Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Net Investment Hedges in Balance Sheets

The following table summarizes the fair value of the Company’s derivative instruments designated as net investment hedges as of September 30, 2019:

(In millions)	September 30, 2019
Derivative asset(1):
Foreign exchange forward contracts	$	2.0

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(1)

The fair value of derivative instruments is measured based on expected future cash flows discounted at market interest rates using observable market inputs and classified as Level 2 within the fair value hierarchy. Fair value of derivative liabilities is recorded within "Other Current Assets" and "Other Assets" in the accompanying unaudited Consolidated Balance Sheets.

Net Investment Hedges in Consolidated Statements of Operations and Comprehensive Income

The following table summarizes the amounts recorded in the Company's accompanying unaudited Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income (Loss) related to forward contracts designated as net investment hedges for the three and nine months ended September 30, 2019:

(In millions)	Three months ended September 30, 2019				Nine months ended September 30, 2019
	"Other Income, net"		Cumulative Translation Adjustments(1)		"Other Income, net"		Cumulative Translation Adjustments(1)
Gains on foreign exchange forward contracts	$	0.2	$	1.5	$	0.3	$	1.3

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(1)

The amounts are presented net of tax liability for the three and nine months ended September 30, 2019 of $0.5 million and $0.4 million, respectively.