XML 58 R39.htm IDEA: XBRL DOCUMENT v3.20.4

DERIVATIVES AND HEDGING TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2020

DERIVATIVES AND HEDGING TRANSACTIONS

Gross fair value of the company's outstanding derivative assets and liabilities

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(millions)

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Derivative Assets

Derivative Liabilities

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December 31

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December 31

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December 31

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December 31

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(millions)

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2020

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2019

2020

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2019

Derivatives designated as hedging instruments

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Foreign currency forward contracts

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$8.1

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$67.4

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$54.3

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$2.1

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Derivatives not designated as hedging instruments

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Foreign currency forward contracts (a)

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7.4

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16.5

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15.6

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7.9

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Gross value of derivatives

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15.5

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83.9

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69.9

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10.0

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Gross amounts offset in the Consolidated Balance Sheet

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(12.3)

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(4.2)

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(12.3)

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(4.2)

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Net value of derivatives

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$3.2

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$79.7

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$57.6

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$5.8

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(a) Foreign currency forward contract derivatives not designated as hedging instruments includes discontinued operations of $1.0 of derivative assets and $0.6 of derivative liabilities as of December 31, 2019.

Summary of notional values of outstanding derivatives

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​	​	​	​	​	​	​	​	​
​	​	Notional Values
​	​	​	December 31	​	​	December 31
(millions)	​		2020	​		2019
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Foreign currency forward contracts (a)	​	​	$ 3,702	​	​	​	$ 4,004	​

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(a) Foreign currency forward contract notional values include discontinued operations of approximately $9 million as of December 31, 2019.

Revaluation gains and losses on euro notes and forward contracts

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(millions)

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2020

2019

2018

Revaluation (losses) gains, net of tax

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($87.7)

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$31.4

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$57.5

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Impact on AOCI and earnings from derivative contracts qualified as cash flow hedges

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2020

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2019

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2018

(millions)

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COS

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SG&A

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Interest

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COS

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SG&A

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Interest

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COS

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SG&A

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Interest

Gain (loss) on derivatives in cash flow hedging relationship:

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Foreign currency forward contracts

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Amount of gain (loss) reclassified from AOCI to income

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$10.1

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($108.3)

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$-

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$15.4

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$39.5

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$-

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($7.7)

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$84.1

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$-

Amount excluded from the assessment of effectiveness recognized in earnings based on changes in fair value

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-

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-

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27.5

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-

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28.7

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-

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-

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37.4

Interest rate swap agreements

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Amount of gain (loss) reclassified from AOCI to income

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-

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-

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(2.4)

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-

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-

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(0.9)

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-

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-

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(5.5)

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Gain (loss) on derivatives in fair value hedging relationship:

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Interest rate swaps

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Hedged items

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-

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-

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0.2

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(4.0)

Derivatives designated as hedging instruments

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-

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(0.2)

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4.0

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Gain (loss) on derivatives not designated as hedging instruments:

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Foreign currency forward contracts

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Amount of gain (loss) recognized in income (a)

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-

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(12.3)

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30.0

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(0.1)

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-

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25.1

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5.3

Total gain (loss) of all derivative instruments

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$10.1

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($120.6)

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$25.1

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$15.4

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$69.5

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$27.7

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($7.7)

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$109.2

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$37.2

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(a) Gain (loss) on derivatives not designated as hedging instruments recognized in income recorded in SG&A includes discontinued operations of $(2.5), $(5.1) and $(8.7) for the years ended December 31, 2020, 2019 and 2018, respectively.

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- References

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- Definition

Tabular disclosure for cash flow hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959

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- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959

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Tabular disclosure for net investment hedges of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959

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Tabular disclosure of the notional amounts of outstanding derivative positions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (d)
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