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Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2017
Derivative [Line Items]  
Schedule of Outstanding Commodity and Currency Forward Contracts
As of December 31, 2017, 2016 and 2015, the Company had the following outstanding currency forward contracts that were not designated as hedging instruments:

 
 
Units Hedged
 
 
 
 
Commodity
 
2017
 
2016
 
2015
 
Unit
 
Type
Aluminum
 
—

 
28

 
—

 
MT
 
Cash flow
Steel
 
—

 
340

 
—

 
Short tons
 
Cash flow

 
 
Units Hedged
 
 
 
 
Currency
 
2017
 
2016
 
2015
 
Recognized Location
 
Purpose
Canadian Dollar
 
—

 
—

 
1,117,850

 
Other expense (income) — net
 
Accounts payable and receivable settlement
European Euro
 
69,300,000

 
16,000,000

 
—

 
Other expense (income) — net
 
Accounts payable and receivable settlement
Swiss Franc
 
4,800,000

 
3,150,000

 
—

 
Other expense (income) — net
 
Accounts payable and receivable settlement
British Pound
 
14,912,019

 
8,192,692

 
—

 
Other expense (income) — net
 
Accounts payable and receivable settlement
Singapore Dollar
 
28,127,000

 
—

 
—

 
Other expense (income) — net
 
Accounts payable and receivable settlement

Derivatives NOT designated as hedging instruments (in millions)
 
Amount of gain (loss) recognized in income on derivative
 
Location of gain (loss) recognized in income on derivative
 
 
Year Ended
 
 
 
 
2017
 
2016
 
2015
 
 
Foreign currency exchange contracts
 
$
(6.5
)
 
$
(0.2
)
 
$
0.1

 
Other expense (income) — net
Commodity contracts — short-term
 
—

 
0.8

 
(0.7
)
 
Other expense (income) — net
Commodity contracts — long-term
 
—

 
—

 
(0.1
)
 
Other expense (income) — net
Total
 
$
(6.5
)
 
$
0.6

 
$
(0.7
)
 
 
Schedule of the Effect of Derivative Instruments on the Consolidated Statement of Operations for Gains or Losses Initially Recognized in Other Comprehensive Income (OCI) in the Consolidated Balance Sheet
The effects of derivative instruments on the consolidated statements of comprehensive income and consolidated statements of operations for the years ended December 31, 2017, 2016 and 2015 for gains or losses initially recognized in AOCI in the consolidated balance sheets were as follows: 

Derivatives in cash flow hedging relationships (in millions)
 
Pretax gain (loss) recognized in AOCI (effective portion)
 
Location of gain (loss) reclassified from AOCI into income (effective portion)
 
Pretax gain (loss) reclassified from AOCI into income (effective portion)
 
 
2017
 
2016
 
2015
 
 
 
2017
 
2016
 
2015
Foreign currency exchange contracts
 
$
3.8

 
$
(0.1
)
 
$
(0.8
)
 
Cost of sales
 
$
3.3

 
$
—

 
$
(1.4
)
Commodity contracts
 
2.4

 
2.2

 
(5.3
)
 
Cost of sales
 
1.1

 
(1.5
)
 
(3.4
)
Interest rate swap contracts
 
2.8

 
—

 
—

 
Interest expense
 
—

 
—

 
—

Total
 
$
9.0

 
$
2.1

 
$
(6.1
)
 
 
 
$
4.4

 
$
(1.5
)
 
$
(4.8
)

Derivatives in cash flow hedging relationships (in millions)
 
Amount of gain (loss) recognized in income on derivative (ineffective portion and amount excluded from effectiveness testing)
 
Location of gain (loss) recognized in income on derivative (ineffective portion and amount excluded from effectiveness testing)
 
 
2017
 
2016
 
2015
 
 
Commodity contracts
 
$
0.2

 
$
—

 
$
0.1

 
Cost of sales
Total
 
$
0.2

 
$
—

 
$
0.1

 
 
The effects of derivative instruments on the consolidated statements of comprehensive income and consolidated statements of operations for the years ended December 31, 2017, 2016 and 2015 for gains or losses initially recognized in AOCI in the consolidated balance sheets were as follows: 

Derivatives in net investments hedging relationships (in millions)
 
Pretax gain (loss) recognized in AOCI (effective portion)
 
Location of gain (loss) reclassified from AOCI into income (effective portion)
 
Amount of gain (loss) reclassified from AOCI into income (effective portion)
 
 
2017
 
2016
 
2015
 
 
 
2017
 
2016
 
2015
Interest rate swap contract
 
$
(7.5
)
 
