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Derivative Instruments and Hedging Activities (Tables)
 9 Months Ended
Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Accumulated Other Comprehensive Loss Related to Derivatives The following tables summarize the after-tax impact that changes in the fair value of derivatives designated as cash flow hedges had on accumulated other comprehensive loss and net income during the three and nine months ended September 30, 2020 and 2019 (in millions):
Recognized in Net Income
Three Months Ended September 30,Gain (Loss) Recognized in Accumulated
Other Comprehensive Loss		Classification of Gain (Loss)Gain (Loss) Reclassified from Accumulated
Other Comprehensive Loss into Income		Total Amount of the Line Item in the Condensed Consolidated Statements of Operations Containing Hedge Gains (Losses)
2020
Foreign currency contracts$(0.1)Cost of goods sold$1.0 $1,918.8 
2019
Foreign currency contracts$0.1 Cost of goods sold$1.7 $1,659.2 
Recognized in Net Income
Nine Months Ended September 30,Gain (Loss) Recognized in Accumulated
Other Comprehensive Loss		Classification of Gain (Loss)Gain (Loss) Reclassified from Accumulated
Other Comprehensive Loss into Income		Total Amount of the Line Item in the Condensed Consolidated Statements of Operations Containing Hedge Gains (Losses)
2020
Foreign currency contracts(1)
$8.1 Cost of goods sold$4.2 $4,970.7 
2019
Foreign currency contracts$(0.3)Cost of goods sold$0.6 $5,057.0 
(1) The outstanding contracts as of September 30, 2020 range in maturity through December 2020.

    The following table summarizes the activity in accumulated other comprehensive loss related to the derivatives held by the Company during the nine months ended September 30, 2020 (in millions):
Before-Tax AmountIncome Tax After-Tax Amount
Accumulated derivative net losses as of December 31, 2019$(1.5)$(0.2)$(1.3)
Net changes in fair value of derivatives8.9 0.8 8.1 
Net gains reclassified from accumulated other comprehensive loss into income(4.4)(0.2)(4.2)
Accumulated derivative net gains as of September 30, 2020$3.0 $0.4 $2.6 
Schedule of Derivative Instruments The following table summarizes the notional values of the instrument designated as a net investment hedge (in millions):
Notional Amount as of
September 30, 2020December 31, 2019
Cross currency swap contract$300.0 $300.0 

    The following table summarizes the after-tax impact of changes in the fair value of the instrument designated as a net investment hedge during the three and nine months ended September 30, 2020 and 2019 (in millions):
Gain (Loss) Recognized in Accumulated
Other Comprehensive Loss for the Three Months Ended
Gain (Loss) Recognized in Accumulated
Other Comprehensive Loss for the Nine Months Ended
September 30, 2020September 30, 2019September 30, 2020September 30, 2019
Cross currency swap contract$(13.3)$12.0 $(11.8)$16.8 
Foreign currency denominated debt— 0.5 1.7 2.5 
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location The following table summarizes the impact that changes in the fair value of derivatives not designated as hedging instruments had on net income (in millions):
Gain (Loss) Recognized in Net Income for the Three Months EndedGain Recognized in Net Income for the Nine Months Ended
Classification of Gain (Loss)
September 30, 2020September 30, 2019September 30, 2020September 30, 2019
Foreign currency contractsOther expense, net$(7.0)$25.6 $16.1 $31.3 
Fair Value of Derivative Instruments The table below sets forth the fair value of derivative instruments as of September 30, 2020 (in millions):
Asset Derivatives as of
September 30, 2020		Liability Derivatives as of
September 30, 2020
Balance Sheet LocationFair ValueBalance Sheet LocationFair Value
Derivative instruments designated as hedging instruments:
Foreign currency contractsOther current assets$3.5 Other current liabilities$0.5 
Cross currency swap contractOther noncurrent assets15.2 Other noncurrent liabilities— 
Derivative instruments not designated as hedging instruments:
Foreign currency contractsOther current assets19.9 Other current liabilities11.4 
Total derivative instruments$38.6 $11.9 

    The table below sets forth the fair value of derivative instruments as of December 31, 2019 (in millions):
Asset Derivatives as of
December 31, 2019		Liability Derivatives as of
December 31, 2019
Balance Sheet LocationFair ValueBalance Sheet LocationFair Value
Derivative instruments designated as hedging instruments:
Foreign currency contractsOther current assets$0.6 Other current liabilities$1.9 
Cross currency swap contractOther noncurrent assets27.0 Other noncurrent liabilities— 
Derivative instruments not designated as hedging instruments:
Foreign currency contractsOther current assets11.7 Other current liabilities13.1 
Total derivative instruments$39.3 $15.0 
Assets and liabilities measured at fair value on a recurring basis as of September 30, 2020 and December 31, 2019 are summarized below (in millions):
As of September 30, 2020
Level 1Level 2Level 3Total
Derivative assets$— $38.6 $— $38.6 
Derivative liabilities— 11.9 — 11.9 
As of December 31, 2019
Level 1Level 2Level 3Total
Derivative assets$— $39.3 $— $39.3 
Derivative liabilities— 15.0 — 15.0