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Fair Value of Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2016
Fair Value Disclosures [Abstract] |
Financial assets and liabilities accounted for at fair value on a recurring basis by level within the fair value hierarchy | The following tables set forth the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of June 30, 2016 and December 31, 2015 by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.
| Fair Value as of June 30, 2016
(in millions) | Level 1 |  | Level 2 |  | Level 3 |  | Total
Current Assets: |  |  |  |  |  |  |  |  |  |  |
Foreign currency exchange contracts | $ | — |  |  | $ | 0.3 |  |  | $ | — |  |  | $ | 0.3 |
Commodity contracts | — |  |  | 0.1 |  |  | — |  |  | 0.1 |
Total current assets at fair value | $ | — |  |  | $ | 0.4 |  |  | $ | — |  |  | $ | 0.4 |
Current Liabilities: |  |  |  |  |  |  |  |  |  |  |
Foreign currency exchange contracts | $ | — |  |  | $ | 5.3 |  |  | $ | — |  |  | $ | 5.3 |
Commodity contracts | — |  |  | 0.1 |  |  | — |  |  | 0.1 |
Total current liabilities at fair value | $ | — |  |  | $ | 5.4 |  |  | $ | — |  |  | $ | 5.4 |
| Fair Value as of December 31, 2015
(in millions) | Level 1 |  | Level 2 |  | Level 3 |  | Total
Current Assets: |  |  |  |  |  |  |  |  |  |  |
Foreign currency exchange contracts | $ | — |  |  | $ | 0.3 |  |  | $ | — |  |  | $ | 0.3 |
Total current assets at fair value | $ | — |  |  | $ | 0.3 |  |  | $ | — |  |  | $ | 0.3 |
Current Liabilities: |  |  |  |  |  |  |  |  |  |  |
Foreign currency exchange contracts | $ | — |  |  | $ | 1.1 |  |  | $ | — |  |  | $ | 1.1 |
Commodity contracts | — |  |  | 0.7 |  |  | — |  |  | 0.7 |
Interest rate swap contracts: Float-to-fixed | — |  |  | 1.7 |  |  | — |  |  | 1.7 |
Total current liabilities at fair value | $ | — |  |  | $ | 3.5 |  |  | $ | — |  |  | $ | 3.5 |
Non-current Liabilities: |  |  |  |  |  |  |
Interest rate swap contracts: Float-to-fixed | $ | — |  |  | $ | 0.6 |  |  | $ | — |  |  | $ | 0.6 |
Foreign currency exchange contracts | — |  |  | 0.1 |  |  | — |  |  | 0.1 |
Total non-current liabilities at fair value | $ | — |  |  | $ | 0.7 |  |  | $ | — |  |  | $ | 0.7 |
Fair value hierarchy inputs | Accounting Standards Codification ("ASC") Topic 820-10, “Fair Value Measurement,” defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820-10 classifies the inputs used to measure fair value into the following hierarchy:
Level 1 | Unadjusted quoted prices in active markets for identical assets or liabilities
Level 2 | Unadjusted quoted prices in active markets for similar assets or liabilities, or
| Unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or
| Inputs other than quoted prices that are observable for the asset or liability
Level 3 | Unobservable inputs for the asset or liability

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- Definition Tabular disclosure of quantitative information about the inputs used in the fair value measurement of assets. This disclosure may include, but is not limited to, the fair value of the asset, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258 + Details
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