Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2018

Derivative Instruments and Hedging Activities

Schedule of notional amounts outstanding under foreign currency contracts

The Company had the following notional amounts outstanding under foreign exchange contracts at December 31, (in millions):

	Notional			Notional
	Amount in Buy			Amount in		Fair Value of		Fair Value of
Buy	Currency	Sell	Maturity	U.S. Dollars		Assets		Liabilities
December 31, 2018:
Euro	25.4	U.S. Dollars	January 2019	$	31.1	$	—	$	2.1
U.S. Dollars	8.5	Euro	January 2019		8.6		—		0.1
Swiss Francs	11.1	U.S. Dollars	January 2019		11.3		—		—
U.S. Dollars	2.1	Swiss Francs	January 2019		2.1		—		—
Swiss Francs	10.4	Japanese Yen	April 2019		10.8		—		0.2
U.S. Dollars	1.5	Canadian Dollars	January 2019		1.5		—		—
Singapore Dollar	4.3	U.S. Dollars	January 2019		3.1		—		—
Chinese Renminbi	41.1	U.S. Dollars	January 2019		5.9		0.1		—
Great Britain Pound	15.4	Euro	January 2019		20.0		—		0.4
Euro	6.9	Great Britain Pound	May 2019 to October 2020		8.0		0.1		—
				$	102.4	$	0.2	$	2.8
December 31, 2017:
Euro	59.5	U.S. Dollars	January 2018	$	67.0	$	4.5	$	—
Swiss Francs	11.0	U.S. Dollars	January 2018		11.3		—		—
Singapore Dollar	4.9	U.S. Dollars	January 2018		3.6		—		—
Euro	1.8	Polish Zloty	January 2018		2.3		—		0.1
				$	84.2	$	4.5	$	0.1

Schedule of fair value and balance sheet location of derivative instruments

The fair value of the derivative instruments described above were recorded in the consolidated balance sheets for the years ended December 31, 2018 and 2017 as follows (in millions):

	Balance Sheet Location	2018		2017
Derivative assets:
Foreign exchange contracts	Other current assets	$	0.2	$	4.5
Embedded derivatives in purchase and delivery contracts	Other current assets		0.2		0.9
Fixed price commodity contracts	Other current assets		—		0.8
Embedded derivatives in purchase and delivery contracts	Other long-term assets		0.2		—
Derivative liabilities:
Foreign exchange contracts	Other current liabilities	$	2.8	$	0.1
Embedded derivatives in purchase and delivery contracts	Other current liabilities		0.9		1.5
Fixed price commodity contracts	Other current liabilities		0.5		—
Embedded derivatives in purchase and delivery contracts	Other long-term liabilities		—		1.4

Schedule of impact on net income of unrealized gains and losses resulting from changes in the fair value of derivative instruments

The impact on net income of unrealized gains and losses resulting from changes in the fair value of derivative instruments for the years ending December 31 are as follows (in millions) and are recorded within interest and other income (expense), net in the consolidated statements of income and comprehensive income:

	2018		2017		2016
Foreign exchange contracts	$	(7.0)	$	5.8	$	(0.1)
Embedded derivatives in purchase and delivery contracts		1.5		(5.7)		3.7
Fixed price commodity contracts		(1.3)		0.6		0.6
Income (expense), net	$	(6.8)	$	0.7	$	4.2