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Comprehensive Earnings (Tables)
 9 Months Ended
Sep. 30, 2018
Equity [Abstract]  
Accumulated Other Comprehensive Loss
Accumulated other comprehensive loss, as reflected on the Condensed Consolidated Balance Sheets, is comprised of the following:
(In millions)
September 30,
2018
 
December 31,
2017
Accumulated other comprehensive loss:
 
 
 
Net unrealized gain on marketable securities, net of tax
$
—

 
$
10.1

Net unrecognized (losses) gains and prior service cost related to defined benefit plans, net of tax
(0.5
)
 
6.0

Net unrecognized losses on derivatives in cash flow hedging relationships, net of tax
(96.9
)
 
(3.7
)
Net unrecognized losses on derivatives in net investment hedging relationships, net of tax
(162.1
)
 
(239.8
)
Foreign currency translation adjustment
(1,231.4
)
 
(133.8
)
 
$
(1,490.9
)
 
$
(361.2
)
Components of Other Comprehensive Loss
Components of accumulated other comprehensive loss, before tax, consist of the following, for the three and nine months ended September 30, 2018 and 2017:
 
Three Months Ended September 30, 2018
Gains and Losses on Derivatives in Cash Flow Hedging Relationships
 
Gains and Losses on Net Investment Hedges
 
Gains and Losses on Marketable Securities
 
Defined Pension Plan Items
 
Foreign Currency Translation Adjustment
 
Totals
(In millions)
Foreign Currency Forward Contracts
 
Interest Rate Swaps
 
Total
 
 
 
 
 
 
 
 
 
 
Balance at June 30, 2018, net of tax
 
 
 
 
$
(63.0
)
 
$
(180.0
)
 
$
—

 
$
4.3

 
$
(960.6
)
 
$
(1,199.3
)
Other comprehensive (loss) earnings before reclassifications, before tax
 
 
 
 
(52.9
)
 
18.8

 
—

 
(7.0
)
 
(270.8
)
 
(311.9
)
Amounts reclassified from accumulated other comprehensive loss, before tax:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gain on foreign exchange forward contracts classified as cash flow hedges, included in net sales
(0.9
)
 
 
 
(0.9
)
 
 
 
 
 
 
 
 
 
(0.9
)
Loss on interest rate swaps classified as cash flow hedges, included in interest expense
 
 
1.9

 
1.9

 
 
 
 
 
 
 
 
 
1.9

Amortization of prior service costs included in SG&A
 
 
 
 
 
 
 
 
 
 
0.1

 
 
 
0.1

Amortization of actuarial loss included in SG&A
 
 
 
 
 
 
 
 
 
 
0.1

 
 
 
0.1

Net other comprehensive (loss) earnings, before tax
 
 
 
 
(51.9
)
 
18.8

 
—

 
(6.8
)
 
(270.8
)
 
(310.7
)
Income tax (benefit) provision
 
 
 
 
(18.0
)
 
0.9

 
—

 
(2.0
)
 
—

 
(19.1
)
Balance at September 30, 2018, net of tax
 
 
 
 
$
(96.9
)
 
$
(162.1
)
 
$
—

 
$
(0.5
)
 
$
(1,231.4
)
 
$
(1,490.9
)

 
Nine Months Ended September 30, 2018
Gains and Losses on Derivatives in Cash Flow Hedging Relationships
 
Gains and Losses on Net Investment Hedges
 
Gains and Losses on Marketable Securities
 
Defined Pension Plan Items
 
Foreign Currency Translation Adjustment
 
Totals
(In millions)
Foreign Currency Forward Contracts
 
Interest Rate Swaps
 
Total
 
 
 
 
 
 
 
 
 
 
Balance at December 31, 2017, net of tax
 
 
 
 
$
(3.7
)
 
$
(239.8
)
 
$
10.1

 
$
6.0

 
$
(133.8
)
 
$
(361.2
)
Other comprehensive (loss) earnings before reclassifications, before tax
 
 
 
 
(143.7
)
 
78.7

 
(0.1
)
 
(8.7
)
 
(1,097.6
)
 
(1,171.4
)
Amounts reclassified from accumulated other comprehensive loss, before tax:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gain on foreign exchange forward contracts classified as cash flow hedges, included in net sales
(8.1
)
 
 
 
(8.1
)
 
 
 
 
 
 
 
 
 
(8.1
)
Loss on interest rate swaps classified as cash flow hedges, included in interest expense
 
 
5.7

 
5.7

 
 
 
 
 
 
 
 
 
5.7

Amortization of prior service costs included in SG&A
 
 
 
 
 
 
 
 
 
 
0.3

 
 
 
0.3

Amortization of actuarial loss included in SG&A
 
 
 
 
 
 
 
 
 
 
0.1

 
 
