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Derivatives (Tables)
 12 Months Ended
Dec. 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 at December 31, (in millions):
 
2019
 
2018
 
Asset (a)
 
Liability (a)
 
Asset (a)
 
Liability (a)
Derivatives designated as effective hedges:
 
 
 
 
 
 
 
Cash flow hedges:
 
 
 
 
 
 
 
Foreign currency contracts
$
0.9

 
$
12.5

 
$
13.3

 
$
0.7

Commodity contracts
—

 
0.1

 
—

 
—

Fair value hedges:
 
 
 
 
 
 
 
Interest rate swaps
2.1

 
0.9

 
—

 
11.5

Derivatives not designated as effective hedges:
 
 
 
 
 
 
 
Foreign currency contracts
10.1

 
4.5

 
12.9

 
4.2

Commodity contracts
—

 
—

 
—

 
0.9

 
 
 
 
 
 
 
 
Total
$
13.1

 
$
18.0

 
$
26.2

 
$
17.3

(a) Consolidated balance sheet location:
 
 
 
 
 
 
 
Asset: Prepaid expenses and other, and other non-current assets
 
 
 
 
 
 
 
Liability: Other accrued liabilities, and other non-current liabilities
 
 
 
 
 
 
 
Schedule of Pretax Effects of Derivative Financial Instruments Designated or Previously Designated as Effective Hedges
The following table presents pre-tax gain and loss activity for 2019, 2018 and 2017 related to derivative financial instruments designated as effective hedges:
 
2019
 
2018
 
2017
 
Gain/(Loss)
 
Gain/(Loss)
 
Gain/(Loss)
(in millions)
Recognized
in OCI (a)
 
Reclassified
from AOCL
to Income
 
Recognized
in OCI (a)
 
Reclassified
from AOCL
to Income
 
Recognized
in OCI (a)
 
Reclassified
from AOCL
to Income
Interest rate swaps (b)
$
—

 
$
(8.0
)
 
$
—

 
$
(26.6
)
 
$
—

 
$
(8.2
)
Foreign currency contracts (c)
(15.5
)
 
15.1

 
24.1

 
(13.0
)
 
(33.1
)
 
6.8

Commodity contracts
(0.2
)
 
(0.1
)
 
—

 
—

 
—

 
—

Cross-currency swaps (d)
—

 
—

 
(1.7
)
 
(3.1
)
 
(5.8
)
 
(6.9
)
 
 
 
 
 
 
 
 
 
 
 
 
Total
$
(15.7
)
 
$
7.0

 
$
22.4

 
$
(42.7
)
 
$
(38.9
)
 
$
(8.3
)
(a)
Represents effective portion recognized in Other Comprehensive Income (“OCI”).
(b)
Portion reclassified from AOCL to income recognized in interest expense.
(c)
Portion reclassified from AOCL to income recognized in sales and cost of products sold.
(d)
Portion reclassified from AOCL to income recognized in other income (expense), net