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Derivative Instruments and Hedging Activities (Tables) | 3 Months Ended
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Mar. 31, 2020
Derivative Instruments and Hedging Activities |
Schedule of notional amounts outstanding under foreign currency contracts | These transactions do not qualify for hedge accounting and, accordingly, the instrument is recorded at fair value with the corresponding gains and losses recorded in the consolidated statements of income and comprehensive income. The Company had the following notional amounts outstanding under foreign exchange contracts and cross-currency interest rate swap agreements at March 31, 2020 and December 31, 2019 (in millions): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2020 | ​ | December 31, 2019
​ | ​ | Notional | ​ | ​ | ​ | ​ | Notional | ​ | ​ | ​
​ | ​ | Amount in U.S. | ​ | ​ | ​ | ​ | Amount in U.S. | ​ | ​
​ |  | Dollars |  | Fair Value |  | Dollars |  | Fair Value
Forward Currency Contracts (1): | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assets | ​ | $ | 37.5 | ​ | $ | 0.8 | ​ | $ | 66.7 | ​ | $ | 0.9
Liabilities | ​ | ​ | 61.6 | ​ | ​ | (0.8) | ​ | ​ | 7.7 | ​ | ​ | (0.4)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cross-Currency and Interest Rate Swap Agreements (2): | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assets | ​ | ​ | 205.0 | ​ | ​ | 7.5 | ​ | ​ | — | ​ | ​ | —
Liabilities | ​ | ​ | 300.0 | ​ | ​ | (3.4) | ​ | ​ | 505.0 | ​ | ​ | (6.8)
​ | ​ | $ | 604.1 | ​ | $ | 4.1 | ​ | $ | 579.4 | ​ | $ | (6.3)
Schedule of fair value and balance sheet location of derivative instruments | The derivative instruments described above are recorded in the unaudited condensed consolidated balance sheets for the periods as follows (dollars in millions): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, 2020 |  | December 31, 2019
Derivatives designated as hedging instruments |  | ​ |  |  | ​ |
Interest rate cross-currency swap agreements |  | ​ |  |  | ​ |
Other current assets |  | $ | 9.3 |  | $ | 10.1
Other current liabilities |  | ​ | (3.4) |  | ​ | —
Other long-term assets |  | ​ | 11.8 |  | ​ | —
Other long-term liabilties |  | ​ | (13.6) |  | ​ | (16.9)
Total derivatives designated as hedging instruments |  | ​ | 4.1 |  | ​ | (6.8)
​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives not designated as hedging instruments |  | ​ |  |  | ​ |
Foreign exchange contracts |  | ​ |  |  | ​ |
Other current assets | ​ | $ | 0.8 | ​ | $ | 0.9
Other current liabilities | ​ |  | (0.8) | ​ |  | (0.4)
Embedded derivatives in purchase and delivery contracts | ​ |  |  | ​ |  |
Other current assets | ​ |  | 0.1 | ​ |  | 0.1
Other current liabilities | ​ |  | — | ​ |  | (0.6)
Fixed price commodity contracts | ​ |  |  | ​ |  |
Other current assets | ​ |  | — | ​ |  | 0.3
Other current liabilities | ​ |  | (0.8) | ​ |  | —
Total derivatives not designated as hedging instruments | ​ |  | 0.9 | ​ |  | 0.3
​ | ​ | ​ | ​ | ​ | ​ | ​
Total derivatives | ​ | $ | 5.0 | ​ | $ | (6.5)
​ | ​ | ​ | ​ | ​ | ​ | ​
​ The following is a summary of the activity included in the unaudited condensed consolidated statements of income and comprehensive income related to the above described derivative instruments (in millions): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Three Months Ended March 31,
​ |  | Financial Statement Classification |  | 2020 |  | 2019
Derivatives not designated as hedging instruments | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Foreign exchange contracts |  | Interest and other income (expense), net | ​ | $ | (0.5) | ​ | $ | 1.7
Embedded derivatives in purchase and delivery contracts | ​ | Interest and other income (expense), net | ​ | ​ | 0.6 | ​ | ​ | (0.1)
Fixed price commodity contracts | ​ | Interest and other income (expense), net | ​ | ​ | (1.1) | ​ | ​ | 0.5
​ | ​ | ​ | ​ | $ | (1.0) | ​ | $ | 2.1
Derivatives designated as Cash Flow hedging instruments | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate cross-currency swap agreements | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest earned in 2020 | ​ | Interest and other income (expense), net | ​ | $ | — | ​ | $ | —
Unrealized gains on contracts | ​ | Accumulated other comprehensive income | ​ | ​ | (19.0) | ​ | ​ | —
​ | ​ | ​ | ​ | $ | (19.0) | ​ | $ | —
Derivatives designated as Net Investment hedging instruments | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate cross-currency swap agreements | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest earned in 2020 | ​ | Interest and other income (expense), net | ​ | $ | (2.6) | ​ | $ | —
Unrealized losses on contracts | ​ | Accumulated other comprehensive income | ​ | ​ | 29.9 | ​ | ​ | —
​ | ​ | ​ | ​ | $ | 27.3 | ​ | $ | —
Schedule of impact on net income of unrealized gains and losses resulting from changes in the fair value of derivative instruments | ​

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + 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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41641-113959 Reference 8: 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 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)(2)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579240-113959 + Details
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