy, processed foods, pharmaceutical, and agricultural markets. Although our cleaning products represent only a small portion of our customers’ total cleaning costs, they are typically viewed as being non discretionary because they can have a meaningful impact on the efficacy of food safety, operational excellence, and sustainability. The COVID-19 pandemic has further reinforced the essential nature of our solutions and increased hygiene, infection prevention, and cleaning standards across all markets. The product range of Diversey®-branded solutions includes fully integrated lines of products and dispensing systems for hard surface cleaning, disinfecting and sanitizing, hand washing, deodorizing, mechanical and manual ware washing, hard surface and carpeted floor cleaning systems, cleaning tools and utensils, fabric care for professional laundry applications comprising detergents, stain removers, bleaches and a broad range of dispensing equipment for process control and management information systems. Floor care machines are commercialized under the well-established Taski® brand. We are globally operated with manufacturing facilities, sales centers, administrative offices and warehouses located throughout the world, and we have a global team of approximately 9,000 employees as of June 30, 2022. Basis of Presentation Our Condensed Consolidated Financial Statements include all of the accounts of the Company and our subsidiaries. These Condensed Consolidated Financial Statements reflect our financial position, results of operations, cash flows and changes in stockholders' equity in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). All intercompany accounts and transactions have been eliminated. All amounts are in US Dollar denominated millions, except per share amounts and unless otherwise noted, and are approximate due to rounding. The accompanying unaudited financial statements have been prepared in accordance with U.S. GAAP for interim financial information and with the rules and regulations of the Securities and Exchange Commission ("SEC"). Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete annual financial statements. In the opinion of management, the accompanying unaudited financial statements include all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation. Interim results are not necessarily indicative of the results that may be expected for the full year. The accompanying unaudited interim financial statements should be read in conjunction with the annual audited financial statements of the Company and notes thereto for the year ended December 31, 2021 included in the Company's Annual Report on Form 10-K. Certain amounts within Transaction and integration costs (formerly described as "Transition and transformation costs") in the prior year's Condensed Consolidated Statement of Operations have been reclassified into Restructuring and exit costs to conform to the current year presentation, with no impact on net loss or accumulated deficit.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The preparation of the Condensed Consolidated Financial Statements and related disclosures in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, disclosures of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the periods. These estimates include, among other items, purchase price accounting, assessing the collectability of receivables, the use and recoverability of inventory, the estimation of the fair value of financial instruments, useful lives and recoverability of tangible and intangible assets and impairment of goodwill, assumptions used in our defined benefit pension plans and other post-employment benefit plans, fair value measurement of assets, rebate costs, costs for incentive compensation, the valuation allowance on deferred tax assets and accruals for commitments and contingencies. Management reviews these estimates and assumptions periodically and reflects the effects of any revisions in the Condensed Consolidated Financial Statements in the period management determines any revisions to be necessary. Actual results could differ materially from these estimates. New Accounting Guidance We consider the applicability and impact of all Accounting Standards Updates ("ASUs") issued by the Financial Accounting Standards Board ("FASB"). ASUs not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial statements. Recently Issued Accounting Standards Facilitation of the Effects of rate reform In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The ASU provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference the London Inter-bank Offered Rate ("LIBOR") or another reference rate expected to be discontinued. The Company can elect to apply the amendments in this update as of March 12, 2020 through December 31, 2022, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. The Company continues to evaluate this new standard update and the impact of this guidance on the Condensed Consolidated Financial Statements. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope, which explicitly clarifies which contracts, hedging relationships, and other transactions are within the scope of the optional expedients and exceptions allowed under Topic 848. The Company has not utilized any of the optional expedients or exceptions available under Topic 848. The Company continues to assess whether this ASU is applicable throughout the effective period, in conjunction with our assessment of ASU 2020-4.

REVENUE RECOGNITION

REVENUE RECOGNITION	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION Description of Revenue Generating Activities We provide high-performance cleaning, infection prevention and hygiene products for the food safety and service, food and beverage plant operations, healthcare, floor care, housekeeping and room care, laundry and hand care markets. In addition, we offer a wide range of value-added solutions, including food safety and application training and consulting, as well as auditing of hygiene and water management. Many of our products are sold through distributors who then sell the product to end users. We recognize revenue based on the expected amount of consideration to be received for the provided goods or services, taking into account the expected value of variable consideration. Our variable considerations include, but are not limited to, rebates, prebates, discounts, and returns. The amount of variable consideration is estimated at contract inception by using the most likely amount method depending on the nature of the variable consideration. Such variable consideration is re-evaluated each reporting period, and accruals are booked based on the re-evaluated estimates and variable consideration recognized to date. Charges for rebates and other allowances are recognized as a deduction from revenue on an accrual basis in the period in which the associated revenue is recorded. When we estimate our rebate accruals, we consider customer-specific contractual commitments including stated rebate rates and history of actual rebates paid. Our rebate accruals are reviewed at each reporting period and adjusted to reflect data available at that time. We adjust the accruals to reflect any differences between estimated and actual amounts. These adjustments impact the amount of net sales recognized by us in the corresponding period of adjustment. Charges for rebates and other allowances were 25.7% and 23.8% of gross sales for the three months ended June 30, 2022 and June 30, 2021, respectively, and 25.3% and 24.2% for the six months ended June 30, 2022 and June 30, 2021, respectively. Disaggregated Revenue Revenues from contracts with customers summarized by region were as follows: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Europe $ 322.8 $ 293.0 $ 614.4 $ 525.9 North America 174.9 172.6 344.2 391.8 Asia Pacific 84.0 79.1 167.8 158.2 Middle East and Africa 70.8 55.1 132.3 107.9 Latin America 56.3 46.0 105.1 88.1 Revenue from contracts with customers 708.8 645.8 1,363.8 1,271.9 Other revenue (Leasing: Sales-type and Operating) 6.5 4.3 11.5 9.7 Total revenue $ 715.3 $ 650.1 $ 1,375.3 $ 1,281.6 Assets Recognized For the Costs to Obtain a Contract In certain instances, we incur incremental direct costs of a transaction, such as prebates, equipment provided free on loan, or other related expenses in the contract negotiation phase. Because these costs are likely incurred to transition to a new relationship or part of a negotiated renewal of a long-term relationship, these costs are considered costs to obtain a contract and are deferred and amortized over the period in which revenue is recognized, provided that unamortized deferred costs are considered recoverable. These amounts are recorded within Other non-current assets on our Condensed Consolidated Balance Sheets.

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Jun. 30, 2022
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS We make business acquisitions that align with its strategic business objectives. The assets and liabilities of acquired businesses are recorded in the Condensed Consolidated Balance Sheet at fair value as of their acquisition date. The purchase price allocation is based on estimates of the fair value of assets acquired, liabilities assumed and consideration paid. Purchase consideration is reduced by the amount of cash or cash equivalents acquired. Acquisitions during 2022 were not significant to our condensed consolidated financial statements; therefore, pro forma financial information is not presented. No acquisitions occurred during the six months ended June 30, 2021. Costs incurred related to acquisitions are included as part of Transaction and integration costs in the Condensed Consolidated Statements of Operations. On January 24, 2022, we acquired Shorrock Trichem Ltd, a distributor of cleaning and hygiene solutions and services based in northwest England. In the second quarter of 2022, we recorded purchase accounting adjustments associated with this acquisition, which both decreased acquisition related net assets and increased goodwill by $3.1 million. In the first quarter of 2022, we recorded purchase accounting adjustments associated with our fourth quarter 2021 acquisition of Birko Corporation. As a result, the acquisition related net assets increased by $1.6 million, goodwill decreased by $1.7 million, and we paid $0.1 million in additional consideration related to a net working capital adjustment. The following table summarizes the fair values of the net assets acquired during 2022: (in millions) Six Months Ended June 30, 2022 Cash and cash equivalents $ 10.7 Trade receivables 7.1 Inventories 3.9 Prepaid expenses and other current assets 1.8 Property, plant and equipment 6.3 Intangible assets 15.6 Accounts payable (4.1) Other current liabilities (5.0) Other non-current liabilities (0.1) Deferred taxes (4.6) Net assets acquired before goodwill on acquisition 31.6 Goodwill on acquisition 20.5 Net cash paid for acquisitions $ 52.1

FINANCIAL STATEMENT DETAILS

FINANCIAL STATEMENT DETAILS	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
FINANCIAL STATEMENT DETAILS	FINANCIAL STATEMENT DETAILS Inventories Our net inventory balances were: (in millions) June 30, 2022 December 31, 2021 Raw materials $ 77.1 $ 74.2 Work in process 3.4 2.8 Finished goods 289.2 260.6 $ 369.7 $ 337.6 We recorded a charge of $17.4 million in the second quarter of 2022, representing $14.1 million for excess inventory related to COVID-19, which is included in the table above, and $3.3 million for estimated disposal costs, which is included in Other current liabilities on the Condensed Consolidated Balance Sheets. Factoring of trade receivables On October 25, 2021, we terminated our Master Agreement with Factofrance, S.A. (“Factofrance”) to sell certain trade receivables, without recourse, of eight Diversey companies located in the United Kingdom, Spain, France, Netherlands, Poland, Germany, Italy and Portugal under individually executed Receivable Purchase Agreements (“RPAs”). We accounted for transfers of receivables pursuant to the RPAs as a sale and removed them from our Condensed Consolidated Balance Sheets. We maintained a “beneficial interest,” or a right to collect cash, in the sold receivables in which we do not immediately collect cash. Cash receipts from the beneficial interests on sold receivables (which are cash receipts on the underlying trade receivables that have already been sold in these agreements) are classified as investing activities and presented as cash receipts on sold receivables on our Condensed Consolidated Statements of Cash Flows. We sold $313.3 million of receivables to Factofrance and received cash from Factofrance of $315.6 million during the six months ended June 30, 2021. We collected from our customers and remitted to Factofrance $320.2 million during the six months ended June 30, 2021. Securitization of trade receivables We sell certain North American and European customer receivables to PNC Bank ("PNC") without recourse on a revolving basis. This arrangement provided for maximum funding of up to $150.0 million for receivables sold, which increased from $100.0 million during the second quarter of 2022. As customers pay their balances, we transfer additional receivables into the program. The transferred receivables are fully guaranteed by a bankruptcy-remote wholly owned subsidiary of the Company, which holds additional receivables in the amount of $137.6 million as of June 30, 2022 that are pledged as collateral under this agreement. Fees associated with the arrangement were $2.3 million and $0.8 million for the six months ended June 30, 2022 and June 30, 2021, respectively. We transferred and derecognized $272.8 million of receivables and collected $210.9 million in connection with our arrangement with PNC during the six months ended June 30, 2022. We transferred and derecognized $277.3 million of receivables and collected $289.9 million in connection with our arrangement with PNC during the six months ended June 30, 2021. Credit losses Our allowance for expected credit losses on trade and lease receivables is assessed at the end of each quarter based on an analysis of historical losses and assessment of future expected losses. We continue to monitor the impact that COVID-19 may have on outstanding receivables. The following represents the activity in our allowance for credit losses for trade and lease receivables: Six Months Ended June 30, (in millions) 2022 2021 Balance, beginning of period $ 44.2 $ 35.1 Provision for bad debts 1.8 3.3 Write-offs (6.6) (1.9) Balance, end of period $ 39.4 $ 36.5 Prepaid expenses and other current assets The components of prepaid expenses and other current assets were as follows: (in millions) June 30, 2022 December 31, 2021 Prepaid expenses $ 39.5 $ 36.1 Income tax receivables 28.6 20.2 Derivatives 36.1 11.3 Other current assets 1.5 1.8 $ 105.7 $ 69.4 Other non-current assets The components of other non-current assets were as follows: (in millions) June 30, 2022 December 31, 2021 Dosing and dispensing equipment $ 140.8 $ 142.0 Operating lease right-of-use assets, net 86.9 94.6 Deferred taxes 48.5 51.8 Derivatives 19.5 25.9 Tax indemnification asset 17.4 17.8 Lease receivables 14.7 18.0 Customer prebates 14.0 16.6 Finance lease right-of-use assets, net 10.2 4.3 Other non-current assets 13.0 11.3 $ 365.0 $ 382.3 Depreciation expense for our dosing and dispensing equipment was $17.0 million and $17.4 million for the three months ended June 30, 2022 and June 30, 2021, respectively. Depreciation expense for our dosing and dispensing equipment was $34.3 million and $34.8 million for the six months ended June 30, 2022 and June 30, 2021, respectively. Other Current and Non-current Liabilities The components of other current liabilities were as follows: (in millions) June 30, 2022 December 31, 2021 Accrued customer volume rebates $ 136.1 $ 138.1 Accrued salaries, wages and related costs 85.0 88.7 Value added, general and sales tax payable 27.0 25.3 Operating lease liability 19.4 21.4 Accrued interest payable 16.9 11.0 Derivatives 13.0 8.2 Income taxes payable 6.1 8.4 Accrued share-based compensation 5.8 5.4 Contingent consideration 4.6 4.4 Other accrued liabilities 70.4 73.6 $ 384.3 $ 384.5 The components of other non-current liabilities were as follows: (in millions) June 30, 2022 December 31, 2021 Tax receivable agreement $ 212.0 $ 238.1 Defined benefit pension plan liability 113.4 129.6 Operating lease liability 76.3 72.5 Uncertain tax positions 44.6 44.5 Derivatives 15.4 4.9 Asset retirement obligations 6.2 6.4 Accrued share-based compensation 4.4 6.0 Other post-employment benefit plan liability 2.1 2.1 Other non-current liabilities 13.5 15.9 $ 487.9 $ 520.0 Other (Income) Expense, net The following table provides details of our Other (Income) Expense, net: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Interest income $ (0.7) $ (1.2) $ (1.4) $ (2.1) Unrealized foreign exchange (gain) loss (4.2) 1.7 (5.3) 7.6 Realized foreign exchange (gain) loss (1.5) 0.9 (0.3) 0.6 Non-cash pension and other post-employment benefit plan (3.4) (3.9) (7.0) (7.7) Adjustment for tax indemnification asset 0.5 1.3 0.4 1.3 Factoring and securitization fees 1.3 1.2 2.2 2.2 Tax receivable agreement adjustments (6.6) 4.1 (13.0) 4.1 Other, net (0.4) (0.1) 0.5 (1.9) $ (15.0) $ 4.0 $ (23.9) $ 4.1

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT, NET	PROPERTY AND EQUIPMENT, NET Our property and equipment and accumulated depreciation balances were as follows: (in millions) June 30, 2022 December 31, 2021 Land and improvements $ 40.8 $ 41.3 Buildings 55.8 55.4 Machinery and equipment 104.1 95.4 Other property and equipment 51.1 51.6 Construction-in-progress 75.9 49.4 Property and equipment, gross 327.7 293.1 Less: Accumulated depreciation (98.3) (82.4) Property and equipment, net $ 229.4 $ 210.7

