Derivatives and Hedging Activity (Tables)

3 Months Ended

Mar. 31, 2018

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, 2018 and December 31, 2017 (in millions):


	Notional Amount				Derivative Assets (1)				Derivative Liabilities (2)
	March 31, 2018		Dec 31, 2017		March 31, 2018		Dec 31, 2017		March 31, 2018		Dec 31, 2017

Derivatives accounted for as hedges:
Interest rate contracts	$	275.0	$	200.0	$	6.4	$	2.2	$	—	$	—
Foreign exchange contracts (3)		38.5		18.7		9.4		8.1		2.0		2.9

Total	$	313.5	$	218.7	$	15.8	$	10.3	$	2.0	$	2.9

(1)	Included within other current assets, $12.3 million and $7.7 million at March 31, 2018 and December 31, 2017, respectively, and other noncurrent assets, $3.5 million and $2.7 million at March 31, 2018 and December 31, 2017, respectively.

(2)	Included within other current liabilities, $0.7 million and $1.6 million at March 31, 2018 and December 31, 2017, respectively, and other noncurrent liabilities, $1.3 million and $1.3 million at March 31, 2018 and December 31, 2017, respectively.

(3)

Included within foreign exchange contracts at March 31, 2018 were $128.3 million of call options offset with $128.3 million of put options, and $26.7 million of buy forwards. Included within foreign exchange contracts at December 31, 2017 were $141.0 million of call options offset with $141.0 million of put options, and $13.3 million of buy forwards offset with $31.0 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 three-month periods ended March 31, 2018 and 2017 were as follows (in millions):


	Commission		Compensation			Operating			Interest
	Revenue		Expense			Expense			Expense		Total
March 31, 2018
Cash flow hedges:
Interest rate contracts	$	—	$	—		$	—		$	4.2	$	4.2
Foreign exchange contracts		4.7		(0.2	)		(0.2	)		—		4.3

Total	$	4.7	$	(0.2	)	$	(0.2	)	$	4.2	$	8.5


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

The amounts of derivative gains (losses) reclassified from accumulated other comprehensive loss into income (effective portion) for the three-month periods ended March 31, 2018 and 2017 were as follows (in millions):


	Commission			Compensation		Operating		Interest
	Revenue			Expense		Expense		Expense		Total
March 31, 2018
Cash flow hedges:
Interest rate contracts	$	—		$	—	$	—	$	0.2	$	0.2
Foreign exchange contracts		0.7			0.5		0.4		—		1.6

Total	$	0.7		$	0.5	$	0.4	$	0.2	$	1.8


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	)