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Derivative Financial Instruments and Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2019

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Effect of Net Investment Hedges and Cross-Currency Swaps on AOCI

The effect of our net investment hedges and cross-currency swaps on AOCI for the three and six months ended June 30, 2019, and 2018 was as follows:


	Gain (Loss) Recognized in					Location of Gain Reclassified	Gain Reclassified
Instrument	Other Comprehensive Income					from AOCI into Income	from AOCI into Income
	3 Months Ended June 30,						3 Months Ended June 30,
	2019			2018⁽¹⁾			2019		2018⁽¹⁾
Euro Notes	$	(13.9	)	$	47.1	Interest and other (income) expenses, net	$	-	$	-
Cross-currency swaps		5.0			-	Interest and other (income) expenses, net		5.4		-


	Gain Recognized in				Location of Gain Reclassified	Gain Reclassified
Instrument	Other Comprehensive Income				from AOCI into Income	from AOCI into Income
	6 Months Ended June 30,					6 Months Ended June 30,
	2019		2018⁽¹⁾			2019		2018⁽¹⁾
Euro Notes	$	8.5	$	25.9	Interest and other (income) expenses, net	$	-	$	-
Cross-currency swaps		5.0		-	Interest and other (income) expenses, net		5.4		-

(1)	The prior period amounts have been revised to conform with the current period presentation.

Effect of Forward Contracts not Designated as Hedging Instrument

The effect of our forward contracts that are not designated as hedging instruments on the Consolidated Statements of Operations for the three and six months ended June 30 was as follows:

	Location of Gain	Amount of Gain Recognized in Income
Instrument	Recognized in Income	3 Months Ended June 30,				6 Months Ended June 30,
		2019		2018		2019		2018
Foreign currency forward contracts	Interest and other (income) expenses, net	$	9.1	$	2.1	$	9.2	$	2.1

Fair Value of Derivative and Non-Derivative Assets and Liabilities on the Consolidated Balance Sheets

The following tables present the fair value of derivative and non-derivative assets and liabilities on the Consolidated Balance Sheets as of June 30, 2019 and December 31, 2018:

	Assets
		June 30,		December 31,
	Balance Sheet Location	2019		2018
Instruments designated as hedges:
Cross-currency swaps	Prepaid expenses and other assets	$	5.1	$	-
Instruments not designated as hedges:
Foreign currency forward contracts	Accounts receivable, net		9.2		0.1
Total instruments		$	14.3	$	0.1

	Liabilities
		June 30,		December 31,
	Balance Sheet Location	2019		2018
Instruments designated as hedges:
Euro Notes	Long-term debt		1,083.5		1,032.0
Instruments not designated as hedges:
Foreign currency forward contracts	Accrued liabilities		—		0.1
Total instruments		$	1,083.5	$	1,032.1