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Derivative Instruments and Hedging Activities (Tables) | 6 Months Ended
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Jun. 30, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract] |
Gains (Losses) Relating to Derivative Instruments Recorded in Other Comprehensive (Loss) Income | The following table summarizes gains (losses) relating to derivative instruments recorded in other comprehensive (loss) income during the three and six months ended June 30, 2020 and 2019:
|  | Amount of (Loss) Gain Recognized in Other Comprehensive Income (Loss) |
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, 2020 |  |  | June 30, 2019 |  |  | June 30, 2020 |  |  | June 30, 2019 |
|  | (in millions) |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange currency contracts relating to inventory and intercompany management fee hedges |  | $ | (1.0 | ) |  | $ | — |  |  | $ | 6.3 |  |  | $ | (1.0 | )
Interest rate swaps |  |  | (0.3 | ) |  |  | — |  |  |  | (1.5 | ) |  |  | — |
Effect of Cash Flow Hedging Relationships on Condensed Consolidated Statements of Income | The effect of cash flow hedging relationships on the Company’s condensed consolidated statements of income for the three and six months ended June 30, 2020 and 2019 was as follows:
|  | Location and Amount of (Loss) Gain Recognized in Income on Cash Flow Hedging Relationships |
|  | Three Months Ended |
|  | June 30, 2020 |  |  | June 30, 2019 |
|  | Cost of sales |  |  | Selling, general, and administrative expenses |  |  | Interest expense, net |  |  | Cost of sales |  |  | Selling, general, and administrative expenses |  |  | Interest expense, net |
|  | (in millions) |
Total amounts presented in the condensed consolidated statements of income |  | $ | 272.8 |  |  | $ | 480.8 |  |  | $ | 28.8 |  |  | $ | 243.2 |  |  | $ | 477.0 |  |  | $ | 36.3 |
Foreign exchange currency contracts relating to inventory hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amount of (loss) gain reclassified from accumulated other comprehensive loss to income |  |  | (0.9 | ) |  |  | — |  |  |  | — |  |  |  | 0.1 |  |  |  | — |  |  |  | — |
Amount of loss excluded from assessment of effectiveness recognized in income |  |  | (0.7 | ) |  |  | — |  |  |  | — |  |  |  | (0.6 | ) |  |  | — |  |  |  | — |
Foreign exchange currency contracts relating to intercompany management fee hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amount of gain reclassified from accumulated other comprehensive loss to income |  |  | — |  |  |  | 0.1 |  |  |  | — |  |  |  | — |  |  |  | 0.4 |  |  |  | — |
Amount of gain excluded from assessment of effectiveness recognized in income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 0.1 |  |  |  | — |
Interest rate swaps: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amount of loss reclassified from accumulated other comprehensive loss to income |  |  | — |  |  |  | — |  |  |  | (0.1 | ) |  |  | — |  |  |  | — |  |  |  | — |
Amount of gain excluded from assessment of effectiveness recognized in income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | Location and Amount of (Loss) Gain Recognized in Income on Cash Flow Hedging Relationships |
|  | Six Months Ended |
|  | June 30, 2020 |  |  | June 30, 2019 |
|  | Cost of sales |  |  | Selling, general, and administrative expenses |  |  | Interest expense, net |  |  | Cost of sales |  |  | Selling, general, and administrative expenses |  |  | Interest expense, net |
|  | (in millions) |
Total amounts presented in the condensed consolidated statements of income |  | $ | 518.5 |  |  | $ | 1,029.8 |  |  | $ | 53.8 |  |  | $ | 484.8 |  |  | $ | 912.4 |  |  | $ | 72.4 |
Foreign exchange currency contracts relating to inventory hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amount of (loss) gain reclassified from accumulated other comprehensive loss to income |  |  | (1.2 | ) |  |  | — |  |  |  | — |  |  |  | 0.1 |  |  |  | — |  |  |  | — |
Amount of loss excluded from assessment of effectiveness recognized in income |  |  | (1.8 | ) |  |  | — |  |  |  | — |  |  |  | (1.3 | ) |  |  | — |  |  |  | — |
Foreign exchange currency contracts relating to intercompany management fee hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amount of gain reclassified from accumulated other comprehensive loss to income |  |  | — |  |  |  | 0.1 |  |  |  | — |  |  |  | — |  |  |  | 0.8 |  |  |  | — |
Amount of gain excluded from assessment of effectiveness recognized in income |  |  | — |  |  |  | 0.1 |  |  |  | — |  |  |  | — |  |  |  | 0.1 |  |  |  | — |
Interest rate swaps: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amount of loss reclassified from accumulated other comprehensive loss to income |  |  | — |  |  |  | — |  |  |  | (0.1 | ) |  |  | — |  |  |  | — |  |  |  | — |
Amount of gain excluded from assessment of effectiveness recognized in income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Gains Relating to Derivative Instruments Not Designated As Hedging Instruments Recorded to Income | The following table summarizes gains recorded to income relating to derivative instruments not designated as hedging instruments during the three and six months ended June 30, 2020 and 2019:
|  | Amount of (Loss) Gain Recognized in Income |  |  |
|  | Three Months Ended |  |  | Six Months Ended |  |  |
|  | June 30, 2020 |  |  | June 30, 2019 |  |  | June 30, 2020 |  |  | June 30, 2019 |  |  | Location of (Loss) Gain Recognized in Income
|  | (in millions) |  |  |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange currency contracts |  | $ | (1.3 | ) |  | $ | (2.5 | ) |  | $ | 1.7 |  |  | $ | (0.2 | ) |  | Selling, general, and administrative expenses

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- Definition Tabular disclosure for cash flow hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the 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 4C -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
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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=109980867&loc=SL5624171-113959 + Details
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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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