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Fair Value Measurements and Risk (Tables)
 6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]  
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss) [Table Text Block]
The following table presents the amount of gains and losses on derivative instruments designated as net investment hedges, recorded to “currency translation adjustments” within “accumulated other comprehensive income (loss)” for the three and six months ended June 30, 2020 and 2019. There were no reclassifications of the effective portion of net investment hedges out of OCI and into earnings for the periods presented.
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(In millions)
2020

2019
 
2020
 
2019
Derivatives in ASC 815 net investment hedging relationships:
 
 
 
 
 
 
 
Cross-currency swap
$
(3.7
)
 
$
0.5

 
$
2.4

 
$
4.3
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
At June 30, 2020, and December 31, 2019, the carrying amounts, net of unamortized debt issuance costs and discounts (see Note 3), and fair values of Grace’s debt were as follows:
 
June 30, 2020
 
December 31, 2019
(In millions)
Carrying Amount
 
Fair Value
 
Carrying Amount
 
Fair Value
2018 U.S. dollar term loan
$
926.8

 
$
901.3

 
$
930.9

 
$
938.1

Senior notes due 2027
739.5

 
750.8

 
—

 
—

Senior notes due 2021
698.1

 
734.9

 
697.3

 
727.1

Senior notes due 2024
297.9

 
314.3

 
297.6

 
329.2

Other borrowings
55.1

 
55.1

 
54.6

 
54.6

Total debt
$
2,717.4

 
$
2,756.4

 
$
1,980.4

 
$
2,049.0
Schedule of Fair Value of Assets and Liabilities Measured on a Recurring Basis
The following tables present the fair value hierarchy for financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2020, and December 31, 2019:
 
Fair Value Measurements at June 30, 2020, Using

(In millions)
Total
 
Quoted Prices in Active Markets for Identical Assets or Liabilities
(Level 1)
 
Significant Other Observable Inputs
(Level 2)
 
Significant Unobservable Inputs
(Level 3)
Assets
 
 
 
 
 
 
 
Currency derivatives
$
2.0

 
$
—

 
$
2.0

 
$
—

Variable-to-fixed cross-currency swaps
1.0

 
—

 
1.0

 
—

Total Assets
$
3.0

 
$
—

 
$
3.0

 
$
—

Liabilities
 
 
 
 
 
 
 
Interest rate derivatives
$
6.4

 
$
—

 
$
6.4

 
$
—

Total Liabilities
$
6.4

 
$
—

 
$
6.4

 
$
—

 
Fair Value Measurements at December 31, 2019, Using

(In millions)
Total
 
Quoted Prices in Active Markets for Identical Assets or Liabilities
(Level 1)
 
Significant Other Observable Inputs
(Level 2)
 
Significant Unobservable Inputs
(Level 3)
Assets
 
 
 
 
 
 
 
Currency derivatives
$
6.1

 
$
—

 
$
6.1

 
$
—

Variable-to-fixed cross-currency derivatives
3.4

 
—

 
3.4

 
—

Total Assets
$
9.5

 
$
—

 
$
9.5

 
$
—

Liabilities
 
 
 
 
 
 
 
Currency derivatives
$
0.9

 
$
—

 
$
0.9

 
$
—

Interest rate derivatives
3.4

 
—

 
3.4

 
—

Total Liabilities
$
4.3

 
$
—

 
$
4.3

 
$
—
Schedule of the Location and Fair Values of Derivative Instruments Included in the Consolidated Balance Sheets
The following tables present the location and fair values of derivative instruments included in the Consolidated Balance Sheets as of June 30, 2020, and December 31, 2019:
June 30, 2020
(In millions)
Asset Derivatives
 
Liability Derivatives
Balance Sheet
Location
 
Fair Value
 
Balance Sheet
Location
 
Fair Value
Derivatives designated as hedging instruments under ASC 815:
 
 
 
 
 
 
 
Currency contracts
Other current assets
 
$
2.4

 
Other current liabilities
 
$
—

Currency contracts
Other liabilities
 
(0.8
)
 
Other assets
 
—

Interest rate contracts
Other current assets
 
—

 
Other current liabilities
 
2.4

Interest rate contracts
Other assets
 
—

 
Other liabilities
 
4.0

Variable-to-fixed cross-currency swaps
Other current assets
 
1.8

 
Other current liabilities
 
—

Variable-to-fixed cross-currency swaps
Other liabilities
 
(0.8
)
 
Other liabilities
 
—

Derivatives not designated as hedging instruments under ASC 815:
 
 
 
 
 
 
 
Currency contracts
Other current assets
 
0.6

 
Other current liabilities
 
—

Currency contracts
Other current liabilities
 
(0.2
)
 