GOODWILL AND IDENTIFIABLE INTAN

GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS	GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS Goodwill The following table represents a roll forward of our goodwill balances by reportable segments: (in millions) Institutional Food & Beverage Total Balance at December 31, 2021 $ 330.4 $ 141.1 $ 471.5 Acquisitions 20.5 — 20.5 Acquisition adjustments (1) — (1.7) (1.7) Foreign currency translation (15.8) (6.5) (22.3) Balance at June 30, 2022 $ 335.1 $ 132.9 $ 468.0 (1) Represents measurement period adjustments related to the acquisition of Birko Corporation. Identifiable Intangible Assets The following table summarizes the gross carrying amounts and accumulated amortization of identifiable intangible assets by major class with definite and indefinite lives at June 30, 2022: (in millions) Gross Carrying Value Accumulated Amortization Accumulated Impairment Net Book Value Customer relationships $ 890.9 $ (194.3) $ — $ 696.6 Brand name 581.7 (139.8) — 441.9 Capitalized software 86.9 (74.7) — 12.2 Intellectual property 44.7 (8.8) — 35.9 Trademarks 25.1 (7.0) — 18.1 Non-compete agreements 8.3 (7.7) — 0.6 Favorable leases 4.2 (3.3) — 0.9 Total intangible assets with definite lives 1,641.8 (435.6) — 1,206.2 Trade name with indefinite life 815.1 — — 815.1 Total identifiable intangible assets $ 2,456.9 $ (435.6) $ — $ 2,021.3 The following table summarizes the gross carrying amounts and accumulated amortization of identifiable intangible assets by major class with definite and indefinite lives at December 31, 2021: (in millions) Gross Carrying Value Accumulated Amortization Accumulated Impairment Net Book Value Customer relationships $ 920.6 $ (181.0) $ — $ 739.6 Brand name 610.4 (131.4) — 479.0 Capitalized software 84.2 (70.1) — 14.1 Intellectual property 44.5 (6.7) — 37.8 Trademarks 27.7 (7.5) — 20.2 Non-compete agreements 8.8 (8.2) — 0.6 Favorable leases 4.4 (3.1) — 1.3 Total intangible assets with definite lives 1,700.6 (408.0) — 1,292.6 Trade name with indefinite life 854.7 — — 854.7 Total identifiable intangible assets $ 2,555.3 $ (408.0) $ — $ 2,147.3

DEBT AND CREDIT FACILITIES

DEBT AND CREDIT FACILITIES	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
DEBT AND CREDIT FACILITIES	DEBT AND CREDIT FACILITIES The components of debt and credit facilities were as follows: (in millions) June 30, 2022 December 31, 2021 Senior Secured Credit Facilities 2021 U.S. Dollar Term Loan $ 1,492.5 $ 1,500.0 Revolving Credit Facility — — 2021 Senior Notes 500.0 500.0 Short-term borrowings 6.5 10.7 Finance lease obligations 10.1 4.4 Financing obligations 22.8 23.1 Unamortized deferred financing costs (32.7) (35.3) Unamortized original issue discount (7.7) (8.3) Total debt 1,991.5 1,994.6 Less: Current portion of long-term debt (11.4) (10.9) Short-term borrowings (6.5) (10.7) Long-term debt $ 1,973.6 $ 1,973.0 Senior Secured Credit Facilities On September 29, 2021, the Company entered into an amendment to its Senior Secured Credit Facilities, which provided for a new $1,500.0 million senior secured U.S. dollar denominated term loan (the “2021 U.S. Dollar Term Loan”) in addition to the existing $450.0 million revolving credit facility (the “Revolving Credit Facility", and together with the 2021 U.S. Dollar Term Loan, the “New Senior Secured Credit Facilities”). The 2021 U.S. Dollar Term Loan matures on September 29, 2028, while the Revolving Credit Facility matures on March 28, 2026. The interest rate under the 2021 U.S. Dollar Term Loan is equal to (i) the Adjusted LIBOR rate (as defined in the New Senior Secured Credit Facilities), with a LIBOR floor of 0.50%, plus 3.00%, or (ii) ABR (as defined in the New Senior Secured Credit Facilities) plus 2.00%; provided that, such percentages per annum shall permanently step-down to 2.75% and 1.75%, respectively, if on the later of (x) the date of delivery of a compliance certificate to the administrative agent for the fiscal quarter ending December 31, 2021 and (y) the first date of delivery of a compliance certificate to the administrative agent, in either case, demonstrating that the Total Net Leverage Ratio (as defined in the New Senior Secured Credit Facilities) as of the last day of a fiscal quarter is less than or equal to 4.50 to 1.00. As of December 31, 2021, our Total Net Leverage Ratio was less than 4.50 to 1.00, and the interest rate step-downs noted above were effective during the first quarter of 2022. As of June 30, 2022, the interest rate for the 2021 U.S. Dollar Term Loan is 3.99%. As of June 30, 2022 , the Company had no borrowings outstanding under the Revolving Credit Facility and $7.6 million of letters of credit outstanding, which reduced the available borrowing capacity thereunder to approximately $442.4 million. As of December 31, 2021 , the Company had no borrowings outstanding under the Revolving Credit Facility and $7.9 million of letters of credit outstanding, which reduced the available borrowing capacity thereunder to approximately $442.1 million. The New Senior Secured Credit Facilities contain normal and customary affirmative and negative covenants. Some of the more restrictive covenants are (a) limitations on our ability to pay dividends, (b) limitations on asset sales, and (c) limitations on our ability to incur additional indebtedness. The New Senior Secured Credit Facilities also contain various events of default, the occurrence of which could result in the acceleration of all obligations. As of June 30, 2022, we were in full compliance with the provisions contained within the covenants. 2021 Senior Notes On September 29, 2021, the Company completed the sale of $500.0 million in aggregate principal amount of Senior Notes due 2029 (the “2021 Senior Notes”) in a private placement to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to non-U.S. persons (as defined in Regulation S) pursuant to Regulation S under the Securities Act. The Company used the net proceeds from the issuance of the 2021 Senior Notes, together with borrowings under its New Senior Secured Credit Facilities and cash on hand, to redeem all of the €450.0 million aggregate principal amount of 5.625% Senior Notes due 2025 (the “2017 Senior Notes”), pay fees and/or expenses incurred in connection with the issuance of the 2021 Senior Notes and for general corporate purposes. The 2021 Senior Notes mature on October 1, 2029, bear interest at 4.625%, and interest is payable semi-annually on April 1 and October 1 of each year, beginning on April 1, 2022. The Company may redeem the 2021 Senior Notes, in whole or in part, at any time prior to October 1, 2024, at a price equal to 100% of the principal amount of the 2021 Senior Notes redeemed, plus additional amounts, if any, a make-whole premium and accrued and unpaid interest to, but excluding, the redemption date. The Company may redeem the 2021 Senior Notes, in whole or in part, on or after October 1, 2024, at the redemption prices (expressed as percentages of principal amount) set forth in the indenture governing the 2021 Senior Notes, together with accrued and unpaid interest and additional amounts, if any, to, but excluding, the applicable redemption date: Year Percentage October 1, 2024 to September 30, 2025 102.313% October 1, 2025 to September 30, 2026 101.156% On or after October 1, 2026 100.000% Additionally, at any time on or before October 1, 2024, the Company may elect to redeem up to 40% of the aggregate principal amount of the 2021 Senior Notes at a redemption price equal to 104.625% of the principal amount thereof, plus accrued and unpaid interest and additional amounts, if any, to, but excluding, the redemption date, with the net cash proceeds received from one or more equity offerings of the Company. The indenture governing the 2021 Senior Notes contains covenants that limit the Company's ability to, among other things: (i) incur additional indebtedness, issue preferred equity and guarantee indebtedness; (ii) pay dividends or make other distributions in respect of, or repurchase or redeem, capital stock; (iii) prepay, redeem or repurchase certain material debt; (iv) make loans and investments; (v) sell or otherwise dispose of assets; (vi) sell stock of the Company’s subsidiaries; (vii) incur liens; (viii) enter into transactions with affiliates; (ix) enter into agreements restricting the Company’s subsidiaries’ ability to pay dividends and (x) consolidate, merge or sell all or substantially all of the Company’s assets. The 2021 Senior Notes are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by a subsidiary of the Company, BCPE Diamond Netherlands TopCo B.V., a private limited liability company (besloten vennootschap met beperkte aansprakelijkheid) incorporated under the laws of the Netherlands, and the Company's existing and subsequently acquired or organized direct and indirect material wholly owned restricted subsidiaries that guarantee indebtedness under the New Senior Secured Credit Facilities (other than those organized in Italy). Short-term Borrowings Our short-term borrowings comprise primarily of bank overdrafts within our notional cash pooling system. Sale-Leaseback Transactions During March 2020, the Company completed sale-leaseback transactions under which it sold two properties to an unrelated third-party for a total of $22.9 million. Concurrent with this sale, the Company entered into agreements to lease the properties back from the purchaser over initial lease terms of 15 years. The leases for the two properties include an initial term of 15 years and four, five-year renewal options and provides for the Company to evaluate each property individually upon certain events during the life of the lease, including individual renewal options.

DERIVATIVES AND HEDGING ACTIVIT

DERIVATIVES AND HEDGING ACTIVITIES	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES AND HEDGING ACTIVITIES	DERIVATIVES AND HEDGING ACTIVITIES As a large global organization, we face exposure to market risks, such as fluctuations in foreign currency exchange rates and interest rates. To manage the volatility relating to these exposures, we enter into various derivative instruments from time to time under our risk management policies. We designate derivative instruments as hedges on a transactional basis to support hedge accounting. The changes in fair value of these hedging instruments offset in part or in whole corresponding changes in the fair value or cash flows of the underlying exposures being hedged. We assess the initial and ongoing effectiveness of our hedging relationships in accordance with our policy. We do not purchase, hold or sell derivative financial instruments for trading purposes. Our practice is to terminate derivative transactions if the underlying asset or liability matures or is sold or terminated, or if we determine the underlying forecasted transaction is no longer probable of occurring. Derivative Positions Summary The following table details the fair value of our derivative instruments, which are included as a part of our Other non-current assets, Other current liabilities and Other non-current liabilities in our Condensed Consolidated Balance Sheets. (in millions) June 30, 2022 December 31, 2021 Derivatives designated as hedging instruments: Derivative assets Foreign currency forward contracts $ 0.2 $ 0.6 Interest rate caps 23.1 2.9 Cross currency swaps 15.6 32.6 Total derivative assets $ 38.9 $ 36.1 Derivative liabilities Interest rate caps $ — $ (0.7) Cross currency swaps (5.8) — Total derivative liabilities $ (5.8) $ (0.7) Derivatives not designated as hedging instruments: Derivative assets Foreign currency forward contracts $ 3.7 $ 1.1 Interest rate swaps 13.0 — Total derivative assets $ 16.7 $ 1.1 Derivative liabilities Foreign currency forward contracts $ (1.9) $ (1.1) Interest rate swaps (20.7) (11.3) Total derivative liabilities $ (22.6) $ (12.4) Our derivatives consist of the following: Derivative Instrument Hedged Item Notional Amount (in millions) Original Maturity in Months U.S. dollar floating to Euro fixed interest rate swap 2021 U.S. Dollar Term Loan $ 500.0 52 U.S. dollar interest rate caps 2021 U.S. Dollar Term Loan $ 650.0 36 U.S. dollar to Euro currency swaps 2021 Senior Notes $ 500.0 52 U.S. dollar currency forward contracts Working Capital $ 333.9 1-12 Floating to fixed interest rate swap (1) (2) Not Applicable $ 720.0 60 Fixed to floating interest rate swap (1) (2) Not Applicable $ 720.0 36 (1) The notional amount is reduced to $315.0 million in July 2023. (2) In connection with our debt refinancing in 2021, we entered into a fixed to floating interest rate swap to offset the existing floating to fixed interest rate swap. Interest Rate Cap and Cross Currency Contracts Designated as Cash Flow or Fair Value Hedges In connection with entering into the New Senior Secured Credit Facilities and issuing the 2021 Senior Notes, we also entered into a U.S. dollar floating to Euro fixed interest rate swap, a U.S. dollar interest rate cap, and a U.S. dollar to Euro currency swap, to manage the impacts of fluctuations in interest rates and currency exchange rates on a portion of the Company’s floating-rate and U.S. dollar denominated debt. On March 31, 2022, we terminated our existing $500.0 million U.S. dollar floating to Euro fixed interest rate swap that was a hedge on the 2021 U.S. Dollar Term Loan, receiving net proceeds of $45.3 million, and simultaneously entered into a new at-market U.S. dollar floating to Euro fixed interest rate swap with the same maturity date as the terminated swap. We elected to classify the cash flows from the settlement within financing activities on the Condensed Consolidated Statement of Cash Flows to be consistent with the hedged debt instrument. As a result of this contract termination, the net unrealized after-tax derivative gain included in accumulated other comprehensive income ("AOCI") at the date of termination is being amortized against Interest expense on the Condensed Consolidated Statement of Operations over the remaining life of the derivative contract, and the unamortized gain in AOCI is $16.8 million as of June 30, 2022. On May 18, 2022, we terminated our existing $500.0 million U.S. dollar floating to Euro fixed interest rate swap that was a hedge on the 2021 U.S. Dollar Term Loan, receiving proceeds of $31.9 million, and simultaneously entered into a new at-market U.S. dollar floating to Euro fixed interest rate swap with the same maturity date as the terminated swap. We elected to classify the cash flows from the settlement within financing activities on the Condensed Consolidated Statement of Cash Flows to be consistent with the hedged debt instrument. As a result of this contract termination, the net unrealized after-tax derivative gain included in AOCI at the date of termination is being amortized against Interest expense on the Condensed Consolidated Statement of Operations over the remaining life of the derivative contract, and the unamortized gain in AOCI is $4.1 million as of June 30, 2022. On May 23, 2022, we terminated our existing $500.0 million U.S. dollar to Euro currency swap that was a hedge on the 2021 Senior Notes, receiving net proceeds of $35.0 million, and simultaneously entered into a new at-market $500.0 million U.S. dollar to Euro currency swap with the same maturity date as the terminated swap. We elected to classify the cash flows from the settlement within financing activities on the Condensed Consolidated Statement of Cash Flows to be consistent with the hedged debt instrument. As a result of this contract termination, the net unrealized after-tax derivative loss included in AOCI at the date of termination is being amortized as Other (income) expense, net on the Condensed Consolidated Statement of Operations over the remaining life of the derivative contract, and the unamortized loss in AOCI is $(7.5) million as of June 30, 2022. We record gains and losses on these derivative instruments that qualify as cash flow or fair value hedges in other comprehensive income (loss), net of tax to the extent the hedges are effective and until we recognize the underlying transactions in net income (loss), at which time we recognize these gains and losses in Other (income) expense, net on our Condensed Consolidated Statements of Operations. Net unrealized after-tax gain related to these contracts that were included in other comprehensive income was $57.6 million and $10.7 million for the six months ended June 30, 2022 and June 30, 2021, respectively. The unrealized amounts in other comprehensive income will fluctuate based on changes in the fair value of open contracts during each reporting period. We estimate that $20.1 million of net unrealized after-tax derivative gain included in AOCI will be reclassified into Other (income) expense, net, on the Condensed Consolidated Statement of Operations within the next twelve months. Interest Rate Swap Contracts Not Designated as Hedges In connection with entering into the New Senior Secured Credit Facilities and issuing the 2021 Senior Notes, we entered into a fixed to floating interest rate swap to offset the existing floating to fixed interest rate swap, and the existing swap was also then de-designated as a cash flow hedge. As a result of the contract de-designation, the net unrealized after-tax derivative loss included in AOCI at the date of de-designation is being amortized as Interest expense on the Condensed Consolidated Statement of Operations over the remaining life of the derivative contract, and the unamortized loss in AOCI is $7.9 million as of June 30, 2022. Although the contracts are effective economic hedges, they are not designated as accounting hedges. Therefore, changes in the value of these derivatives are recognized immediately in earnings. Foreign Currency Forward Contracts The primary purpose of our currency hedging activities is to manage the potential changes in value associated with the amounts receivable or payable on equipment and raw material purchases that are denominated in foreign currencies in order to minimize the impact of changes in foreign currencies. For those contracts that are designated as cash flow hedges, we record gains and losses on other comprehensive income (loss), net of tax to the extent the hedges are effective and until we recognize the underlying transactions in net income (loss), at which time we recognize these gains and losses in Other (income) expense, net on our Condensed Consolidated Statements of Operations. For those contracts that are not designated as cash flow hedges, the changes in the value of these derivatives are recognized immediately in earnings. These contracts generally have original maturities of less than 12 months. Effect of all Derivative Instruments on Income The following table details the (income) expense related to our derivative instruments on our Condensed Consolidated Statements of Operations, for which the amounts are included in Other (income) expense: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Foreign currency forward contracts $ (2.2) $ — $ (3.3) $ — Interest rate swaps (0.3) 2.3 (0.5) 4.5 Interest rate caps (0.1) — (0.2) — Cross currency swaps (38.5) — (70.8) — Total $ (41.1) $ 2.3 $ (74.8) $ 4.5

