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Derivatives (Tables)

6 Months Ended

Jun. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Asset and Liability Derivatives and the Respective Balance Sheet Locations

The following table presents the fair value of asset and liability derivatives and the respective balance sheet locations at June 30, 2018 ($ in millions):

	Asset Derivatives						Liability Derivatives
	Balance Sheet Location		Fair Value				Balance Sheet Location		Fair Value
Derivatives designated as hedges:
Foreign exchange contracts	Accounts receivable, net		$	2.7			Accrued expenses		$	2.5
Foreign exchange contracts	Other assets		—				Other liabilities		12.2
Interest rate contracts	Other assets		4.4				Other liabilities		—
Total derivatives designated as hedges			7.1						14.7
Derivatives not designated as hedges:
Foreign exchange contracts	Accounts receivable, net		0.3				Accounts payable		—
Total derivatives not designated as hedges			0.3						—
Total derivatives			$	7.4					$	14.7

The following table presents the fair value of asset and liability derivatives and the respective balance sheet locations at December 31, 2017 ($ in millions):

	Asset Derivatives						Liability Derivatives
	Balance Sheet Location		Fair Value				Balance Sheet Location		Fair Value
Derivatives designated as hedges:
Foreign exchange contracts	Accounts receivable, net		$	4.7			Accrued expenses		$	0.2
Foreign exchange contracts	Other assets		—				Other liabilities		14.2
Interest rate contracts	Other assets		2.0				Other liabilities		—
Total derivatives designated as hedges			6.7						14.4
Derivatives not designated as hedges:
Foreign exchange contracts	Accounts receivable, net		0.1				Accounts payable		—
Total derivatives not designated as hedges			0.1						—
Total derivatives			$	6.8					$	14.4

Effect on Accumulated Other Comprehensive Income (Loss) and Results of Operations of Derivative Instruments in Cash Flow Hedging Relationships

The following table provides the gross effect that derivative instruments in cash flow hedging relationships had on accumulated other comprehensive income (loss), or AOCI, and results of operations ($ in millions):

Derivatives Designated as Cash Flow Hedging Relationships		Unrealized Gain (Loss) Recognized in AOCI on Derivatives, Net of Tax																Location of Gain (Loss) Reclassified from AOCI		Gain (Loss) Reclassified from AOCI
		Three Months Ended								Six Months Ended										Three Months Ended								Six Months Ended
		June 30,								June 30,										June 30,								June 30,
		2018				2017				2018				2017						2018				2017				2018				2017
Foreign exchange contracts		$	(3.1	)		$	(0.4	)		$	(2.7	)		$	1.5			Net sales		$	0.1			$	(0.1	)		$	0.7			$	(0.1	)
Foreign exchange contracts		0.1				(2.8		)		—				(3.3		)		Other income, net		0.2				1.0				—				1.2
Interest rate contracts		0.8				(0.5		)		3.0				(0.8		)		Interest expense		0.5				(0.3		)		0.9				(0.7		)
Total		$	(2.2	)		$	(3.7	)		$	0.3			$	(2.6	)				$	0.8			$	0.6			$	1.6			$	0.4

Effect on Net Income of Derivative Instruments Non Designated as Hedging

The following table provides the effect that derivative instruments not designated as cash flow hedging instruments had on net income ($ in millions):

Derivatives Not Designated as Cash Flow Hedging Instruments		Location of Gain (Loss) Recognized in Income		Amount of Gain (Loss) Recognized in Income
				Three Months Ended								Six Months Ended
				June 30, 2018				June 30, 2017				June 30, 2018				June 30, 2017
Foreign exchange contracts		Other income, net		$	(2.6	)		$	(0.3	)		$	(2.1	)		$	(1.4	)

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (c)
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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
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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

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