$
—

 
$
—

 
Selling, general and administrative expenses
 
$
—

 
$
—

 
$
—

Total
 
$
(7.5
)
 
$
—

 
$
—

 
 
 
$
—

 
$
—

 
$
—
Schedule of Gain or Loss on the Hedged Items
The gain or loss on the hedged items (that is, fixed-rate borrowing of 9.50% Senior Notes due 2024) attributable to the hedged benchmark interest rate risk (risk of changes in the applicable LIBOR swap rate) and the offsetting gain or loss on the related interest rate swap is as follows:

Derivatives in fair value hedging relationships (in millions)
 
Gain/(Loss) on Swap
 
Income Statement Classification
 
Gain/(Loss) on Borrowings
 
 
2017
 
2016
 
2015
 
 
 
2017
 
2016
 
2015
Interest rate swap contract
 
$
(9.0
)
 
$
—

 
$
—

 
Interest Expense
 
$
8.7

 
$
—

 
$
—

Total
 
$
(9.0
)
 
$
—

 
$
—

 
 
 
$
8.7

 
$
—

 
$
—
Schedule of the Fair Value of Outstanding Derivative Contracts Recorded as Assets in the Accompanying Consolidated Balance Sheet
The fair value of outstanding derivative contracts recorded as assets in the consolidated balance sheets as of December 31, 2017 and 2016 was as follows:

 
 
 
 
Asset Derivatives
(in millions)
 
Balance Sheet Location
 
Fair Value
 
 
 
 
2017
 
2016
Derivatives designated as hedging instruments:
 
 
 
 
 
 
Foreign currency exchange contracts
 
Prepaids and other current assets
 
$
1.1

 
$
0.6

Commodity contracts
 
Prepaids and other current assets
 
1.7

 
0.9

Interest rate swap contracts
 
Prepaids and other current assets
 
1.7

 
—

Commodity contracts
 
Other non-current assets
 
0.6

 
0.2

Interest rate swap contracts
 
Other non-current assets
 
2.3

 
—

Total derivatives designated as hedging instruments
 
 
 
$
7.4

 
$
1.7

 
 
 
 
 
 
 
Total asset derivatives
 
 
 
$
7.4

 
$
1.7
Schedule of the Fair Value of Outstanding Derivative Contracts Recorded as Liabilities in the Accompanying Consolidated Balance Sheet
The fair value of outstanding derivative contracts recorded as liabilities in the consolidated balance sheets as of December 31, 2017 and 2016 was as follows:

 
 
 
 
Liability Derivatives
(in millions)
 
Balance Sheet Location
 
Fair Value
 
 
 
 
2017
 
2016
Derivatives designated as hedging instruments:
 
 
 
 
 
 
Foreign currency exchange contracts
 
Accrued expenses and other liabilities
 
$
0.6

 
$
0.8

Commodity contracts
 
Accrued expenses and other liabilities
 
0.1

 
0.1

Interest rate swap contracts
 
Other long-term liabilities
 
17.7

 
—

Total derivatives designated as hedging instruments
 
 
 
$
18.4

 
$
0.9

 
 
 
 
 
 
 
Derivatives NOT designated as hedging instruments:
 
 
 
 
 
 
Foreign currency exchange contracts
 
Accrued expenses and other liabilities
 
$
0.5

 
$
0.2

Total derivatives NOT designated as hedging instruments
 
 
 
$
0.5

 
$
0.2

 
 
 
 
 
 
 
Total liability derivatives
 
 
 
$
18.9

 
$
1.1
Designated as Hedging Instrument  
Derivative [Line Items]  
Schedule of Outstanding Commodity and Currency Forward Contracts
As of December 31, 2017, 2016 and 2015, the Company had the following outstanding commodity and currency forward contracts that were entered into as hedges of forecasted transactions:

 
 
Units Hedged
 
 
Commodity
 
2017
 
2016
 
2015
 
Unit
Aluminum
 
1,620

 
1,663

 
1,215

 
MT
Copper
 
667

 
746

 
472

 
MT
Natural gas
 
—

 
56,416

 
49,396

 
MMBtu
Steel
 
7,713

 
8,663

 
11,073

 
Short tons

 
 
Units Hedged
Currency
 
2017
 
2016
 
2015
Canadian Dollar
 
18,080,000

 
26,130,000

 
587,556

European Euro
 
8,545,000

 
11,261,848

 
231,810

British Pound
 
7,807,744

 
4,191,763

 
113,115

Mexican Peso
 
126,400,000

 
148,200,000

 
28,504,800

Thailand Baht
 
—

 
23,231,639

 
—

Singapore Dollar
 
1,765,000

 
4,375,000

 
—