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Hedging Activities, Derivative Instruments and Credit Risk (Tables)
 12 Months Ended
Dec. 31, 2017
Hedging Activities, Derivative Instruments and Credit Risk [Abstract]  
Summary of Notional Amounts, Fair Values and Classification of Outstanding Derivatives by Risk Category and Instrument Type
The following table summarizes the notional amounts, fair values and classification of the Company’s outstanding derivatives by risk category and instrument type within the Consolidated Balance Sheets as of December 31, 2017 and December 31, 2016.

 December 31, 2017 
Derivative
Classification
 
Notional
 Amount (1)
  
Fair Value (1)
Other Current
Assets
  
Fair Value (1)
Other Assets
  
Fair Value (1)
Accrued
Liabilities
  
Fair Value (1)
Other
Liabilities
 
Derivatives Designated as Hedging
                
Instruments
                
Interest rate swap contracts
Cash Flow
 
$
1,125.0
  
$
-
  
$
-
  
$
16.1
  
$
30.6
 
Derivatives Not Designated as Hedging
                     
Instruments
                     
Foreign currency forwards
Fair Value
 
$
94.4
  
$
-
  
$
-
  
$
1.2
  
$
-
 

 December 31, 2016 
Derivative
Classification
 
Notional
Amount (1)
  
Fair Value (1)
Other Current
Assets
  
Fair Value (1)
Other Assets
  
Fair Value (1)
Accrued
Liabilities
  
Fair Value (1)
Other
 Liabilities
 
Derivatives Designated as Hedging
                
Instruments
                
Cross currency interest rate swap contracts
Net Investment
 
$
200.0
  
$
-
  
$
26.8
  
$
-
  
$
-
 
Interest rate swap contracts
Cash Flow
 
$
1,125.0
  
$
-
  
$
-
  
$
16.3
  
$
47.2
 
Derivatives Not Designated as Hedging
                     
Instruments
                     
Foreign currency forwards
Fair Value
 
$
79.0
  
$
0.9
  
$
-
  
$
-
  
$
-
 
Foreign currency forwards
Fair Value
 
$
42.8
  
$
-
  
$
-
  
$
0.2
  
$
-
 

(1)
Notional amounts represent the gross contract amounts of the outstanding derivatives excluding the total notional amount of positions that have been effectively closed through offsetting positions.  The net gains and net losses associated with positions that have been effectively closed through offsetting positions but not yet settled are included in the asset and liability derivatives fair value columns, respectively.
Gains and Losses on Derivatives Designated as Cash Flow Hedges
Gains and losses on derivatives designated as cash flow hedges included in the Consolidated Statements of Comprehensive (Loss) Income for the years ended December 31, 2017, 2016 and 2015 are as presented in the table below.

  
2017
  
2016
  
2015
 
Interest Rate Swap Contracts(1)
         
Gain (loss) recognized in AOCI on derivatives (effective portion)
 
$
1.5
  
$
(13.2
)
 
$
(26.9
)
Loss reclassified from AOCI into income (effective portion)
 
$
(18.5
)
 
$
(11.6
)
 
$
(1.3
)
(Loss) gain recognized in income on derivatives (ineffective
            
 portion and amount excluded from effectiveness testing)
 
$
(2.1
)
 
$
0.2
  
$
0.3
 

(1)
Losses on derivatives reclassified from accumulated other comprehensive income (“AOCI”) into income (effective portion) were included in “Interest expense” in the Consolidated Statements of Operations.  Ineffective portions of changes in the fair value of cash flow hedges were recognized in earnings and included in “Interest expense” in the Consolidated Statements of Operations.
(Losses) Gains on Derivative Instruments Not Designated as Accounting Hedges and Total Net Foreign Currency (Losses) Gains
The Company’s (losses) gains on derivative instruments not designated as accounting hedges and total net foreign currency (losses) gains for the years ended December 31, 2017, 2016 and 2015 were as follows.
 
  
2017
  
2016
  
2015
 
Gain on cross currency interest rate swaps not designated as hedges
 
$
-
  
$
-
  
$
8.0
 
Foreign currency forward contracts (losses) gains
 
$
(7.0
)
 
$
19.2
  
$
(0.5
)
Total foreign currency transaction (losses) gains, net
 
$
(9.3
)
 
$
5.9
  
$
(1.1
)
Changes in Value of Debt and Designated Interest Rate Swaps
The Company’s gains and (losses), net of income tax, associated with changes in the value of debt and designated cross currency interest rate swaps for the years ended December 31, 2017 and 2016, and the net balance of such gains and (losses) included in accumulated other comprehensive income as of December 31, 2017 and 2016 were as follows.
 
  
2017
  
2016
 
(Loss) gain, net of income tax, recorded through other comprehensive income
 
$
(50.2
)
 
$
12.6
 
Balance included in accumulated other comprehensive income (loss) at December 31, 2017 and 2016 respectively
 
$
32.1
  
$
82.3