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Derivatives and Hedging Activity (Tables)

12 Months Ended

Dec. 31, 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 December 31, 2019 and 2018 (in millions):

						Derivative Assets						Derivative Liabilities
Instrument		Notional Amount				Balance Sheet Classification		Fair Value				Balance Sheet Classification		Fair Value
At December 31, 2019
Interest rate contracts		$	800.0			Other current assets		$	2.8			Accrued compensation and		$	25.0
						Other noncurrent assets			5.4			other current liabilities
												Other noncurrent liabilities			23.0
Foreign exchange contracts (1)			31.7			Other current assets			4.5			Accrued compensation and			1.8
												other current liabilities
						Other noncurrent assets			8.5			Other noncurrent liabilities			2.6
Total		$	831.7					$	21.2					$	52.4
At December 31, 2018
Interest rate contracts		$	850.0			Other current assets		$	3.0			Accrued compensation and		$	13.0
												other current liabilities
Foreign exchange contracts (1)			51.4			Other current assets			0.9			Accrued compensation and			4.9
												other current liabilities
						Other noncurrent assets			5.7			Other noncurrent liabilities			7.9
Total		$	901.4					$	9.6					$	25.8

(1) Included within foreign exchange contracts at December 31, 2019 were $342.0 million of call options offset with $342.0 million of put options, and $12.1 million of buy forwards offset with $43.8 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 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 Loss into Earnings				Amount of Gain (Loss) Recognized in Earnings Related to Amount Excluded from Effectiveness Testing				Statement of Earnings Classification
Year ended December 31, 2019
Interest rate contracts		$	(47.0	)		$	(1.2	)		$	—			Interest expense
Foreign exchange contracts			9.9				(1.6	)			(0.8	)		Commission revenue
							(1.4	)			1.2			Compensation expense
							(1.0	)			0.9			Operating expense
Total		$	(37.1	)		$	(5.2	)		$	1.3
Year ended December 31, 2018
Interest rate contracts		$	(9.3	)		$	1.1			$	—			Interest expense
Foreign exchange contracts			(6.4	)			2.3				—			Commission revenue
							1.3				—			Compensation expense
							1.0				—			Operating expense
Total		$	(15.7	)		$	5.7			$	—

(1) During 2019, the amount excluded from the assessment of hedge effectiveness for our foreign exchange contracts recognized in accumulated other comprehensive loss were a loss of $0.2 million.

We estimate that approximately $1.8 million of pretax income currently included within accumulated other comprehensive loss will be reclassified into earnings in the next twelve months.

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- Definition

Summary of notional and fair values of derivative instruments.

+ References

No definition available.

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- Definition

Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624181-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959

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