XML 35 R34.htm IDEA: XBRL DOCUMENT v3.20.1
DERIVATIVES AND HEDGING TRANSACTIONS (Tables)
3 Months Ended
Mar. 31, 2020
DERIVATIVES AND HEDGING TRANSACTIONS  
Gross fair value of the company's outstanding derivative assets and liabilities

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(millions)

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Derivatives Assets

Derivatives Liabilities

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March 31

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December 31

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March 31

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December 31

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(millions)

    

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2020

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2019

    

2020

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2019

 

Derivatives designated as hedging instruments

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Foreign currency forward contracts

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$75.8

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$67.4

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$1.4

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$2.1

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Derivatives not designated as hedging instruments

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Foreign currency forward contracts

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41.4

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16.5

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20.7

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7.9

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Gross value of derivatives

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117.2

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83.9

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22.1

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10.0

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Gross amounts offset in the Consolidated Balance Sheet

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(17.0)

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(4.2)

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(17.0)

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(4.2)

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Net value of derivatives

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$100.2

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$79.7

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$5.1

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$5.8

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Summary of notional values of outstanding derivatives

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Notional Values

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March 31

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December 31

(millions)

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2020

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2019

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Foreign currency forward contracts

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$ 5,697

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$ 4,004

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Revaluation gains and losses on euronotes and forward contracts

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First Quarter Ended 

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March 31

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(millions)

    

2020

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2019

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Revaluation gains (losses), net of tax

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$(1.1)

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$(6.6)

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Impact on AOCI and earnings from derivative contracts qualified as cash flow hedges

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First Quarter Ended 

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March 31

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2020

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2019

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(millions)

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COS

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SG&A

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Interest

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COS

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SG&A

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Interest

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Gain (loss) on derivatives in cash flow hedging relationship:

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Foreign currency forward contracts

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Amount of gain (loss) reclassified from AOCI to income

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$2.2

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$(1.1)

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$-

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$4.4

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$(7.1)

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$-

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Amount excluded from the assessment of effectiveness recognized in earnings based on changes in fair value

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-

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-

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5.4

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-

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-

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7.0

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Interest rate swap agreements

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Amount of gain (loss) reclassified from AOCI to income

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-

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-

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(0.2)

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-

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-

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(0.2)

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Gain (loss) on derivatives in fair value hedging relationship:

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Interest rate swaps

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Hedged items

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-

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-

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-

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0.2

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Derivatives designated as hedging instruments

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-

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-

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(0.2)

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Gain (loss) on derivatives not designated as hedging instruments:

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Foreign currency forward contracts

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Amount of gain (loss) recognized in income

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-

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17.2

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1.2

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-

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6.1

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-

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Total gain (loss) of all derivative instruments

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$2.2

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$16.1

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$6.4

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$4.4

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$(1.0)

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$6.8

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