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Derivatives (Tables) | 6 Months Ended
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Jun. 30, 2020
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 condensed consolidated balance sheet locations at June 30, 2020 ($ 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 |  | $ | 1.4 |  |  | Accrued expenses and other current liabilities |  | $ | 4.2 |
Foreign exchange contracts | Other assets |  | 6.5 |  |  | Other liabilities |  | 3.1 |
Interest rate contracts | Accounts receivable, net |  | — |  |  | Other liabilities |  | 9.1 |
Total derivatives designated as hedges |  |  | 7.9 |  |  |  |  | 16.4 |
Derivatives not designated as hedges: |  |  |  |  |  |  |
Foreign exchange contracts | Accounts receivable, net |  | 0.2 |  |  | Accrued expenses and other current liabilities |  | — |
Total derivatives not designated as hedges |  |  | 0.2 |  |  |  |  | — |
Total derivatives |  |  | $ | 8.1 |  |  |  |  | $ | 16.4 |
The following table presents the fair value of asset and liability derivatives and the respective condensed consolidated balance sheet locations at December 31, 2019 ($ 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 |  | $ | 4.8 |  |  | Accrued expenses |  | $ | 5.6 |
Foreign exchange contracts | Other assets |  | 6.3 |  |  | Other liabilities |  | 5.5 |
Interest rate contracts | Accounts receivable, net |  | — |  |  | Accrued expenses |  | 0.2 |
Interest rate contracts | Other assets |  | — |  |  | Other liabilities |  | — |
Total derivatives designated as hedges |  |  | $ | 11.1 |  |  |  |  | $ | 11.3 |
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 |  |  | $ | 11.2 |  |  |  |  | $ | 11.3 |
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 designated in hedging relationships had on Accumulated other comprehensive loss and results of operations ($ in millions):
Derivatives Designated in Hedging Relationships |  | Unrealized (Loss) Gain Recognized in AOCI on Derivatives, Net of Tax |  |  |  |  |  |  |  | Location of (Loss) Gain Reclassified from AOCI |  | (Loss) Gain Reclassified from AOCI |  |  |  |  |  |
|  | Three Months Ended |  |  |  | Six Months Ended |  |  |  |  |  | Three Months Ended |  |  |  | Six Months Ended |  |
|  | June 30, |  |  |  | June 30, |  |  |  |  |  | June 30, |  |  |  | June 30, |  |
|  | 2020 |  | 2019 |  | 2020 |  | 2019 |  |  |  | 2020 |  | 2019 |  | 2020 |  | 2019
Derivatives designated as cash flow hedge |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | $ | (0.8) |  |  | $ | (0.3) |  |  | $ | (5.8) |  |  | $ | (0.2) |  |  | Net sales |  | $ | (1.0) |  |  | $ | (0.4) |  |  | $ | (1.6) |  |  | $ | (0.6) |
Foreign exchange contracts |  | 0.9 |  |  | 0.4 |  |  | 1.4 |  |  | 0.1 |  |  | Other income (expense), net |  | 0.4 |  |  | 0.5 |  |  | 1.0 |  |  | 0.1 |
Interest rate contracts |  | (0.8) |  |  | 0.8 |  |  | (9) |  |  | 1.4 |  |  | Interest expense |  | — |  |  | 1.7 |  |  | — |  |  | 3.2 |
Derivatives designated as net investment hedge |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | (5.4) |  |  | — |  |  | 6.6 |  |  | — |  |  | Other income (expense), net |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | (6.1) |  |  | $ | 0.9 |  |  | $ | (6.8) |  |  | $ | 1.3 |  |  |  |  | $ | (0.6) |  |  | $ | 1.8 |  |  | $ | (0.6) |  |  | $ | 2.7 |
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 Recognized in Income |  | Amount of Gain Recognized in Income |  |  |  |  |  |
|  |  |  | Three Months Ended |  |  |  | Six Months Ended |  |
|  |  |  | June 30, 2020 |  | June 30, 2019 |  | June 30, 2020 |  | June 30, 2019
Foreign exchange contracts |  | Other income, net |  | $ | 0.3 |  |  | $ | 0.1 |  |  | $ | 0.5 |  |  | $ | — |

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