Hedging Transactions And Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments, Gain (Loss)

The following table summarizes the notional values as of December 31, 2019 and pretax impact of changes in the fair values of instruments designated as net investment hedges and cash flow hedges in accumulated other comprehensive loss (“OCI”) for the year ended December 31, 2019 ($ in millions):

	Notional Amount		Gain (Loss) Recognized in OCI
Year Ended December 31, 2019
Interest rate contracts	$	650.0	$	0.1
Foreign currency contracts	650.0		(8.9		)
Foreign currency denominated debt	672.9		(9.2		)
Total	$	1,972.9	$	(18.0	)

Schedule of Notional Amounts of Outstanding Derivative Positions

The following table summarizes the notional values as of December 31, 2019 and pretax impact of changes in the fair values of instruments designated as net investment hedges and cash flow hedges in accumulated other comprehensive loss (“OCI”) for the year ended December 31, 2019 ($ in millions):

	Notional Amount		Gain (Loss) Recognized in OCI
Year Ended December 31, 2019
Interest rate contracts	$	650.0	$	0.1
Foreign currency contracts	650.0		(8.9		)
Foreign currency denominated debt	672.9		(9.2		)
Total	$	1,972.9	$	(18.0	)

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The Company’s derivative instruments, as well as its nonderivative debt instruments designated and qualifying as net investment hedges, were classified as of December 31, 2019 in the Company’s Consolidated and Combined Balance Sheets as follows ($ in millions):

Derivative assets:
Prepaid expenses and other current assets	$	0.1
Derivative liabilities:
Accrued expense and other liabilities	$	8.9
Nonderivative hedging instruments:
Long-term debt	$	672.9