FAIR VALUE MEASUREMENTS AND OTH

FAIR VALUE MEASUREMENTS AND OTHER FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS AND OTHER FINANCIAL INSTRUMENTS	FAIR VALUE MEASUREMENTS AND OTHER FINANCIAL INSTRUMENTS Fair Value Measurements In determining the fair value of financial instruments, we utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible and consider counterparty credit risk in our assessment of fair value. We determine the fair value of our financial instruments based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels: • Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date. • Level 2 Inputs: Other than quoted prices included in Level 1 Inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. • Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date. The following table details the fair value hierarchy of our financial assets and liabilities, which are measured at fair value on a recurring basis: June 30, 2022 (in millions) Total Fair Value Level 1 Level 2 Level 3 Cash equivalents $ 144.5 $ 144.5 $ — $ — Restricted cash and compensating balance deposits $ 0.6 $ 0.6 $ — $ — Cross currency swap, net asset $ 9.8 $ — $ 9.8 $ — Interest rate caps, net asset $ 23.1 $ — $ 23.1 $ — Foreign currency forward contracts, net liability $ 2.0 $ — $ 2.0 $ — Interest rate swaps, net liability $ (7.7) $ — $ (7.7) $ — Contingent consideration $ (4.6) $ — $ — $ (4.6) December 31, 2021 Total Fair Value Level 1 Level 2 Level 3 Cash equivalents $ 111.6 $ 111.6 $ — $ — Restricted cash and compensating balance deposits $ 0.6 $ 0.6 $ — $ — Cross currency swap, net asset $ 32.6 $ — $ 32.6 $ — Interest rate caps, net asset $ 2.2 $ — $ 2.2 $ — Foreign currency forward contracts, net asset $ 0.6 $ — $ 0.6 $ — Interest rate swaps, net liability $ (11.3) $ — $ (11.3) $ — Contingent consideration $ (4.6) $ — $ — $ (4.6) Cash Equivalents Our cash equivalents consist of bank time deposits (Level 1) and money market funds (Level 1). Since these are short-term highly liquid investments with original maturities of three months or less at the date of purchase, they present negligible risk of changes in fair value due to changes in interest rates. Derivative Financial Instruments Our derivatives are recorded at fair value on our Condensed Consolidated Balance Sheets, which incorporates observable market inputs. These market inputs include foreign currency spot and forward rates and LIBOR. These inputs are obtained from pricing data quoted by various banks, third party sources and foreign currency dealers involving identical or comparable instruments (Level 2). Counterparties to these derivative instruments are investment grade rated by Standard & Poor’s and Moody’s. Credit ratings on some of our counterparties may change during the term of our financial instruments. We closely monitor our counterparties’ credit ratings and, if necessary, will make any appropriate changes to our financial instruments. The fair value generally reflects the estimated amounts that we would receive or pay to terminate the contracts at the reporting date. Contingent Consideration We recorded contingent consideration related to earn-out provisions from our previous acquisitions. The fair values of such contingent consideration were derived using a discounted cash flow model based on the projection of performance metrics, which are generally based upon achieving certain revenue targets as outlined in the various provisions within the purchase agreements and the probability of achieving the targets. We remeasure amounts related to contingent consideration liabilities related to acquisitions that were carried at fair value on a recurring basis in the Condensed Consolidated Financial Statements for which a fair value measurement was required. We recorded $4.6 million in contingent consideration liability as of both June 30, 2022 and December 31, 2021 for various acquisitions that occurred prior to 2017. Other Financial Instruments The following financial instruments are recorded at fair value or at amounts that approximate fair value: (1) trade receivables, net, (2) certain other current assets, (3) accounts payable and (4) other current liabilities. The carrying amounts reported on our Condensed Consolidated Balance Sheets for the above financial instruments closely approximate their fair value due to the short-term nature of these assets and liabilities. Other liabilities that are recorded at carrying value on our Condensed Consolidated Balance Sheets include our debt. We utilize a market approach to calculate the fair value of our 2021 Senior Notes. Due to the limited investor base and the face value of our 2021 Senior Notes, they may not be actively traded on the date we calculate their fair value. Therefore, we may utilize prices and other relevant information generated by market transactions involving similar securities, reflecting U.S. Treasury yields, to calculate the yield to maturity and the price on some of our 2021 Senior Notes. These inputs are provided by an independent third party and are considered to be Level 2 inputs. We derive our fair value estimates of our various other debt instruments by evaluating the nature and terms of each instrument, considering prevailing economic and market conditions, and examining the cost of similar debt offered at the balance sheet date. We also incorporated our credit default swap rates and currency specific swap rates in the valuation of each debt instrument, as applicable. These inputs are provided by an independent third party and are considered to be Level 2 inputs. These estimates are subjective and involve uncertainties and matters of significant judgment, and therefore we cannot determine them with precision. Changes in assumptions could significantly affect our estimates. The table below shows the carrying amounts and estimated fair values of our debt, all of which are based on Level 2 inputs: June 30, 2022 December 31, 2021 (in millions) Carrying Amount Fair Value Carrying Amount Fair Value 2021 U.S. Dollar Term Loan (1) $ 1,458.6 $ 1,203.0 $ 1,463.4 $ 1,464.9 2021 Senior Notes (2) 493.5 462.0 493.0 497.5 Revolving Credit Facility — — — — $ 1,952.1 $ 1,665.0 $ 1,956.4 $ 1,962.4 (1) Carrying amounts are net of deferred financing costs and original issue discount. (2) Carrying amount is net of deferred financing costs. Certain assets are measured at fair value on a non-recurring basis. These assets are not measured at fair value on an ongoing basis, but are subject to fair value adjustments only in certain circumstances, such as acquisitions. Credit and Market Risk Financial instruments, including derivatives, expose us to counterparty credit risk for nonperformance and to market risk related to changes in interest or currency exchange rates. We manage our exposure to counterparty credit risk through specific minimum credit standards, establishing credit limits, diversification of counterparties, and procedures to monitor concentrations of credit risk. It is our policy to have counterparties to these contracts that are rated at least BBB- or higher by Standard & Poor’s and Baa3 or higher by Moody’s. Nevertheless, there is a risk that our exposure to losses arising out of derivative contracts could be material if the counterparties to these agreements fail to perform their obligations. We will replace counterparties if a credit downgrade is deemed to increase our risk to unacceptable levels. We regularly monitor the impact of market risk on the fair value and cash flows of our derivative and other financial instruments considering reasonably possible changes in interest and currency exchange rates and restrict the use of derivative financial instruments to hedging activities. We do not use derivative financial instruments for trading or other speculative purposes and do not use leveraged derivative financial instruments.

DEFINED BENEFIT PENSION PLANS A

DEFINED BENEFIT PENSION PLANS AND OTHER POST-EMPLOYMENT BENEFIT PLANS	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
DEFINED BENEFIT PENSION PLANS AND OTHER POST-EMPLOYMENT BENEFIT PLANS	DEFINED BENEFIT PENSION PLANS AND OTHER POST-EMPLOYMENT BENEFIT PLANS The following table shows the components of our net period benefit income; Three Months Ended June 30, Six Months Ended June 30, Line Item on Condensed Consolidated Statements of Operations (in millions) 2022 2021 2022 2021 Components of net periodic benefit income: Service cost $ 1.5 $ 1.6 $ 2.8 $ 3.3 Selling, general and administrative expenses Interest cost 1.0 0.7 1.9 1.4 Other income Expected return on plan assets (4.4) (4.7) (8.9) (9.2) Other income Total benefit income $ (1.9) $ (2.4) $ (4.2) $ (4.5) Our net periodic benefit costs for our other post-employment benefit plans was not material for the three and six months ended June 30, 2022 and June 30, 2021.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES We account for income taxes in interim periods in accordance with ASC 740, which generally requires income tax expense or benefit to be calculated using an estimated annual effective tax rate applied to the year-to-date ordinary income or loss. Tax effects of significant unusual or infrequently occurring items are excluded from the estimated annual effective tax rate calculation and recognized in the interim period in which they occur. For the three and six months ended June 30, 2022, we utilized the discrete effective tax rate method, as allowed by ASC 740-270-30-18, “Income Taxes—Interim Reporting,” to calculate our interim income tax provision. The discrete method is applied when the application of the estimated annual effective tax rate is impractical because it is not possible to reliably estimate the annual effective tax rate. The discrete method treats the year to date period as if it was the annual period and determines the income tax expense or benefit on that basis. We believe that, at this time, the use of this discrete method represents the best estimate of our annual effective tax rate. Effective Income Tax Rate and Income Tax Provision For the three months ended June 30, 2022, the difference in the statutory income tax benefit of $(6.4) million and the recorded income tax provision of $0.5 million was primarily attributable to an increase in the valuation allowance of $7.9 million related to limitations on the deductibility of interest expense. For the three months ended June 30, 2021, the difference in the statutory income tax benefit of $(2.1) million and the recorded income tax benefit of $(9.8) million was primarily attributable to a net $(4.8) million of income tax benefit related to revaluation of our deferred taxes in the Netherlands and United Kingdom due to tax law changes. For the six months ended June 30, 2022, the difference in the statutory income tax benefit of $(13.5) million and the recorded income tax provision of $2.4 million was primarily attributable to an increase in the valuation allowance of $15.5 million related to limitations on the deductibility of interest expense. For the six months ended June 30, 2021, the difference in the statutory income tax benefit of $(20.7) million and the recorded income tax benefit of $(12.2) million was primarily attributable to $7.2 million of income tax expense related to non-deductible share-based compensation, $3.3 million of income tax expense related to the termination of our management agreement with Bain Capital, an increase in the valuation allowance of $2.9 million related to limitations on the deductibility of interest expense, and a net $(4.8) million of income tax benefit related to a revaluation of our deferred taxes in the Netherlands and United Kingdom due to tax law changes. Tax Receivable Agreement As part of the Reorganization Transactions, the Company entered into a tax receivable agreement (the “TRA”) with the pre-IPO owners of Constellation and certain other members of management (the “TRA Recipients”). The TRA requires the Company to make payments to the TRA Recipients as part of the consideration for their shares in Constellation or as part consideration for the note receivable held by them, as applicable, for 85% of the tax benefits realized by the Company when utilizing certain U.S. and Dutch income tax attributes generated, or owned by, or attributable to, the Company on or prior to the date of the IPO, and any tax deductions available to the Company that relate to the transaction expenses incurred by the Company as a result of the consummation of the IPO. The Company expects to utilize a significant portion of these income tax attributes based on current projections of taxable income, and therefore, expects to realize tax benefits. The annual tax benefits are computed by calculating the income taxes due, including such tax benefits, and the income taxes due without such tax benefits. Under the TRA, generally, the Company will retain the benefit of the remaining 15% of the applicable tax savings. The Company's liability under the TRA on an undiscounted basis was $213.3 million and $238.1 million as of June 30, 2022 and December 31, 2021, respectively, of which $1.3 million and zero is presented within Other current liabilities, and $212.0 million and $238.1 million is presented within Other non-current liabilities on the Condensed Consolidated Balance Sheet, as of June 30, 2022 and December 31, 2021, respectively. The timing and amount of aggregate payments due under the TRA may vary based on a number of factors, including the amount and timing of the taxable income the Company and its subsidiaries generate each year, the tax rate then applicable and the use of net operating losses. The payment obligations under the TRA are the Company’s obligations and are not obligations of Constellation. Payments are generally due within a specified period of time following the filing of the Company’s annual tax return and interest on such payments will accrue from the original due date (without extensions) of the income tax return until the date paid. Payments not made within the required period after the filing of the income tax return generally accrue interest at a rate of LIBOR plus 3.00% (subject to a 50 basis point LIBOR floor and subject to change if LIBOR is no longer a widely recognized benchmark rate). The TRA will remain in effect until all such tax benefits have been utilized or expired, unless the Company exercises its right to terminate the TRA. The TRA will also terminate if the Company breaches its obligations under the TRA or upon certain mergers, asset sales, certain forms of business combinations, or other changes of control. If the Company exercises its right to terminate the TRA, or if the TRA is terminated early in accordance with its terms, the Company’s payment obligations would be accelerated based upon certain assumptions, including the assumption that the Company would have sufficient future taxable income to utilize such tax benefits.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES At times, we are subject to governmental investigations and various legal actions and claims from governmental agencies and other parties. The outcomes of these matters are not within our complete control and may not be known for prolonged periods of time. We record a liability in the Condensed Consolidated Financial Statements for loss contingencies when a loss is known or considered probable and the amount can be reasonably estimated. If the reasonable estimate of a known or probable loss is a range, and no amount within the range is a better estimate than any other, the minimum amount of the range is accrued. When determining the estimated loss or range of loss, significant judgment is required to estimate the amount and timing of a loss to be recorded. Estimates of probable losses resulting from these matters are inherently difficult to predict. Management believes that the ultimate disposition of these matters should not have a material adverse effect on the Company’s consolidated financial position or results of operations or cash flows. Environmental Matters We are subject to loss contingencies resulting from environmental laws and regulations, and we accrue for anticipated costs associated with investigatory and remediation efforts when an assessment has indicated that a loss is probable and can be reasonably estimated. These accruals are not reduced by potential insurance recoveries, if any. We do not believe that it is reasonably possible that our liability in excess of the amounts that we have accrued for environmental matters will be material to our consolidated financial condition or results of operations. Environmental liabilities are reassessed whenever circumstances become better defined or remediation efforts and their costs can be better estimated. We evaluate these liabilities periodically based on available information, including the progress of remedial investigations at each site, the current status of discussions with regulatory authorities regarding the methods and extent of remediation and the apportionment of costs among potentially responsible parties. As some of these issues are decided (the outcomes of which are subject to uncertainties) or new sites are assessed and costs can be reasonably estimated, we adjust the recorded accruals, as necessary. We believe that these exposures are not material to our consolidated financial condition or results of operations. We believe that we have adequately reserved for all probable and estimable environmental exposures. Guarantees and Indemnification Obligations We are a party to many contracts containing guarantees and indemnification obligations. These contracts primarily consist of: • Product and service warranties with respect to certain products sold to customers in the ordinary course of business. These warranties typically provide that products will conform to specifications. We generally do not establish a liability for product warranty based on a percentage of sales or other formulas. We accrue a warranty liability on a transaction-specific basis depending on the individual facts and circumstances related to each sale. Both the liability and annual expense related to product warranties are immaterial to our consolidated financial position and results of operations; and

