DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

6 Months Ended

Jun. 30, 2018

Hedged Item	Nature of Swap	Notional Amount				Floating Interest Rate
Hedged Item	Nature of Swap		As of June 30, 2018		As of December 31, 2017	Floating Interest Rate
2010 Senior Notes due 2020	Pay Floating/Receive Fixed	$	500.0	$	500.0	3-month LIBOR
2017 Senior Notes due 2021	Pay Floating/Receive Fixed	$	500.0	$	-	3-month LIBOR
2014 Senior Notes due 2019	Pay Floating/Receive Fixed	$	450.0	$	450.0	3-month LIBOR
2012 Senior Notes due 2022	Pay Floating/Receive Fixed	$	80.0	$	80.0	3-month LIBOR

Gains and Losses on Derivatives Designated as Hedging Instruments

			Amount of income/(loss) recognized in the consolidated statements of operations
			Three Months Ended				Six Months Ended
			June 30,				June 30,
			2018		2017		2018		2017
Total amounts of financial statement line item presented in the statements of operations in which the effects of fair value hedges are recorded
Interest expense, net		$	(53.4)	$	(49.7)	$	(104.1)	$	(97.1)
Descriptions	Location on Statement of Operations
Net interest settlements and accruals on interest rate swaps	Interest expense, net	$	(0.4)	$	1.8	$	(0.5)	$	4.2
Fair value changes on interest rate swaps	Interest expense, net	$	(2.3)	$	3.1	$	(11.5)	$	0.1
Fair value changes on hedged debt	Interest expense, net	$	2.3	$	(3.1)	$	11.5	$	(0.1)

Summary of Notional Amounts of Outstanding Foreign Exchange Forwards

	June 30,				December 31,
	2018				2017
Notional amount of currency pair:		Sell		Buy		Sell		Buy
Contracts sell USD for GBP	$	707.7	£	511.1	$	484.7	£	362.3
Contracts to sell USD for Japanese Yen	$	25.5	¥	2,700.0	$	24.3	¥	2,700.0
Contracts to sell USD for Canadian dollars	$	69.2	C$	89.0	$	51.7	C$	64.0
Contracts to sell USD for Singapore dollars	$	8.1	S$	11.0	$	39.2	S$	53.0
Contracts to sell USD for Euros	$	75.2	€	63.3	$	465.2	€	390.0
NOTE: € = Euro, £ = British pound, $ = U.S. dollar, ¥ = Japanese Yen, C$ = Canadian dollar, S$= Singapore dollars

Amount of Gain/(Loss) Recognized in AOCI on Derivative Net Investment Hedging Relationships (Effectiveness Portion)

		Amount of Gain/(Loss) Recognized in AOCI on Derivative, net of Tax				Amount of Gain/(Loss) Reclassified from AOCI into Income, net of Tax					Gain/(Loss) Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)
Derivative and Non-Derivative Instruments in Net Investment Hedging Relationships		Three Months Ended				Three Months Ended					Three Months Ended
		June 30,				June 30,					June 30,
		2018		2017 ^(a)		2018		2017 ^(a)			2018 ^(c)		2017 ^(d)
	Cross currency swaps	$	4.0	$	-	$	-	$	-		$	2.1	$	-
	FX forwards		-		0.8		-		-			-		-
	Long-term debt		23.4		(17.5)		-		-			-		-
	Total net investment hedges	$	27.4	$	(16.7)	$	-	$	-		$	2.1	$	-
Derivatives in Cash Flow Hedging Relationships
	Cross currency swap	$	-	$	3.6	$	0.1	$	4.3	^(b)	$	-	$	0.4
	Interest rate contracts		-		(0.4)		-		(1.0)			-		-
	Total cash flow hedges	$	-	$	3.2	$	0.1	$	3.3		$	-	$	0.4
Total		$	27.4	$	(13.5)	$	0.1	$	3.3		$	2.1	$	0.4

