Financial Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Values of Derivative Instruments Included on Consolidated Balance Sheet

The following table presents the fair values of derivative instruments included on the Condensed Consolidated Balance Sheet:



	Derivative Assets					Derivative Liabilities
In millions	Balance Sheet Classification	September 30, 2020		December 31, 2019		Balance Sheet Classification	September 30, 2020			December 31, 2019
Derivatives designated as hedging instruments
Foreign currency	Prepaid expenses and other current assets	$	2.1	$	10.0	Accrued payroll and other liabilities	$	(25.8	)	$	(5.2	)
Interest rate	Prepaid expenses and other current assets					Accrued payroll and other liabilities
Foreign currency	Miscellaneous other assets	15.0		9.5		Other long-term liabilities	(6.3		)	(1.2		)
Interest rate	Miscellaneous other assets	37.9		12.1		Other long-term liabilities
Total derivatives designated as hedging instruments		$	55.0	$	31.6		$	(32.1	)	$	(6.4	)
Derivatives not designated as hedging instruments
Equity	Prepaid expenses and other current assets	$	190.2	$	1.6	Accrued payroll and other liabilities	$	(5.6	)	$	(0.1	)
Foreign currency	Prepaid expenses and other current assets	—		12.4		Accrued payroll and other liabilities	(6.9		)	(4.8		)
Equity	Miscellaneous other assets	—		179.1
Total derivatives not designated as hedging instruments		$	190.2	$	193.1		$	(12.5	)	$	(4.9	)
Total derivatives		$	245.2	$	224.7		$	(44.6	)	$	(11.3	)

Derivatives Pretax Amounts Affecting Income and Other Comprehensive Income

The following table presents the pre-tax amounts from derivative instruments affecting income and AOCI for the nine months ended September 30, 2020 and 2019, respectively:



	Location of Gain or Loss Recognized in Income on Derivative	Gain (Loss) Recognized in AOCI					Gain (Loss) Reclassified into Income from AOCI						Gain (Loss) Recognized in Income on Derivative


In millions		2020			2019		2020			2019			2020			2019
Foreign currency	Nonoperating income/expense	$	(18.8	)	$	43.5	$	11.3		$	40.3
Interest rate	Interest expense	(90.8		)			(3.8		)	(1.0		)
Cash flow hedges		$	(109.6	)	$	43.5	$	7.5		$	39.3

Foreign currency denominated debt	Nonoperating income/expense	$	(396.8	)	$	766.6	$	17.6
Foreign currency derivatives	Nonoperating income/expense	2.1			11.9
Foreign currency derivatives⁽¹⁾	Interest expense												$	11.0		$	8.0
Net investment hedges		$	(394.7	)	$	778.5	$	17.6					$	11.0		$	8.0

Foreign currency	Nonoperating income/expense												$	(17.2	)	$	5.2
Equity	Selling, general & administrative expenses												27.2			70.5
Equity	Other operating income/expense, net												(5.6		)
Undesignated derivatives													$	4.4		$	75.7
⁽¹⁾The amount of gain (loss) recognized in income related to components excluded from effectiveness testing.