XML 51 R34.htm IDEA: XBRL DOCUMENT v3.8.0.1
Derivative Instruments and Hedging Activities (Tables)
12 Months Ended
Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Schedule of Derivative Instruments [Table Text Block]
The following table summarizes the notional values and the after-tax impact of changes in the fair value of the instrument designated as a net investment hedge (in millions):
 
Notional Amount as of
 
(Loss) Gain Recognized in Accumulated
Other Comprehensive Loss for the Years Ended
 
December 31, 2017
 
December 31, 2016
 
December 31, 2017
 
December 31, 2016
Foreign currency denominated debt
$
374.2

 
$
329.2

 
$
(45.0
)
 
$
12.7

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]
The following table summarizes the impact that changes in the fair value of derivatives not designated as hedging instruments had on earnings (in millions):
 
 
 
For the Years Ended
 
Classification of
Gain (Loss)
 
December 31, 2017
 
December 31, 2016
 
December 31, 2015
Foreign currency contracts
Other expense, net
 
$
38.3

 
$
(5.7
)
 
$
(67.3
)
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]
The following table summarizes the after-tax impact that changes in the fair value of derivatives designated as cash flow hedges had on accumulated other comprehensive loss and earnings during 2017, 2016 and 2015 (in millions):
 
 
 
Recognized in Earnings
 
Gain (Loss) Recognized in Accumulated
Other Comprehensive Loss
 
Classification of Gain (Loss)
 
Gain (Loss) Reclassified from Accumulated
Other Comprehensive Loss into Income
2017
 
 
 
 
 
Foreign currency contracts(1)
$
2.7

 
Cost of goods sold
 
$
0.4

Interest rate contract
(0.7
)
 
Interest expense, net
 
(2.4
)
         Total
$
2.0

 
 
 
$
(2.0
)
2016
 
 
 
 
 
Foreign currency contracts
$
(2.6
)
 
Cost of goods sold
 
$
1.0

Interest rate contract
(5.1
)
 
Interest expense, net
 
(2.0
)
         Total
$
(7.7
)
 
 
 
$
(1.0
)
2015
 
 
 
 
 
Foreign currency contracts
$
(2.3
)
 
Cost of goods sold
 
$
(2.4
)
Interest rate contract
(2.3
)
 
Interest expense, net
 
(0.3
)
         Total
$
(4.6
)
 
 
 
$
(2.7
)
(1) The outstanding contracts as of December 31, 2017 range in maturity through December 2018.
Summary Of Accumulated Other Comprehensive Loss Related To Derivatives
The following table summarizes the activity in accumulated other comprehensive loss related to the derivatives held by the Company during the years ended December 31, 2017, 2016 and 2015 (in millions):
 
 
Before-Tax
Amount
 
Income
Tax
 
After-Tax
Amount
Accumulated derivative net losses as of December 31, 2014
 
$
(0.2
)
 
$
(0.1
)
 
$
(0.1
)
Net changes in fair value of derivatives
 
(6.2
)
 
(1.6
)
 
(4.6
)
Net losses reclassified from accumulated other comprehensive loss into income
 
3.1

 
0.4

 
2.7

Accumulated derivative net losses as of December 31, 2015
 
(3.3
)
 
(1.3
)
 
(2.0
)
Net changes in fair value of derivatives
 
(7.8
)
 
(0.1
)
 
(7.7
)
Net losses reclassified from accumulated other comprehensive loss into income
 
1.0

 

 
1.0

Accumulated derivative net losses as of December 31, 2016
 
(10.1
)
 
(1.4
)
 
(8.7
)
Net changes in fair value of derivatives
 
1.9

 
(0.1
)
 
2.0

Net losses reclassified from accumulated other comprehensive loss into income
 
2.2

 
0.2

 
2.0

Accumulated derivative net losses as of December 31, 2017
 
$
(6.0
)
 
$
(1.3
)
 
$
(4.7
)
Fair Value Of Derivative Instruments
The table below sets forth the fair value of derivative instruments as of December 31, 2017 (in millions):
 
Asset Derivatives as of December 31, 2017
 
Liability Derivatives as of December 31, 2017
 
Balance Sheet
Location
 
Fair
Value
 
Balance Sheet
Location
 
Fair
Value
Derivative instruments designated as hedging instruments:
 
 
 

 
 
 
 

Foreign currency contracts
Other current assets
 
$

 
Other current liabilities
 
$
1.2

Interest rate contract
Other noncurrent assets
 

 
Other noncurrent liabilities
 
4.8

Derivative instruments not designated as hedging instruments:
 
 
 
 
 
 
 
Foreign currency contracts
Other current assets
 
7.8

 
Other current liabilities
 
11.0

Total derivative instruments
 
 
$
7.8

 
 
 
$
17.0


The table below sets forth the fair value of derivative instruments as of December 31, 2016 (in millions):
 
Asset Derivatives as of December 31, 2016
 
Liability Derivatives as of December 31, 2016
 
Balance Sheet
Location
 
Fair
Value
 
Balance Sheet
Location
 
Fair
Value
Derivative instruments designated as hedging instruments:
 
 
 

 
 
 
 

Foreign currency contracts
Other current assets
 
$
0.2

 
Other current liabilities
 
$
3.9

Interest rate contract
Other noncurrent assets
 

 
Other noncurrent liabilities
 
6.4

Derivative instruments not designated as hedging instruments:
 
 
 
 
 
 
 
Foreign currency contracts
Other current assets
 
6.3

 
Other current liabilities
 
3.1

Total derivative instruments
 
 
$
6.5

 
 
 
$
13.4