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Other Comprehensive Income/(Loss)
 3 Months Ended
Mar. 31, 2020
Equity [Abstract]  
OTHER COMPREHENSIVE INCOME/(LOSS) OTHER COMPREHENSIVE INCOME/(LOSS)
The components of accumulated other comprehensive income/(loss) were as follows:
 
For the three months ended March 31, 2020
$ in millions
Foreign currency translation
 
Employee benefit plans
 
Equity method investments
 
Available-for-sale investments
 
Total
Other comprehensive income/(loss) net of tax:
 
 
 
 
 
 
 
 
 
Currency translation differences on investments in foreign subsidiaries
(315.0
)
 
—

 
—

 
—

 
(315.0
)
Other comprehensive income, net
—

 
(3.1
)
 
—

 
(0.1
)
 
(3.2
)
Other comprehensive income/(loss), net of tax
(315.0
)
 
(3.1
)
 
—

 
(0.1
)
 
(318.2
)
 
 
 
 
 
 
 
 
 
 
Beginning balance
(462.0
)
 
(126.1
)
 
0.1

 
0.7

 
(587.3
)
Other comprehensive income/(loss), net of tax
(315.0
)
 
(3.1
)
 
—

 
(0.1
)
 
(318.2
)
Ending balance
(777.0
)
 
(129.2
)
 
0.1

 
0.6

 
(905.5
)


 
For the three months ended March 31, 2019
$ in millions
Foreign currency translation
 
Employee benefit plans
 
Equity method investments
 
Available-for-sale investments
 
Total
Other comprehensive income/(loss) net of tax:
 
 
 
 
 
 
 
 
 
Currency translation differences on investments in foreign subsidiaries
60.9

 
—

 
—

 
—

 
60.9

Other comprehensive income, net
—

 
0.2

 
—

 
0.3

 
0.5

Other comprehensive income/(loss), net of tax
60.9

 
0.2

 
—

 
0.3

 
61.4

 
 
 
 
 
 
 
 
 
 
Beginning balance
(617.6
)
 
(117.7
)
 
—

 
0.3

 
(735.0
)
Other comprehensive income/(loss), net of tax
60.9

 
0.2

 
—

 
0.3

 
61.4

Ending balance
(556.7
)
 
(117.5
)
 
—

 
0.6

 
(673.6
)


Net Investment Hedge
The company designated certain intercompany debt as a non-derivative net investment hedging instrument against foreign currency exposure related to its net investment in foreign operations. At March 31, 2020 and December 31, 2019, £130 million ($160.8 million and $172.1 million, respectively) of intercompany debt was designated as a net investment hedge. For the three months ended March 31, 2020, the Company recognized foreign currency gains of $11.3 million (three months ended March 31, 2019: losses of $4.1 million) resulting from the net investment hedge within currency translation differences on investments in foreign subsidiaries in other comprehensive income.