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Derivative Instruments and Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]
The following table summarizes the notional values of the instrument designated as a net investment hedge (in millions):
 
Notional Amount as of
 
December 31, 2019
 
December 31, 2018
Cross currency swap contract
$
300.0

 
$
300.0
Schedule of Derivative Instruments [Table Text Block]
The following table summarizes the after-tax impact of changes in the fair value of the instrument designated as a net investment hedge (in millions):
 
Gain (Loss) Recognized in Accumulated Other Comprehensive Loss for the Years Ended
 
December 31, 2019
 
December 31, 2018
 
December 31, 2017
Foreign currency denominated debt
$
2.5

 
$
(14.4
)
 
$
(45.0
)
Cross currency swap contract
9.3

 
17.7

 
—
Derivatives Not Designated as Hedging Instruments [Table Text Block]
The following table summarizes the impact that changes in the fair value of derivatives not designated as hedging instruments had on net income (in millions):
 
 
 
For the Years Ended
 
Classification of
Gain (Loss)
 
December 31, 2019
 
December 31, 2018
 
December 31, 2017
Foreign currency contracts
Other expense, net
 
$
20.4

 
$
(1.4
)
 
$
38.3
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 net income during 2019, 2018 and 2017 (in millions):
 
 
 
Recognized in Net Income
 
 
 
(Loss) Gain Recognized in Accumulated
Other Comprehensive Loss
 
Classification of Gain (Loss)
 
Gain (Loss) Reclassified from Accumulated
Other Comprehensive Loss into Income
 
Total Amount of the Line Item in the Consolidated Statements of Operations Containing Hedge Gains (Losses)
2019
 
 
 
 
 
 
 
Foreign currency contracts(1)
$
(2.6
)
 
Cost of goods sold
 
$
0.1

 
$
7,057.1

2018
 
 
 
 
 
 
 
Foreign currency contracts
$
0.4

 
Cost of goods sold
 
$
(2.2
)
 
$
7,355.3

Interest rate swap contract
(1.5
)
 
Interest expense, net
 
(5.0
)
 
53.8

Total
$
(1.1
)
 
 
 
$
(7.2
)
 
 
2017
 
 
 
 
 
 
 
Foreign currency contracts
$
2.7

 
Cost of goods sold
 
$
0.4

 
$
6,541.2

Interest rate swap contract
(0.7
)
 
Interest expense, net
 
(2.4
)
 
45.1

Total
$
2.0

 
 
 
$
(2.0
)
 
 
    
(1) The outstanding contracts as of December 31, 2019 range in maturity through December 2020.
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, 2019, 2018 and 2017 (in millions):
 
 
Before-Tax
Amount
 
Income
Tax
 
After-Tax
Amount
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
)
Net changes in fair value of derivatives
 
(1.0
)
 
0.1

 
(1.1
)
Net losses reclassified from accumulated other comprehensive loss into income
 
8.6

 
1.4

 
7.2

Accumulated derivative net gains as of December 31, 2018
 
1.6

 
0.2

 
1.4

Net changes in fair value of derivatives
 
(3.0
)
 
(0.4
)
 
(2.6
)
Net gains reclassified from accumulated other comprehensive loss into income
 
(0.1
)
 
—

 
(0.1
)
Accumulated derivative net losses as of December 31, 2019
 
$
(1.5
)
 
$
(0.2
)
 
$
(1.3
)
Fair Value Of Derivative Instruments
The table below sets forth the fair value of derivative instruments as of December 31, 2019 (in millions):
 
Asset Derivatives as of December 31, 2019
 
Liability Derivatives as of December 31, 2019
 
Balance Sheet
Location
 
Fair
Value
 
Balance Sheet
Location
 
Fair
Value
Derivative instruments designated as hedging instruments:
 
 
 
 
 
 
 
Foreign currency contracts
Other current assets
 
$
0.6

 
Other current liabilities
 
$
1.9

Cross currency swap contract
Other noncurrent assets
 
27.0

 
Other noncurrent liabilities
 
—

Derivative instruments not designated as hedging instruments:
 
 
 
 
 
 
 
Foreign currency contracts
Other current assets
 
11.7

 
Other current liabilities
 
13.1

Total derivative instruments
 
 
$
39.3

 
 
 
$
15.0


The table below sets forth the fair value of derivative instruments as of December 31, 2018 (in millions):
 
Asset Derivatives as of December 31, 2018
 
Liability Derivatives as of December 31, 2018
 
Balance Sheet
Location
 
Fair
Value
 
Balance Sheet
Location
 
Fair
Value
Derivative instruments designated as hedging instruments:
 
 
 
 
 
 
 
Foreign currency contracts
Other current assets
 
$
1.9

 
Other current liabilities
 
$
0.4

Cross currency swap contract
Other noncurrent assets
 
17.7

 
Other noncurrent liabilities
 
—

Derivative instruments not designated as hedging instruments:
 
 
 
 
 
 
 
Foreign currency contracts
Other current assets
 
5.1

 
Other current liabilities
 
6.2

Total derivative instruments
 
 
$
24.7

 
 
 
$
6.6



Former Interest Rate Swap Contract

The Company monitors the mix of short-term and long-term debt regularly. From time to time, the Company manages the risk to interest rate fluctuations through the use of derivative financial instruments. During 2015, the Company entered into an interest rate swap instrument with a notional amount of €312.0 million and an expiration date of June 26, 2020. The swap was designated and accounted for as a cash flow hedge. Under the swap agreement, the Company paid a fixed interest rate of 0.33% plus the applicable margin, and the counterparty to the agreement paid a floating interest rate based on the three-month EURIBOR. Changes in the fair value of the interest rate swap were recorded in accumulated other comprehensive loss and were subsequently reclassified into “Interest expense, net” as a rate adjustment in the same period in which the related interest on the Company’s floating rate term loan facility affected earnings. As a result of the Company’s new credit facility agreement entered into in October 2018 and the repayment of the €312.0 million (or approximately $360.8 million) term loan under the Company’s former revolving credit facility, as well as the change in the mix of the Company’s short-term and long-term debt, the Company terminated the interest rate swap instrument and recorded a loss of approximately $3.9 million which was recorded in “Interest expense, net” for the year ended December 31, 2018. Refer to Note 7 for further information.