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Derivative Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2017
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Summary of Interest Rate Swaps

Trade Date

 

Notional

Amount

 

 

Coverage Period

 

Risk Coverage

November 13, 2016

 

$

250.0

 

 

November 2016 to March 2018

 

Term Loan A

November 13, 2016

 

$

200.0

 

 

November 2016 to March 2021

 

Term Loan A

April 1, 2016

 

$

100.0

 

 

April 2016 to March 2023

 

Term Loan B

 

Summary of Fair Value of Derivative Instruments on Consolidated Balance Sheet

 

 

Derivative Assets

 

 

Derivative Liabilities

 

 

 

 

 

Fair Value

 

 

 

 

Fair Value

 

 

 

Balance Sheet

Location

 

June 30,

2017

 

 

December 31,

2016

 

 

Balance Sheet

Location

 

June 30,

2017

 

 

December 31,

2016

 

Derivatives designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Natural gas commodity contracts

 

Other current assets

 

$

-

 

 

$

1.0

 

 

Accounts payable and accrued expenses

 

$

0.2

 

 

$

-

 

Foreign exchange contracts

 

Other current assets

 

 

0.2

 

 

 

1.4

 

 

Accounts payable and accrued expenses

 

 

0.4

 

 

 

-

 

Interest rate swap contracts

 

Other current assets

 

 

0.2

 

 

 

-

 

 

Accounts payable and accrued expenses

 

 

-

 

 

 

-

 

Natural gas commodity contracts

 

Other non-current assets

 

 

-

 

 

 

-

 

 

Other long-term liabilities

 

 

0.1

 

 

 

-

 

Foreign exchange contracts

 

Other non-current assets

 

 

-

 

 

 

0.2

 

 

Other long-term liabilities

 

 

0.2

 

 

 

-

 

Interest rate swap contracts

 

Other non-current assets

 

 

6.6

 

 

 

7.4

 

 

Other long-term liabilities

 

 

-

 

 

 

0.5

 

Total derivatives designated as hedging instruments

 

$

7.0

 

 

$

10.0

 

 

 

 

$

0.9

 

 

$

0.5

 

 

Summary of Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income

 

 

Amount of (Loss) Gain

Recognized in Accumulated

Other Comprehensive

Income (“AOCI”)

(Effective

Portion)

 

 

Location of (Loss)

Gain Reclassified from

AOCI into Income

(Effective Portion)

 

Gain (Loss) Reclassified

from AOCI into Income

(Effective Portion)

 

 

 

Six Months Ended

 

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

 

 

June 30,

 

 

June 30,

 

 

 

2017

 

 

2016

 

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Derivatives in cash flow hedging relationships

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Natural gas commodity contracts

 

$

(1.0

)

 

$

0.3

 

 

Cost of goods sold

 

$

0.2

 

 

$

(0.5

)

 

$

0.3

 

 

$

(1.3

)

Foreign exchange contracts – purchases

 

 

(0.4

)

 

 

(0.2

)

 

Cost of goods sold

 

 

-

 

 

 

0.1

 

 

 

-

 

 

 

0.6

 

Foreign exchange contracts – sales

 

 

(0.8

)

 

 

0.6

 

 

Net sales

 

 

0.2

 

 

 

0.3

 

 

 

0.4

 

 

 

1.1

 

Interest rate swap contracts

 

 

0.1

 

 

 

(7.6

)

 

Interest expense

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(10.7

)

Total

 

$

(2.1

)

 

$

(6.9

)

 

 

 

$

0.4

 

 

$

(0.1

)

 

$

0.7

 

 

$

(10.3

)