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Derivatives (Tables) | 3 Months Ended
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Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Fair Value of Derivative Financial Instruments | The following table presents the fair value of derivative financial instruments as of the dates indicated (in millions):
|  | March 31, 2019 |  |  | December 31, 2018 |
|  | Fair Value of Derivatives |  |  | Fair Value of Derivatives |
|  | Asset (a) |  |  | Liability (a) |  |  | Asset (a) |  |  | Liability (a) |
Derivatives designated as effective hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency contracts |  | $ | 7.9 |  |  | $ | 3.6 |  |  | $ | 13.3 |  |  | $ | 0.7 |
Fair value hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  |  | — |  |  |  | 6.0 |  |  |  | — |  |  |  | 11.5 |
Derivatives not designated as effective hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency contracts |  |  | 8.6 |  |  |  | 8.2 |  |  |  | 12.9 |  |  |  | 4.2 |
Commodity contracts |  |  | — |  |  |  | 1.3 |  |  |  | — |  |  |  | 0.9 |
Total |  | $ | 16.5 |  |  | $ | 19.1 |  |  | $ | 26.2 |  |  | $ | 17.3 |
(a) Consolidated balance sheet location: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset: Prepaid expenses and other, and other non-current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Liability: Other accrued liabilities, and current and non-current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Schedule of Pretax Effects of Derivative Financial Instruments Designated or Previously Designated as Effective Hedges | The following tables presents gain and loss activity (on a pretax basis) for the three months ended March 31, 2019 and 2018 related to derivative financial instruments designated or previously designated, as effective hedges (in millions):
|  |  |  |  | Three Months Ended March 31, 2019 |  |  | Three Months Ended March 31, 2018 |
|  |  |  |  | Gain/(Loss) |  |  | Gain/(Loss) |
|  | Location of gain/ (loss) recognized in income |  |  | Recognized in OCI (a) (effective portion) |  |  | Reclassified from AOCL to Income |  |  | Recognized in OCI (a) (effective portion) |  |  | Reclassified from AOCL to Income |
Interest rate swaps |  | Interest expense, net |  |  | $ | — |  |  | $ | (1.5 | ) |  | $ | — |  |  | $ | (1.9 | )
Foreign currency contracts |  | Net sales and cost of products sold |  |  |  | (6.1 | ) |  |  | 5.7 |  |  |  | (5.3 | ) |  |  | (6.4 | )
Commodity contracts |  | Cost of products sold |  |  |  | (0.6 | ) |  |  | — |  |  |  | — |  |  |  | — |
Cross-currency swaps |  | Other expense (income), net |  |  |  | — |  |  |  | — |  |  |  | (3.4 | ) |  |  | (4.8 | )
Total |  |  |  |  |  | $ | (6.7 | ) |  | $ | 4.2 |  |  | $ | (8.7 | ) |  | $ | (13.1 | )
(a) | Represents effective portion recognized in Other Comprehensive Income (Loss) (“OCI”).

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- Definition Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -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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