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Derivatives and Hedging Activities (Tables)
 12 Months Ended
Dec. 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 Consolidated Balance Sheets. 
 
 
Cash Flow Hedge
 
Non-Designated as Hedging Instruments
 
Total
 
 
December 31,
 
December 31,
 
December 31,
(In millions)
 
2019
 
2018
 
2019
 
2018
 
2019
 
2018
Derivative Assets
 
 

 
 

 
 

 
 

 
 

 
 

Foreign currency forward contracts
 
$
0.2

 
$
1.8

 
$
2.6

 
$
1.7

 
$
2.8

 
$
3.5

Total Derivative Assets
 
$
0.2

 
$
1.8

 
$
2.6

 
$
1.7

 
$
2.8

 
$
3.5

Derivative Liabilities
 
 

 
 

 
 

 
 

 
 

 
 

Foreign currency forward contracts
 
$
(2.0
)
 
$
(0.2
)
 
$
(2.0
)
 
$
(2.7
)
 
$
(4.0
)
 
$
(2.9
)
Total Derivative Liabilities(1)
 
$
(2.0
)
 
$
(0.2
)
 
$
(2.0
)
 
$
(2.7
)
 
$
(4.0
)
 
$
(2.9
)
Net Derivatives (2)
 
$
(1.8
)
 
$
1.6

 
$
0.6

 
$
(1.0
)
 
$
(1.2
)
 
$
0.6

 
     
(1) 
Excludes €400.0 million of euro-denominated debt ($445.6 million equivalent at December 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
 
 
December 31,
 
December 31,
(In millions)
 
2019
 
2018
 
2019
 
2018
Gross position
 
$
2.8

 
$
3.5

 
$
(4.0
)
 
$
(2.9
)
Impact of master netting agreements
 
(1.1
)
 
(1.4
)
 
1.1

 
1.4

Net amounts recognized on the Consolidated Balance Sheets
 
$
1.7

 
$
2.1

 
$
(2.9
)
 
$
(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
 
 
December 31,
 
December 31,
(In millions)
 
2019
 
2018
 
2019
 
2018
Gross position
 
$
2.8

 
$
3.5

 
$
(4.0
)
 
$
(2.9
)
Impact of master netting agreements
 
(1.1
)
 
(1.4
)
 
1.1

 
1.4

Net amounts recognized on the Consolidated Balance Sheets
 
$
1.7

 
$
2.1

 
$
(2.9
)
 
$
(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
 
 
December 31,
 
December 31,
(In millions)
 
2019
 
2018
 
2019
 
2018
Gross position
 
$
2.8

 
$
3.5

 
$
(4.0
)
 
$
(2.9
)
Impact of master netting agreements
 
(1.1
)
 
(1.4
)
 
1.1

 
1.4

Net amounts recognized on the Consolidated Balance Sheets
 
$
1.7

 
$
2.1

 
$
(2.9
)
 
$
(1.5
)
Effect of Derivative Instruments on Condensed Consolidated Statements of Operations
The following table details the effect of our derivative instruments on our Consolidated Statements of Operations. 
 
 
Location of Gain (Loss) Recognized on
 
Amount of Gain (Loss) Recognized in
Earnings on Derivatives
 
 
Consolidated Statements of Operations
 
Year Ended December 31,
(In millions)
 
 
 
2019
 
2018
 
2017
Derivatives designated as hedging instruments:
 
 
 
 

 
 

 
 

Cash Flow Hedges:
 
 
 
 

 
 

 
 

Foreign currency forward contracts
 
Cost of sales
 
$
1.6

 
$
0.2

 
$
(0.2
)
Treasury locks
 
Interest expense, net
 
0.1

 
0.1

 
0.1

Sub-total cash flow hedges
 
 
 
1.7

 
0.3

 
(0.1
)
Fair Value Hedges:
 
 
 
 

 
 

 
 

Interest rate swaps
 
Interest expense, net
 
0.6

 
0.5

 
0.5

Derivatives not designated as hedging instruments:
 
 
 
 

 
 

 
 

Foreign currency forward contracts
 
Other (expense) income, net
 
(6.6
)
 
(12.3
)
 
(11.5
)
Total
 
 
 
$
(4.3
)
 
$
(11.5
)
 
$
(11.1
)