Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary Of Accumulated Other Comprehensive Loss Related To Derivatives

The following table summarizes the activity in accumulated other comprehensive loss related to the derivatives held by the Company during the three months ended March 31, 2017 (in millions):

	Before-Tax Amount			Income Tax			After-Tax Amount
Accumulated derivative net losses as of December 31, 2016	$	(10.1	)	$	(1.4	)	$	(8.7	)
Net changes in fair value of derivatives	2.0			—			2.0
Net losses reclassified from accumulated other comprehensive loss into income	1.3			—			1.3
Accumulated derivative net losses as of March 31, 2017	$	(6.8	)	$	(1.4	)	$	(5.4	)

The following table summarizes the after-tax impact that changes in the fair value of derivatives designated as cash flow hedges had on accumulated other comprehensive loss and earnings during the three months ended March 31, 2017 and 2016 (in millions):

				Recognized in Earnings
Three Months Ended March 31,	Gain (Loss) Recognized in Accumulated Other Comprehensive Loss			Classification of Gain (Loss)	Loss Reclassified from Accumulated Other Comprehensive Loss into Income
2017
Foreign currency contracts(1)	$	1.4		Cost of goods sold	$	(0.7	)
Interest rate contract	0.6			Interest expense, net	(0.6		)
Total	$	2.0			$	(1.3	)
2016
Interest rate contract	$	(3.0	)	Interest expense, net	$	(0.3	)

⁽¹⁾The outstanding contracts as of March 31, 2017 range in maturity through December 2017.

Schedule of Derivative Instruments

The following table summarizes the notional values and the after-tax impact of changes in the fair value of the instrument designated as a net investment hedge (in millions):

	Notional Amount as of				Loss Recognized in Accumulated Other Comprehensive Loss for the Three Months Ended
	March 31, 2017		December 31, 2016		March 31, 2017			March 31, 2016
Foreign currency denominated debt	$	333.4	$	329.2	$	(4.2	)	$	(10.0	)

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following table summarizes the impact that changes in the fair value of derivatives not designated as hedging instruments had on earnings (in millions):

		For the Three Months Ended
	Classification of Gain	March 31, 2017		March 31, 2016
Foreign currency contracts	Other expense, net	$	3.8	$	8.3

Fair Value Of Derivative Instruments

The table below sets forth the fair value of derivative instruments as of March 31, 2017 (in millions):

	Asset Derivatives as of March 31, 2017			Liability Derivatives as of March 31, 2017
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivative instruments designated as hedging instruments:
Foreign currency contracts	Other current assets	$	0.4	Other current liabilities	$	1.8
Interest rate contract	Other noncurrent assets	—		Other noncurrent liabilities	5.3
Derivative instruments not designated as hedging instruments:
Foreign currency contracts	Other current assets	3.1		Other current liabilities	6.9
Total derivative instruments		$	3.5		$	14.0

The table below sets forth the fair value of derivative instruments as of December 31, 2016 (in millions):

	Asset Derivatives as of December 31, 2016			Liability Derivatives as of December 31, 2016
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivative instruments designated as hedging instruments:
Foreign currency contracts	Other current assets	$	0.2	Other current liabilities	$	3.8
Interest rate contract	Other noncurrent assets	—		Other noncurrent liabilities	6.4
Derivative instruments not designated as hedging instruments:
Foreign currency contracts	Other current assets	6.3		Other current liabilities	3.2
Total derivative instruments		$	6.5		$	13.4

Assets and liabilities measured at fair value on a recurring basis as of March 31, 2017 and December 31, 2016 are summarized below (in millions):

	As of March 31, 2017
	Level 1		Level 2		Level 3		Total
Derivative assets	$	—	$	3.5	$	—	$	3.5
Derivative liabilities	$	—	$	14.0	$	—	$	14.0

	As of December 31, 2016
	Level 1		Level 2		Level 3		Total
Derivative assets	$	—	$	6.5	$	—	$	6.5
Derivative liabilities	$	—	$	13.4	$	—	$	13.4