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Equity (Tables)
 6 Months Ended
Jun. 30, 2017
Equity [Abstract]  
Summary of Changes in the Components of Accumulated Other Comprehensive Income (Loss)
The following table displays the changes in the components of accumulated other comprehensive income (loss) (“AOCI”) (in millions):
 
 
Derivatives
 
Pensions
 
Foreign Currency Translation
 
Accumulated Other Comprehensive Income (Loss)
Balances at December 31, 2016
$
533.1

 
$
(32.8
)
 
$
(1,855.7
)
 
$
(1,355.4
)
Foreign currency translation adjustment
—

 
—

 
461.2

 
461.2

Net change in fair value of derivatives, net of tax
(235.5
)
 
—

 
—

 
(235.5
)
Amounts reclassified to earnings of cash flow hedges, net of tax
11.0

 
—

 
—

 
11.0

Pension and post-retirement benefit plans, net of tax
—

 
(0.1
)
 
—

 
(0.1
)
Amortization of prior service (credits) costs, net of tax
—

 
(0.8
)
 
—

 
(0.8
)
Amortization of actuarial (gains) losses, net of tax
—

 
1.2

 
—

 
1.2

Balances at June 30, 2017
$
308.6

 
$
(32.5
)
 
$
(1,394.5
)
 
$
(1,118.4
)
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
The following table displays the reclassifications out of AOCI (in millions):
 
 
 
 
 
Amounts Reclassified from AOCI
 
 
Affected Line Item in the Statement of Operations
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
Details about AOCI Components
 
 
2017
 
2016
 
2017
 
2016
Gains (losses) on cash flow hedges:
 
 
 
 
 
 
 
 
 
 
Interest rate derivative contracts
 
Interest expense, net
 
$
(9.0
)
 
$
(5.9
)
 
$
(14.9
)
 
$
(9.4
)
Forward-currency contracts
 
Cost of sales
 
(0.8
)
 
(1.1
)
 
0.1

 
2.5

 
 
Total before tax
 
(9.8
)
 
(7.0
)
 
(14.8
)
 
(6.9
)
 
 
Income tax (expense) benefit
 
2.5

 
1.8

 
3.8

 
1.8

 
 
Net of tax
 
$
(7.3
)
 
$
(5.2
)
 
$
(11.0
)
 
$
(5.1
)
Defined benefit pension:
 
 
 
 
 
 
 
 
 
 
Amortization of prior service credits (costs)
 
SG&A (a)
 
$
0.7

 
$
0.8

 
$
1.4

 
$
1.5

Amortization of actuarial gains (losses)
 
SG&A (a)
 
(0.2
)
 
(0.1
)
 
(0.5
)
 
(0.2
)
 
 
Total before tax
 
0.5

 
0.7

 
0.9

 
1.3

 
 
Income tax (expense) benefit
 
(1.1
)
 
(0.2
)
 
(1.3
)
 
(0.5
)
 
 
Net of tax
 
$
(0.6
)
 
$
0.5

 
$
(0.4
)
 
$
0.8

 
 
 
 
 
 
 
 
 
 
 
Total reclassifications
 
Net of tax
 
$
(7.9
)
 
$
(4.7
)
 
$
(11.4
)
 
$
(4.3
)

(a)
Refers to selling, general and administrative expenses in the condensed consolidated statements of operations.