Derivatives and Hedging Activity (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2017 and December 31, 2016 (in millions):


	Notional Amount				Derivative Assets (1)				Derivative Liabilities (2)
	Sept 30, 2017		Dec 31, 2016		Sept 30, 2017		Dec 31, 2016		Sept 30, 2017		Dec 31, 2016

Derivatives accounted for as hedges:
Interest rate contracts	$	200.0	$	200.0	$	1.6	$	11.4	$	0.1	$	—
Foreign exchange contracts (3)		6.8		4.1		6.3		2.1		10.3		17.5

Total	$	206.8	$	204.1	$	7.9	$	13.5	$	10.4	$	17.5

(1)	Included within other current assets, $5.0 million and $12.5 million at September 30, 2017 and December 31, 2016, respectively, and other noncurrent assets, $2.9 million and $1.0 million at September 30, 2017 and December 31, 2016, respectively.

(2)	Included within other current liabilities, $9.0 million and $11.8 million at September 30, 2017 and December 31, 2016, respectively, and other noncurrent liabilities, $1.5 million and $5.7 million at September 30, 2017 and December 31, 2016, respectively.

(3)

Included within foreign exchange contracts at September 30, 2017 were $135.8 million of call options offset with $134.2 million of put options, and $54.9 million of buy forwards offset with $41.0 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 for the nine-month periods ended September 30, 2017 and 2016 were as follows (in millions):


	Commission			Compensation		Operating		Interest
	Revenue			Expense		Expense		Expense			Total
September 30, 2017
Cash flow hedges:
Interest rate contracts	$	—		$	—	$	—	$	(1.6	)	$	(1.6	)
Foreign exchange contracts		7.9			2.3		1.6		—			11.8

Total	$	7.9		$	2.3	$	1.6	$	(1.6	)	$	10.2


September 30, 2016
Cash flow hedges:
Interest rate contracts	$	—		$	—	$	—	$	(3.3	)	$	(3.3	)
Foreign exchange contracts		(17.3	)		0.7		0.5		—			(16.1	)

Total	$	(17.3	)	$	0.7	$	0.5	$	(3.3	)	$	(19.4	)

The amounts of derivative gains (losses) reclassified from accumulated other comprehensive loss into income (effective portion) for the nine-month periods ended September 30, 2017 and 2016 were as follows (in millions):


	Commission			Compensation		Operating		Interest
	Revenue			Expense		Expense		Expense		Total
September 30, 2017
Cash flow hedges:
Interest rate contracts	$	—		$	—	$	—	$	—	$	—
Foreign exchange contracts		(7.6	)		1.1		0.8		—		(5.7	)

Total	$	(7.6	)	$	1.1	$	0.8	$	—	$	(5.7	)


September 30, 2016
Cash flow hedges:
Interest rate contracts	$	—		$	—	$	—	$	—	$	—
Foreign exchange contracts		(5.7	)		0.3		0.2		—		(5.2	)

Total	$	(5.7	)	$	0.3	$	0.2	$	—	$	(5.2	)