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Derivatives and Hedging Activities (Tables)
 3 Months Ended
Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value of Derivative Instruments
The following table details the fair value of our derivative instruments included on our Condensed Consolidated Balance Sheets.
 
Cash Flow Hedge
 
Non-Designated as Hedging Instruments
 
Total
(In millions)
March 31, 2019
 
December 31, 2018
 
March 31, 2019
 
December 31, 2018
 
March 31, 2019
 
December 31, 2018
Derivative Assets
 

 
 

 
 

 
 

 
 

 
 

Foreign currency forward contracts
$
0.9

 
$
1.8

 
$
2.4

 
$
1.7

 
$
3.3

 
$
3.5

Total Derivative Assets
$
0.9

 
$
1.8

 
$
2.4

 
$
1.7

 
$
3.3

 
$
3.5

 
 
 
 
 
 
 
 
 
 
 
 
Derivative Liabilities
 

 
 

 
 

 
 

 
 

 
 

Foreign currency forward contracts
$
(0.6
)
 
$
(0.2
)
 
$
(2.6
)
 
$
(2.7
)
 
$
(3.2
)
 
$
(2.9
)
Total Derivative Liabilities(1)
$
(0.6
)
 
$
(0.2
)
 
$
(2.6
)
 
$
(2.7
)
 
$
(3.2
)
 
$
(2.9
)
Net Derivatives(2)
$
0.3

 
$
1.6

 
$
(0.2
)
 
$
(1.0
)
 
$
0.1

 
$
0.6

 
(1) 
Excludes €400.0 million of euro-denominated debt ($446.1 million equivalent at March 31, 2019 and $454.9 million equivalent at December 31, 2018), designated as a net investment hedge.
(2) 
The following table reconciles gross positions without the impact of master netting agreements to the balance sheet classification:
 
Other Current Assets
 
Other Current Liabilities
(In millions)
March 31, 2019
 
December 31, 2018
 
March 31, 2019
 
December 31, 2018
Gross position
$
3.3

 
$
3.5

 
$
(3.2
)
 
$
(2.9
)
Impact of master netting agreements
(1.3
)
 
(1.4
)
 
1.3

 
1.4

Net amounts recognized on the Condensed Consolidated Balance Sheets
$
2.0

 
$
2.1

 
$
(1.9
)
 
$
(1.5
)
Offsetting Assets
The following table reconciles gross positions without the impact of master netting agreements to the balance sheet classification:
 
Other Current Assets
 
Other Current Liabilities
(In millions)
March 31, 2019
 
December 31, 2018
 
March 31, 2019
 
December 31, 2018
Gross position
$
3.3

 
$
3.5

 
$
(3.2
)
 
$
(2.9
)
Impact of master netting agreements
(1.3
)
 
(1.4
)
 
1.3

 
1.4

Net amounts recognized on the Condensed Consolidated Balance Sheets
$
2.0

 
$
2.1

 
$
(1.9
)
 
$
(1.5
)
Offsetting Liabilities
The following table reconciles gross positions without the impact of master netting agreements to the balance sheet classification:
 
Other Current Assets
 
Other Current Liabilities
(In millions)
March 31, 2019
 
December 31, 2018
 
March 31, 2019
 
December 31, 2018
Gross position
$
3.3

 
$
3.5

 
$
(3.2
)
 
$
(2.9
)
Impact of master netting agreements
(1.3
)
 
(1.4
)
 
1.3

 
1.4

Net amounts recognized on the Condensed Consolidated Balance Sheets
$
2.0

 
$
2.1

 
$
(1.9
)
 
$
(1.5
)
Effect of Derivative Instruments on Condensed Consolidated Statements of Operations
The following table details the effect of our derivative instruments on our Condensed Consolidated Statements of Operations.
 
 
 
Amount of Gain (Loss) Recognized in
Earnings on Derivatives
 
Location of Gain (Loss) Recognized on
 
Three Months Ended
March 31,
(In millions)
Condensed Consolidated Statements of Operations
 
2019
 
2018
Derivatives designated as hedging instruments:
 
 
 

 
 

Cash Flow Hedges:
 
 
 

 
 

Foreign currency forward contracts
Cost of sales
 
$
0.6

 
$
(0.6
)
Sub-total cash flow hedges
 
 
0.6

 
(0.6
)
Fair Value Hedges:
 
 
 

 
 

Interest rate swaps
Interest expense, net
 
0.1

 
0.1

Derivatives not designated as hedging instruments:
 
 
 

 
 

Foreign currency forward contracts
Other expense, net
 
(2.7
)
 
(1.2
)
Total
 
 
$
(2.0
)
 
$
(1.7
)