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Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2018

Fair Values of Derivative Instruments

The fair values of foreign exchange and commodity derivative instruments on the consolidated balance sheets as of December 31, 2018 and 2017 were:

				Fair Value
(In millions)		Location		2018				2017
Assets:
Foreign exchange contracts		Other current assets		$	5.3			$	0.8
Commodity contracts		Other current assets			—				0.2
Net investment hedges		Other current assets			0.7				—
		Total assets		$	6.0			$	1.0
Liabilities:
Foreign exchange contracts		Other current liabilities		$	1.9			$	5.6
Net investment hedges		Other current liabilities			—				0.8
		Total liabilities		$	1.9			$	6.4

Effects of Derivative Financial Instruments on Consolidated Statements of Income

The effects of derivative financial instruments on the consolidated statements of income in 2018, 2017 and 2016 were:

(In millions)		Gain (Loss) Recognized in Income
Type of hedge		Location		2018				2017				2016
Cash flow		Cost of products sold		$	2.0			$	0.9			$	(3.5	)
Fair value		Other (income) expense, net			3.7				(2.0	)			2.0
Total				$	5.7			$	(1.1	)		$	(1.5	)

The effective portion of cash flow hedges recognized in other comprehensive income were net gains (losses) of $10.1 million and $(1.8) million in 2018 and 2017, respectively. In the year ended December 31, 2018, the ineffective portion of cash flow hedges recognized in other income, net, was $3.8 million and insignificant in the years ended December 31, 2017 and 2016.

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- 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/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624181-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959

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