Derivative and Non-Derivative Instruments in Net Investment Hedging Relationships		Six Months Ended				Six Months Ended					Six Months Ended
		June 30,				June 30,					June 30,
		2018		2017 ^(a)		2018		2017 ^(a)			2018 ^(c)		2017 ^(d)
	Cross currency swaps	$	4.0	$	-	$		$	-		$	2.1	$	-
	FX forwards		-		0.8		-		-			-		-
	Long-term debt		12.5		(21.1)		-		-			-		-
	Total net investment hedges	$	16.5	$	(20.3)	$	-	$	-		$	2.1	$	-
Derivatives in Cash Flow Hedging Relationships
	Cross currency swap	$	1.5	$	3.4	$	0.2	$	5.3	^(b)	$	-	$	0.4
	Interest rate contracts		-		(0.4)		-		(1.1)			-		-
	Total cash flow hedges	$	1.5	$	3.0	$	0.2	$	4.2		$	-	$	0.4
Total		$	18.0	$	(17.3)	$	0.2	$	4.2		$	2.1	$	0.4

	(a) For the three and six months ended June 30, 2017, amount of gain or (loss) represents only the effective portion of the hedging relationship as this period was prior to the Company’s 2018 initial application of ASU 2017-12.
	(b) For the three and six months ended June 30, 2017, reflects $7.1 million and $8.6 million, respectively in gains recorded in other non-operating income (expense), net and $2.8 million and $3.3 million relating to the tax effect of the aforementioned item.
	(c) Effective with the adoption of ASU 2017-12, the Company has elected to assess the effectiveness of its net investment hedges based on changes in spot exchange rates. Accordingly, amounts recognized directly into Net Income during the three and six months ended June 30, 2018 related to its cross-currency swaps represent net periodic interest settlements and accruals which are recognized in interest expense, net.
	(d) For the three and six months ended June 30, 2017, amount of gain or (loss) recognized directly into income represents the ineffective portion of the hedging relationship. No hedging instruments for which ineffectiveness was recognized directly into Net Income in 2017 or in years prior were outstanding at the date of adoption of ASU 2017-12.

Cumulative Amount of Unrecognized Hedge Losses Recorded in Accumulated Other Comprehensive Income

		Cumulative Gains/(Losses), net of tax
		June 30,		December 31,
		2018		2017
Net investment hedges
Cross currency swaps		$	4.0	$	-
FX forwards			23.5		23.5
Long-term debt			(12.2)		(24.7)
	Total net investment hedges	$	15.3	$	(1.2)
Cash flow hedges
Interest rate contracts		$	(0.4)	$	(0.4)
Cross currency swap			2.6		1.3
	Total cash flow hedges		2.2		0.9
Total net gain (loss) in AOCI		$	17.5	$	(0.3)

Gains and Losses Recognized in Consolidated Statement of Operations on Derivatives Not Designated as Hedging instruments

		Three Months Ended				Six Months Ended
		June 30,				June 30,
Derivatives not designated as accounting hedges	Location on Statement of Operations	2018		2017		2018		2017
Foreign exchange forwards	Other non-operating income, net	$	(44.9)	$	7.1	$	(17.3)	$	4.8
FX collar relating to Bureau van Dijk acquisition	Purchase Price Hedge Gain		-		41.2		-		41.2
		$	(44.9)	$	48.3	$	(17.3)	$	46.0

Fair Value of Derivative Instruments

		Derivative and Non-Derivative Instruments
		Balance Sheet Location	June 30, 2018		December 31, 2017
Assets:
Derivatives designated as accounting hedges:
	Cross-currency swaps designated as net investment hedges	Other assets	$	5.4	$	-
	Interest rate swaps	Other assets		-		0.5
	Total derivatives designated as accounting hedges			5.4		0.5
Derivatives not designated as accounting hedges:
	FX forwards on certain assets and liabilities	Other current assets		0.4		12.5
Total assets			$	5.8	$	13.0
Liabilities:
Derivatives designated as accounting hedges:
	Interest rate swaps	Other non-current liabilities	$	14.5	$	3.5
	Total derivatives designated as accounting hedges			14.5		3.5
Non-derivative instrument designated as accounting hedge
	Long-term debt designated as net investment hedge	Long-term debt		583.8		600.4
Derivatives not designated as accounting hedges:
	FX forwards on certain assets and liabilities	Accounts payable and accrued liabilities		33.3		2.0
Total liabilities			$	631.6	$	605.9

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41641-113959

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624163-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41678-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41638-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5580258-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5579245-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5579240-113959

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41620-113959

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n)(2))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details