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Derivative Contracts (Tables)

3 Months Ended

Mar. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Derivative Instruments

The following tables summarize information on the location and amounts of derivative fair values on the consolidated balance sheet as at March 31, 2019 and December 31, 2018:

				As at March 31, 2019								As at December 31, 2018
Derivatives Not Designated as Hedging Instruments Under ASC 815		Balance Sheet Location		Notional Amount				Fair Value				Notional Amount				Fair Value
				($ in millions)								($ in millions)
Foreign Exchange Contracts		Derivatives at Fair Value		$	667.6			$	8.9			$	496.5			$	14.6
Foreign Exchange Contracts		Liabilities under Derivative Contracts		$	606.5			$	(7.2	)	(1)	$	760.8			$	(13.9	)
Interest Rate Swaps		Liabilities under Derivative Contracts		$	3,318.0			$	(49.5	)	(2)	$	—			$	—

⁽¹⁾  Net of $2.3 million cash collateral (December 31, 2018 — $2.3 million).

⁽²⁾  Initial and variation margin of $109.1 million has been posted (December 31, 2018 — $Nil).

				As at March 31, 2019								As at December 31, 2018
Derivatives Designated as Hedging Instruments Under ASC 815		Balance Sheet Location		Notional Amount				Fair Value				Notional Amount				Fair Value
				($ in millions)								($ in millions)
Foreign Exchange Contracts		Derivatives at Fair Value		$	70.8			$	1.9			$	—			$	—
Foreign Exchange Contracts		Liabilities under Derivative Contracts		$	—			$	—			$	94.3			$	(1.2	)

Gain/(Loss) Recognized in Income on Derivative

The following table provides the unrealized and realized gains recorded in the statements of operations and other comprehensive income for derivatives that are not designated or designated as hedging instruments under ASC 815 - “Derivatives and Hedging” for the three months ended March 31, 2019 and 2018.

						Amount of Gain Recognized on Derivatives
						Three Months Ended
			Location of Gain Recognized on Derivatives			March 31, 2019			March 31, 2018
Derivatives not designated as hedges						($ in millions)
Foreign Exchange Contracts			Change in Fair Value of Derivatives			(3.1	)		23.5
Interest Rate Swaps			Change in Fair Value of Derivatives			(50.2	)		—
Derivatives designated as hedges
Foreign Exchange Contracts			General, administrative and corporate expenses			0.4			1.7
Foreign Exchange Contracts			Net change from current period hedged transactions			1.7			0.9

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
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-Name Accounting Standards Codification
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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
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