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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
12 Months Ended
Dec. 31, 2017
Schedule of Interest Rate Swap
Hedged ItemNature of SwapNotional AmountAs of December 31,Floating Interest Rate
20172016
2010 Senior Notes due 2020Pay Floating/Receive Fixed$500.0$500.03-month LIBOR
2014 Senior Notes due 2019Pay Floating/Receive Fixed$450.0$450.03-month LIBOR
2012 Senior Notes due 2022Pay Floating/Receive Fixed$80.0$80.03-month LIBOR
Gains and Losses on Derivatives Designated as Hedging Instruments
Amount of Income Recognized in the Consolidated Statements of Operations
Year Ended December 31,
Derivatives Designated as Fair Value Accounting HedgesLocation on Consolidated Statement of Operations201720162015
Interest rate swaps Interest expense, net$6.7$11.2$15.2
Amount of Gain/(Loss) Recognized in AOCI on Derivative Net Investment Hedging Relationships (Effectiveness Portion)
Amount of Gain/(Loss) Recognized in AOCI on Derivative (Effective Portion), net of TaxAmount of Gain/(Loss) Reclassified from AOCI into Income (Effective Portion), net of tax
Derivatives and Non-Derivative Instruments in Net Investment Hedging RelationshipsYear Ended December 31,Year Ended December 31,
201720162015201720162015
FX forwards$1.2$(12.0)$13.4$-$-$-
Long-term debt(37.2)7.84.7---
Total net investment hedges$(36.0)$(4.2)$18.1$-$-$-
Derivatives in Cash Flow Hedging Relationships
Cross currency swap$6.3$(0.9)$-$7.8*$(3.7)*$-
Interest rate contracts(0.4)-(1.1)(1.1)--
Total cash flow hedges5.9(0.9)(1.1)6.7(3.7)-
Total $(30.1)$(5.1)$17.0$6.7$(3.7)$-
* Reflects $12.6 million in gains and $6 million in losses in 2017 and 2016, respectively, recorded in other non-operating income (expense), net of $4.8 million and $2.3 million in 2017 and 2016, respectively, relating to the tax effect of the aforementioned items.
Cumulative Amount of Unrecognized Hedge Losses Recorded in Accumulated Other Comprehensive Income
Cumulative Gains/(Losses), net of tax
December 31,December 31,
20172016
Net investment hedges
FX forwards$23.5$22.3
Long-term debt (24.7)12.5
Total net investment hedges$(1.2)$34.8
Cash flow hedges
Interest rate contracts$(0.4)$(1.1)
Cross currency swap1.32.8
Total losses on cash flow hedges0.91.7
Total net (losses) gains in AOCI$(0.3)$36.5
Gains and Losses Recognized in Consolidated Statement of Operations on Derivatives Not Designated as Hedging Instruments
Year Ended December 31,
Derivatives Not Designated as Accounting HedgesLocation on Statement of Operations201720162015
Foreign exchange forwardsOther non-operating income, net$21.5$(7.2)$(2.8)
Foreign exchange forwards relating to Bureau van Dijk acquisitionPurchase Price Hedge Gain10.3--
FX collar relating to Bureau van Dijk acquisitionPurchase Price Hedge Gain100.8--
$132.6$(7.2)$(2.8)
Fair Value of Derivative Instruments
Derivative and Non-derivative Instruments
Balance Sheet LocationDecember 31, 2017December 31, 2016
Assets:
Derivatives designated as accounting hedges:
FX forwards on net investment in certain foreign subsidiariesOther current assets$-$0.6
Interest rate swapsOther assets0.57.0
Total derivatives designated as accounting hedges0.57.6
Derivatives not designated as accounting hedges:
FX forwards on certain assets and liabilitiesOther current assets12.5-
Total assets$13.0$7.6
Liabilities:
Derivatives designated as accounting hedges:
Cross-currency swapOther non-current liabilities$-$3.8
Interest rate swapsOther non-current liabilities3.50.8
Total derivatives designated as accounting hedges3.54.6
Non-derivative instrument designated as accounting hedge:
Long-term debt designated as net investment hedgeLong-term debt600.4421.9
Derivatives not designated as accounting hedges:
FX forwards on certain assets and liabilitiesAccounts payable and accrued liabilities2.00.8
Total liabilities$605.9$427.3
Net Investment Hedging [Member]  
Summary of Notional Amounts of Outstanding Derivative Positions
December 31,December 31,
20172016
Notional amount of net investment hedges:SellBuySellBuy
Contracts to sell GBP for euros£--£22.126.4
Foreign Exchange Forwards [Member]  
Summary of Notional Amounts of Outstanding Derivative Positions
December 31,December 31,
20172016
Notional Amount of Currency Pair:SellBuySellBuy
Contracts to sell USD for GBP$484.7£362.3$-£-
Contracts to sell USD for Japanese Yen$24.3¥2,700.0$-¥-
Contracts to sell USD for Canadian dollars$51.7C$64.0$-C$-
Contracts to sell Singapore dollars for EURS$--S$55.536.0
Contracts to sell euros for GBP-£-31.0£25.9
Contracts to sell USD for Singapore dollars$39.2S$53.0$-S$-
Contracts to sell USD for EUR$465.2390.0$--
NOTE: € = Euro, £ = British pound, S$ = Singapore dollar, $ = U.S. dollar, ¥ = Japanese Yen, C$ = Canadian dollar