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Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2016
Derivative Instruments and Hedges, Assets [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions
Foreign exchange rate forward contracts—The purpose of these instruments is to hedge the risk of changes in future cash flows of anticipated purchase or sale commitments denominated in foreign currencies and recorded assets and liabilities in our consolidated balance sheets. At June 30, 2016, we held the following material net positions:
 
Net Notional Amount
Bought (Sold)
(In millions)
 
 
USD Equivalent
Australian dollar
52.1

 
38.8

Brazilian real
500.6

 
156.0

British pound
120.2

 
161.8

Canadian dollar
(192.8
)
 
(148.9
)
Euro
98.8

 
109.8

Malaysian ringgit
69.3

 
17.2

Norwegian krone
1,429.1

 
170.5

Singapore dollar
119.7

 
88.9

U.S. dollar
(694.4
)
 
(694.4
)
Foreign exchange rate instruments embedded in purchase and sale contracts—The purpose of these instruments is to match offsetting currency payments and receipts for particular projects, or comply with government restrictions on the currency used to purchase goods in certain countries. At June 30, 2016, our portfolio of these instruments included the following material net positions:
 
Net Notional Amount
Bought (Sold)
(In millions)
 
 
USD Equivalent
Brazilian real
(42.1
)
 
(13.1
)
Euro
(28.9
)
 
(32.1
)
Norwegian krone
(272.1
)
 
(32.5
)
U.S. dollar
79.1

 
79.1
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
 
June 30, 2016
 
December 31, 2015
(In millions)
Assets
 
Liabilities
 
Assets
 
Liabilities
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
Foreign exchange contracts:
 
 
 
 
 
 
 
Current – Derivative financial instruments
$
116.0

 
$
189.0

 
$
307.6

 
$
488.2

Long-term – Derivative financial instruments
0.5

 
1.6

 
0.1

 
0.5

Total derivatives designated as hedging instruments
116.5

 
190.6

 
307.7

 
488.7

Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
Foreign exchange contracts:
 
 
 
 
 
 
 
Current – Derivative financial instruments
35.8

 
27.5

 
26.3

 
28.7

Long-term – Derivative financial instruments
2.1

 
5.4

 
—

 
—

Total derivatives not designated as hedging instruments
37.9

 
32.9

 
26.3

 
28.7

Total derivatives
$
154.4

 
$
223.5

 
$
334.0

 
$
517.4
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)
 
Gain (Loss) Recognized in
OCI (Effective Portion)
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(In millions)
2016
 
2015
 
2016
 
2015
Foreign exchange contracts
$
(11.3
)
 
$
30.3

 
18.1

 
(24.2
)
Derivative Instruments, Gain (Loss) in Income
Location of Gain (Loss) Reclassified from 
Accumulated OCI into Income
Gain (Loss) Reclassified from Accumulated
OCI into Income (Effective Portion)
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(In millions)
2016
 
2015
 
2016
 
2015
Foreign exchange contracts:
 
 
 
 
 
 
 
Revenue
$
(13.7
)
 
$
(35.3
)
 
$
(51.6
)
 
$
(61.7
)
Cost of sales
6.3

 
7.5

 
15.2

 
19.0

Selling, general and administrative expense
0.1

 
(0.4
)
 
(0.1
)
 
(0.9
)
Research and development expense
—

 
(0.1
)
 
—

 
(0.1
)
Net interest expense
—

 
1.0

 
—

 
—

Total
$
(7.3
)
 
$
(27.3
)
 
$
(36.5
)
 
$
(43.7
)
 
 
 
 
 
 
 
 
Location of Gain (Loss) Recognized in Income
Gain (Loss) Recognized in Income (Ineffective Portion
and Amount Excluded from Effectiveness Testing)
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(In millions)
2016
 
2015
 
2016
 
2015
Foreign exchange contracts:
 
 
 
 
 
 
 
Revenue
$
3.4

 
$
6.4

 
$
7.0

 
$
6.9

Cost of sales
(4.7
)
 
(4.5
)
 
(9.8
)
 
(10.3
)
Selling, general and administrative expense
—

 
—

 
0.1

 
—

Net interest expense
—

 
(0.1
)
 
—

 
(0.1
)
Total
$
(1.3
)
 
$
1.8

 
$
(2.7
)
 
$
(3.5
)
Schedule of Other Derivatives Not Designated as Hedging Instruments
Location of Gain (Loss) Recognized in Income
Gain (Loss) Recognized in Income on Derivatives
(Instruments Not Designated as Hedging Instruments)
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(In millions)
2016
 
2015
 
2016
 
2015
Foreign exchange contracts:
 
 
 
 
 
 
 
Revenue
$
(0.9
)
 
$
(3.8
)
 
$
(2.8
)
 
$
(5.3
)
Cost of sales
—

 
1.4

 
1.3

 
1.5

Other income (expense), net (1)
10.4

 
(6.9
)
 
4.4

 
21.0

Total
$
9.5

 
$
(9.3
)
 
$
2.9

 
$
17.2
Offsetting Assets
 
June 30, 2016
 
December 31, 2015
(In millions)
Gross Amount Recognized
 
Gross Amounts Not Offset Permitted Under Master Netting Agreements
 
Net Amount
 
Gross Amount Recognized
 
Gross Amounts Not Offset Permitted Under Master Netting Agreements
 
Net Amount
Derivative assets
$
154.4

 
$
(140.2
)
 
$
14.2

 
$
334.0

 
$
(316.8
)
 
$
17.2
Offsetting Liabilities
 
June 30, 2016
 
December 31, 2015
(In millions)
Gross Amount Recognized
 
Gross Amounts Not Offset Permitted Under Master Netting Agreements
 
Net Amount
 
Gross Amount Recognized
 
Gross Amounts Not Offset Permitted Under Master Netting Agreements
 
Net Amount
Derivative liabilities
$
223.5

 
$
(140.2
)
 
$
83.3

 
$
517.4

 
$
(316.8
)
 
$
200.6