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Derivative Contracts (Tables) | 12 Months Ended
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Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Fair Value of Derivative Instruments | The following table summarizes information on the location and amounts of derivative fair values on the consolidated balance sheet as at December 31, 2020 and 2019:
|  |  |  | As at December 31, 2020 |  | As at December 31, 2019 |
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 |  | $ | 803.1 |  |  | $ | 21.5 |  | (1) | $ | 687.3 |  |  | $ | 8.1 |  | (1)
Foreign Exchange Contracts |  | Liabilities under Derivative Contracts |  | $ | 599.2 |  |  | $ | (13.6) |  |  | $ | 1,009.0 |  |  | $ | (8.9) |  |
Interest Rate Swaps |  | Liabilities under Derivative Contracts |  | $ | — |  |  | $ | — |  | (2) | $ | 1,800.0 |  |  | $ | (78.3) |  |
______________ (1)Net of $3.4 million of cash collateral (December 31, 2019 — $2.9 million). (2)Initial and variation margin of $Nil has been posted (December 31, 2019 — $111.1 million).
|  |  |  | As at December 31, 2020 |  | As at December 31, 2019 |
Derivatives Designated as Hedging Instruments Under ASC 815 |  | Balance Sheet Location |  | Notional Amount |  | Fair Value |  | Notional Amount |  | Fair Value |
|  |  |  | ($ in millions) |  | ($ in millions) |
Foreign Exchange Contracts |  | Derivatives at Fair Value |  | $ | 90.6 |  |  | $ | 5.3 |  |  | $ | 85.5 |  |  | $ | 4.8 |  |
Gain/(Loss) Recognized in Income on Derivative | The following table provides the unrealized and realized gains/(losses) 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 twelve months ended December 31, 2020 and 2019:
|  |  |  |  |  | Amount of (Loss)/Gain Recognized on Derivatives
|  |  |  |  |  | For the Twelve Months Ended
|  |  | Location of Gain/(Loss) Recognized on Derivatives |  | December 31, 2020 |  | December 31, 2019
Derivatives not designated as hedges |  |  |  |  | ($ in millions)
Foreign Exchange Contracts |  | Change in Fair Value of Derivatives |  | 16.0 |  |  | (14.0) |
Interest Rate Swaps |  | Change in Fair Value of Derivatives |  | (81.1) |  |  | (130.2) |
Derivatives designated as hedges |  |  |  |  |  |  |
Foreign Exchange Contracts |  | General, administrative and corporate expenses |  | (3.2) |  |  | 0.9 |
Foreign Exchange Contracts |  | Net change from current period hedged transactions |  | 0.3 |  |  | 4.8 |

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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 + Details
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- 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 + Details
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