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Derivatives and Hedging Activity (Tables)
 9 Months Ended
Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Notional and Fair Values of Derivative Instruments The notional and fair values of derivatives designated as hedging instruments are as follows at September 30, 2019 and December 31, 2018 (in millions):
                                 
 
 
  
Derivative Assets
 
Derivative Liabilities
 
Instrument
  
Notional
Amount
 
  
Balance Sheet
Classification
 
Fair
Value
 
  
Balance Sheet
Classification
 
Fair
Value
 
At September 30, 2019
 
 
 
  
 
 
 
  
 
 
 
Interest rate contracts
  $
 900.0
   
Other current assets
  $
 —  
    
Accrued compensation and other current liabilities
  $
43.7
 
   
   
   
   
Other noncurrent liabilities
   
33.1
 
Foreign exchange contracts (1)
   
29.7
   
Other current assets
   
1.6
   
Accrued compensation and other current liabilities
   
7.0
 
   
   
Other noncurrent assets
   
5.8
   
Other noncurrent liabilities
   
9.5
 
                                 
Total
  $
929.7
   
  $
7.4
   
  $
93.3
 
                                 
At December 31, 2018
 
 
 
  
 
 
 
  
 
 
 
Interest rate contracts
  $
850.0
   
Other current assets
  $
3.0
   
Accrued compensation and other current liabilities
  $
13.0
 
Foreign exchange contracts (1)
   
51.4
   
Other current assets
   
0.9
   
Accrued compensation and other current liabilities
   
4.9
 
   
   
Other noncurrent assets
   
5.7
   
Other noncurrent liabilities
   
7.9
 
                                 
Total
  $
901.4
   
  $
9.6
   
  $
25.8
 
                                 
 
 
 
 
 
(1) Included within foreign exchange contracts at September 30, 2019 were $304.9 million of call options offset with $304.9 million of put options, and $22.2 million of buy forwards offset with $51.9 million of sell forwards. Included within foreign exchange contracts at December 31, 2018 were $276.4 million of call options offset with $276.4 million of put options, and $23.1 million of buy forwards offset with $72.9 million of sell forwards.
 
Summary of Amounts of Derivative Gains (Losses) Recognized In Accumulated Other Comprehensive Loss
The effect of cash flow hedge accounting on accumulated other comprehensive loss for the three-month and nine-month periods ended September 30, 2019 and 2018 were as follows (in millions):
                                 
Instrument
  
Amount of
Gain (Loss)
Recognized in
Accumulated
Other
Comprehensive
Loss (1)
 
  
Amount of
Gain (Loss)
Reclassified
from
Accumulated
Other
Comprehensive
Income into
Income Loss
into Earnings
 
  
Amount of
Gain (Loss)
Recognized
in Earnings
Related to
Amount
Excluded
from
Effectiveness
Testing
 
  
Statement of Earnings
Classification
 
Three-month period ended September 30, 2019
 
 
 
  
 
 
  
 
 
  
 
 
Interest rate contracts
  $
  (28.0
 )   $
  (0.3
 )   $
  —  
      
Interest expense
 
Foreign exchange contracts
   
(6.0
 )    
(0.2
 )    
(0.2
 )    
Commission revenue
 
   
     
(0.4
 )    
0.3
     
Compensation expense
 
   
     
(0.2
 )    
0.2
     
Operating expense
 
                                 
Total
  $
  (34.0
 )   $
  (1.1
 )   $
0.3
     
 
                                 
Three-month period ended September 30, 2018
 
 
 
  
 
 
  
 
 
  
 
 
Interest rate contracts
  $
7.6
    $
0.3
     
     
Interest expense
 
Foreign exchange contracts
   
(3.2
 )    
0.4
     
     
Commission revenue
 
   
     
0.2
     
     
Compensation expense
 
   
     
0.2
     
     
Operating expense
 
                                 
Total
  $
4.4
    $
1.1
     
     
 
                                 
Nine-month period ended September 30, 2019
 
 
 
  
 
 
  
 
 
  
 
 
Interest rate contracts
  $
(74.7
 )   $
(0.9
 )   $
—  
      
Interest expense
 
Foreign exchange contracts
   
(5.9
 )    
(0.4
 )    
(0.6
 )    
Commission revenue
 
   
     
(1.0
 )    
1.0
     
Compensation expense
 
   
     
(0.7
 )    
0.7
     
Operating expense
 
                                 
Total
  $
  (80.6
 )   $
  (3.0
 )   $
1.1
     
 
                                 
Nine-month period ended September 30, 2018
 
 
 
  
 
 
  
 
 
  
 
 
Interest rate contracts
  $
13.5
    $
0.8
     
     
Interest expense
 
Foreign exchange contracts
   
(9.3
 )    
1.5
     
     
Commission revenue
 
   
     
1.1
     
     
Compensation expense
 
   
     
0.8
     
     
Operating expense
 
                                 
Total
  $
4.2
    $
4.2
     
     
 
                                 
 
 
 
 
 
(1) For the three-month and nine-month periods ended September 30, 2019, the amounts excluded from the assessment of hedge effectiveness for our foreign exchange contracts recognized in accumulated other comprehensive loss were losses of zero and $0.3 million, respectively.