Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Designated and Non-designated Cash Flow Hedges

A summary of the Company's designated and non-designated cash flow hedges follows:


	March 31, 2020						December 31, 2019
(in millions)	Fair Value⁽¹⁾		Notional Value		Fair Value⁽¹⁾		Notional Value
Designated hedges	$	0.3	$	104.8	$	2.0	$	108.1
Non-designated hedges	(0.7)		33.9		0.6		124.4

⁽¹⁾The fair value of foreign currency forward contracts is included in other current assets. The fair value was estimated using observable market inputs such as forward and spot prices of the underlying exchange rate pair. Based on these inputs, derivative assets and liabilities are classified as Level 2 in the fair value hierarchy.

Change in Accumulated Other Comprehensive Income Related to Cash Flow Hedges

The change in accumulated other comprehensive loss related to cash flow hedges for the three months ended March 31, follows:










(in millions)	2020		2019
Balance as of January 1	$	(1.1)	$	(3.2)
Other comprehensive (loss) income before reclassifications	(1.6)		1.9
Amounts reclassified from accumulated other comprehensive loss	(0.5)		(0.3)

Other comprehensive (loss) income	(2.1)		1.6
Balance as of March 31	$	(3.2)	$	(1.6)

Non-Designated Hedges