XML 29 R34.htm IDEA: XBRL DOCUMENT
v3.20.1

Derivative Instruments (Tables) | 9 Months Ended
--- | ---
Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Outstanding Commodity Contracts | At March 31, 2020 and June 30, 2019, the Company had the following outstanding commodity contracts that were entered into to hedge forecasted purchases:
|  | March 31, 2020 |  | June 30, 2019
Commodity |  | Volume |  | Volume
Aluminum |  | 39,489 tons |  | 29,342 tons
PET resin |  | 9,166,667 lbs. |  | — lbs.
Schedule of Derivative Liabilities at Fair Value | The following tables provide the location of derivative instruments in the unaudited condensed consolidated balance sheet:
($ in millions) |  | Balance Sheet Location |  | March 31, 2020 |  | June 30, 2019
Assets |  |  |  |  |  |
Derivatives in cash flow hedging relationships: |  |  |  |  |  |
Forward exchange contracts |  | Other current assets |  | $ | 3.3 |  |  | $ | 2.4 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |
Forward exchange contracts |  | Other current assets |  | 8.9 |  |  | 2.7 |
Cross currency interest rate swaps |  | Other current assets |  | 1.5 |  |  | — |
Total current derivative contracts |  |  |  | 13.7 |  |  | 5.1 |
Derivatives in fair value hedging relationships: |  |  |  |  |  |
Interest rate swaps |  | Other non-current assets |  | 35.0 |  |  | 32.8 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |
Forward exchange contracts |  | Other non-current assets |  | — |  |  | 0.4 |
Total non-current derivative contracts |  |  |  | 35.0 |  |  | 33.2 |
Total derivative asset contracts |  |  |  | $ | 48.7 |  |  | $ | 38.3 |
Liabilities |  |  |  |  |  |
Derivatives in cash flow hedging relationships: |  |  |  |  |  |
Commodity contracts |  | Other current liabilities |  | $ | 9.4 |  |  | $ | 4.6 |
Forward exchange contracts |  | Other current liabilities |  | 5.5 |  |  | 1.5 |
Treasury locks |  | Other current liabilities |  | 19.0 |  |  | — |
Derivatives not designated as hedging instruments: |  |  |  |  |  |
Forward exchange contracts |  | Other current liabilities |  | 16.8 |  |  | 7.1 |
Total current derivative contracts |  |  |  | 50.7 |  |  | 13.2 |
Derivatives in cash flow hedging relationships: |  |  |  |  |  |
Forward exchange contracts |  | Other non-current liabilities |  | 0.3 |  |  | 0.3 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |
Forward exchange contracts |  | Other non-current liabilities |  | — |  |  | 0.4 |
Total non-current derivative contracts |  |  |  | 0.3 |  |  | 0.7 |
Total derivative liability contracts |  |  |  | $ | 51.0 |  |  | $ | 13.9 |
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) | The following tables provide the effects of derivative instruments on AOCI and in the unaudited condensed consolidated statement of income:
|  | Location of Gain (Loss) Reclassified from AOCI into Income (Effective Portion) |  | Gain (Loss) Reclassified from AOCI into Income (Effective Portion) |  |  |  |  |  |
|  |  |  | Three Months Ended March 31, |  |  |  | Nine Months Ended March 31, |  |
($ in millions) |  |  |  | 2020 |  | 2019 |  | 2020 |  | 2019
Derivatives in cash flow hedging relationships |  |  |  |  |  |  |  |  |  |
Commodity contracts |  | Cost of sales |  | $ | (0.8) |  |  | $ | (0.7) |  |  | $ | (3.9) |  |  | $ | (0.5) |
Forward exchange contracts |  | Net sales |  | (0.1) |  |  | (0.8) |  |  | (0.9) |  |  | (1.1) |
Forward exchange contracts |  | Cost of sales |  | 0.3 |  |  | 0.3 |  |  | 0.3 |  |  | — |
Total |  |  |  | $ | (0.6) |  |  | $ | (1.2) |  |  | $ | (4.5) |  |  | $ | (1.6) |
Schedule of Derivatives Not Designated as Hedging Instruments |
|  | Location of Gain (Loss) Recognized in the Unaudited Condensed Consolidated Statement of Income |  | Gain (Loss) Recognized in Income for Derivatives Not Designated as Hedging Instruments |  |  |  |  |  |
|  |  |  | Three Months Ended March 31, |  |  |  | Nine Months Ended March 31, |  |
($ in millions) |  |  |  | 2020 |  | 2019 |  | 2020 |  | 2019
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |
Forward exchange contracts |  | Other income, net |  | $ | (3.2) |  |  | $ | (0.8) |  |  | $ | (3.5) |  |  | $ | (0.3) |
Cross currency interest rate swaps |  | Other income, net |  | 1.4 |  |  | 1.1 |  |  | 1.5 |  |  | 1.0 |
Total |  |  |  | $ | (1.8) |  |  | $ | 0.3 |  |  | (2.0) |  |  | 0.7 |
Schedule of Fair Value Hedging Instruments In Condensed Consolidated Statement of Income |
|  | Location of Gain (Loss) Recognized in the Unaudited Condensed Consolidated Statement of Income |  | Gain (Loss) Recognized in Income for Derivatives in Fair Value Hedging Relationships |  |  |  |  |  |
|  |  |  | Three Months Ended March 31, |  |  |  | Nine Months Ended March 31, |  |
($ in millions) |  |  |  | 2020 |  | 2019 |  | 2020 |  | 2019
Derivatives in fair value hedging relationships |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | Interest expense |  | $ | 8.0 |  |  | $ | 2.4 |  |  | $ | 2.2 |  |  | $ | 2.6 |
Total |  |  |  | $ | 8.0 |  |  | $ | 2.4 |  |  | $ | 2.2 |  |  | $ | 2.6 |

X
- Definition [Table Text Block] for Outstanding Commodity Contracts [Table] + References No definition available. + Details
Name: | amcr_OutstandingCommodityContractsTableTextBlock
Namespace Prefix: | amcr_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + 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 (c) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfCashFlowHedgesIncludedInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative liabilities at fair value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for fair value 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 (a) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfFairValueHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument. + 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 (e) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4CC -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL109998890-113959 + Details
Name: | us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration