Derivatives and Hedging Activity (Tables)

3 Months Ended

Mar. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Notional and Fair Values of Derivative Instruments

The notional and fair values of derivative instruments are as follows at March 31, 2017 and December 31, 2016 (in millions):


	Notional Amount				Derivatives Assets (1)				Derivative Liabilities (2)
	March 31, 2017		Dec 31, 2016		March 31, 2017		Dec 31, 2016		March 31, 2017		Dec 31, 2016

Derivatives accounted for as hedges:
Interest rate contracts	$	250.0	$	200.0	$	12.2	$	11.4	$	—	$	—
Foreign exchange contracts (3)		6.2		4.1		5.2		2.1		12.8		17.5

Total	$	256.2	$	204.1	$	17.4	$	13.5	$	12.8	$	17.5

(1)	Included within other current assets, $15.0 million and $12.5 million at March 31, 2017 and December 31, 2016, respectively, and other non-current assets, $2.4 million and $1.0 million at March 31, 2017 and December 31, 2016, respectively.

(2)	Included within other current liabilities, $8.9 million and $11.8 million at March 31, 2017 and December 31, 2016, respectively, and other non-current liabilities, $3.9 million and $5.7 million at March 31, 2017 and December 31, 2016, respectively.

(3)

Included within foreign exchange contracts at March 31, 2017 were $95.5 million of call options offset with $95.5 million of put options, and $46.9 million of buy forwards offset with $53.1 million of sell forwards. Included within foreign exchange contracts at December 31, 2016 were $78.3 million of call options offset with $78.3 million of put options, and $61.6 million of buy forwards offset with $57.5 million of sell forwards.

Summary of Amounts of Derivative Gains (Losses) Recognized In Accumulated Other Comprehensive Loss

The amounts of derivative gains (losses) recognized in accumulated other comprehensive loss were as follows (in millions):


	Commission Revenue			Compensation Expense		Operating Expense		Interest Expense		Total
March 31, 2017
Cash flow hedges:
Interest rate contracts	$	—		$	—	$	—	$	0.8	$	0.8
Foreign exchange contracts		2.4			1.8		1.2		—		5.4

Total	$	2.4		$	1.8	$	1.2	$	0.8	$	6.2


March 31, 2016
Cash flow hedges:
Interest rate contracts	$	—		$	—	$	—	$	1.1	$	1.1
Foreign exchange contracts		(3.4	)		—		—		—		(3.4	)

Total	$	(3.4	)	$	—	$	—	$	1.1	$	(2.3	)

The amounts of derivative gains (losses) reclassified from accumulated other comprehensive loss into income (effective portion) were as follows (in millions):


	Commission Revenue			Compensation Expense		Operating Expense		Interest Expense		Total
March 31, 2017
Cash flow hedges:
Interest rate contracts	$	—		$	—	$	—	$	—	$	—
Foreign exchange contracts		(2.8	)		0.2		0.2		—		(2.4	)

Total	$	(2.8	)	$	0.2	$	0.2	$	—	$	(2.4	)


March 31, 2016
Cash flow hedges:
Interest rate contracts	$	—		$	—	$	—	$	—	$	—
Foreign exchange contracts		(1.2	)		—		—		—		(1.2	)

Total	$	(1.2	)	$	—	$	—	$	—	$	(1.2	)