Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2018



	Commodity derivative contracts
	Volume hedged
Commodity	December 31, 2018	Units of measure	Duration
Copper	256.7	Metric Tons	Dec - 19



Foreign currency derivatives (in millions)
Functional currency	Traded currency	Notional in traded currency December 31, 2018	Notional in traded currency December 31, 2017	Ending Duration
Brazilian real	Euro	3.6	1.1	Jun - 19
Brazilian real	US dollar	5.3	—	Jun - 19
Chinese renminbi	Euro	—	18.6	Jun - 18
Chinese renminbi	US dollar	—	36.0	Sep - 18
Euro	British pound	7.0	3.9	Oct - 19
Euro	Chinese renminbi	—	85.0	Dec - 18
Euro	Japanese yen	—	1,311.3	Dec - 18
Euro	Swedish krona	539.6	267.4	Jun - 19
Euro	US dollar	18.9	56.5	Dec - 19
Japanese yen	Chinese renminbi	88.8	—	Dec - 19
Japanese yen	Korean won	5,785.2	—	Dec - 19
Japanese yen	US dollar	2.8	—	Dec - 19
Korean won	Euro	6.4	3.1	Dec - 19
Korean won	Japanese yen	266.4	619.0	Dec - 19
Korean won	US dollar	7.1	11.2	Dec - 19
Swedish krona	Euro	56.0	109.7	Jan - 20
US dollar	Euro	—	42.0	Dec - 18
US dollar	Mexican peso	574.5	—	Dec - 19



(in millions)	Assets					Liabilities
Derivatives designated as hedging instruments Under Topic 815:	Location	December 31, 2018		December 31, 2017		Location	December 31, 2018		December 31, 2017
Foreign currency	Prepayments and other current assets	$	1.9	$	0.9	Accounts payable and accrued expenses	$	1.6	$	3.9
	Other non-current assets	$	—	$	0.8	Other non-current liabilities	$	0.1	$	—
Commodity	Prepayments and other current assets	$	—	$	—	Accounts payable and accrued expenses	$	0.2	$	—
Net investment hedges	Prepayments and other current assets	$	—	$	—	Accounts payable and accrued expenses	$	—	$	—
	Other non-current assets	$	11.9	$	—	Other non-current liabilities	$	—	$	—
Derivatives not designated as hedging instruments
Foreign currency	Prepayments and other current assets	$	1.1	$	—	Accounts payable and accrued expenses	$	—	$	1.1



(in millions)	Deferred gain (loss) in AOCI at						Gain (loss) expected to be reclassified to income in one year or less
Contract Type	December 31, 2018			December 31, 2017
Foreign currency	$	0.1		$	(2.3	)	$	—
Commodity	(0.2		)	—			(0.2		)
Net investment hedges:	—
Foreign currency	4.5			2.9			—
Cross-currency swaps	11.9			—			—
Foreign currency denominated debt	(30.4		)	(57.1		)	—
Total	$	(14.1	)	$	(56.5	)	$	(0.2	)



	Year Ended December 31, 2018
(in millions)	Net sales			Cost of sales			Selling, general and administrative expenses			Other comprehensive income
Total amounts of earnings and other comprehensive income line items in which the effects of cash flow hedges are recorded	$	10,529.6		$	8,300.2		$	945.7		$	(170.1	)

Gain (loss) on cash flow hedging relationships:

Foreign currency
Gain (loss) recognized in other comprehensive income	$	—		$	—		$	—		$	(1.3	)
Gain (loss) reclassified from AOCI to income	$	(2.3	)	$	(1.1	)	$	(0.3	)	$	—
Gain (loss) reclassified from AOCI to income as a result that a forecasted transaction is no longer probable of occurring	$	—		$	—		$	—		$	—

Commodity
Gain (loss) recognized in other comprehensive income	$	—		$	—		$	—		$	(0.4	)
Gain (loss) reclassified from AOCI to income	$	—		$	(0.2	)	$	—		$	—
Gain (loss) reclassified from AOCI to income as a result that a forecasted transaction is no longer probable of occurring	$	—		$	—		$	—		$	—



	Year Ended December 31, 2017
(in millions)	Net sales		Cost of sales			Selling, general and administrative expenses			Other comprehensive income
Total amounts of earnings and other comprehensive income line items in which the effects of cash flow hedges are recorded	$	9,799.3	$	7,683.7		$	899.1		$	232.1

Gain (loss) on cash flow hedging relationships:

Foreign currency
Gain (loss) recognized in other comprehensive income	$	—	$	—		$	—		$	(4.7	)
Gain (loss) reclassified from AOCI to income	$	3.4	$	(0.1	)	$	—		$	—
Gain (loss) reclassified from AOCI to income as a result that a forecasted transaction is no longer probable of occurring	$	—	$	—		$	(0.1	)	$	—

Commodity
Gain (loss) recognized in other comprehensive income	$	—	$	—		$	—		$	0.6
Gain (loss) reclassified from AOCI to income	$	—	$	0.5		$	—		$	—
Gain (loss) reclassified from AOCI to income as a result that a forecasted transaction is no longer probable of occurring	$	—	$	—		$	—		$	—



	Year Ended December 31, 2016
(in millions)	Net sales			Cost of sales			Selling, general and administrative expenses		Other comprehensive income
Total amounts of earnings and other comprehensive income line items in which the effects of cash flow hedges are recorded	$	9,071.0		$	7,142.3		$	818.0	$	(111.9	)

Gain (loss) on cash flow hedging relationships:

Foreign currency
Gain (loss) recognized in other comprehensive income	$	—		$	—		$	—	$	7.0
Gain (loss) reclassified from AOCI to income	$	(0.1	)	$	1.4		$	—	$	—
Gain (loss) reclassified from AOCI to income as a result that a forecasted transaction is no longer probable of occurring	$	—		$	—		$	0.3	$	—

Commodity
Gain (loss) recognized in other comprehensive income	$	—		$	—		$	—	$	0.6
Gain (loss) reclassified from AOCI to income	$	—		$	(1.4	)	$	—	$	—
Gain (loss) reclassified from AOCI to income as a result that a forecasted transaction is no longer probable of occurring	$	—		$	(0.3	)	$	—	$	—



(in millions)	Year Ended December 31,
Net investment hedges	2018		2017			2016
Foreign currency	$	1.6	$	(7.9	)	$	0.4
Cross-currency swaps	$	11.9	$	—		$	—
Foreign currency denominated debt	$	26.7	$	(83.7	)	$	16.8



		Year Ended December 31,
(in millions)		2018				2017				2016
Contract Type	Location	Gain (loss) on swaps		Gain (loss) on borrowings		Gain (loss) on swaps		Gain (loss) on borrowings		Gain (loss) on swaps		Gain (loss) on borrowings
Interest rate swap	Interest expense and finance charges	$	—	$	—	$	—	$	—	$	8.5	$	(8.5	)