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DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
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Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of fair value of derivative instruments designated as hedging instruments that are reported in the Consolidated Balance Sheet | The following table provides the location and fair value amounts of derivative instruments designated and not designated as hedging instruments that are reported in the Consolidated Balance Sheet (in millions):
|  | December 31, 2019 |  | December 31, 2018
Instrument (1) | Balance Sheet Account | Derivatives designated as hedges | Derivatives not designated as hedges |  | Derivatives designated as hedges | Derivatives not designated as hedges
Foreign exchange contracts | Other current assets | $ | 4.1 |  | $ | — |  |  | $ | 2.9 |  | $ | 0.2 |
Cross currency swaps | Other current assets | — |  | — |  |  | 0.8 |  | — |
Debt conversion feature | Other assets | — |  | — |  |  | — |  | 0.5 |
Foreign exchange contracts | Other current liabilities | $ | (3.9 | ) | $ | — |  |  | $ | (5.0 | ) | $ | — |
Commodity swaps | Other current liabilities | — |  | — |  |  | (1.1 | ) | — |
Cross currency swaps | Other non-current liabilities | — |  | — |  |  | (3.0 | ) | — |
Net derivative asset (liability) | $ | 0.2 |  | $ | — |  |  | $ | (5.4 | ) | $ | 0.7 |
Schedule of derivative instruments that are designated as hedges in the Consolidated Statement of Income and Accumulated other comprehensive income (loss) ("OCI") | The following tables provide the effect of derivative instruments that are designated as hedges in AOCI (in millions):
| Gain (Loss) Recognized on Derivatives in OCI, net of tax |  | Gain (Loss) Reclassified from AOCI into Income
| Year Ended December 31, |  | Year Ended December 31,
Instrument | 2019 | 2018 | Income Statement Account | 2019 | 2018
Foreign exchange contracts | $ | 2.7 |  | $ | (5.4 | ) | Cost of goods sold | $ | (5.5 | ) | $ | (1.4 | )
Commodity swaps | 0.3 |  | (1.2 | ) | Cost of goods sold | (2.8 | ) | (0.2 | )
Cross currency swaps | 0.6 |  | 0.1 |  | Other income (expense) - net | 1.1 |  | 2.1 |
Total | $ | 3.6 |  | $ | (6.5 | ) | Total | $ | (7.2 | ) | $ | 0.5 |
Gain (Loss) Recognized on Derivatives in OCI, net of tax: | Year Ended December 31, 2017
Instrument |
Foreign exchange contracts | $ | 5.4 |
Cross currency swaps | (0.9 | )
Total | $ | 4.5 |
Gain (Loss) Reclassified from AOCI into Income (Loss) (Effective): | Year Ended December 31, 2017
Income Statement Account |
Cost of goods sold | $ | 1.5 |
Other income (expense) – net | (3.1 | )
Total | $ | (1.6 | )
The following tables provide the effect of derivative instruments that are designated as hedges in the Consolidated Statement of Income (Loss) (in millions):
| Classification and amount of Gain or Loss Recognized in Income
| Cost of goods sold |  | Other income (expense) - net
| Year Ended December 31,
| 2019 | 2018 |  | 2019 | 2018
Income Statement Accounts in which effects of cash flow hedges are recorded | $ | (3,465.3 | ) | $ | (3,555.3 | ) |  | $ | (6.1 | ) | $ | (60.6 | )
Gain (Loss) Reclassified from AOCI into Income (Loss): |  |  |  |
Foreign exchange contracts | (5.5 | ) | (1.4 | ) |  | — |  | — |
Commodity swaps | (2.8 | ) | (0.2 | ) |  | — |  | — |
Cross currency swaps | — |  | — |  |  | 1.1 |  | 2.1 |
Total | $ | (8.3 | ) | $ | (1.6 | ) |  | $ | 1.1 |  | $ | 2.1 |
Gain (Loss) Recognized on Derivatives (Ineffective) in Income (Loss): | December 31, 2017
Income Statement Account |
Cost of goods sold | $ | 1.2 |
Other income (expense) – net | (0.1 | )
Total | $ | 1.1 |
Schedule of derivative instruments that are not designated as hedges in the Consolidated Statement of Income and OCI | The following table provides the effect of non-designated derivatives outstanding at the end of the period in the Consolidated Statement of Income (Loss) (in millions):
|  | Year Ended December 31,
Instrument | Income Statement Account | 2019 | 2018 | 2017
Foreign exchange contracts | Other income (expense) – net | $ | (0.2 | ) | $ | (0.1 | ) | $ | (1.1 | )
Debt conversion feature | Other income (expense) – net | $ | (0.5 | ) | $ | (0.9 | ) | $ | 0.4 |
Total |  | $ | (0.7 | ) | $ | (1.0 | ) | $ | (0.7 | )

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