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v3.20.1

FAIR VALUE MEASUREMENT (Tables) | 12 Months Ended
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Dec. 31, 2019
FAIR VALUE MEASUREMENT |
Assets (liabilities) measured at fair value on a recurring basis |
|  |  |  |  |  |  |  |  |  |  | Aggregate
|  | Level 1 |  | Level 2 |  | Level 3 |  | Fair Value
Equity investments at FVOCI |  | $ | 126.2 |  | $ | — |  | $ | — |  | $ | 126.2
Derivative contracts: |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward and collar contracts |  |  | — |  |  | 3.9 |  |  | — |  |  | 3.9
Energy swap contracts |  |  | — |  |  | 4.0 |  |  | — |  |  | 4.0
Total return swap contracts |  |  | — |  |  | (1.3) |  |  | — |  |  | (1.3)
|  | $ | 126.2 |  | $ | 6.6 |  | $ | — |  | $ | 132.8
Summary of information about derivative contracts outstanding |
|  | December 31, 2019 |  | December 31, 2018
|  | Asset / (Liability) |  |  |  |  | Asset / (Liability) |  |  |
|  | Fair Value |  | AOCI |  | Fair Value |  | AOCI
Currency contracts |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward and collar contracts (a) (i) |  | $ | 3.9 |  | $ | 2.6 |  | $ | (21.8) |  | $ | (15.8)
Commodity contracts |  |  |  |  |  |  |  |  |  |  |  |
Energy swap contracts (b) (ii) |  |  | 4.0 |  |  | 3.2 |  |  | (8.6) |  |  | (7.5)
Other contracts |  |  |  |  |  |  |  |  |  |  |  |
Total return swap contracts (iii) |  |  | (1.3) |  |  | — |  |  | 3.2 |  |  | —
Total all contracts |  | $ | 6.6 |  | $ | 5.8 |  | $ | (27.2) |  | $ | (23.3)
Unrealized fair value of derivative assets |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 7.2 |  |  |  |  | $ | 3.8 |  |  |
Non-current |  |  | 4.5 |  |  |  |  |  | 0.8 |  |  |
|  | $ | 11.7 |  |  |  |  | $ | 4.6 |  |  |
Unrealized fair value of derivative liabilities |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | (4.3) |  |  |  |  | $ | (22.2) |  |  |
Non-current |  |  | (0.8) |  |  |  |  |  | (9.6) |  |  |
|  | $ | (5.1) |  |  |  |  | $ | (31.8) |  |  |
Total net fair value |  | $ | 6.6 |  |  |  |  | $ | (27.2) |  |  |
| (a) |  | Of the total amount recorded in AOCI at December 31, 2019, $0.7 million will be reclassified to net earnings within the next 12 months as a result of settling the contracts.
| (b) |  | Of the total amount recorded in AOCI at December 31, 2019, $2.5 million will be reclassified to net earnings within the next 12 months as a result of settling the contracts.
Summary of foreign currency forward and collar contracts outstanding |
Foreign currency |  | 2020 |  | 2021 |  | 2022
Brazilian real zero cost collars (in millions of U.S. dollars) |  | $ | 116.0 |  | $ | 64.0 |  | $ | 13.2
Average put strike (Brazilian real) |  |  | 3.76 |  |  | 4.11 |  |  | 4.20
Average call strike (Brazilian real) |  |  | 4.23 |  |  | 4.71 |  |  | 4.78
Canadian dollar forward buy contracts (in millions of U.S. dollars) |  | $ | 31.2 |  | $ | 12.0 |  | $ | —
Average rate (Canadian dollar) |  |  | 1.32 |  |  | 1.33 |  |  | —
Russian rouble zero cost collars (in millions of U.S. dollars) |  | $ | 47.7 |  | $ | 25.2 |  | $ | —
Average put strike (Russian rouble) |  |  | 65.3 |  |  | 65.8 |  |  | —
Average call strike (Russian rouble) |  |  | 77.6 |  |  | 84.2 |  |  | —
Summary of energy swap contracts outstanding | The following table provides a summary of energy swap contracts outstanding at December 31, 2019 and their respective maturities:
Energy |  | 2020 |  | 2021 |  | 2022
WTI oil swap contracts (barrels) |  |  | 946,800 |  |  | 609,000 |  |  | 74,100
Average price |  | $ | 54.43 |  | $ | 52.79 |  | $ | 50.21

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