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Derivatives and Hedging Activities (Tables) | 3 Months Ended
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Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Fair Value of Derivative Instruments | The following table details the fair value of our derivative instruments included on our Condensed Consolidated Balance Sheets.
| Cash Flow |  | Non-Designated |  | Total
(In millions) | March 31, 2018 |  | December 31, 2017 |  | March 31, 2018 |  | December 31, 2017 |  | March 31, 2018 |  | December 31, 2017
Derivative Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts | $ | 0.7 |  |  | $ | 0.5 |  |  | $ | 7.2 |  |  | $ | 3.6 |  |  | $ | 7.9 |  |  | $ | 4.1 |
Total Derivative Assets | $ | 0.7 |  |  | $ | 0.5 |  |  | $ | 7.2 |  |  | $ | 3.6 |  |  | $ | 7.9 |  |  | $ | 4.1 |
Derivative Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts | $ | (1.0 | ) |  | $ | (2.4 | ) |  | $ | (9.2 | ) |  | $ | (3.3 | ) |  | $ | (10.2 | ) |  | $ | (5.7 | )
Total Derivative Liabilities(1) | $ | (1.0 | ) |  | $ | (2.4 | ) |  | $ | (9.2 | ) |  | $ | (3.3 | ) |  | $ | (10.2 | ) |  | $ | (5.7 | )
Net Derivatives(2) | $ | (0.3 | ) |  | $ | (1.9 | ) |  | $ | (2.0 | ) |  | $ | 0.3 |  |  | $ | (2.3 | ) |  | $ | (1.6 | )
(1) | Excludes €400.0 million of euro-denominated debt ($488.7 million equivalent at March 31, 2018 and $474.3 million equivalent at December 31, 2017), designated as a net investment hedge.
(2) | The following table reconciles gross positions without the impact of master netting agreements to the balance sheet classification:
| Other Current Assets |  | Other Current Liabilities
(In millions) | March 31, 2018 |  | December 31, 2017 |  | March 31, 2018 |  | December 31, 2017
Gross position | $ | 7.9 |  |  | $ | 4.1 |  |  | $ | (10.2 | ) |  | $ | (5.7 | )
Impact of master netting agreements | (0.4 | ) |  | (0.4 | ) |  | 0.4 |  |  | 0.4 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | $ | 7.5 |  |  | $ | 3.7 |  |  | $ | (9.8 | ) |  | $ | (5.3 | )
Offsetting Assets | The following table reconciles gross positions without the impact of master netting agreements to the balance sheet classification:
| Other Current Assets |  | Other Current Liabilities
(In millions) | March 31, 2018 |  | December 31, 2017 |  | March 31, 2018 |  | December 31, 2017
Gross position | $ | 7.9 |  |  | $ | 4.1 |  |  | $ | (10.2 | ) |  | $ | (5.7 | )
Impact of master netting agreements | (0.4 | ) |  | (0.4 | ) |  | 0.4 |  |  | 0.4 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | $ | 7.5 |  |  | $ | 3.7 |  |  | $ | (9.8 | ) |  | $ | (5.3 | )
Offsetting Liabilities | The following table reconciles gross positions without the impact of master netting agreements to the balance sheet classification:
| Other Current Assets |  | Other Current Liabilities
(In millions) | March 31, 2018 |  | December 31, 2017 |  | March 31, 2018 |  | December 31, 2017
Gross position | $ | 7.9 |  |  | $ | 4.1 |  |  | $ | (10.2 | ) |  | $ | (5.7 | )
Impact of master netting agreements | (0.4 | ) |  | (0.4 | ) |  | 0.4 |  |  | 0.4 |
Net amounts recognized on the Condensed Consolidated Balance Sheet | $ | 7.5 |  |  | $ | 3.7 |  |  | $ | (9.8 | ) |  | $ | (5.3 | )
Effect of Derivative Instruments on Condensed Consolidated Statements of Operations | The following table details the effect of our derivative instruments on our Condensed Consolidated Statements of Operations.
|  |  | Amount of Gain (Loss) Recognized in Earnings on Derivatives
| Location of Gain (Loss) Recognized on |  | Three Months Ended March 31,
(In millions) | Condensed Consolidated Statements of Operations |  | 2018 |  | 2017
Derivatives designated as hedging instruments: |  |  |  |  |  |  |
Cash Flow Hedges: |  |  |  |  |  |  |
Foreign currency forward contracts | Cost of sales |  | $ | (0.6 | ) |  | $ | 0.1 |
Treasury locks | Interest expense, net |  | — |  |  | 0.1 |
Sub-total cash flow hedges |  |  | (0.6 | ) |  | 0.2 |
Fair Value Hedges: |  |  |  |  |  |  |
Interest rate swaps | Interest expense, net |  | 0.1 |  |  | 0.1 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Foreign currency forward contracts | Other expense, net |  | (1.2 | ) |  | 5.2 |
Total |  |  | $ | (1.7 | ) |  | $ | 5.5 |

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