Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Foreign currency forward contracts that were entered into to hedge forecasted revenue

The notional value of foreign currency forward contracts that were entered into to hedge forecasted revenues and operating expenses is summarized as follows:

	Notional Amount
Foreign Currency: (In millions)	As of June 30, 2018		As of December 31, 2017
Euro	$	1,553.3	$	1,875.6
British pound	72.5		150.9
Canadian dollar	45.8		83.5
Swiss franc	36.8		88.7
Total foreign currency forward contracts	$	1,708.4	$	2,198.7

Summary of the effect of derivatives designated as hedging instruments on the condensed consolidated statements of income

The following tables summarize the effect of foreign currency forward contracts designated as hedging instruments in our condensed consolidated statements of income:

For the Three Months Ended June 30, 2018								For the Six Months Ended June 30, 2018
Net Gains/(Losses) Reclassified from AOCI into Operating Income (in millions)				Net Gains/(Losses) Recognized in Operating Income (in millions)				Net Gains/(Losses) Reclassified from AOCI into Operating Income (in millions)				Net Gains/(Losses) Recognized in Operating Income (in millions)
Location	2018			Location	2018			Location	2018			Location	2018
Revenues	$	(10.4	)	Revenues	$	7.9		Revenues	$	(43.3	)	Revenues	$	7.0
Operating expenses	$	(0.4	)	Operating expenses	$	(0.1	)	Operating expenses	$	0.9		Operating expenses	$	(0.4	)

For the Three Months Ended June 30, 2017								For the Six Months Ended June 30, 2017
Net Gains/(Losses) Reclassified from AOCI into Operating Income (in millions)				Net Gains/(Losses) Recognized Directly into Net Income (in millions)				Net Gains/(Losses) Reclassified from AOCI into Operating Income (in millions)			Net Gains/(Losses) Recognized Directly into Net Income (in millions)
Location	2017			Location	2017			Location	2017		Location	2017
Revenues	$	(3.0	)	Other income (expense)	$	2.0		Revenue	$	3.7	Other income (expense)	$	6.0
Operating expenses	$	0.3		Other income (expense)	$	(0.1	)	Operating expenses	$	0.2	Other income (expense)	$	(0.3	)

Summary of fair value and presentation of derivatives

The following table summarizes the fair value and presentation in our condensed consolidated balance sheets of our outstanding derivative instruments, including those designated as hedging instruments:

		Fair Value
(In millions)	Balance Sheet Location	As of June 30, 2018
Hedging Instruments:
Asset derivatives	Other current assets	$	27.2
	Investments and other assets	$	8.8
Liability derivatives	Accrued expenses and other	$	22.2
	Other long-term liabilities	$	19.6
Other Derivatives:
Asset derivatives	Other current assets	$	4.0
Liability derivatives	Accrued expenses and other	$	1.7

		Fair Value
(In millions)	Balance Sheet Location	As of December 31, 2017
Hedging Instruments:
Asset derivatives	Other current assets	$	0.7
	Investments and other assets	$	0.2
Liability derivatives	Accrued expenses and other	$	84.7
	Other long-term liabilities	$	23.6
Other Derivatives:
Asset derivatives	Other current assets	$	1.8
Liability derivatives	Accrued expenses and other	$	3.0