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v3.21.1

FAIR VALUE MEASUREMENT (Tables) | 12 Months Ended
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Dec. 31, 2020
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 |  | $ | 113.0 |  | $ | — |  | $ | — |  | $ | 113.0
Derivative contracts: |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward and collar contracts |  |  | — |  |  | (4.3) |  |  | — |  |  | (4.3)
Energy swap contracts |  |  | — |  |  | 7.6 |  |  | — |  |  | 7.6
Total return swap contracts |  |  | — |  |  | (11.0) |  |  | — |  |  | (11.0)
|  | $ | 113.0 |  | $ | (7.7) |  | $ | — |  | $ | 105.3
Summary of information about derivative contracts outstanding |
|  | December 31, 2020 |  | December 31, 2019
|  | Asset / (Liability) |  |  |  |  | Asset / (Liability) |  |  |
|  | Fair Value |  | AOCI |  | Fair Value |  | AOCI
Currency contracts |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward and collar contracts (a) (i) |  | $ | (4.3) |  | $ | (2.5) |  | $ | 3.9 |  | $ | 2.6
Commodity contracts |  |  |  |  |  |  |  |  |  |  |  |
Energy swap contracts (b) (ii) |  |  | 7.6 |  |  | 4.7 |  |  | 4.0 |  |  | 3.2
Other contracts |  |  |  |  |  |  |  |  |  |  |  |
Total return swap contracts (iii) |  |  | (11.0) |  |  | — |  |  | (1.3) |  |  | —
Total all contracts |  | $ | (7.7) |  | $ | 2.2 |  | $ | 6.6 |  | $ | 5.8
Unrealized fair value of derivative assets |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 6.5 |  |  |  |  | $ | 7.2 |  |  |
Non-current |  |  | 10.5 |  |  |  |  |  | 4.5 |  |  |
|  | $ | 17.0 |  |  |  |  | $ | 11.7 |  |  |
Unrealized fair value of derivative liabilities |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | (21.3) |  |  |  |  | $ | (4.3) |  |  |
Non-current |  |  | (3.4) |  |  |  |  |  | (0.8) |  |  |
|  | $ | (24.7) |  |  |  |  | $ | (5.1) |  |  |
Total net fair value |  | $ | (7.7) |  |  |  |  | $ | 6.6 |  |  |
| (a) |  | Of the total amount recorded in AOCI at December 31, 2020, $(4.1) million will be reclassified out of AOCI within the next 12 months as a result of settling the contracts.
| (b) |  | Of the total amount recorded in AOCI at December 31, 2020, $(0.5) million will be reclassified out of AOCI within the next 12 months as a result of settling the contracts.
Summary of foreign currency forward and collar contracts outstanding |
Foreign currency |  | 2021 |  | 2022 |  | 2023
Brazilian real zero cost collars (in millions of U.S. dollars) |  | $ | 103.6 |  | $ | 64.8 |  | $ | 43.2
Average put strike (Brazilian real) |  |  | 4.35 |  |  | 4.62 |  |  | 5.00
Average call strike (Brazilian real) |  |  | 5.39 |  |  | 6.56 |  |  | 7.26
Canadian dollar forward buy contracts (in millions of U.S. dollars) |  | $ | 25.2 |  | $ | 12.0 |  | $ | —
Average rate (Canadian dollar) |  |  | 1.37 |  |  | 1.40 |  |  | —
Russian rouble zero cost collars (in millions of U.S. dollars) |  | $ | 51.6 |  | $ | 36.0 |  | $ | 20.4
Average put strike (Russian rouble) |  |  | 70.3 |  |  | 75.0 |  |  | 77.0
Average call strike (Russian rouble) |  |  | 87.8 |  |  | 100.6 |  |  | 97.8
Summary of energy swap contracts outstanding |
Energy |  | 2021 |  | 2022 |  | 2023
WTI oil swap contracts (barrels) |  |  | 1,054,400 |  |  | 822,600 |  |  | 565,200
Average price |  | $ | 47.52 |  | $ | 42.14 |  | $ | 39.58

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