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Bain Capital On September 6, 2017, in conjunction with the Diversey Acquisition, we entered into a management agreement with Bain Capital, our previous sponsor. Pursuant to the management agreement, we paid Bain Capital a fee for advisory, consulting and other services (the "Management Fee"), which was $7.5 million annually plus Bain Capital’s reasonable out-of-pocket expenses. Upon closing of the IPO, the management agreement terminated pursuant to its terms, and we paid Bain Capital a lump sum amount of $17.5 million. During the six months ended June 30, 2022 and June 30, 2021, we recorded zero and $19.4 million of Management Fee and termination fee expenses, respectively. In addition to the Management Fee and prior to the termination of the management agreement, we paid consulting fees to Bain Capital for services related to future transactions or in consideration of any additional services. For the six months ended June 30, 2022, we did not pay Bain Capital any consulting fees. For the six months ended June 30, 2021, we paid Bain Capital $2.7 million of consulting fees. There were no fees due to Bain Capital at June 30, 2022 or December 31, 2021. We may conduct business with other Bain Capital affiliates from time to time in the normal course of business. Although we may have common owners with these affiliates depending upon the Bain Capital fund ownership

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION Compensation Expense Share-based compensation expense related to equity and liability awards is included in the following line items in the Condensed Consolidated Statements of Operations: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Cost of sales $ 0.1 $ 1.3 $ (0.3) $ 6.0 Selling, general and administrative expenses 17.6 18.5 33.1 77.3 Total $ 17.7 $ 19.8 $ 32.8 $ 83.3 Share-based compensation expense by type of award is as follows: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Management equity incentive plan (1) $ — $ — $ — $ 37.5 Restricted shares (1) 11.6 11.2 23.0 11.2 Restricted share units 3.9 4.5 6.6 4.5 Performance share units 0.9 — 1.8 — Share options 0.3 — 0.5 — Cash-settled long-term incentive plan 0.8 2.5 1.3 28.5 Cash-settled restricted share units 0.2 1.6 (0.4) 1.6 $ 17.7 $ 19.8 $ 32.8 $ 83.3 (1) During 2018, Constellation S.à r.l, a subsidiary of the Company, adopted a management equity incentive plan ("MEIP"), consisting of Class B through Class F shares ("MEIP Shares") granted to certain domestic and foreign employees. Prior to the IPO, the value of the MEIP Shares was classified as a liability, and was remeasured at each reporting period. Upon closing of the IPO and following the Reorganization Transactions, the MEIP Shares were converted into (i) vested ordinary shares which correspond to the value of MEIP Shares that were vested as of the consummation of the IPO and (ii) restricted ordinary shares which correspond to the value of MEIP Shares that were unvested as of the consummation of the IPO. The restricted ordinary shares will vest on the same terms and conditions as applied to the MEIP Shares to which they relate, and are not subject to performance conditions. The table below summarizes the number of shares granted and the weighted-average grant-date fair value per unit during the six months ended June 30, 2022: Number of Awards Weighted Average Grant Date Fair Value Restricted share units 971,836 $ 10.31 Performance share units 903,991 $ 11.38 Share options 491,555 $ 10.71 2,367,382

RESTRUCTURING AND EXIT ACTIVITI

RESTRUCTURING AND EXIT ACTIVITIES	6 Months Ended
	Jun. 30, 2022
Restructuring and Related Activities [Abstract]
RESTRUCTURING AND EXIT ACTIVITIES	RESTRUCTURING AND EXIT ACTIVITIES In 2021, we began a strategic initiative to consolidate certain production and office facilities within Europe and North America, which also includes opening a new manufacturing and distribution facility in North America. We anticipate that these actions will both expand our production capacity and allow us to better manage our inventory, supply chain and workforce. We expect to incur approximately $58.0 million of total expenses related to this project, and charged $33.0 million and $25.4 million to Restructuring and exit costs over the life of the project and during the six months ended June 30, 2022, respectively. Our remaining costs for this project are approximately $25.0 million at June 30, 2022. We also exited certain businesses in 2021 that leased equipment to customers under sales-type leases, as we further refine our business model and our strategy of selling solutions to customers. The following table details our restructuring and exit costs as reflected in the Condensed Consolidated Statements of Operations: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Provision for lease receivables $ (0.3) $ — $ (1.8) $ — Facilities 17.1 — 25.4 — Employee termination benefits 1.4 2.1 3.2 2.6 Other 0.2 3.3 1.4 5.4 Total $ 18.4 $ 5.4 $ 28.2 $ 8.0 The following table provides the details for the restructuring and exit cost liabilities: (in millions) Provision for Lease Receivables Facilities Employee Termination Benefits and Other Total Balance as of December 31, 2021 $ 15.7 $ 0.6 $ 16.7 $ 33.0 Accrual and accrual adjustments (1.8) 25.4 4.6 28.2 Cash payments during period — (26.0) (5.9) (31.9) Balance as of June 30, 2022 $ 13.9 $ — $ 15.4 $ 29.3 The reserve for the lease receivable contracts, net, is included in Other receivables and the liability for employee termination benefits is included in Accrued restructuring costs, respectively, on the Condensed Consolidated Balance Sheet at June 30, 2022. We anticipate paying the employee termination benefits of $15.4 million in the restructuring accrual within the next twelve months. Restructuring and exit costs by segment were as follows: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Institutional $ 18.5 $ 6.7 $ 28.1 $ 6.7 Food & Beverage — 0.1 0.4 0.9 Corporate (0.1) (1.4) (0.3) 0.4 Total $ 18.4 $ 5.4 $ 28.2 $ 8.0

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS The following table provides detail of comprehensive loss: (in millions) Unrecognized Pension Items Hedging Activities Cumulative Translation Adjustment Accumulated Other Balance December 31, 2021 $ (6.6) $ (2.7) $ (147.7) $ (157.0) Other comprehensive income before reclassifications (0.8) (5.3) (45.3) (51.4) Amounts reclassified from AOCI to net income — 37.5 — 37.5 Net change (0.8) 32.2 (45.3) (13.9) Balance June 30, 2022 $ (7.4) $ 29.5 $ (193.0) $ (170.9) (in millions) Unrecognized Pension Items Hedging Activities Cumulative Translation Adjustment Accumulated Other Balance December 31, 2020 $ (42.6) $ (16.0) $ (154.1) $ (212.7) Other comprehensive loss before reclassifications — 9.6 54.3 63.9 Amounts reclassified from AOCI to net income — (4.5) — (4.5) Net change — 5.1 54.3 59.4 Balance June 30, 2021 $ (42.6) $ (10.9) $ (99.8) $ (153.3)

SEGMENTS

SEGMENTS	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
SEGMENTS	SEGMENTS Our operating segments, which are consistent with our reportable segments, reflect the structure of our internal organization, the method by which our resources are allocated and the manner by which the chief operating decision maker assesses our performance. Our reportable segment structure includes two segments, Institutional and Food & Beverage. Our segments are described as follows: • Institutional - Our Institutional products and services are designed to enhance cleanliness, safety, environmental sustainability, and efficiency for our customers. We offer a broad range of products, solutions, equipment and machines including infection prevention and personal care, floor and building care chemicals, kitchen and mechanical warewash chemicals and machines, dosing and dispensing equipment, and floor care machines. We deliver these solutions to customers in the healthcare, education, food service, retail and grocery, hospitality, and building service contractors industries. • Food & Beverage - Our Food & Beverage products and services are designed to maximize the hygiene, safety, and efficiency of our customers’ production and cleaning processes while minimizing their impact on the natural resources they consume. We offer a broad range of products, solutions, equipment and machines including chemical products, engineering and equipment solutions, knowledge-based services, training through our Diversey Hygiene Academy, and water treatment. We deliver these solutions to enhance food safety, operational excellence, and sustainability for customers in the brewing, beverage, dairy, processed foods, pharmaceutical, and agriculture industries. No operating segments were aggregated to form our reportable segments. The reportable segments are the segments of the Company for which separate financial information is available and for which segment results are evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. We evaluate performance of the reportable segments based on the results of each segment. The performance metric used by our chief operating decision maker to evaluate performance of our reportable segments is Adjusted EBITDA. Certain amounts within segment Adjusted EBITDA for prior periods have been reclassified to conform with the current presentation, with no impact on consolidated Adjusted EBITDA. As described in Note 1 - The Company and Basis of Presentation , our net sales are comprised of commercial cleaning, sanitation and hygiene products and solutions for food safety and service, food and beverage plant operations, floor care, housekeeping and room care, laundry and hand care. Net sales for each of the Company’s reportable segments is as follows: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Institutional $ 509.6 $ 476.4 $ 981.8 $ 944.3 Food & Beverage 205.7 173.7 393.5 337.3 Total $ 715.3 $ 650.1 $ 1,375.3 $ 1,281.6 Adjusted EBITDA for each of the Company’s reportable segments is as follows: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Institutional $ 74.5 $ 78.1 $ 127.5 $ 149.2 Food & Beverage 23.5 35.1 45.6 67.0 Total $ 98.0 $ 113.2 $ 173.1 $ 216.2 The following table shows a reconciliation of Adjusted EBITDA for the Company's reportable segments to consolidated loss before income tax provision (benefit): Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Adjusted EBITDA for reportable segments $ 98.0 $ 113.2 $ 173.1 $ 216.2 Corporate costs (9.6) (11.9) (24.4) (22.2) Interest expense (27.0) (27.9) (57.3) (71.6) Interest income 0.7 1.2 1.4 2.1 Amortization expense of intangible assets (22.8) (24.1) (47.0) (48.4) Depreciation expense included in cost of sales (20.9) (20.8) (41.5) (41.6) Depreciation expense included in selling, general and administrative expenses (2.8) (2.0) (5.4) (4.0) Transaction and integration costs (1) (9.1) (6.9) (13.6) (20.2) Restructuring and exit costs (2) (18.4) (5.4) (28.2) (8.0) Foreign currency gain (loss) related to hyperinflationary subsidiaries (3) 1.3 (2.2) 1.6 (0.2) Adjustment for tax indemnification asset (4) (0.5) (1.3) (0.4) (1.3) Acquisition accounting adjustments (5) — — (1.3) — Bain Capital management fee (6) — — — (19.4) Non-cash pension and other post-employment benefit plan (7) 3.4 3.9 7.0 7.7 Unrealized foreign currency exchange gain (loss) (8) 4.2 (1.7) 5.3 (7.6) Factoring and securitization fees (9) (1.3) (1.2) (2.2) (2.2) Share-based compensation (10) (17.7) (19.8) (32.8) (83.3) Tax receivable agreement adjustments (11) 6.6 (4.1) 13.0 (4.1) COVID-19 inventory charges (12) (17.4) — (17.4) — Other items (0.4) (0.1) (0.8) (1.1) Loss before income tax provision (benefit) $ (33.7) $ (11.1) $ (70.9) $ (109.2) (1) These costs consist primarily of professional and consulting services which are non-operational in nature, costs related to strategic initiatives, acquisition-related costs, and costs incurred in preparing to become a publicly traded company. (2) Includes costs related to restructuring programs and business exit activities. (3) Argentina and Turkey were deemed to have highly inflationary economies and the functional currencies for our Argentina and Turkey operations were changed from the Argentine peso and Turkish lira to the United States dollar and remeasurement charges/credits are recorded in our Condensed Consolidated Statements of Operations rather than as a component of Cumulative Translation Adjustment on our Condensed Consolidated Balance Sheets. (4) In connection with the Diversey Acquisition, the purchase agreement governing the transaction includes indemnification provisions with respect to tax liabilities. The offset to this adjustment is included in income tax provision. (5) In connection with various acquisitions we recorded fair value increases to our inventory. These amounts represent the amortization of this increase. (6) Represents fees paid to Bain Capital pursuant a management agreement whereby we have received general business consulting services; financial, managerial and operational advice; advisory and consulting services with respect to selection of advisors; advice in different fields; and financial and strategic planning and analysis. The management agreement was terminated in March 2021 pursuant to its terms upon the consummation of the IPO, and we recorded a termination fee of $17.5 million during the first quarter of 2021. (7) Represents the net impact of the expected return on plan assets, interest cost, and settlement cost components of net periodic defined benefit income related to our defined benefit pension plans. (8) Represents the unrealized foreign currency exchange impact on our operations, primarily attributed to the valuation of the U.S. Dollar-denominated debt held by our European entity. (9) Represents the fees to complete the sale of the receivables without recourse under our accounts receivable factoring and securitization agreements. (10) Represents compensation expense associated with our share-based equity and liability awards. (11) Represents the adjustment to our tax receivable agreement liability due to changes in valuation allowances that impact the realizability of the attributes of the tax receivable agreement. (12) Represents a charge of $17.4 million in the second quarter of 2022 for excess inventory and estimated disposal costs related to COVID-19. Geographic Regions Net sales (1) by geographic region are as follows: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Europe $ 324.1 $ 294.0 $ 616.7 $ 528.0 North America (2) 177.0 174.1 348.2 395.0 Asia Pacific 87.0 81.0 172.9 162.6 Middle East & Africa 70.8 55.0 132.3 107.9 Latin America 56.4 46.0 105.2 88.1 Total $ 715.3 $ 650.1 $ 1,375.3 $ 1,281.6 (1) No non-U.S. country accounted for net sales in excess of 10% of consolidated net sales for the three and six months ended June 30, 2022 or 2021. (2) Net sales to external customers within the U.S. were $142.0 million and $122.2 million for the three months ended June 30, 2022 and 2021, respectively, and $267.7 million and $269.9 million for the six months ended June 30, 2022 and 2021, respectively.

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER SHARE	EARNINGS (LOSS) PER SHARE The following table sets forth the calculation of basic and diluted earnings (loss) per share for the periods ended: Three Months Ended June 30, Six Months Ended June 30, (in millions, except per share amounts) 2022 2021 2022 2021 Basic Diluted Basic Diluted Basic Diluted Basic Diluted Net loss attributable to common shareholders $ (34.2) $ (34.2) $ (1.3) $ (1.3) $ (73.3) $ (73.3) $ (97.0) $ (97.0) Weighted average shares outstanding (1) 319.8 319.8 300.8 300.8 319.7 319.7 274.2 274.2 Dilutive securities (2) — — — — — — — — Denominator for earnings per share - weighted average shares 319.8 319.8 300.8 300.8 319.7 319.7 274.2 274.2 Loss per share $ (0.11) $ (0.11) $ — $ — $ (0.23) $ (0.23) $ (0.35) $ (0.35) (1) For purposes of calculating earnings (loss) per share the Company has retrospectively presented earnings (loss) per share as if the Reorganization Transactions had occurred at the beginning of the earliest period presented. Such retrospective presentation reflects an increase of approximately 47.4 million shares due to the exchange of shares in Constellation for shares in the Company. (2) For the three and six months ended June 30, 2022 and 2021, potentially dilutive securities were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Our Condensed Consolidated Financial Statements include all of the accounts of the Company and our subsidiaries. These Condensed Consolidated Financial Statements reflect our financial position, results of operations, cash flows and changes in stockholders' equity in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). All intercompany accounts and transactions have been eliminated. All amounts are in US Dollar denominated millions, except per share amounts and unless otherwise noted, and are approximate due to rounding.
Reclassifications	Certain amounts within Transaction and integration costs (formerly described as "Transition and transformation costs") in the prior year's Condensed Consolidated Statement of Operations have been reclassified into Restructuring and exit costs to conform to the current year presentation, with no impact on net loss or accumulated deficit.
Use of Estimates	Use of Estimates The preparation of the Condensed Consolidated Financial Statements and related disclosures in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, disclosures of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the periods. These estimates include, among other items, purchase price accounting, assessing the collectability of receivables, the use and recoverability of inventory, the estimation of the fair value of financial instruments, useful lives and recoverability of tangible and intangible assets and impairment of goodwill, assumptions used in our defined benefit pension plans and other post-employment benefit plans, fair value measurement of assets, rebate costs, costs for incentive compensation, the valuation allowance on deferred tax assets and accruals for commitments and contingencies. Management reviews these estimates and assumptions periodically and reflects the effects of any revisions in the Condensed Consolidated Financial Statements in the period management determines any revisions to be necessary. Actual results could differ materially from these estimates.
New Accounting Guidance	New Accounting Guidance We consider the applicability and impact of all Accounting Standards Updates ("ASUs") issued by the Financial Accounting Standards Board ("FASB"). ASUs not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial statements. Recently Issued Accounting Standards Facilitation of the Effects of rate reform In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The ASU provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference the London Inter-bank Offered Rate ("LIBOR") or another reference rate expected to be discontinued. The Company can elect to apply the amendments in this update as of March 12, 2020 through December 31, 2022, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. The Company continues to evaluate this new standard update and the impact of this guidance on the Condensed Consolidated Financial Statements. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope, which explicitly clarifies which contracts, hedging relationships, and other transactions are within the scope of the optional expedients and exceptions allowed under Topic 848. The Company has not utilized any of the optional expedients or exceptions available under Topic 848. The Company continues to assess whether this ASU is applicable throughout the effective period, in conjunction with our assessment of ASU 2020-4.