 
0.1

Net other comprehensive (loss) earnings, before tax
 
 
 
 
(146.1
)
 
78.7

 
(0.1
)
 
(8.3
)
 
(1,097.6
)
 
(1,173.4
)
Income tax (benefit) provision
 
 
 
 
(50.4
)
 
1.0

 
—

 
(1.8
)
 
—

 
(51.2
)
Cumulative effect of the adoption of new accounting standards
 
 
 
 
2.5

 
—

 
(10.0
)
 
—

 
—

 
(7.5
)
Balance at September 30, 2018, net of tax
 
 
 
 
$
(96.9
)
 
$
(162.1
)
 
$
—

 
$
(0.5
)
 
$
(1,231.4
)
 
$
(1,490.9
)

 
Three Months Ended September 30, 2017
Gains and Losses on Derivatives in Cash Flow Hedging Relationships
 
Gains and Losses on Net Investment Hedges
 
Gains and Losses on Marketable Securities
 
Defined Pension Plan Items
 
Foreign Currency Translation Adjustment
 
Totals
(In millions)
Foreign Currency Forward Contracts
 
Interest Rate Swaps
 
Total
 
 
 
 
 
 
 
 
 
 
Balance at June 30, 2017, net of tax
 
 
 
 
$
(17.1
)
 
$
(132.5
)
 
$
22.3

 
$
0.5

 
$
(828.8
)
 
$
(955.6
)
Other comprehensive (loss) earnings before reclassifications, before tax
 
 
 
 
(4.4
)
 
(72.1
)
 
(8.9
)
 
0.8

 
423.0

 
338.4

Amounts reclassified from accumulated other comprehensive loss, before tax:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gain on foreign exchange forward contracts classified as cash flow hedges, included in net sales
(2.0
)
 
 
 
(2.0
)
 
 
 
 
 
 
 
 
 
(2.0
)
Loss on interest rate swaps classified as cash flow hedges, included in interest expense
 
 
1.9

 
1.9

 
 
 
 
 
 
 
 
 
1.9

Amortization of prior service costs included in SG&A
 
 
 
 
 
 
 
 
 
 
0.1

 
 
 
0.1

Amortization of actuarial loss included in SG&A
 
 
 
 
 
 
 
 
 
 
0.2

 
 
 
0.2

Net other comprehensive (loss) earnings, before tax
 
 
 
 
(4.5
)
 
(72.1
)
 
(8.9
)
 
1.1

 
423.0

 
338.6

Income tax (benefit) provision
 
 
 
 
(2.8
)
 
—

 
(3.2
)
 
0.2

 
—

 
(5.8
)
Balance at September 30, 2017, net of tax
 
 
 
 
$
(18.8
)
 
$
(204.6
)
 
$
16.6

 
$
1.4

 
$
(405.8
)
 
$
(611.2
)

 
Nine Months Ended September 30, 2017
Gains and Losses on Derivatives in Cash Flow Hedging Relationships
 
Gains and Losses on Net Investment Hedges
 
Gains and Losses on Marketable Securities
 
Defined Pension Plan Items
 
Foreign Currency Translation Adjustment
 
Totals
(In millions)
Foreign Currency Forward Contracts
 
Interest Rate Swaps
 
Total
 
 
 
 
 
 
 
 
 
 
Balance at December 31, 2016, net of tax
 
 
 
 
$
(38.6
)
 
$
(1.4
)
 
$
14.5

 
$
(0.5
)
 
$
(2,237.7
)
 
$
(2,263.7
)
Other comprehensive earnings (loss) before reclassifications, before tax
 
 
 
 
19.9

 
(203.2
)
 
3.5

 
1.7

 
1,831.9

 
1,653.8

Amounts reclassified from accumulated other comprehensive loss, before tax:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loss on foreign exchange forward contracts classified as cash flow hedges, included in net sales
3.8

 
 
 
3.8

 
 
 
 
 
 
 
 
 
3.8

Loss on interest rate swaps classified as cash flow hedges, included in interest expense
 
 
5.5

 
5.5

 
 
 
 
 
 
 
 
 
5.5

Amortization of prior service costs included in SG&A
 
 
 
 
 
 
 
 
 
 
0.2

 
 
 
0.2

Amortization of actuarial gain included in SG&A
 
 
 
 
 
 
 
 
 
 
0.5

 
 
 
0.5

Net other comprehensive earnings (loss), before tax
 
 
 
 
29.2

 
(203.2
)
 
3.5

 
2.4

 
1,831.9

 
1,663.8

Income tax provision
 
 
 
 
9.4

 
—

 
1.4

 
0.5

 
—

 
11.3

Balance at September 30, 2017, net of tax
 
 
 
 
$
(18.8
)
 
$
(204.6
)
 
$
16.6

 
$
1.4

 
$
(405.8
)
 
$
(611.2
)