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Derivative Financial Instruments and Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value of Derivatives
The following table presents the fair value of derivatives as of December 31, 2019 and 2018 (in millions):
 
 
 
 
December 31, 2019
 
December 31, 2018
 
 
 
 
Assets
 
Liabilities
 
Assets
 
Liabilities
Derivative Instrument
 
Notional
 
Fair Value
 
Fair Value
 
Fair Value
 
Fair Value
Designated:
 
 
 
 
 
 
 
 
 
 
Cash flow hedges:
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
 
$
2,050.0

 
$
—

 
$
97.7

 
$
—

 
$
25.1

Non-designated:
 
 
 
 
 
 
 
 
 
 
Foreign currency forward contracts
 
498.2

 
1.0

 
2.2

 
0.5

 
0.8
Schedule of Effect of Derivatives As Hedges, Net of Applicable Income Taxes
The following tables presents the effect of derivatives designated as hedges, net of applicable income taxes, in the consolidated statements of operations for the years ended December 31, 2019, 2018 and 2017 (in millions):
 
Beginning Accumulated Other Comprehensive Loss (Gain)
 
Amount of Loss (Gain) Recognized in Other Comprehensive Loss on Derivatives(1)
 
Amount of (Loss) Gain Reclassified from Accumulated Other Comprehensive Loss into Statement of Operations(2)
 
Ending Accumulated Other Comprehensive Loss (Gain)
Year Ended December 31, 2017
 
 
 
 
 
 
 
Foreign currency cash flow hedges
$
0.9

 
$
11.0

 
$
(9.7
)
 
$
2.2

Foreign currency net investment hedges
(1.9
)
 
2.6

 
—

 
0.7

Interest rate cash flow hedges
(16.4
)
 
1.0

 
(7.1
)
 
(22.5
)
 
$
(17.4
)
 
$
14.6

 
$
(16.8
)
 
$
(19.6
)
Year Ended December 31, 2018
 
 
 
 
 
 
 
Foreign currency cash flow hedges
$
2.2

 
$
(7.3
)
 
$
5.1

 
$
—

Foreign currency net investment hedges
0.7

 
(1.3
)
 
—

 
(0.6
)
Interest rate cash flow hedges
(22.5
)
 
1.1

 
8.1

 
(13.3
)
 
$
(19.6
)
 
$
(7.5
)
 
$
13.2

 
$
(13.9
)
Year Ended December 31, 2019
 
 
 
 
 
 
 
Foreign currency cash flow hedges
$
—

 
$
—

 
$
—


$
—

Foreign currency net investment hedges
(0.6
)
 
—

 
—


(0.6
)
Interest rate cash flow hedges
(13.3
)
 
88.5

 
3.8


79.0

 
$
(13.9
)
 
$
88.5

 
$
3.8


$
78.4

(1) Amount is net of related income tax expense (benefit) of $4.4 million, $0.7 million and $(2.9) million for the years ended December 31, 2019, 2018 and 2017, respectively.
(2) Amount is net of related income tax (expense) benefit of $(3.1) million, $(1.9) million and $3.7 million for the years ended December 31, 2019, 2018 and 2017, respectively.