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Derivatives and Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value of Derivative Instruments
The following table details the fair value of our derivative instruments included on our Consolidated Balance Sheets. 
 
 
Cash Flow Hedge
 
Net Investment Hedge
 
Non-Designated as Hedging Instruments
 
Total
 
 
December 31,
 
December 31,
 
December 31,
 
December 31,
(In millions)
 
2017
 
2016
 
2017
 
2016
 
2017
 
2016
 
2017
 
2016
Derivative Assets
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Foreign currency forward contracts
 
$
0.5

 
$
4.9

 
$
—

 
$
—

 
$
3.6

 
$
11.4

 
$
4.1

 
$
16.3

Interest rate and currency swaps
 
—

 
23.9

 
—

 
—

 
—

 
—

 
—

 
23.9

Total Derivative Assets
 
$
0.5

 
$
28.8

 
$
—

 
$
—

 
$
3.6

 
$
11.4

 
$
4.1

 
$
40.2

Derivative Liabilities
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Foreign currency forward contracts
 
$
(2.4
)
 
$
(0.1
)
 
$
—

 
$
—

 
$
(3.3
)
 
$
(11.5
)
 
$
(5.7
)
 
$
(11.6
)
Cross-currency swaps
 
—

 
—

 
—

 
(5.3
)
 
—

 
—

 
—

 
(5.3
)
Total Derivative Liabilities(1)
 
$
(2.4
)
 
$
(0.1
)
 
$
—

 
$
(5.3
)
 
$
(3.3
)
 
$
(11.5
)
 
$
(5.7
)
 
$
(16.9
)
Net Derivatives (2)
 
$
(1.9
)
 
$
28.7

 
$
—

 
$
(5.3
)
 
$
0.3

 
$
(0.1
)
 
$
(1.6
)
 
$
23.3

 
     

(1) 
Excludes €400.0 million of euro-denominated debt ($474.3 million equivalent at December 31, 2017 and $416.7 million equivalent at December 31, 2016), designated as a net investment hedge.
(2) 
The following table reconciles gross positions without the impact of master netting agreements to the balance sheet classification:
 
 
Other Current Assets
 
Other Current Liabilities
 
Other Non-current Assets
 
Other Non-current Liabilities
 
 
December 31,
 
December 31,
 
December 31,
 
December 31,
(In millions)
 
2017
 
2016
 
2017
 
2016
 
2017
 
2016
 
2017
 
2016
Gross position
 
$
4.1

 
$
22.6

 
$
(5.7
)
 
$
(11.6
)
 
$
—

 
$
17.6

 
$
—

 
$
(5.3
)
Reclassified to held for sale
 
—

 
(7.3
)
 
—

 
2.3

 
—

 
(17.6
)
 
—

 
—

Impact of master netting agreements
 
(0.4
)
 
(0.2
)
 
0.4

 
0.2

 
—

 
—

 
—

 
—

Net amounts recognized on the Consolidated Balance Sheet
 
$
3.7

 
$
15.1

 
$
(5.3
)
 
$
(9.1
)
 
$
—

 
$
—

 
$
—

 
$
(5.3
)
Offsetting Assets
The following table reconciles gross positions without the impact of master netting agreements to the balance sheet classification:
 
 
Other Current Assets
 
Other Current Liabilities
 
Other Non-current Assets
 
Other Non-current Liabilities
 
 
December 31,
 
December 31,
 
December 31,
 
December 31,
(In millions)
 
2017
 
2016
 
2017
 
2016
 
2017
 
2016
 
2017
 
2016
Gross position
 
$
4.1

 
$
22.6

 
$
(5.7
)
 
$
(11.6
)
 
$
—

 
$
17.6

 
$
—

 
$
(5.3
)
Reclassified to held for sale
 
—

 
(7.3
)
 
—

 
2.3

 
—

 
(17.6
)
 
—

 
—

Impact of master netting agreements
 
(0.4
)
 
(0.2
)
 