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenues from contracts with customers summarized by region	Revenues from contracts with customers summarized by region were as follows: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Europe $ 322.8 $ 293.0 $ 614.4 $ 525.9 North America 174.9 172.6 344.2 391.8 Asia Pacific 84.0 79.1 167.8 158.2 Middle East and Africa 70.8 55.1 132.3 107.9 Latin America 56.3 46.0 105.1 88.1 Revenue from contracts with customers 708.8 645.8 1,363.8 1,271.9 Other revenue (Leasing: Sales-type and Operating) 6.5 4.3 11.5 9.7 Total revenue $ 715.3 $ 650.1 $ 1,375.3 $ 1,281.6

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
	Jun. 30, 2022
Business Combinations [Abstract]
Fair values of the net assets acquired	The following table summarizes the fair values of the net assets acquired during 2022: (in millions) Six Months Ended June 30, 2022 Cash and cash equivalents $ 10.7 Trade receivables 7.1 Inventories 3.9 Prepaid expenses and other current assets 1.8 Property, plant and equipment 6.3 Intangible assets 15.6 Accounts payable (4.1) Other current liabilities (5.0) Other non-current liabilities (0.1) Deferred taxes (4.6) Net assets acquired before goodwill on acquisition 31.6 Goodwill on acquisition 20.5 Net cash paid for acquisitions $ 52.1

FINANCIAL STATEMENT DETAILS (Ta

FINANCIAL STATEMENT DETAILS (Tables)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net inventory balances	Our net inventory balances were: (in millions) June 30, 2022 December 31, 2021 Raw materials $ 77.1 $ 74.2 Work in process 3.4 2.8 Finished goods 289.2 260.6 $ 369.7 $ 337.6
Activity in allowance for credit losses for trade and lease receivables	The following represents the activity in our allowance for credit losses for trade and lease receivables: Six Months Ended June 30, (in millions) 2022 2021 Balance, beginning of period $ 44.2 $ 35.1 Provision for bad debts 1.8 3.3 Write-offs (6.6) (1.9) Balance, end of period $ 39.4 $ 36.5
Components of prepaid expenses and other current assets	The components of prepaid expenses and other current assets were as follows: (in millions) June 30, 2022 December 31, 2021 Prepaid expenses $ 39.5 $ 36.1 Income tax receivables 28.6 20.2 Derivatives 36.1 11.3 Other current assets 1.5 1.8 $ 105.7 $ 69.4
Components of other non-current assets	The components of other non-current assets were as follows: (in millions) June 30, 2022 December 31, 2021 Dosing and dispensing equipment $ 140.8 $ 142.0 Operating lease right-of-use assets, net 86.9 94.6 Deferred taxes 48.5 51.8 Derivatives 19.5 25.9 Tax indemnification asset 17.4 17.8 Lease receivables 14.7 18.0 Customer prebates 14.0 16.6 Finance lease right-of-use assets, net 10.2 4.3 Other non-current assets 13.0 11.3 $ 365.0 $ 382.3
Components of other current liabilities	The components of other current liabilities were as follows: (in millions) June 30, 2022 December 31, 2021 Accrued customer volume rebates $ 136.1 $ 138.1 Accrued salaries, wages and related costs 85.0 88.7 Value added, general and sales tax payable 27.0 25.3 Operating lease liability 19.4 21.4 Accrued interest payable 16.9 11.0 Derivatives 13.0 8.2 Income taxes payable 6.1 8.4 Accrued share-based compensation 5.8 5.4 Contingent consideration 4.6 4.4 Other accrued liabilities 70.4 73.6 $ 384.3 $ 384.5
Components of other non-current liabilities	The components of other non-current liabilities were as follows: (in millions) June 30, 2022 December 31, 2021 Tax receivable agreement $ 212.0 $ 238.1 Defined benefit pension plan liability 113.4 129.6 Operating lease liability 76.3 72.5 Uncertain tax positions 44.6 44.5 Derivatives 15.4 4.9 Asset retirement obligations 6.2 6.4 Accrued share-based compensation 4.4 6.0 Other post-employment benefit plan liability 2.1 2.1 Other non-current liabilities 13.5 15.9 $ 487.9 $ 520.0
Detail of Other (Income) Expense, net	The following table provides details of our Other (Income) Expense, net: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Interest income $ (0.7) $ (1.2) $ (1.4) $ (2.1) Unrealized foreign exchange (gain) loss (4.2) 1.7 (5.3) 7.6 Realized foreign exchange (gain) loss (1.5) 0.9 (0.3) 0.6 Non-cash pension and other post-employment benefit plan (3.4) (3.9) (7.0) (7.7) Adjustment for tax indemnification asset 0.5 1.3 0.4 1.3 Factoring and securitization fees 1.3 1.2 2.2 2.2 Tax receivable agreement adjustments (6.6) 4.1 (13.0) 4.1 Other, net (0.4) (0.1) 0.5 (1.9) $ (15.0) $ 4.0 $ (23.9) $ 4.1

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Property and equipment and accumulated depreciation balances	Our property and equipment and accumulated depreciation balances were as follows: (in millions) June 30, 2022 December 31, 2021 Land and improvements $ 40.8 $ 41.3 Buildings 55.8 55.4 Machinery and equipment 104.1 95.4 Other property and equipment 51.1 51.6 Construction-in-progress 75.9 49.4 Property and equipment, gross 327.7 293.1 Less: Accumulated depreciation (98.3) (82.4) Property and equipment, net $ 229.4 $ 210.7

GOODWILL AND IDENTIFIABLE INT_2

GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Rollforward of goodwill balances by reportable segment	The following table represents a roll forward of our goodwill balances by reportable segments: (in millions) Institutional Food & Beverage Total Balance at December 31, 2021 $ 330.4 $ 141.1 $ 471.5 Acquisitions 20.5 — 20.5 Acquisition adjustments (1) — (1.7) (1.7) Foreign currency translation (15.8) (6.5) (22.3) Balance at June 30, 2022 $ 335.1 $ 132.9 $ 468.0 (1) Represents measurement period adjustments related to the acquisition of Birko Corporation.
Gross carrying amounts and accumulated amortization of identifiable intangible assets by major class with definite lives	The following table summarizes the gross carrying amounts and accumulated amortization of identifiable intangible assets by major class with definite and indefinite lives at June 30, 2022: (in millions) Gross Carrying Value Accumulated Amortization Accumulated Impairment Net Book Value Customer relationships $ 890.9 $ (194.3) $ — $ 696.6 Brand name 581.7 (139.8) — 441.9 Capitalized software 86.9 (74.7) — 12.2 Intellectual property 44.7 (8.8) — 35.9 Trademarks 25.1 (7.0) — 18.1 Non-compete agreements 8.3 (7.7) — 0.6 Favorable leases 4.2 (3.3) — 0.9 Total intangible assets with definite lives 1,641.8 (435.6) — 1,206.2 Trade name with indefinite life 815.1 — — 815.1 Total identifiable intangible assets $ 2,456.9 $ (435.6) $ — $ 2,021.3 The following table summarizes the gross carrying amounts and accumulated amortization of identifiable intangible assets by major class with definite and indefinite lives at December 31, 2021: (in millions) Gross Carrying Value Accumulated Amortization Accumulated Impairment Net Book Value Customer relationships $ 920.6 $ (181.0) $ — $ 739.6 Brand name 610.4 (131.4) — 479.0 Capitalized software 84.2 (70.1) — 14.1 Intellectual property 44.5 (6.7) — 37.8 Trademarks 27.7 (7.5) — 20.2 Non-compete agreements 8.8 (8.2) — 0.6 Favorable leases 4.4 (3.1) — 1.3 Total intangible assets with definite lives 1,700.6 (408.0) — 1,292.6 Trade name with indefinite life 854.7 — — 854.7 Total identifiable intangible assets $ 2,555.3 $ (408.0) $ — $ 2,147.3
Gross carrying amounts and accumulated amortization of identifiable intangible assets by major class with indefinite lives	The following table summarizes the gross carrying amounts and accumulated amortization of identifiable intangible assets by major class with definite and indefinite lives at June 30, 2022: (in millions) Gross Carrying Value Accumulated Amortization Accumulated Impairment Net Book Value Customer relationships $ 890.9 $ (194.3) $ — $ 696.6 Brand name 581.7 (139.8) — 441.9 Capitalized software 86.9 (74.7) — 12.2 Intellectual property 44.7 (8.8) — 35.9 Trademarks 25.1 (7.0) — 18.1 Non-compete agreements 8.3 (7.7) — 0.6 Favorable leases 4.2 (3.3) — 0.9 Total intangible assets with definite lives 1,641.8 (435.6) — 1,206.2 Trade name with indefinite life 815.1 — — 815.1 Total identifiable intangible assets $ 2,456.9 $ (435.6) $ — $ 2,021.3 The following table summarizes the gross carrying amounts and accumulated amortization of identifiable intangible assets by major class with definite and indefinite lives at December 31, 2021: (in millions) Gross Carrying Value Accumulated Amortization Accumulated Impairment Net Book Value Customer relationships $ 920.6 $ (181.0) $ — $ 739.6 Brand name 610.4 (131.4) — 479.0 Capitalized software 84.2 (70.1) — 14.1 Intellectual property 44.5 (6.7) — 37.8 Trademarks 27.7 (7.5) — 20.2 Non-compete agreements 8.8 (8.2) — 0.6 Favorable leases 4.4 (3.1) — 1.3 Total intangible assets with definite lives 1,700.6 (408.0) — 1,292.6 Trade name with indefinite life 854.7 — — 854.7 Total identifiable intangible assets $ 2,555.3 $ (408.0) $ — $ 2,147.3

DEBT AND CREDIT FACILITIES (Tab

DEBT AND CREDIT FACILITIES (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Components of debt and credit facilities	The components of debt and credit facilities were as follows: (in millions) June 30, 2022 December 31, 2021 Senior Secured Credit Facilities 2021 U.S. Dollar Term Loan $ 1,492.5 $ 1,500.0 Revolving Credit Facility — — 2021 Senior Notes 500.0 500.0 Short-term borrowings 6.5 10.7 Finance lease obligations 10.1 4.4 Financing obligations 22.8 23.1 Unamortized deferred financing costs (32.7) (35.3) Unamortized original issue discount (7.7) (8.3) Total debt 1,991.5 1,994.6 Less: Current portion of long-term debt (11.4) (10.9) Short-term borrowings (6.5) (10.7) Long-term debt $ 1,973.6 $ 1,973.0
Debt redemption prices	Year Percentage October 1, 2024 to September 30, 2025 102.313% October 1, 2025 to September 30, 2026 101.156% On or after October 1, 2026 100.000%

DERIVATIVES AND HEDGING ACTIV_2

DERIVATIVES AND HEDGING ACTIVITIES (Tables)	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair value of derivative instruments included in the Consolidated Balance Sheets	The following table details the fair value of our derivative instruments, which are included as a part of our Other non-current assets, Other current liabilities and Other non-current liabilities in our Condensed Consolidated Balance Sheets. (in millions) June 30, 2022 December 31, 2021 Derivatives designated as hedging instruments: Derivative assets Foreign currency forward contracts $ 0.2 $ 0.6 Interest rate caps 23.1 2.9 Cross currency swaps 15.6 32.6 Total derivative assets $ 38.9 $ 36.1 Derivative liabilities Interest rate caps $ — $ (0.7) Cross currency swaps (5.8) — Total derivative liabilities $ (5.8) $ (0.7) Derivatives not designated as hedging instruments: Derivative assets Foreign currency forward contracts $ 3.7 $ 1.1 Interest rate swaps 13.0 — Total derivative assets $ 16.7 $ 1.1 Derivative liabilities Foreign currency forward contracts $ (1.9) $ (1.1) Interest rate swaps (20.7) (11.3) Total derivative liabilities $ (22.6) $ (12.4)
Components of derivatives	Our derivatives consist of the following: Derivative Instrument Hedged Item Notional Amount (in millions) Original Maturity in Months U.S. dollar floating to Euro fixed interest rate swap 2021 U.S. Dollar Term Loan $ 500.0 52 U.S. dollar interest rate caps 2021 U.S. Dollar Term Loan $ 650.0 36 U.S. dollar to Euro currency swaps 2021 Senior Notes $ 500.0 52 U.S. dollar currency forward contracts Working Capital $ 333.9 1-12 Floating to fixed interest rate swap (1) (2) Not Applicable $ 720.0 60 Fixed to floating interest rate swap (1) (2) Not Applicable $ 720.0 36 (1) The notional amount is reduced to $315.0 million in July 2023. (2) In connection with our debt refinancing in 2021, we entered into a fixed to floating interest rate swap to offset the existing floating to fixed interest rate swap.
Effect of derivative instruments on Consolidated Statements of Operations	The following table details the (income) expense related to our derivative instruments on our Condensed Consolidated Statements of Operations, for which the amounts are included in Other (income) expense: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Foreign currency forward contracts $ (2.2) $ — $ (3.3) $ — Interest rate swaps (0.3) 2.3 (0.5) 4.5 Interest rate caps (0.1) — (0.2) — Cross currency swaps (38.5) — (70.8) — Total $ (41.1) $ 2.3 $ (74.8) $ 4.5

FAIR VALUE MEASUREMENTS AND O_2

FAIR VALUE MEASUREMENTS AND OTHER FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair value hierarchy of financial assets and liabilities measured on a recurring basis	The following table details the fair value hierarchy of our financial assets and liabilities, which are measured at fair value on a recurring basis: June 30, 2022 (in millions) Total Fair Value Level 1 Level 2 Level 3 Cash equivalents $ 144.5 $ 144.5 $ — $ — Restricted cash and compensating balance deposits $ 0.6 $ 0.6 $ — $ — Cross currency swap, net asset $ 9.8 $ — $ 9.8 $ — Interest rate caps, net asset $ 23.1 $ — $ 23.1 $ — Foreign currency forward contracts, net liability $ 2.0 $ — $ 2.0 $ — Interest rate swaps, net liability $ (7.7) $ — $ (7.7) $ — Contingent consideration $ (4.6) $ — $ — $ (4.6) December 31, 2021 Total Fair Value Level 1 Level 2 Level 3 Cash equivalents $ 111.6 $ 111.6 $ — $ — Restricted cash and compensating balance deposits $ 0.6 $ 0.6 $ — $ — Cross currency swap, net asset $ 32.6 $ — $ 32.6 $ — Interest rate caps, net asset $ 2.2 $ — $ 2.2 $ — Foreign currency forward contracts, net asset $ 0.6 $ — $ 0.6 $ — Interest rate swaps, net liability $ (11.3) $ — $ (11.3) $ — Contingent consideration $ (4.6) $ — $ — $ (4.6)
Carrying amounts and estimated fair values of debt	The table below shows the carrying amounts and estimated fair values of our debt, all of which are based on Level 2 inputs: June 30, 2022 December 31, 2021 (in millions) Carrying Amount Fair Value Carrying Amount Fair Value 2021 U.S. Dollar Term Loan (1) $ 1,458.6 $ 1,203.0 $ 1,463.4 $ 1,464.9 2021 Senior Notes (2) 493.5 462.0 493.0 497.5 Revolving Credit Facility — — — — $ 1,952.1 $ 1,665.0 $ 1,956.4 $ 1,962.4 (1) Carrying amounts are net of deferred financing costs and original issue discount. (2) Carrying amount is net of deferred financing costs.

