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Derivative Instruments and Hedging Activities (Tables)
 3 Months Ended
Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments Outstanding As of June 30, 2020, the Company had the following outstanding forward foreign exchange contracts (all outstanding contracts have maturities of less than 13 months from June 30, 2020):

June 30, 2020
Foreign Currency
 
Foreign Currency Amount
 
US Dollar Amount
 
Weighted Average Exchange Rate Per $1 USD
 
 
(Amounts in millions)
 
(Amounts in millions)
 
 
British Pound Sterling
 

£3.8

in exchange for

$4.7

 
£0.80
Euro
 

€2.1

in exchange for

$2.4

 
€0.89
Canadian Dollar
 

C$5.4

in exchange for

$4.0

 
C$1.34
Australian Dollar
 

A$0.9

in exchange for

$0.8

 
A$1.25

As of March 31, 2020, the Company had the following pay-fixed interest rate swaps outstanding (all related to the Company's LIBOR-based debt, see Note 4 and Note 5):
Effective Date
 
Notional Amount (in millions)
 
Fixed Rate Paid
 
Maturity Date
May 23, 2018
 

$1,000.0

 
2.915%
 
March 24, 2025
June 25, 2018
 

$200.0

 
2.723%
 
March 23, 2025
July 31, 2018
 

$300.0

 
2.885%
 
March 23, 2025
December 24, 2018
 

$50.0

 
2.744%
 
March 23, 2025
December 24, 2018
 

$100.0

 
2.808%
 
March 23, 2025
December 24, 2018
 

$50.0

 
2.728%
 
March 23, 2025
Total
 

$1,700.0

 
 
 
 

Key terms of the new designated cash flow hedge pay-fixed interest rate swaps outstanding at June 30, 2020 are presented below:
Effective Date
 
Notional Amount (in millions)
 
Fixed Rate Paid
 
Maturity Date(1)
May 19, 2020
 

$700.0

 
1.923%
 
March 23, 2030
May 19, 2020
 

$350.0

 
2.531%
 
March 23, 2027
June 15, 2020
 

$150.0

 
2.343%
 
March 23, 2027
Total
 

$1,200.0

 
 
 
 

__________________
(1)
Subject to a mandatory early termination date of March 23, 2025.
Key terms of the new offsetting pay-variable receive-fixed interest rate swaps outstanding at June 30, 2020 are presented below (not designated as hedges):
Effective Date
 
Notional Amount (in millions)
 
Fixed Rate Received
 
Maturity Date
May 19, 2020
 

$700.0

 
2.915%
 
March 24, 2025
May 19, 2020
 

$300.0

 
2.885%
 
March 23, 2025
May 19, 2020
 

$50.0

 
2.744%
 
March 23, 2025
June 15, 2020
 

$100.0

 
2.808%
 
March 23, 2025
June 15, 2020
 

$50.0

 
2.728%
 
March 23, 2025
Total
 

$1,200.0

 
 
 
 
Schedule of Derivative Instruments, Statements of Financial Performance And Comprehensive Income, Location And Effect The following table presents the pre-tax effect of the Company's derivatives on the accompanying unaudited condensed consolidated statements of operations and comprehensive loss for the three months ended June 30, 2020 and 2019:
 
Three Months Ended
 
June 30,
 
2020
 
2019
 
(Amounts in millions)
Derivatives designated as cash flow hedges:
 
 
 
Forward exchange contracts
 
 
 
Gain (loss) recognized in accumulated other comprehensive loss
$
(0.1
)
 
$
—

Gain (loss) reclassified from accumulated other comprehensive loss into direct operating expense
$
(0.1
)
 
$
1.1

Interest rate swaps
 
 
 
Loss recognized in accumulated other comprehensive loss
$
(17.7
)
 
$
(45.9
)
Loss reclassified from accumulated other comprehensive loss into interest expense
$
(7.4
)
 
$
(1.8
)
 
 
 
 
Derivatives not designated as cash flow hedges:
 
 
 
Forward exchange contracts
 
 
 
Gain (loss) recognized in direct operating expense
$
0.3

 
$
—

Interest rate swaps
 
 
 
Loss reclassified from accumulated other comprehensive loss into interest expense
$
(3.4
)
 
$
—

 
 
 
 
Total direct operating expense on consolidated statements of operations
$
423.0

 
$
568.0

Total interest expense on consolidated statements of operations
$
44.4

 
$
49.0
Derivative Instruments by Balance Sheet Location
As of June 30, 2020 and March 31, 2020, the Company had the following amounts recorded in the accompanying unaudited condensed consolidated balance sheets related to the Company's use of derivatives:

 
 
June 30, 2020
 
 
Other Current Assets
 
Accounts Payable and Accrued Liabilities
 
Other Non-Current Liabilities
 
 
(Amounts in millions)
Derivatives designated as cash flow hedges:
 
 
 
 
 
 
Forward exchange contracts
 
$
0.2

 
$
0.2

 
$
—

Interest rate swaps
 
—

 
—

 
56.1

Derivatives not designated as cash flow hedges:
 
 
 
 
 
 
Interest rate swaps(1)
 
—

 
—

 
139.8

Fair value of derivatives
 
$
0.2

 
$
0.2

 
$
195.9

________________
(1)
Includes $144.2 million representing the financing element of certain hybrid instruments, which is offset by the new pay-variable receive-fixed interest rate swaps outstanding at June 30, 2020.

 
 
March 31, 2020
 
 
Other Current Assets
 
Accounts Payable and Accrued Liabilities
 
Other Non-Current Liabilities
 
 
(Amounts in millions)
Derivatives designated as cash flow hedges:
 
 
 
 
 
 
Forward exchange contracts
 
$
0.6

 
$
0.5

 
$
—

Interest rate swaps
 
—

 
—

 
187.9

Derivatives not designated as cash flow hedges:
 
 
 
 
 
 
Forward exchange contracts
 
—

 
0.4

 
—

Fair value of derivatives
 
$
0.6

 
$
0.9

 
187.9