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Derivative Financial Instruments and Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract] |
Effect of Net Investment Hedges on AOCI | The effect of our net investment hedges on AOCI for the three and six months ended June 30, 2020 and 2019 was as follows:
|  | Gain (Loss) Recognized in Other Comprehensive Income |
|  | 3 Months Ended June 30, |  |  | 6 Months Ended June 30, |
Instrument |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Euro Notes |  | $ | (18.3 | ) |  | $ | (13.9 | ) |  | $ | (1.9 | ) |  | $ | 8.5 |
Cross-currency swaps |  |  | 9.9 |  |  |  | — |  |  |  | 2.4 |  |  |  | — |
Impact of Changes in Fair Values of Derivatives Designated as Cash Flow Hedges on OCI, AOCI and Earnings | The following tables present the impact that changes in the fair values of derivatives designated as cash flow hedges had on other comprehensive income (“OCI”), AOCI and earnings for the three and six months ended June 30, 2020 and 2019:
|  |  |  |  |  |  | (Loss) Gain Reclassified |
|  | (Loss) Gain Recognized in OCI |  |  |  |  | from AOCI into Income |
|  | 3 Months Ended June 30, |  |  | Location of (Loss) Gain Reclassified |  | 3 Months Ended June 30, |
Instrument |  | 2020 |  |  | 2019 |  |  | from AOCI into Income |  | 2020 |  |  | 2019 |
Cross-currency swaps |  | $ | (0.9 | ) |  | $ | 5.0 |  |  | Interest and other expenses (income), net |  | $ | (1.0 | ) |  | $ | 5.4 |
|  |  |  |  |  |  | (Loss) Gain Reclassified |
|  | (Loss) Gain Recognized in OCI |  |  |  |  | from AOCI into Income |
|  | 6 Months Ended June 30, |  |  | Location of (Loss) Gain Reclassified |  | 6 Months Ended June 30, |
Instrument |  | 2020 |  |  | 2019 |  |  | from AOCI into Income |  | 2020 |  |  | 2019 |
Cross-currency swaps |  | $ | 4.8 |  |  | $ | 5.0 |  |  | Interest and other expenses (income), net |  | $ | 4.7 |  |  | $ | 5.4 |
Effect of Forward Contracts not Designated as Hedging Instrument | The effect of our forward contracts that are not designated as hedging instruments on the consolidated statements of operations for the three and six months ended June 30, 2020 was as follows:
|  | Location of Gain |  | Amount of Gain Recognized in Income |
Instrument |  | Recognized in Income |  | 3 Months Ended June 30, |  |  | 6 Months Ended June 30, |
|  |  |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Foreign currency forward contracts |  | Interest and other expenses (income), net |  | $ | 0.5 |  |  | $ | 9.1 |  |  | $ | 0.3 |  |  | $ | 9.2 |
Fair Value of Derivative and Non-Derivative Assets and Liabilities on the Consolidated Balance Sheets | The following tables present the fair value of derivative and non-derivative assets and liabilities on the Consolidated Balance Sheets as of June 30, 2020 and December 31, 2019:
|  | Assets |
|  |  |  | June 30, |  |  | December 31, |
|  | Balance Sheet Location |  | 2020 |  |  | 2019 |
Instruments designated as cash flow hedges: |  |  |  |  |  |  |  |  |  |
Cross-currency swaps |  | Prepaid expenses and other assets |  | $ | 15.7 |  |  | $ | 9.7 |
Total instruments |  |  |  | $ | 15.7 |  |  | $ | 9.7 |
|  | Liabilities |
|  |  |  | June 30, |  |  | December 31, |
|  | Balance Sheet Location |  | 2020 |  |  | 2019 |
Instruments designated as net investment hedges: |  |  |  |  |  |  |  |  |  |
Euro Notes |  | Long-term debt |  | $ | 1,005.5 |  |  | $ | 1,002.9 |
Cross-currency swaps |  | Accrued liabilities |  |  | 4.1 |  |  |  | 6.0 |
Total instruments |  | $ | 1,009.6 |  |  | $ | 1,008.9 |

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- Definition Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period. + 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 (b) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of the effective portion of gains and losses on derivative instruments (and nonderivative instruments) designated and qualifying in net investment hedges recorded in accumulated other comprehensive income (loss) during the term of the hedging relationship and reclassified into earnings during the current period. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4CCC -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL109998896-113959 + Details
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