Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative instruments

The notional amount of the Company's derivatives is summarized as follows (in millions):

	As of
	March 31, 2020		December 31, 2019
Designated derivatives:
Cash flow hedges	$	526.0	$	484.0
Interest rate swap contracts	300.0		300.0
Total designated derivatives	826.0		784.0
Non-designated derivatives	174.4		162.9
Total	$	1,000.4	$	946.9

Schedule of Derivative Assets at Fair Value

The fair value of derivative instruments on the Consolidated Balance Sheets was as follows:

		As of
	Balance Sheet Location	March 31, 2020		December 31, 2019
Derivative assets:
Derivatives designated as hedging instruments:
Foreign currency contracts as cash flow hedges	Other current assets	$	—	$	2.2
Foreign currency contracts as cash flow hedges	Other long-term assets	0.1		0.3
Interest rate swap designated as fair value hedges	Other long-term assets	25.6		—
Total derivatives designated as hedging instruments		$	25.7	$	2.5
Derivatives not designated as hedging instruments	Other current assets	1.0		—
Total derivative assets		$	26.7	$	2.5
Derivative liabilities:
Derivatives designated as hedging instruments:
Foreign currency contracts as cash flow hedges	Other accrued liabilities	$	27.6	$	6.6
Foreign currency contracts as cash flow hedges	Other long-term liabilities	4.2		—
Interest rate swap designated as fair value hedges	Other long-term liabilities	—		3.1
Total derivatives designated as hedging instruments		$	31.8	$	9.7
Derivatives not designated as hedging instruments	Other accrued liabilities	0.6		0.2
Total derivative liabilities		$	32.4	$	9.9

Schedule of Derivative Liabilities at Fair Value

The fair value of derivative instruments on the Consolidated Balance Sheets was as follows:

		As of
	Balance Sheet Location	March 31, 2020		December 31, 2019
Derivative assets:
Derivatives designated as hedging instruments:
Foreign currency contracts as cash flow hedges	Other current assets	$	—	$	2.2
Foreign currency contracts as cash flow hedges	Other long-term assets	0.1		0.3
Interest rate swap designated as fair value hedges	Other long-term assets	25.6		—
Total derivatives designated as hedging instruments		$	25.7	$	2.5
Derivatives not designated as hedging instruments	Other current assets	1.0		—
Total derivative assets		$	26.7	$	2.5
Derivative liabilities:
Derivatives designated as hedging instruments:
Foreign currency contracts as cash flow hedges	Other accrued liabilities	$	27.6	$	6.6
Foreign currency contracts as cash flow hedges	Other long-term liabilities	4.2		—
Interest rate swap designated as fair value hedges	Other long-term liabilities	—		3.1
Total derivatives designated as hedging instruments		$	31.8	$	9.7
Derivatives not designated as hedging instruments	Other accrued liabilities	0.6		0.2
Total derivative liabilities		$	32.4	$	9.9