Other current liabilities
 
—

Total derivatives
 
 
$
3.0

 
 
 
$
6.4

December 31, 2019
(In millions)
Asset Derivatives
 
Liability Derivatives
Balance Sheet
Location
 
Fair Value
 
Balance Sheet
Location
 
Fair Value
Derivatives designated as hedging instruments under ASC 815:
 
 
 
 
 
 
 
Currency contracts
Other current assets
 
$
2.1

 
Other current assets
 
$
(3.1
)
Currency contracts
Other assets
 
4.0

 
Other liabilities
 
4.0

Interest rate contracts
Other current assets
 
—

 
Other current liabilities
 
1.0

Interest rate contracts
Other assets
 
—

 
Other liabilities
 
2.4

Variable-to-fixed cross-currency swaps
Other current assets
 
10.2

 
Other current liabilities
 
—

Variable-to-fixed cross-currency swaps
Other liabilities
 
(6.8
)
 
Other liabilities
 
—

Derivatives not designated as hedging instruments under ASC 815:
 
 
 
 
 
 
 
Currency contracts
Other current assets
 
—

 
Other current assets
 
(0.2
)
Currency contracts
Other current assets
 
—

 
Other current liabilities
 
0.2

Total derivatives
 
 
$
9.5

 
 
 
$
4.3
Schedule of Gain (Loss) on Derivative Instruments
The following tables present the location and amount of gains and losses on derivative instruments included in the Consolidated Statements of Operations or, when applicable, gains and losses initially recognized in other comprehensive income (loss) (“OCI”) for the three and six months ended June 30, 2020 and 2019:
Three Months Ended June 30, 2020
(In millions)
Amount of Gain (Loss) Recognized in OCI on Derivatives
 
Location of Gain (Loss) Reclassified from Accumulated OCI into Income
 
Amount of Gain (Loss) Reclassified from OCI into Income
Derivatives in ASC 815 cash flow hedging relationships:
 
 
 
 
Interest rate contracts
$
(0.4
)
 
Interest expense
 
$
(0.3
)
Currency contracts(1)
0.2

 
Other expense
 
1.9

Variable-to-fixed cross-currency swaps
2.1

 
Interest expense
 
1.8

Variable-to-fixed cross-currency swaps
(10.1
)
 
Other expense
 
(10.1
)
Total derivatives
$
(8.2
)
 
 
 
$
(6.7
)
 
 
 
 
 
 
 
 
Location of Gain (Loss) Recognized in Income on Derivatives
 
Amount of Gain (Loss) Recognized in Income on Derivatives
Derivatives not designated as hedging instruments under ASC 815:
 
 
 
 
Currency contracts
 
Other expense
 
$
1.1

___________________________________________________________________________________________________________________
(1)
Amount of gain (loss) recognized in OCI includes $(1.7) million excluded from the assessment of effectiveness for which the difference between changes in fair value and periodic amortization is recorded in OCI.
Six Months Ended June 30, 2020
(In millions)
Amount of Gain (Loss) Recognized in OCI on Derivatives
 
Location of Gain (Loss) Reclassified from Accumulated OCI into Income
 
Amount of Gain (Loss) Reclassified from OCI into Income
Derivatives in ASC 815 cash flow hedging relationships:
 
 
 
 
Interest rate contracts
$
(3.5
)
 
Interest expense
 
$
(0.5
)
Currency contracts(1)
2.7

 
Other expense
 
3.2

Variable-to-fixed cross-currency swaps
5.6

 
Interest expense
 
4.3

Variable-to-fixed cross-currency swaps
(2.5
)
 
Other expense
 
(2.5
)
Total derivatives
$
2.3

 
 
 
$
4.5

 
 
 
 
 
 
 
 
Location of Gain (Loss) Recognized in Income on Derivatives
 
Amount of Gain (Loss) Recognized in Income on Derivatives
Derivatives not designated as hedging instruments under ASC 815:
 
 
 
 
Currency contracts
 
Other expense
 
$
(0.8
)
___________________________________________________________________________________________________________________
(1)
Amount of gain (loss) recognized in OCI includes $(0.6) million excluded from the assessment of effectiveness for which the difference between changes in fair value and periodic amortization is recorded in OCI.
Three Months Ended June 30, 2019
(In millions)
Amount of Gain (Loss) Recognized in OCI on Derivatives
 
Location of Gain (Loss) Reclassified from Accumulated OCI into Income
 
Amount of Gain (Loss) Reclassified from OCI into Income
Derivatives in ASC 815 cash flow hedging relationships:
 
 
 