0.4

 
0.2

 
—

 
—

 
—

 
—

Net amounts recognized on the Consolidated Balance Sheet
 
$
3.7

 
$
15.1

 
$
(5.3
)
 
$
(9.1
)
 
$
—

 
$
—

 
$
—

 
$
(5.3
)
Offsetting Liabilities
The following table reconciles gross positions without the impact of master netting agreements to the balance sheet classification:
 
 
Other Current Assets
 
Other Current Liabilities
 
Other Non-current Assets
 
Other Non-current Liabilities
 
 
December 31,
 
December 31,
 
December 31,
 
December 31,
(In millions)
 
2017
 
2016
 
2017
 
2016
 
2017
 
2016
 
2017
 
2016
Gross position
 
$
4.1

 
$
22.6

 
$
(5.7
)
 
$
(11.6
)
 
$
—

 
$
17.6

 
$
—

 
$
(5.3
)
Reclassified to held for sale
 
—

 
(7.3
)
 
—

 
2.3

 
—

 
(17.6
)
 
—

 
—

Impact of master netting agreements
 
(0.4
)
 
(0.2
)
 
0.4

 
0.2

 
—

 
—

 
—

 
—

Net amounts recognized on the Consolidated Balance Sheet
 
$
3.7

 
$
15.1

 
$
(5.3
)
 
$
(9.1
)
 
$
—

 
$
—

 
$
—

 
$
(5.3
)
Effect of Derivative Instruments on Condensed Consolidated Statements of Operations
The following table details the effect of our derivative instruments on our Consolidated Statements of Operations. 
 
 
Amount of Gain (Loss) Recognized in
Earnings on Derivatives
 
 
Year Ended December 31,
(In millions)
 
2017
 
2016
 
2015
Derivatives designated as hedging instruments:
 
 

 
 

 
 

Cash Flow Hedges:
 
 

 
 

 
 

Foreign currency forward contracts(1)(4)
 
$
0.9

 
$
0.6

 
$
9.6

Interest rate and currency swaps(2)(4)
 
(3.4
)
 
(25.9
)
 
25.7

Treasury locks(3)
 
0.1

 
0.1

 
0.1

Sub-total cash flow hedges
 
(2.4
)
 
(25.2
)
 
35.4

Fair Value Hedges:
 
 

 
 

 
 

Interest rate swaps
 
0.5

 
0.5

 
0.4

Derivatives not designated as hedging instruments:
 
 

 
 

 
 

Foreign currency forward contracts(4)
 
(8.4
)
 
(27.6
)
 
32.0

Total
 
$
(10.3
)
 
$
(52.3
)
 
$
67.8

 
     
(1) 
Amounts recognized on the foreign currency forward contracts were included in cost of sales during the years ended December 31, 2017 and 2016 and other income (expense), net during the year ended December 31, 2015.
(2) 
As of December 31, 2017, amounts recognized on the interest rate and currency swaps included a $1.0 million loss on the remeasurement of the hedged debt, which is included in other (expense) income, net and interest expense of $2.5 million related to the hedge of the interest payments. As of December 31, 2016, amounts recognized on the interest rate and currency swaps included a $20.8 million loss which offset a loss on remeasurement of the hedged debt, which is included in other (expense) income, net and interest expense of $5.1 million related to the hedge of interest payments. As of December 31, 2015, amounts recognized on the interest rate and currency swaps included a $31.6 million gain which offset a loss on remeasurement of the hedged debt, which is included in other (expense) income, net and interest expense of $5.9 million related to the hedge of interest payments.
(3) 
Amounts recognized on the treasury locks were included in interest expense which is related to amortization of terminated interest rate swaps.
(4) 
Amounts related to Diversey have been reclassified to earnings from discontinued operations, net of tax on the Consolidated Statement of Operations. For the years ended December 31, 2017, 2016 and 2015 there was $0.8 million, $(32.2) million and $22.4 million reclassified, respectively.