DEFINED BENEFIT PENSION PLANS_2

DEFINED BENEFIT PENSION PLANS AND OTHER POST-EMPLOYMENT BENEFIT PLANS (Tables)	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Components of net periodic benefit cost	The following table shows the components of our net period benefit income; Three Months Ended June 30, Six Months Ended June 30, Line Item on Condensed Consolidated Statements of Operations (in millions) 2022 2021 2022 2021 Components of net periodic benefit income: Service cost $ 1.5 $ 1.6 $ 2.8 $ 3.3 Selling, general and administrative expenses Interest cost 1.0 0.7 1.9 1.4 Other income Expected return on plan assets (4.4) (4.7) (8.9) (9.2) Other income Total benefit income $ (1.9) $ (2.4) $ (4.2) $ (4.5)

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Share-based compensation expense	Share-based compensation expense related to equity and liability awards is included in the following line items in the Condensed Consolidated Statements of Operations: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Cost of sales $ 0.1 $ 1.3 $ (0.3) $ 6.0 Selling, general and administrative expenses 17.6 18.5 33.1 77.3 Total $ 17.7 $ 19.8 $ 32.8 $ 83.3 Share-based compensation expense by type of award is as follows: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Management equity incentive plan (1) $ — $ — $ — $ 37.5 Restricted shares (1) 11.6 11.2 23.0 11.2 Restricted share units 3.9 4.5 6.6 4.5 Performance share units 0.9 — 1.8 — Share options 0.3 — 0.5 — Cash-settled long-term incentive plan 0.8 2.5 1.3 28.5 Cash-settled restricted share units 0.2 1.6 (0.4) 1.6 $ 17.7 $ 19.8 $ 32.8 $ 83.3
Summary of awards granted	The table below summarizes the number of shares granted and the weighted-average grant-date fair value per unit during the six months ended June 30, 2022: Number of Awards Weighted Average Grant Date Fair Value Restricted share units 971,836 $ 10.31 Performance share units 903,991 $ 11.38 Share options 491,555 $ 10.71 2,367,382

RESTRUCTURING AND EXIT ACTIVI_2

RESTRUCTURING AND EXIT ACTIVITIES (Tables)	6 Months Ended
	Jun. 30, 2022
Restructuring and Related Activities [Abstract]
Details for restructuring activities	The following table details our restructuring and exit costs as reflected in the Condensed Consolidated Statements of Operations: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Provision for lease receivables $ (0.3) $ — $ (1.8) $ — Facilities 17.1 — 25.4 — Employee termination benefits 1.4 2.1 3.2 2.6 Other 0.2 3.3 1.4 5.4 Total $ 18.4 $ 5.4 $ 28.2 $ 8.0 Restructuring and exit costs by segment were as follows: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Institutional $ 18.5 $ 6.7 $ 28.1 $ 6.7 Food & Beverage — 0.1 0.4 0.9 Corporate (0.1) (1.4) (0.3) 0.4 Total $ 18.4 $ 5.4 $ 28.2 $ 8.0
Details for restructuring accrual	The following table provides the details for the restructuring and exit cost liabilities: (in millions) Provision for Lease Receivables Facilities Employee Termination Benefits and Other Total Balance as of December 31, 2021 $ 15.7 $ 0.6 $ 16.7 $ 33.0 Accrual and accrual adjustments (1.8) 25.4 4.6 28.2 Cash payments during period — (26.0) (5.9) (31.9) Balance as of June 30, 2022 $ 13.9 $ — $ 15.4 $ 29.3

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Detail of comprehensive loss	The following table provides detail of comprehensive loss: (in millions) Unrecognized Pension Items Hedging Activities Cumulative Translation Adjustment Accumulated Other Balance December 31, 2021 $ (6.6) $ (2.7) $ (147.7) $ (157.0) Other comprehensive income before reclassifications (0.8) (5.3) (45.3) (51.4) Amounts reclassified from AOCI to net income — 37.5 — 37.5 Net change (0.8) 32.2 (45.3) (13.9) Balance June 30, 2022 $ (7.4) $ 29.5 $ (193.0) $ (170.9) (in millions) Unrecognized Pension Items Hedging Activities Cumulative Translation Adjustment Accumulated Other Balance December 31, 2020 $ (42.6) $ (16.0) $ (154.1) $ (212.7) Other comprehensive loss before reclassifications — 9.6 54.3 63.9 Amounts reclassified from AOCI to net income — (4.5) — (4.5) Net change — 5.1 54.3 59.4 Balance June 30, 2021 $ (42.6) $ (10.9) $ (99.8) $ (153.3)

SEGMENTS (Tables)

SEGMENTS (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Net sales and Adjusted EBITDA for each of the reportable segments	Net sales for each of the Company’s reportable segments is as follows: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Institutional $ 509.6 $ 476.4 $ 981.8 $ 944.3 Food & Beverage 205.7 173.7 393.5 337.3 Total $ 715.3 $ 650.1 $ 1,375.3 $ 1,281.6 Adjusted EBITDA for each of the Company’s reportable segments is as follows: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Institutional $ 74.5 $ 78.1 $ 127.5 $ 149.2 Food & Beverage 23.5 35.1 45.6 67.0 Total $ 98.0 $ 113.2 $ 173.1 $ 216.2
Reconciliation of Adjusted EBITDA for the reportable segments to consolidated loss before income tax provision	The following table shows a reconciliation of Adjusted EBITDA for the Company's reportable segments to consolidated loss before income tax provision (benefit): Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Adjusted EBITDA for reportable segments $ 98.0 $ 113.2 $ 173.1 $ 216.2 Corporate costs (9.6) (11.9) (24.4) (22.2) Interest expense (27.0) (27.9) (57.3) (71.6) Interest income 0.7 1.2 1.4 2.1 Amortization expense of intangible assets (22.8) (24.1) (47.0) (48.4) Depreciation expense included in cost of sales (20.9) (20.8) (41.5) (41.6) Depreciation expense included in selling, general and administrative expenses (2.8) (2.0) (5.4) (4.0) Transaction and integration costs (1) (9.1) (6.9) (13.6) (20.2) Restructuring and exit costs (2) (18.4) (5.4) (28.2) (8.0) Foreign currency gain (loss) related to hyperinflationary subsidiaries (3) 1.3 (2.2) 1.6 (0.2) Adjustment for tax indemnification asset (4) (0.5) (1.3) (0.4) (1.3) Acquisition accounting adjustments (5) — — (1.3) — Bain Capital management fee (6) — — — (19.4) Non-cash pension and other post-employment benefit plan (7) 3.4 3.9 7.0 7.7 Unrealized foreign currency exchange gain (loss) (8) 4.2 (1.7) 5.3 (7.6) Factoring and securitization fees (9) (1.3) (1.2) (2.2) (2.2) Share-based compensation (10) (17.7) (19.8) (32.8) (83.3) Tax receivable agreement adjustments (11) 6.6 (4.1) 13.0 (4.1) COVID-19 inventory charges (12) (17.4) — (17.4) — Other items (0.4) (0.1) (0.8) (1.1) Loss before income tax provision (benefit) $ (33.7) $ (11.1) $ (70.9) $ (109.2) (1) These costs consist primarily of professional and consulting services which are non-operational in nature, costs related to strategic initiatives, acquisition-related costs, and costs incurred in preparing to become a publicly traded company. (2) Includes costs related to restructuring programs and business exit activities. (3) Argentina and Turkey were deemed to have highly inflationary economies and the functional currencies for our Argentina and Turkey operations were changed from the Argentine peso and Turkish lira to the United States dollar and remeasurement charges/credits are recorded in our Condensed Consolidated Statements of Operations rather than as a component of Cumulative Translation Adjustment on our Condensed Consolidated Balance Sheets. (4) In connection with the Diversey Acquisition, the purchase agreement governing the transaction includes indemnification provisions with respect to tax liabilities. The offset to this adjustment is included in income tax provision. (5) In connection with various acquisitions we recorded fair value increases to our inventory. These amounts represent the amortization of this increase. (6) Represents fees paid to Bain Capital pursuant a management agreement whereby we have received general business consulting services; financial, managerial and operational advice; advisory and consulting services with respect to selection of advisors; advice in different fields; and financial and strategic planning and analysis. The management agreement was terminated in March 2021 pursuant to its terms upon the consummation of the IPO, and we recorded a termination fee of $17.5 million during the first quarter of 2021. (7) Represents the net impact of the expected return on plan assets, interest cost, and settlement cost components of net periodic defined benefit income related to our defined benefit pension plans. (8) Represents the unrealized foreign currency exchange impact on our operations, primarily attributed to the valuation of the U.S. Dollar-denominated debt held by our European entity. (9) Represents the fees to complete the sale of the receivables without recourse under our accounts receivable factoring and securitization agreements. (10) Represents compensation expense associated with our share-based equity and liability awards. (11) Represents the adjustment to our tax receivable agreement liability due to changes in valuation allowances that impact the realizability of the attributes of the tax receivable agreement. (12) Represents a charge of $17.4 million in the second quarter of 2022 for excess inventory and estimated disposal costs related to COVID-19.
Net sales by geographic region	Net sales (1) by geographic region are as follows: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Europe $ 324.1 $ 294.0 $ 616.7 $ 528.0 North America (2) 177.0 174.1 348.2 395.0 Asia Pacific 87.0 81.0 172.9 162.6 Middle East & Africa 70.8 55.0 132.3 107.9 Latin America 56.4 46.0 105.2 88.1 Total $ 715.3 $ 650.1 $ 1,375.3 $ 1,281.6 (1) No non-U.S. country accounted for net sales in excess of 10% of consolidated net sales for the three and six months ended June 30, 2022 or 2021. (2) Net sales to external customers within the U.S. were $142.0 million and $122.2 million for the three months ended June 30, 2022 and 2021, respectively, and $267.7 million and $269.9 million for the six months ended June 30, 2022 and 2021, respectively.

EARNINGS (LOSS) PER SHARE (Tabl

EARNINGS (LOSS) PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Calculation of basic and diluted earnings (loss) per share	The following table sets forth the calculation of basic and diluted earnings (loss) per share for the periods ended: Three Months Ended June 30, Six Months Ended June 30, (in millions, except per share amounts) 2022 2021 2022 2021 Basic Diluted Basic Diluted Basic Diluted Basic Diluted Net loss attributable to common shareholders $ (34.2) $ (34.2) $ (1.3) $ (1.3) $ (73.3) $ (73.3) $ (97.0) $ (97.0) Weighted average shares outstanding (1) 319.8 319.8 300.8 300.8 319.7 319.7 274.2 274.2 Dilutive securities (2) — — — — — — — — Denominator for earnings per share - weighted average shares 319.8 319.8 300.8 300.8 319.7 319.7 274.2 274.2 Loss per share $ (0.11) $ (0.11) $ — $ — $ (0.23) $ (0.23) $ (0.35) $ (0.35) (1) For purposes of calculating earnings (loss) per share the Company has retrospectively presented earnings (loss) per share as if the Reorganization Transactions had occurred at the beginning of the earliest period presented. Such retrospective presentation reflects an increase of approximately 47.4 million shares due to the exchange of shares in Constellation for shares in the Company. (2) For the three and six months ended June 30, 2022 and 2021, potentially dilutive securities were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive.

THE COMPANY AND BASIS OF PRES_2

THE COMPANY AND BASIS OF PRESENTATION (Details) $ / shares in Units, $ in Millions	Nov. 15, 2021 USD ($) $ / shares shares	Apr. 09, 2021 USD ($) shares	Mar. 29, 2021 USD ($) $ / shares shares	Jun. 30, 2022 employee
Subsidiary, Sale of Stock [Line Items]
Stock offering, shares issued (in shares) | shares	15,000,000
Stock offering, price per share (in usd per share) | $ / shares	$ 15
Stock offering, net proceeds | $	$ 214.4
Number of employees | employee				9,000
IPO
Subsidiary, Sale of Stock [Line Items]
Stock offering, shares issued (in shares) | shares			46,153,846
Stock offering, price per share (in usd per share) | $ / shares			$ 15
Stock offering, net proceeds | $			$ 654.3
Underwriters' option
Subsidiary, Sale of Stock [Line Items]
Stock offering, shares issued (in shares) | shares		5,000,000
Stock offering, net proceeds | $		$ 71.4

REVENUE RECOGNITION (Details)

REVENUE RECOGNITION (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 708.8	$ 645.8	$ 1,363.8	$ 1,271.9
Other revenue (Leasing: Sales-type and Operating)	6.5	4.3	11.5	9.7
Total revenue	$ 715.3	$ 650.1	$ 1,375.3	$ 1,281.6
Charges For Rebates And Other Allowances Risk | Revenue from Contract with Customer Benchmark | Rebates And Allowances
Disaggregation of Revenue [Line Items]
Charges for rebates and other allowances, percent of gross sales	25.70%	23.80%	25.30%	24.20%
Europe
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 322.8	$ 293	$ 614.4	$ 525.9
Total revenue	324.1	294	616.7	528
North America
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	174.9	172.6	344.2	391.8
Total revenue	177	174.1	348.2	395
Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	84	79.1	167.8	158.2
Total revenue	87	81	172.9	162.6
Middle East and Africa
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	70.8	55.1	132.3	107.9
Total revenue	70.8	55	132.3	107.9
Latin America
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	56.3	46	105.1	88.1
Total revenue	$ 56.4	$ 46	$ 105.2	$ 88.1

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2022
Business Acquisition [Line Items]
Purchase accounting adjustment, goodwill			$ (1.7)
Birko Corporation
Business Acquisition [Line Items]
Purchase accounting adjustment, net assets		$ 1.6
Purchase accounting adjustment, goodwill		(1.7)
Purchase accounting adjustment, additional consideration		$ 0.1
Shorrock Trichem Ltd
Business Acquisition [Line Items]
Purchase accounting adjustment, net assets	$ 3.1
Purchase accounting adjustment, goodwill	$ 3.1

ACQUISITIONS - Fair values of n

ACQUISITIONS - Fair values of net assets acquired (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill on acquisition	$ 468	$ 471.5
2022 Acquisitions
Business Acquisition [Line Items]
Cash and cash equivalents	10.7
Trade receivables	7.1
Inventories	3.9
Prepaid expenses and other current assets	1.8
Property, plant and equipment	6.3
Intangible assets	15.6
Accounts payable	(4.1)
Other current liabilities	(5)
Other non-current liabilities	(0.1)
Deferred taxes	(4.6)
Net assets acquired before goodwill on acquisition	31.6
Goodwill on acquisition	20.5
Net cash paid for acquisitions	$ 52.1

FINANCIAL STATEMENT DETAILS - I

FINANCIAL STATEMENT DETAILS - Inventories (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 77.1		$ 77.1		$ 74.2
Work in process	3.4		3.4		2.8
Finished goods	289.2		289.2		260.6
Inventories	369.7		369.7		$ 337.6
COVID-19 inventory charges	17.4	$ 0	$ 17.4	$ 0
COVID-19 inventory charges, excess inventory	14.1
COVID-19 inventory charges, disposal costs	$ 3.3

