XML 27 R15.htm IDEA: XBRL DOCUMENT v3.20.2
Other Comprehensive Income/(Loss)
 6 Months Ended
Jun. 30, 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 June 30, 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
86.2

 
—

 
—

 
—

 
86.2

Other comprehensive income, net
—

 
3.3

 
—

 
—

 
3.3

Other comprehensive income/(loss), net of tax
86.2

 
3.3

 
—

 
—

 
89.5

 
 
 
 
 
 
 
 
 
 
Beginning balance
(777.0
)
 
(129.2
)
 
0.1

 
0.6

 
(905.5
)
Other comprehensive income/(loss), net of tax
86.2

 
3.3

 
—

 
—

 
89.5

Ending balance
(690.8
)
 
(125.9
)
 
0.1

 
0.6

 
(816.0
)
 
For the six months ended June 30, 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
(228.8
)
 
—

 
—

 
—

 
(228.8
)
Other comprehensive income, net
—

 
0.2

 
—

 
(0.1
)
 
0.1

Other comprehensive income/(loss), net of tax
(228.8
)
 
0.2

 
—

 
(0.1
)
 
(228.7
)
 
 
 
 
 
 
 
 
 
 
Beginning balance
(462.0
)
 
(126.1
)
 
0.1

 
0.7

 
(587.3
)
Other comprehensive income/(loss), net of tax
(228.8
)
 
0.2

 
—

 
(0.1
)
 
(228.7
)
Ending balance
(690.8
)
 
(125.9
)
 
0.1

 
0.6

 
(816.0
)
 
For the three months ended June 30, 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
1.5

 
—

 
—

 
—

 
1.5

Other comprehensive income, net
—

 
0.6

 
0.1

 
—

 
0.7

Other comprehensive income/(loss), net of tax
1.5

 
0.6

 
0.1

 
—

 
2.2

 
 
 
 
 
 
 
 
 
 
Beginning balance
(556.7
)
 
(117.5
)
 
—

 
0.6

 
(673.6
)
Other comprehensive income/(loss), net of tax
1.5

 
0.6

 
0.1

 
—

 
2.2

Ending balance
(555.2
)
 
(116.9
)
 
0.1

 
0.6

 
(671.4
)
 
For the six months ended June 30, 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
62.4

 
—

 
—

 
—

 
62.4

Other comprehensive income, net
—

 
0.8

 
0.1

 
0.3

 
1.2

Other comprehensive income/(loss), net of tax
62.4

 
0.8

 
0.1

 
0.3

 
63.6

 
 
 
 
 
 
 
 
 
 
Beginning balance
(617.6
)
 
(117.7
)
 
—

 
0.3

 
(735.0
)
Other comprehensive income/(loss), net of tax
62.4

 
0.8

 
0.1

 
0.3

 
63.6

Ending balance
(555.2
)
 
(116.9
)
 
0.1

 
0.6

 
(671.4
)


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 June 30, 2020 and December 31, 2019, £130 million ($162.7 million and $172.1 million, respectively) of intercompany debt was designated as a net investment hedge. For the three and six months ended June 30, 2020, the company recognized foreign currency losses and gains of $1.9 million and $9.4 million, respectively (three and six months ended June 30, 2019: gains of $4.2 million and $0.1 million, respectively) resulting from the net investment hedge within currency translation differences on investments in foreign subsidiaries in Other comprehensive income.