Fair Value of Financial Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Carrying Value and Fair Value of Other Financial Instruments

The carrying value and fair value of other financial instruments are as follows (in millions):

	March 31, 2020				December 31, 2019
	Carrying Value		Fair Value		Carrying Value		Fair Value
2024 Notes - 2.900%	$	599.2	$	580.1	$	599.2	$	602.1
2029 Notes - 3.450%	598.3		536.3		598.2		603.1
2027 Notes - 1.450%	549.3		478.9		—		—
GDS Equity investment	133.4		133.4		118.7		118.7

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table summarizes the Company's derivative positions as of March 31, 2020 and December 31, 2019, (in millions):

						March 31, 2020				December 31, 2019
		Maturity Date	Notional Amount		Hedged Risk	Asset		Liability		Asset		Liability
Undesignated derivatives
Cross Currency Swaps
	EUR - USD	01/15/2020	$	265.3	Foreign currency exchange	$	—	$	—	$	—	$	2.1
	EUR - USD	01/15/2020	25.6		Foreign currency exchange	—		—		—		0.2
Designated derivatives
Cross Currency Swaps
	EUR - USD	3/29/2023	250.0		Net investment hedge	0.4		—		—		3.8
	EUR - USD	3/29/2023	250.0		Net investment hedge	0.2		—		—		3.9
	EUR - USD	01/15/2020	155.9		Net investment hedge	—		—		—		1.4
Interest Rate Swaps
	USD Libor	3/29/2023	300.0		Interest rate hedge - Float to fixed	—		7.9		3.5		—
Total			$	1,246.8		$	0.6	$	7.9	$	3.5	$	11.4

Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The fair values of qualifying instruments used in hedging transactions as of March 31, 2020 and December 31, 2019 are as follows (in millions):

	Balance Sheet Location	March 31, 2020		December 31, 2019
Derivatives Designated as Hedging Instruments
Assets:
Cross-Currency Swaps	Other Assets	$	0.6	$	—
Interest Rate Swap	Other Assets	—		3.5
Total		$	0.6	$	3.5
Liabilities:
Interest Rate Swap	Other Liabilities	$	7.9	$	—
Cross-Currency Swaps	Other Liabilities	—		9.1
Total		$	7.9	$	9.1

Schedule of Derivative Instruments

The following table presents the effect of our derivative financial instruments on our accompanying condensed consolidated financial statements (in millions):

	For the Three Months Ended March 31,
	2020			2019
Derivatives in Cash Flow Hedging Relationships
Cross-Currency and Interest Rate Swaps:
Amount of gain (loss) recognized in OCI for derivatives	$	(1.1	)	$	2.7
Amount of gain (loss) reclassified from accumulated OCI for derivatives	$	—		$	—
Amount of gain (loss) recognized in earnings	$	—		$	—