XML 44 R34.htm IDEA: XBRL DOCUMENT
v3.20.2

Derivatives (Tables) | 9 Months Ended
--- | ---
Sep. 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 September 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 |  | $ | 2.6 |  |  | Accrued expenses and other current liabilities |  | $ | 3.7 |
Foreign exchange contracts | Other assets |  | — |  |  | Other liabilities |  | 8.6 |
Interest rate contracts | Accounts receivable, net |  | 0.6 |  |  | Other liabilities |  | 8.9 |
Total derivatives designated as hedges |  |  | 3.2 |  |  |  |  | 21.2 |
Derivatives not designated as hedges: |  |  |  |  |  |  |
Foreign exchange contracts | Accounts receivable, net |  | — |  |  | Accrued expenses and other current liabilities |  | 0.1 |
Total derivatives not designated as hedges |  |  | — |  |  |  |  | 0.1 |
Total derivatives |  |  | $ | 3.2 |  |  |  |  | $ | 21.3 |
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 |  | Nine Months Ended |  |  |  | Three Months Ended |  | Nine Months Ended
|  | September 30, |  | September 30, |  |  |  | September 30, |  | September 30,
|  | 2020 |  | 2019 |  | 2020 |  | 2019 |  |  |  | 2020 |  | 2019 |  | 2020 |  | 2019
Derivatives designated as cash flow hedge |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | $ | (0.3) |  |  | $ | (1.3) |  |  | $ | (6.1) |  |  | $ | (1.5) |  |  | Net sales |  | $ | (0.9) |  |  | $ | (0.3) |  |  | $ | (2.5) |  |  | $ | (0.9) |
Foreign exchange contracts |  | — |  |  | — |  |  | 1.4 |  |  | 0.1 |  |  | Other income (expense), net |  | 0.1 |  |  | (0.4) |  |  | 1.1 |  |  | (0.3) |
Interest rate contracts |  | 0.2 |  |  | 0.1 |  |  | (8.8) |  |  | 1.5 |  |  | Interest expense |  | — |  |  | 2.5 |  |  | — |  |  | 5.7 |
Derivatives designated as net investment hedge |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | (10.0) |  |  | — |  |  | (3.4) |  |  | — |  |  | Other income (expense), net |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | (10.1) |  |  | $ | (1.2) |  |  | $ | (16.9) |  |  | $ | 0.1 |  |  |  |  | $ | (0.8) |  |  | $ | 1.8 |  |  | $ | (1.4) |  |  | $ | 4.5 |
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 |  | Nine Months Ended
|  |  |  | September 30, 2020 |  | September 30, 2019 |  | September 30, 2020 |  | September 30, 2019
Foreign exchange contracts |  | Other income, net |  | $ | (0.6) |  |  | $ | (0.1) |  |  | $ | (0.1) |  |  | $ | (0.1) |

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 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 (c) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfCashFlowHedgesIncludedInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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=121590274&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=121590274&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=121590274&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration