XML 46 R33.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Financial Instruments (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Price Risk Derivatives |
| Commodity derivative contracts
Commodity | Volume hedged June 30, 2017 |  | Volume hedged December 31, 2016 |  | Units of measure |  | Duration
Copper | 100.0 |  |  | 213.8 |  |  | Metric Tons |  | Dec -17
Notional Amounts of Outstanding Derivative Positions |
Foreign currency derivatives (in millions)
Functional currency |  | Traded currency |  | Notional in traded currency June 30, 2017 |  | Notional in traded currency December 31, 2016 |  | Duration
Brazilian real |  | Euro |  | 1.9 |  |  | — |  |  | Jan - 18
Chinese renminbi |  | US dollar |  | 14.7 |  |  | 33.5 |  |  | Dec - 17
Chinese renminbi |  | Euro |  | 43.8 |  |  | — |  |  | Jun - 18
Euro |  | Chinese renminbi |  | 63.9 |  |  | — |  |  | Dec - 17
Euro |  | British pound |  | 2.0 |  |  | 4.2 |  |  | Dec - 17
Euro |  | Japanese yen |  | 1,161.7 |  |  | 1,004.8 |  |  | Dec - 17
Euro |  | Polish zloty |  | 67.1 |  |  | 18.8 |  |  | Dec - 17
Euro |  | Swedish krona |  | 267.4 |  |  | — |  |  | May - 18
Euro |  | US dollar |  | 20.3 |  |  | 35.3 |  |  | Dec - 17
Japanese yen |  | Chinese renminbi |  | 35.0 |  |  | 68.7 |  |  | Dec - 17
Japanese yen |  | Korean won |  | 2,850.5 |  |  | 5,689.2 |  |  | Dec - 17
Japanese yen |  | US dollar |  | 1.0 |  |  | 2.0 |  |  | Dec - 17
Korean won |  | Euro |  | 6.5 |  |  | — |  |  | Dec - 17
Korean won |  | Japanese yen |  | 427.9 |  |  | 539.9 |  |  | Dec - 17
Korean won |  | US dollar |  | 20.0 |  |  | 14.2 |  |  | Dec - 17
Mexican peso |  | US dollar |  | 7.9 |  |  | 10.5 |  |  | Dec - 17
Swedish krona |  | Euro |  | 25.1 |  |  | 48.2 |  |  | Dec - 17
US dollar |  | Euro |  | 100.0 |  |  | — |  |  | Dec - 17
Derivatives Instruments in Statements of Financial Position |
|  | Assets |  | Liabilities
(in millions) |  | Location |  | June 30, 2017 |  | December 31, 2016 |  | Location |  | June 30, 2017 |  | December 31, 2016
Foreign currency |  | Prepayments and other current assets |  | $ | 4.6 |  |  | $ | 7.2 |  |  | Accounts payable and accrued expenses |  | $ | 8.6 |  |  | $ | 1.1 |
Commodity |  | Prepayments and other current assets |  | $ | 0.1 |  |  | $ | 0.1 |  |  | Accounts payable and accrued expenses |  | $ | — |  |  | $ | — |
Deferred Losses Reported In Accumulated Other Comprehensive Income Loss |
(in millions) |  | Deferred gain (loss) in AOCI at |  | Gain (loss) expected to be reclassified to income in one year or less
Contract Type |  | June 30, 2017 |  | December 31, 2016 |
Foreign currency |  | $ | 1.4 |  |  | $ | 5.6 |  |  | $ | 1.4 |
Commodity |  | 0.1 |  |  | (0.1 | ) |  | 0.1 |
Net investment hedges |  | (22.2 | ) |  | 29.5 |  |  | — |
Total |  | $ | (20.7 | ) |  | $ | 35.0 |  |  | $ | 1.5 |
Derivative Instruments, Gain (Loss) |
|  |  |  | Gain (loss) reclassified from AOCI to income (effective portion) |  |  |  | Gain (loss) recognized in income (ineffective portion)
(in millions) |  |  |  | Three Months Ended |  |  |  | Three Months Ended
Contract Type |  | Location |  | June 30, 2017 |  | June 30, 2016 |  | Location |  | June 30, 2017 |  | June 30, 2016
Foreign currency |  | Sales |  | $ | 0.9 |  |  | $ | 0.2 |  |  | SG&A expense |  | $ | (0.1 | ) |  | $ | — |
Foreign currency |  | Cost of goods sold |  | $ | 0.5 |  |  | $ | 0.3 |  |  | SG&A expense |  | $ | — |  |  | $ | (0.1 | )
Commodity |  | Cost of goods sold |  | $ | 0.1 |  |  | $ | (1.0 | ) |  | Cost of goods sold |  | $ | — |  |  | $ | — |
|  |  |  | Gain (loss) reclassified from AOCI to income (effective portion) |  |  |  | Gain (loss) recognized in income (ineffective portion)
(in millions) |  |  |  | Six Months Ended |  |  |  | Six Months Ended
Contract Type |  | Location |  | June 30, 2017 |  | June 30, 2016 |  | Location |  | June 30, 2017 |  | June 30, 2016
Foreign currency |  | Sales |  | $ | 2.0 |  |  | $ | 0.2 |  |  | SG&A expense |  | $ | — |  |  | $ | — |
Foreign currency |  | Cost of goods sold |  | $ | 1.3 |  |  | $ | (0.2 | ) |  | SG&A expense |  | $ | — |  |  | $ | 0.1 |
Commodity |  | Cost of goods sold |  | $ | 0.3 |  |  | $ | (1.1 | ) |  | Cost of goods sold |  | $ | — |  |  | $ | — |
Fair Value Hedges
(in millions) |  |  |  | Three Months Ended June 30, 2017 |  | Three Months Ended June 30, 2016
Contract Type |  | Location |  | Gain (loss) on swaps |  | Gain (loss) on borrowings |  | Gain (loss) on swaps |  | Gain (loss) on borrowings
Interest rate swap |  | Interest expense and finance charges |  | $ | — |  |  | $ | — |  |  | $ | 2.6 |  |  | $ | (2.6 | )
(in millions) |  |  |  | Six Months Ended June 30, 2017 |  | Six Months Ended June 30, 2016
Contract Type |  | Location |  | Gain (loss) on swaps |  | Gain (loss) on borrowings |  | Gain (loss) on swaps |  | Gain (loss) on borrowings
Interest rate swap |  | Interest expense and finance charges |  | $ | — |  |  | $ | — |  |  | $ | 11.3 |  |  | $ | (11.3 | )
Derivatives not designated as hedges are used to hedge remeasurement exposures of monetary assets and liabilities designated in currencies other than the operating units’ functional currency. These derivatives resulted in the following gains and losses recorded in income:
|  |  |  | Gain (loss) recognized in income |  | Gain (loss) recognized in income
(in millions) |  |  |  | Three Months Ended |  | Six Months Ended
Contract Type |  | Location |  | June 30, 2017 |  | June 30, 2016 |  | June 30, 2017 |  | June 30, 2016
Foreign currency |  | SG&A expense |  | $ | 1.1 |  |  | $ | — |  |  | $ | 0.1 |  |  | $ | — |

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 the effective portion of gains and losses on derivative instruments (and nonderivative instruments) designated and qualifying in cash flow hedges recorded in accumulated other comprehensive income (loss) during the term of the hedging relationship and reclassified into earnings during the current period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=84234895&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 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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5618551-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5579245-113959 + Details
Name: | us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of price risk derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfPriceRiskDerivativesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration