Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities

Schedule of notional amounts, fair values and classification of outstanding derivatives

			Fair Value		Fair Value
			Accrued		Other
	Notional		Liabilities		Non-Current
	Amount		and Other		Liabilities
Derivatives Designated as Hedging Instruments	(in millions)
Interest rate swap contracts as of March 31, 2020	$	1,333.8	$	23.0	$	2.1
Interest rate swap contracts as of December 31, 2019	$	1,337.2	$	14.7	$	6.1

Schedule of gains and losses on derivatives

	Three months ended
	March 31,
	2020		2019
Interest rate swap contracts(1)	(in millions)
Loss recorded in AOCL on derivatives, before tax	$	3.9	$	6.2
Tax expense		(0.9)		(3.1)
Loss reclassified from AOCL into income, net		3.0		3.1

(1) Losses on derivatives reclassified from AOCL into income will be included in “Interest expense” in the unaudited condensed consolidated statements of operations, the same income statement line item as the earnings effect of the hedged item.