FINANCIAL STATEMENT DETAILS - F

FINANCIAL STATEMENT DETAILS - Factoring of trade receivables (Details) - Factofrance $ in Millions	6 Months Ended
	Jun. 30, 2021 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables sold	$ 313.3
Advances received	315.6
Amount collected from customers and remitted	$ 320.2

FINANCIAL STATEMENT DETAILS - S

FINANCIAL STATEMENT DETAILS - Securitization of trade receivables (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Maximum funding	$ 150		$ 100
Receivables pledged as collateral	137.6
Fees associated with the arrangement	2.3	$ 0.8
Proceeds from receivables transferred and derecognized	272.8	277.3
Collection of securitized accounts receivable	$ 210.9	$ 289.9

FINANCIAL STATEMENT DETAILS - A

FINANCIAL STATEMENT DETAILS - Allowance for credit losses (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 44.2	$ 35.1
Provision for bad debts	1.8	3.3
Write-offs	(6.6)	(1.9)
Balance, end of period	$ 39.4	$ 36.5

FINANCIAL STATEMENT DETAILS - P

FINANCIAL STATEMENT DETAILS - Prepaid expenses and other current assets (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid expenses	$ 39.5	$ 36.1
Income tax receivables	28.6	20.2
Derivatives	36.1	11.3
Other current assets	1.5	1.8
Prepaid expenses and other current assets	$ 105.7	$ 69.4

FINANCIAL STATEMENT DETAILS - O

FINANCIAL STATEMENT DETAILS - Other non-current assets (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2020	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Dosing and dispensing equipment	$ 140.8		$ 140.8		$ 142
Operating lease right-of-use assets, net	86.9		86.9		94.6
Deferred taxes	48.5		48.5		51.8
Derivatives	19.5		19.5		25.9
Tax indemnification asset	17.4		17.4		17.8
Lease receivables	14.7		14.7		18
Customer prebates	14		14		16.6
Finance lease right-of-use assets, net	10.2		10.2		4.3
Other non-current assets	13		13		11.3
Other non-current assets	365		365		$ 382.3
Depreciation expense	$ 17	$ 17.4	$ 34.3	$ 34.8

FINANCIAL STATEMENT DETAILS -_2

FINANCIAL STATEMENT DETAILS - Other current liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued customer volume rebates	$ 136.1	$ 138.1
Accrued salaries, wages and related costs	85	88.7
Value added, general and sales tax payable	27	25.3
Operating lease liability	19.4	21.4
Accrued interest payable	16.9	11
Derivatives	13	8.2
Income taxes payable	6.1	8.4
Accrued share-based compensation	5.8	5.4
Contingent consideration	4.6	4.4
Other accrued liabilities	70.4	73.6
Other current liabilities	$ 384.3	$ 384.5

FINANCIAL STATEMENT DETAILS -_3

FINANCIAL STATEMENT DETAILS - Other non-current liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Tax receivable agreement	$ 212	$ 238.1
Defined benefit pension plan liability	113.4	129.6
Operating lease liability	76.3	72.5
Uncertain tax positions	44.6	44.5
Derivatives	15.4	4.9
Asset retirement obligations	6.2	6.4
Accrued share-based compensation	4.4	6
Other post-employment benefit plan liability	2.1	2.1
Other non-current liabilities	13.5	15.9
Other non-current liabilities	$ 487.9	$ 520

FINANCIAL STATEMENT DETAILS -_4

FINANCIAL STATEMENT DETAILS - Other income (expense), net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interest income	$ (0.7)	$ (1.2)	$ (1.4)	$ (2.1)
Unrealized foreign exchange (gain) loss	(4.2)	1.7	(5.3)	7.6
Realized foreign exchange (gain) loss	(1.5)	0.9	(0.3)	0.6
Non-cash pension and other post-employment benefit plan	(3.4)	(3.9)	(7)	(7.7)
Adjustment for tax indemnification asset	0.5	1.3	0.4	1.3
Factoring and securitization fees	1.3	1.2	2.2	2.2
Tax receivable agreement adjustments	(6.6)	4.1	(13)	4.1
Other, net	(0.4)	(0.1)	0.5	(1.9)
Other income (expense), net	$ (15)	$ 4	$ (23.9)	$ 4.1

PROPERTY AND EQUIPMENT, NET (De

PROPERTY AND EQUIPMENT, NET (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 327.7		$ 327.7		$ 293.1
Less: Accumulated depreciation	(98.3)		(98.3)		(82.4)
Property and equipment, net	229.4		229.4		210.7
Depreciation expense	6.8	$ 5.4	12.6	$ 10.8
Land and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	40.8		40.8		41.3
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment, gross	55.8		55.8		55.4
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	104.1		104.1		95.4
Other property and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	51.1		51.1		51.6
Construction-in-progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 75.9		$ 75.9		$ 49.4

GOODWILL AND IDENTIFIABLE INT_3

GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS - Goodwill (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Goodwill [Roll Forward]
Balance at December 31, 2021	$ 471.5
Acquisitions	20.5
Acquisition adjustments	(1.7)
Foreign currency translation	(22.3)
Balance at June 30, 2022	468
Institutional
Goodwill [Roll Forward]
Balance at December 31, 2021	330.4
Acquisitions	20.5
Acquisition adjustments	0
Foreign currency translation	(15.8)
Balance at June 30, 2022	335.1
Food & Beverage
Goodwill [Roll Forward]
Balance at December 31, 2021	141.1
Acquisitions	0
Acquisition adjustments	(1.7)
Foreign currency translation	(6.5)
Balance at June 30, 2022	$ 132.9

GOODWILL AND IDENTIFIABLE INT_4

GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS - Identifiable Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Intangible assets with definite lives
Gross carrying value	$ 1,641.8		$ 1,641.8		$ 1,700.6
Accumulated amortization	(435.6)		(435.6)		(408)
Net book value	1,206.2		1,206.2		1,292.6
Intangible assets with indefinite lives
Total identifiable intangible assets, gross carrying value	2,456.9		2,456.9		2,555.3
Total identifiable intangible assets, net book value	2,021.3		2,021.3		2,147.3
Amortization of intangible assets	22.8	$ 24.1	47	$ 48.4
Trade name
Intangible assets with indefinite lives
Gross carrying value/net book value	815.1		815.1		854.7
Customer relationships
Intangible assets with definite lives
Gross carrying value	890.9		890.9		920.6
Accumulated amortization	(194.3)		(194.3)		(181)
Net book value	696.6		696.6		739.6
Trade name
Intangible assets with definite lives
Gross carrying value	581.7		581.7		610.4
Accumulated amortization	(139.8)		(139.8)		(131.4)
Net book value	441.9		441.9		479
Capitalized software
Intangible assets with definite lives
Gross carrying value	86.9		86.9		84.2
Accumulated amortization	(74.7)		(74.7)		(70.1)
Net book value	12.2		12.2		14.1
Intellectual property
Intangible assets with definite lives
Gross carrying value	44.7		44.7		44.5
Accumulated amortization	(8.8)		(8.8)		(6.7)
Net book value	35.9		35.9		37.8
Trademarks
Intangible assets with definite lives
Gross carrying value	25.1		25.1		27.7
Accumulated amortization	(7)		(7)		(7.5)
Net book value	18.1		18.1		20.2
Non-compete agreements
Intangible assets with definite lives
Gross carrying value	8.3		8.3		8.8
Accumulated amortization	(7.7)		(7.7)		(8.2)
Net book value	0.6		0.6		0.6
Favorable leases
Intangible assets with definite lives
Gross carrying value	4.2		4.2		4.4
Accumulated amortization	(3.3)		(3.3)		(3.1)
Net book value	$ 0.9		$ 0.9		$ 1.3

DEBT AND CREDIT FACILITIES - Co

DEBT AND CREDIT FACILITIES - Components of debt and credit facilities (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Schedule of Long-term and Short-term Debt Instruments [Line Items]
Short-term borrowings	$ 6.5	$ 10.7
Finance lease obligations	10.1	4.4
Financing obligations	22.8	23.1
Unamortized deferred financing costs	(32.7)	(35.3)
Unamortized original issue discount	(7.7)	(8.3)
Total debt	1,991.5	1,994.6
Less: Current portion of long-term debt	(11.4)	(10.9)
Short-term borrowings	(6.5)	(10.7)
Long-term debt	1,973.6	1,973
Secured Debt | 2021 U.S. Dollar Term Loan
Schedule of Long-term and Short-term Debt Instruments [Line Items]
Total debt	1,492.5	1,500
Line of credit | Revolving Credit Facility | Revolving Credit Facility
Schedule of Long-term and Short-term Debt Instruments [Line Items]
Total debt	0	0
2021 Senior Notes
Schedule of Long-term and Short-term Debt Instruments [Line Items]
Total debt	$ 500	$ 500

DEBT AND CREDIT FACILITIES - Se

DEBT AND CREDIT FACILITIES - Senior Secured Credit Facilities (Details)	Sep. 29, 2021 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Secured Debt | 2021 U.S. Dollar Term Loan
Debt Instrument [Line Items]
Debt face amount	$ 1,500,000,000
Total net leverage ratio, required maximum	4.50
Total net leverage ratio, actual			0.0450
Total debt		$ 1,492,500,000	$ 1,500,000,000
Secured Debt | 2021 U.S. Dollar Term Loan | LIBOR
Debt Instrument [Line Items]
Interest rate at end of period		3.99%
Secured Debt | 2021 U.S. Dollar Term Loan | Interest Rate Scenario One | LIBOR
Debt Instrument [Line Items]
Floor interest rate	0.50%
Basis spread on variable interest rate	3%
Secured Debt | 2021 U.S. Dollar Term Loan | Interest Rate Scenario Two | ABR Rate
Debt Instrument [Line Items]
Basis spread on variable interest rate	2%
Secured Debt | 2021 U.S. Dollar Term Loan | Interest Rate Scenario Three | LIBOR
Debt Instrument [Line Items]
Basis spread on variable interest rate	2.75%
Secured Debt | 2021 U.S. Dollar Term Loan | Interest Rate Scenario Four | ABR Rate
Debt Instrument [Line Items]
Basis spread on variable interest rate	1.75%
Secured Debt | Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 450,000,000
Available borrowing capacity		$ 442,400,000	442,100,000
Line of credit | Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Total debt		0	0
Letters of credit outstanding		$ 7,600,000	$ 7,900,000

DEBT AND CREDIT FACILITIES - 20

DEBT AND CREDIT FACILITIES - 2021 Senior Notes (Details) - Senior Notes € in Millions	Sep. 29, 2021 USD ($)	Sep. 29, 2021 EUR (€)
2021 Senior Notes
Debt Instrument [Line Items]
Debt face amount | $	$ 500,000,000
Interest rate	4.625%	4.625%
Redemption price percentage	100%
Debt redemption, percent of aggregate principal amount	40%
2021 Senior Notes | Debt Instrument, Redemption, Period Four
Debt Instrument [Line Items]
Redemption price percentage	104.625%
2017 Senior Notes
Debt Instrument [Line Items]
Amount redeemed | €		€ 450
Interest rate	5.625%	5.625%

DEBT AND CREDIT FACILITIES - De

DEBT AND CREDIT FACILITIES - Debt redemption prices (Details) - 2021 Senior Notes - Senior Notes	Sep. 29, 2021
Debt Instrument, Redemption [Line Items]
Redemption price percentage	100%
October 1, 2024 to September 30, 2025
Debt Instrument, Redemption [Line Items]
Redemption price percentage	102.313%
October 1, 2025 to September 30, 2026
Debt Instrument, Redemption [Line Items]
Redemption price percentage	101.156%
On or after October 1, 2026
Debt Instrument, Redemption [Line Items]
Redemption price percentage	100%

DEBT AND CREDIT FACILITIES - Sa

DEBT AND CREDIT FACILITIES - Sale-Leaseback Transactions (Details) $ in Millions	1 Months Ended
	Mar. 31, 2020 USD ($) property renewal
Debt Disclosure [Abstract]
Number of properties sold | property	2
Proceeds from sale | $	$ 22.9
Initial lease term	15 years
Number of lease renewal options | renewal	4
Lease renewal term	5 years

DERIVATIVES AND HEDGING ACTIV_3

DERIVATIVES AND HEDGING ACTIVITIES - Fair Value of Derivative Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Derivatives designated as hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total derivative assets	$ 38.9	$ 36.1
Total derivative liabilities	(5.8)	(0.7)
Derivatives not designated as hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total derivative assets	16.7	1.1
Total derivative liabilities	(22.6)	(12.4)
Foreign currency forward contracts | Derivatives designated as hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total derivative assets	0.2	0.6
Foreign currency forward contracts | Derivatives not designated as hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total derivative assets	3.7	1.1
Total derivative liabilities	(1.9)	(1.1)
Interest rate caps | Derivatives designated as hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total derivative assets	23.1	2.9
Total derivative liabilities	0	(0.7)
Cross currency swaps | Derivatives designated as hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total derivative assets	15.6	32.6
Total derivative liabilities	(5.8)	0
Interest rate swaps | Derivatives not designated as hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total derivative assets	13	0
Total derivative liabilities	$ (20.7)	$ (11.3)

DERIVATIVES AND HEDGING ACTIV_4

DERIVATIVES AND HEDGING ACTIVITIES - Components of Derivatives (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Floating to fixed interest rate swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 720
Original maturity in months	60 months
Adjusted notional amount after month 48	$ 315
Fixed to floating interest rate swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 720
Original maturity in months	36 months
U.S. dollar to Euro currency swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 500
Original maturity in months	52 months
U.S. dollar floating to Euro fixed interest rate swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 500
Original maturity in months	52 months
Interest rate caps, net asset
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 650
Original maturity in months	36 months
U.S. dollar currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 333.9
U.S. dollar currency forward contracts | Minimum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Original maturity in months	1 month
U.S. dollar currency forward contracts | Maximum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Original maturity in months	12 months

DERIVATIVES AND HEDGING ACTIV_5

DERIVATIVES AND HEDGING ACTIVITIES - Additional Information (Details) - USD ($) $ in Millions				6 Months Ended
	May 23, 2022	May 18, 2022	Mar. 31, 2022	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Proceeds from termination of derivatives				$ 112.2	$ 0
U.S. dollar floating to Euro fixed interest rate swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount				500
U.S. dollar to Euro currency swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount				500
Proceeds from termination of derivatives	$ 35
Interest Rate Swap, US Dollar Floating To Euro Fixed, Terminated March 31, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount				500
Proceeds from termination of derivatives			$ 45.3
Interest Rate Swap, US Dollar Floating To Euro Fixed, Terminated May 18, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount				500
Proceeds from termination of derivatives		$ 31.9
Derivatives designated as hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Net unrealized after-tax gain				57.6	$ 10.7
Net unrealized after-tax derivative gain to be reclassified into earnings within the next twelve months				20.1
Derivatives designated as hedging instruments | U.S. dollar to Euro currency swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized after-tax derivative gain (loss) included in AOCI being amortized to interest expense over remaining life of contract				(7.5)
Derivatives designated as hedging instruments | Interest Rate Swap, US Dollar Floating To Euro Fixed, Terminated March 31, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized after-tax derivative gain (loss) included in AOCI being amortized to interest expense over remaining life of contract				16.8
Derivatives designated as hedging instruments | Interest Rate Swap, US Dollar Floating To Euro Fixed, Terminated May 18, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized after-tax derivative gain (loss) included in AOCI being amortized to interest expense over remaining life of contract				4.1
Derivatives not designated as hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized after-tax derivative gain (loss) included in AOCI being amortized to interest expense over remaining life of contract				$ (7.9)