 
Interest rate contracts
$
(1.8
)
 
Interest expense
 
$
—

Currency contracts(1)
(0.8
)
 
Other expense
 
(1.3
)
Variable-to-fixed cross-currency swaps
(2.2
)
 
Interest expense
 
3.6

Variable-to-fixed cross-currency swaps
(5.4
)
 
Other expense
 
(5.4
)
Total derivatives
$
(10.2
)
 
 
 
$
(3.1
)
 
 
 
 
 
 
 
 
Location of Gain (Loss) Recognized in Income on Derivatives
 
Amount of Gain (Loss) Recognized in Income on Derivatives
Derivatives not designated as hedging instruments under ASC 815:
 
 
 
 
Currency contracts
 
Other expense
 
$
0.1


___________________________________________________________________________________________________________________
(1)
Amount of gain (loss) recognized in OCI includes $0.7 million excluded from the assessment of effectiveness for which the difference between changes in fair value and periodic amortization is recorded in OCI.
Six Months Ended June 30, 2019
(In millions)
Amount of Gain (Loss) Recognized in OCI on Derivatives
 
Location of Gain (Loss) Reclassified from Accumulated OCI into Income
 
Amount of Gain (Loss) Reclassified from OCI into Income
Derivatives in ASC 815 cash flow hedging relationships:
 
 
 
 
Interest rate contracts
$
(2.9
)
 
Interest expense
 
$
—

Currency contracts(1)
0.8

 
Other expense
 
—

Variable-to-fixed cross-currency swaps
(2.1
)
 
Interest expense
 
7.2

Variable-to-fixed cross-currency swaps
3.0

 
Other expense
 
3.0

Total derivatives
$
(1.2
)
 
 
 
$
10.2

 
 
 
 
 
 
 
 
Location of Gain (Loss) Recognized in Income on Derivatives
 
Amount of Gain (Loss) Recognized in Income on Derivatives
Derivatives not designated as hedging instruments under ASC 815:
 
 
 
 
Currency contracts
 
Other expense
 
$
0.1

___________________________________________________________________________________________________________________
(1)
Amount of gain (loss) recognized in OCI includes $1.4 million excluded from the assessment of effectiveness for which the difference between changes in fair value and periodic amortization is recorded in OCI.
The following tables present the total amounts of income and expense line items presented in the Consolidated Statements of Operations in which the effects of cash flow hedges are reported.
 
Three Months Ended June 30,
 
2020
 
2019
(In millions)
Interest expense
 
Other income (expense)
 
Interest expense
 
Other income (expense)
Total amounts of income and expense line items in the Consolidated Statements of Operations in which the effects of cash flow hedges are recorded
$
(19.2
)
 
$
8.6

 
$
(19.6
)
 
$
(0.1
)
Gain (loss) on cash flow hedging relationships in ASC 815
 
 
 
 
 
 
 
Interest rate contracts
 
 
 
 
 
 
 
Gain (loss) reclassified from accumulated OCI into income
$
(0.3
)
 
$
—

 
$
—

 
$
—

Variable-to-fixed cross-currency swaps
 
 
 
 
 
 
 
Gain (loss) reclassified from accumulated OCI into income
1.8

 
(10.1
)
 
3.6

 
(5.4
)
Currency contracts
 
 
 
 
 
 
 
Gain (loss) reclassified from accumulated OCI into income
—

 
1.9

 
—

 
(1.3
)
Amount excluded from effectiveness testing recognized in earnings based on amortization approach (included in above)
—

 
0.4

 
—

 
—

 
Six Months Ended June 30,
 
2020
 
2019
(In millions)
Interest expense
 
Other income (expense)
 
Interest expense
 
Other income (expense)
Total amounts of income and expense line items in the Consolidated Statements of Operations in which the effects of cash flow hedges are recorded
$
(37.5
)
 
$
17.4

 
$
(39.6
)
 
$
2.1

Gain (loss) on cash flow hedging relationships in ASC 815
 
 
 
 
 
 
 
Interest rate contracts
 
 
 
 
 
 
 
Gain (loss) reclassified from accumulated OCI into income
$
(0.5
)
 
$
—

 
$
—

 
$
—

Variable-to-fixed cross-currency swaps
 
 
 
 
 
 
 
Gain (loss) reclassified from accumulated OCI into income
4.3

 
(2.5
)
 
7.2

 
3.0

Currency contracts
 
 
 
 
 
 
 
Gain (loss) reclassified from accumulated OCI into income
—

 
3.2

 
—

 
—

Amount excluded from effectiveness testing recognized in earnings based on amortization approach (included in above)
—

 
1.1

 
—

 
—