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Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2017

Derivative [Line Items]

Schedule of the fair value of outstanding derivative contracts recorded as assets in the accompanying consolidated balance sheet

The fair value of outstanding derivative contracts recorded as assets in the accompanying Condensed Consolidated Balance Sheets as of March 31, 2017 and December 31, 2016 was as follows:

Designated Hedging Instruments				ASSET DERIVATIVES
				March 31, 2017				December 31, 2016
(in millions)		Balance Sheet Location		Fair Value
Derivatives designated as hedging instruments
Foreign exchange contracts		Other current assets		$	—			$	0.1
Commodity contracts		Other current assets		0.1				0.2
Total derivatives designated as hedging instruments				$	0.1			$	0.3

				ASSET DERIVATIVES
				March 31, 2017				December 31, 2016
(in millions)		Balance Sheet Location		Fair Value
Derivatives NOT designated as hedging instruments
Foreign exchange contracts		Other current assets		$	—			$	0.1
Total derivatives NOT designated as hedging instruments				$	—			$	0.1
Total asset derivatives				$	0.1			$	0.4

Schedule of the fair value of outstanding derivative contracts recorded as liabilities in the accompanying consolidated balance sheet

The fair value of outstanding derivative contracts recorded as liabilities in the accompanying Condensed Consolidated Balance Sheets as of March 31, 2017 and December 31, 2016 was as follows:

				LIABILITY DERIVATIVES
				March 31, 2017				December 31, 2016
(in millions)		Balance Sheet Location		Fair Value
Derivatives designated as hedging instruments
Foreign exchange contracts		Accounts payable and accrued expenses		$	0.3			$	0.9
Total derivatives designated as hedging instruments				$	0.3			$	0.9

				LIABILITY DERIVATIVES
				March 31, 2017				December 31, 2016
(in millions)		Balance Sheet Location		Fair Value
Derivatives NOT designated as hedging instruments
Foreign exchange contracts		Accounts payable and accrued expenses		$	—			$	0.1
Total derivatives NOT designated as hedging instruments				$	—			$	0.1
Total liability derivatives				$	0.3			$	1.0

Designated Hedging Instruments

Derivative [Line Items]

Outstanding commodity and foreign currency exchange contracts

As of March 31, 2017 and December 31, 2016, the Company had the following outstanding commodity and foreign currency exchange contracts that were intended to hedge forecasted transactions:

Designated Hedging Instruments		Units Hedged
Commodity		March 31, 2017			December 31, 2016			Unit		Type
Natural Gas		3,579			26,807			MMBtu		Cash Flow
Steel		1,945			3,190			Tons		Cash Flow

Designated Hedging Instruments		Units Hedged
Currency		March 31, 2017			December 31, 2016			Type
Australian Dollar		1,380,374			611,143			Cash Flow
European Euro		4,609,005			9,834,120			Cash Flow
South Korean Won		83,579,000			218,408,100			Cash Flow
Singapore Dollar		300,000			900,000			Cash Flow
United States Dollar		—			2,311,697			Cash Flow
Japanese Yen		43,867,400			65,502,800			Cash Flow

Derivatives NOT designated as hedging instruments

Derivative [Line Items]

Outstanding commodity and foreign currency exchange contracts

For derivative instruments that are not designated as hedging instruments under ASC Topic 815-10, the gains or losses on the derivatives are recognized in current earnings within Other (expense) income, net in the Condensed Consolidated Statements of Operations.  As of March 31, 2017 and December 31, 2016, the Company had the following outstanding foreign currency exchange contracts that were not designated as hedging instruments:

Non Designated Hedging Instruments		Units Hedged
Currency		March 31, 2017			December 31, 2016			Recognized Location		Purpose
European Euro		4,929,005			10,502,111			Other income, net		Accounts Payable and Receivable Settlement
United States Dollar		5,550,000			15,318,000			Other income, net		Accounts Payable and Receivable Settlement

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Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Tabular disclosure of derivative liabilities at fair value.

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Tabular disclosure of the notional amounts of outstanding derivative positions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5579245-113959

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