DERIVATIVES AND HEDGING ACTIV_6

DERIVATIVES AND HEDGING ACTIVITIES - Consolidated Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	$ (41.1)	$ 2.3	$ (74.8)	$ 4.5
Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	(2.2)	0	(3.3)	0
Interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	(0.3)	2.3	(0.5)	4.5
Interest rate caps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	(0.1)	0	(0.2)	0
Cross currency swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total	$ (38.5)	$ 0	$ (70.8)	$ 0

FAIR VALUE MEASUREMENTS AND O_3

FAIR VALUE MEASUREMENTS AND OTHER FINANCIAL INSTRUMENTS - Assets and liabilities measured on a recurring basis (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	$ (4.6)	$ (4.6)
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	144.5	111.6
Restricted cash and compensating balance deposits	0.6	0.6
Contingent consideration	(4.6)	(4.6)
Fair Value, Recurring | Cross currency swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	9.8	32.6
Fair Value, Recurring | Interest rate caps, net asset
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	23.1	2.2
Fair Value, Recurring | Foreign currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		0.6
Derivative liabilities	2
Fair Value, Recurring | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	(7.7)	(11.3)
Fair Value, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	144.5	111.6
Restricted cash and compensating balance deposits	0.6	0.6
Contingent consideration	0	0
Fair Value, Recurring | Level 1 | Cross currency swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Fair Value, Recurring | Level 1 | Interest rate caps, net asset
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Fair Value, Recurring | Level 1 | Foreign currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		0
Derivative liabilities	0
Fair Value, Recurring | Level 1 | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	0	0
Fair Value, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Restricted cash and compensating balance deposits	0	0
Contingent consideration	0	0
Fair Value, Recurring | Level 2 | Cross currency swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	9.8	32.6
Fair Value, Recurring | Level 2 | Interest rate caps, net asset
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	23.1	2.2
Fair Value, Recurring | Level 2 | Foreign currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		0.6
Derivative liabilities	2
Fair Value, Recurring | Level 2 | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	(7.7)	(11.3)
Fair Value, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Restricted cash and compensating balance deposits	0	0
Contingent consideration	(4.6)	(4.6)
Fair Value, Recurring | Level 3 | Cross currency swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Fair Value, Recurring | Level 3 | Interest rate caps, net asset
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Fair Value, Recurring | Level 3 | Foreign currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		0
Derivative liabilities	0
Fair Value, Recurring | Level 3 | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	$ 0	$ 0

FAIR VALUE MEASUREMENTS AND O_4

FAIR VALUE MEASUREMENTS AND OTHER FINANCIAL INSTRUMENTS - Additional information (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Contingent consideration liability	$ 4.6	$ 4.6

FAIR VALUE MEASUREMENTS AND O_5

FAIR VALUE MEASUREMENTS AND OTHER FINANCIAL INSTRUMENTS - Debt fair values (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	$ 1,952.1	$ 1,956.4
Carrying Amount | 2021 U.S. Dollar Term Loan | Secured Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	1,458.6	1,463.4
Carrying Amount | 2021 Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	493.5	493
Carrying Amount | Revolving Credit Facility | Line of credit | Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0	0
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	1,665	1,962.4
Fair Value | 2021 U.S. Dollar Term Loan | Secured Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	1,203	1,464.9
Fair Value | 2021 Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	462	497.5
Fair Value | Revolving Credit Facility | Line of credit | Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	$ 0	$ 0

DEFINED BENEFIT PENSION PLANS_3

DEFINED BENEFIT PENSION PLANS AND OTHER POST-EMPLOYMENT BENEFIT PLANS (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Components of net periodic benefit income:
Service cost	$ 1.5	$ 1.6	$ 2.8	$ 3.3
Interest cost	1	0.7	1.9	1.4
Expected return on plan assets	(4.4)	(4.7)	(8.9)	(9.2)
Total benefit income	$ (1.9)	$ (2.4)	$ (4.2)	$ (4.5)

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Statutory income tax (benefit) provision	$ (6.4)	$ (2.1)	$ (13.5)	$ (20.7)
Income tax (benefit) provision	0.5	(9.8)	2.4	(12.2)
Increase in valuation allowance	7.9		15.5	2.9
Income tax expense related to non-deductible share-based compensation		$ (4.8)		7.2
Income tax expense related to termination of Bain's management agreement				3.3
Effective income tax rate reconciliation, revaluation of deferred tax liabilities, amount				$ (4.8)
Tax receivable agreement liability	213.3		213.3		$ 238.1
Tax receivable agreement liability, current	1.3		1.3		0
Tax receivable agreement liability, noncurrent	$ 212		$ 212		$ 238.1
LIBOR
Income Tax Contingency [Line Items]
TRA interest due on past due amounts, basis spread on variable interest rate			3%
TRA interest due on past due amounts, floor interest rate			0.0050

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - Bain - USD ($)		6 Months Ended
	Sep. 06, 2017	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Related Party Transaction [Line Items]
Due to related parties		$ 0		$ 0
Management Fee and Termination Fee
Related Party Transaction [Line Items]
Annual Management Fee	$ 7,500,000
Related party, expense		0	$ 19,400,000
Management Fee and Termination Fee | Bain Capital
Related Party Transaction [Line Items]
Payment to related party	$ 17,500,000
Consulting fees
Related Party Transaction [Line Items]
Related party, expense		$ 0	$ 2,700,000

SHARE-BASED COMPENSATION - Expe

SHARE-BASED COMPENSATION - Expense by location (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 17.7	$ 19.8	$ 32.8	$ 83.3
Cost of sales
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	0.1	1.3	(0.3)	6
Selling, general and administrative expenses
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 17.6	$ 18.5	$ 33.1	$ 77.3

SHARE-BASED COMPENSATION - Ex_2

SHARE-BASED COMPENSATION - Expense by award type (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 17.7	$ 19.8	$ 32.8	$ 83.3
Management equity incentive plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	0	0	0	37.5
Restricted shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	11.6	11.2	23	11.2
Restricted share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	3.9	4.5	6.6	4.5
Performance share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	0.9	0	1.8	0
Share options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	0.3	0	0.5	0
Cash-settled long-term incentive plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	0.8	2.5	1.3	28.5
Cash-settled restricted share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 0.2	$ 1.6	$ (0.4)	$ 1.6

SHARE-BASED COMPENSATION - Shar

SHARE-BASED COMPENSATION - Shares Granted (Details)	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share options granted (shares)	491,555
Weighted average grant date fair value of share options granted (usd per share) | $ / shares	$ 10.71
Number of awards and share options granted (in shares)	2,367,382
Restricted share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards granted (shares)	971,836
Weighted average grant date fair value of awards granted (usd per share) | $ / shares	$ 10.31
Performance share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards granted (shares)	903,991
Weighted average grant date fair value of awards granted (usd per share) | $ / shares	$ 11.38

RESTRUCTURING AND EXIT ACTIVI_3

RESTRUCTURING AND EXIT ACTIVITIES - Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Restructuring and Related Activities [Abstract]
Expected total restructuring expenses	$ 58		$ 58
Total restructuring expenses charged over life of project	33		33
Business exit costs			25.4
Remaining restructuring costs	25		25
Restructuring Cost and Reserve [Line Items]
Employee termination benefits	18.4	$ 5.4	28.2	$ 8
Provision for lease receivables
Restructuring Cost and Reserve [Line Items]
Employee termination benefits	(0.3)	0	(1.8)	0
Facilities
Restructuring Cost and Reserve [Line Items]
Employee termination benefits	17.1	0	25.4	0
Employee termination benefits
Restructuring Cost and Reserve [Line Items]
Employee termination benefits	1.4	2.1	3.2	2.6
Other
Restructuring Cost and Reserve [Line Items]
Employee termination benefits	$ 0.2	$ 3.3	$ 1.4	$ 5.4

RESTRUCTURING AND EXIT ACTIVI_4

RESTRUCTURING AND EXIT ACTIVITIES - Accrual (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Restructuring Reserve [Roll Forward]
Balance as of December 31, 2021	$ 33
Accrual and accrual adjustments	28.2
Cash payments during period	(31.9)
Balance as of June 30, 2022	29.3
Provision for Lease Receivables
Restructuring Reserve [Roll Forward]
Balance as of December 31, 2021	15.7
Accrual and accrual adjustments	(1.8)
Cash payments during period	0
Balance as of June 30, 2022	13.9
Facilities
Restructuring Reserve [Roll Forward]
Balance as of December 31, 2021	0.6
Accrual and accrual adjustments	25.4
Cash payments during period	(26)
Balance as of June 30, 2022	0
Employee Termination Benefits and Other
Restructuring Reserve [Roll Forward]
Balance as of December 31, 2021	16.7
Accrual and accrual adjustments	4.6
Cash payments during period	(5.9)
Balance as of June 30, 2022	$ 15.4

RESTRUCTURING AND EXIT ACTIVI_5

RESTRUCTURING AND EXIT ACTIVITIES - Restructuring charges by segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Restructuring Cost and Reserve [Line Items]
Employee termination benefits	$ 18.4	$ 5.4	$ 28.2	$ 8
Operating segments | Institutional
Restructuring Cost and Reserve [Line Items]
Employee termination benefits	18.5	6.7	28.1	6.7
Operating segments | Food & Beverage
Restructuring Cost and Reserve [Line Items]
Employee termination benefits	0	0.1	0.4	0.9
Corporate
Restructuring Cost and Reserve [Line Items]
Employee termination benefits	$ (0.1)	$ (1.4)	$ (0.3)	$ 0.4

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	$ 775	$ 515.6	$ 785.6	$ (508.6)
Other comprehensive income before reclassifications			(51.4)	63.9
Amounts reclassified from AOCI to net income			37.5	(4.5)
Other comprehensive income (loss)	(27.3)	22.8	(13.9)	59.4
Balance	730.3	624.2	730.3	624.2
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	(143.6)	(176.1)	(157)	(212.7)
Balance	(170.9)	(153.3)	(170.9)	(153.3)
Unrecognized Pension Items
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance			(6.6)	(42.6)
Other comprehensive income before reclassifications			(0.8)	0
Amounts reclassified from AOCI to net income			0	0
Other comprehensive income (loss)			(0.8)	0
Balance	(7.4)	(42.6)	(7.4)	(42.6)
Hedging Activities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance			(2.7)	(16)
Other comprehensive income before reclassifications			(5.3)	9.6
Amounts reclassified from AOCI to net income			37.5	(4.5)
Other comprehensive income (loss)			32.2	5.1
Balance	29.5	(10.9)	29.5	(10.9)
Cumulative Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance			(147.7)	(154.1)
Other comprehensive income before reclassifications			(45.3)	54.3
Amounts reclassified from AOCI to net income			0	0
Other comprehensive income (loss)			(45.3)	54.3
Balance	$ (193)	$ (99.8)	$ (193)	$ (99.8)

SEGMENTS - Net sales and Adjust

SEGMENTS - Net sales and Adjusted EBITDA (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) segment	Jun. 30, 2021 USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment			2
Segment Reporting Information [Line Items]
Net sales	$ 715.3	$ 650.1	$ 1,375.3	$ 1,281.6
Adjusted EBITDA for reportable segments	98	113.2	173.1	216.2
Institutional
Segment Reporting Information [Line Items]
Net sales	509.6	476.4	981.8	944.3
Adjusted EBITDA for reportable segments	74.5	78.1	127.5	149.2
Food & Beverage
Segment Reporting Information [Line Items]
Net sales	205.7	173.7	393.5	337.3
Adjusted EBITDA for reportable segments	$ 23.5	$ 35.1	$ 45.6	$ 67

SEGMENTS - Reconciliation of Ad

SEGMENTS - Reconciliation of Adjusted EBITDA (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
	Sep. 06, 2017	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Adjusted EBITDA for reportable segments		$ 98	$ 113.2	$ 173.1	$ 216.2
Interest expense		(27)	(27.9)	(57.3)	(71.6)
Interest income		0.7	1.2	1.4	2.1
Amortization expense of intangible assets		(22.8)	(24.1)	(47)	(48.4)
Depreciation expense included in cost of sales		(20.9)	(20.8)	(41.5)	(41.6)
Depreciation expense included in selling, general and administrative expenses		(2.8)	(2)	(5.4)	(4)
Transition and integration costs		(9.1)	(6.9)	(13.6)	(20.2)
Restructuring and exit costs		(18.4)	(5.4)	(28.2)	(8)
Foreign currency (gain) loss related to hyperinflationary subsidiaries		1.3	(2.2)	1.6	(0.2)
Adjustment for tax indemnification asset		(0.5)	(1.3)	(0.4)	(1.3)
Bain Capital management fee		0	0	0	(19.4)
Non-cash pension and other post-employment benefit plan		3.4	3.9	7	7.7
Unrealized foreign exchange (gain) loss		4.2	(1.7)	5.3	(7.6)
Factoring and securitization fees		(1.3)	(1.2)	(2.2)	(2.2)
Share-based compensation		(17.7)	(19.8)	(32.8)	(83.3)
Tax receivable agreement adjustments		6.6	(4.1)	13	(4.1)
COVID-19 inventory charges		(17.4)	0	(17.4)	0
Other items		(0.4)	(0.1)	(0.8)	(1.1)
Loss before income tax provision (benefit)		(33.7)	(11.1)	(70.9)	(109.2)
Bain Capital | Management Fee and Termination Fee | Bain
Segment Reporting Information [Line Items]
Payment to related party	$ 17.5
Operating segments
Segment Reporting Information [Line Items]
Adjusted EBITDA for reportable segments		98	113.2	173.1	216.2
Corporate
Segment Reporting Information [Line Items]
Corporate costs		(9.6)	(11.9)	(24.4)	(22.2)
Restructuring and exit costs		0.1	1.4	0.3	(0.4)
Segment reconciling items
Segment Reporting Information [Line Items]
Adjustment for tax indemnification asset		(0.5)	(1.3)	(0.4)	(1.3)
Acquisition accounting adjustments		0	0	(1.3)	0
Tax receivable agreement adjustments		$ 6.6	$ (4.1)	$ 13	$ (4.1)

SEGMENTS - Net sales by geograp

SEGMENTS - Net sales by geographic region (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 715.3	$ 650.1	$ 1,375.3	$ 1,281.6
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	324.1	294	616.7	528
North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	177	174.1	348.2	395
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	142	122.2	267.7	269.9
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	87	81	172.9	162.6
Middle East & Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	70.8	55	132.3	107.9
Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 56.4	$ 46	$ 105.2	$ 88.1

EARNINGS (LOSS) PER SHARE (Deta

EARNINGS (LOSS) PER SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Net income (loss) attributable to common shareholders, basic	$ (34.2)	$ (1.3)	$ (73.3)	$ (97)
Net income (loss) attributable to common shareholders, diluted	$ (34.2)	$ (1.3)	$ (73.3)	$ (97)
Weighted average shares outstanding, basic (in shares)	319.8	300.8	319.7	274.2
Dilutive securities (in shares)	0	0	0	0
Denominator for earnings per share - weighted average shares, Diluted (in shares)	319.8	300.8	319.7	274.2
Loss per share, basic (usd per share)	$ (0.11)	$ 0	$ (0.23)	$ (0.35)
Loss per share, diluted (usd per share)	$ (0.11)	$ 0	$ (0.23)	$ (0.35)
Adjustment for shares exchanged (in shares)			47.4	47.4