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Derivative Instruments (Tables)
3 Months Ended
Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments Measured at Fair Value in Statement of Financial Position
The Company's derivative portfolio is comprised of the following instruments as of March 31, 2017 and December 31, 2016.
March 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative Assets
 
Derivative Liabilities
(In millions)
Fair Value Hierarchy Level
 
Notional Amount
 
Balance Sheet Caption
 
Fair Value
 
Balance Sheet Caption
 
Fair Value
Derivatives designated as hedges:
 
 
 
 
 
 
 
 
 
 
 
Cross-currency swap agreements
Level 2
 
$
730.9

 
Other long-term assets
 
$
9.4

 
Other long-term liabilities
 
$
(8.5
)
Cross-currency swap agreements
Level 2
 
2.0

 
Other current assets
 
0.1

 
Other current liabilities
 

Interest rate swaps
Level 2
 
106.9

 
Other current assets
 

 
Other current liabilities
 
(1.7
)
Derivatives not designated as hedges:
 
 
 
 
 
 
 
 
 
 
 
Foreign currency option and forward contracts
Level 2
 
614.3

 
Other current assets
 
14.6

 
Other current liabilities
 
(0.9
)
Foreign currency option and forward contracts
Level 2
 
588.6

 
Other long-term assets
 
16.1

 
Other long-term liabilities
 
(3.1
)
Total
 
 
 
 
 
 
$
40.2

 
 
 
$
(14.2
)
December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative Assets
 
Derivative Liabilities
(In millions)
Fair Value Hierarchy Level
 
Notional Amount
 
Balance Sheet Caption
 
Fair Value
 
Balance Sheet Caption
 
Fair Value
Derivatives designated as hedges:
 
 
 
 
 
 
 
 
 
 
 
Cross-currency swap agreements
Level 2
 
$
730.9

 
Other long-term assets
 
$
11.9

 
Other long-term liabilities
 
$
(6.9
)
Cross-currency swap agreements
Level 2
 
3.3

 
Other current assets
 
0.1

 
Other current liabilities
 

Interest rate swaps
Level 2
 
105.4

 
Other current assets
 

 
Other current liabilities
 
(2.3
)
Derivatives not designated as hedges:
 
 
 
 
 
 
 
 
 
 
 
Foreign currency option and forward contracts
Level 2
 
552.2

 
Other current assets
 
18.8

 
Other current liabilities
 
(1.0
)
Foreign currency option and forward contracts
Level 2
 
742.6

 
Other long-term assets
 
26.7

 
Other long-term liabilities
 
(5.8
)
Total
 
 
 
 
 
 
$
57.5

 
 
 
$
(16.0
)
Schedule of Gains and Losses Recognized on the Balance Sheet for Derivative Instruments
The following table indicates the amount of pre-tax gains/(losses) that have been recognized in accumulated other comprehensive income (loss) in the condensed consolidated balance sheets and gains/(losses) recognized in income (loss) before income tax provision (benefit) in the condensed consolidated statements of operations for derivative and nonderivative instruments:
 
Recognized in Accumulated Other Comprehensive Income (Loss)
 
Recognized in Income (Loss) Before Income Tax Provision (Benefit)
(In millions)
Three Months Ended March 31, 2017
 
Three Months Ended March 31, 2016
 
Three Months Ended March 31, 2017
 
Three Months Ended March 31, 2016
Derivatives designated as hedges:
 
 
 
 
 
 
 
Cross-currency swap agreements
$
(4.1
)
 
$
(32.8
)
 
$

 
$

Interest rate swaps
0.5

 
1.1

 

 

Derivatives not designated as hedges:
 
 
 
 
 
 
 
Interest rate swaps

 

 

 
0.2

Foreign currency option and forward contracts

 

 
(10.2
)
 
(2.4
)
Nonderivatives designated as hedges:
 
 
 
 
 
 
 
Foreign currency denominated notes
0.6

 
(1.7
)
 

 
$

Total
$
(3.0
)
 
$
(33.4
)
 
$
(10.2
)
 
$
(2.2
)