Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2015

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 September 30, 2015 and December 31, 2014 (in millions):

Buy	Notional Amount in Buy Currency	Sell	Maturity	Notional Amount in U.S. Dollars		Fair Value of Assets		Fair Value of Liabilities
September 30, 2015:
Euro	56.4	U.S. Dollars	October 2015	$	61.7	$	1.3	$	—
U.S. Dollars	0.1	Euro	December 2015	0.1		—		—
Swiss Francs	36.7	U.S. Dollars	October 2015	38.3		—		0.6
				$	100.1	$	1.3	$	0.6
December 31, 2014:
Euro	43.3	U.S. Dollars	January 2015 to September 2015	$	55.4	$	—	$	2.9
U.S. Dollars	0.3	Euro	February 2015 to December 2015	0.3		—		—
Euro	0.1	British Pounds	January 2015 to June 2015	0.1		—		—
Yen	5.7	Euro	March 2015	0.1		—		—
Swiss Francs	41.4	U.S. Dollars	January 2015	43.9		—		2.2
				$	99.8	$	—	$	5.1

Schedule of fair value and balance sheet location of derivative instruments

The fair value of the derivative instruments described above is recorded in the consolidated balance sheets for the periods as follows (in millions):

		September 30,		December 31,
	Balance Sheet Location	2015		2014
Derivative assets:
Foreign exchange contracts	Other current assets	$	1.3	$	—
Embedded derivatives in purchase and delivery contracts	Other current assets	0.4		0.6
Derivative liabilities:
Foreign exchange contracts	Other current liabilities	$	0.6	$	5.1
Embedded derivatives in purchase and delivery contracts	Other current liabilities	0.4		0.4
Fixed price commodity contracts	Other current liabilities	0.4		0.2

Schedule of impact on net income of unrealized gains and losses resulting from changes in the fair value of derivative instruments not designated as hedging instruments

The impact on net income of unrealized gains and losses resulting from changes in the fair value of derivative instruments not designated as hedging instruments are as follows (in millions):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Foreign exchange contracts	$	(2.2	)	$	(6.3	)	$	5.8		$	(9.5	)
Embedded derivatives in purchase and delivery contracts	(0.4		)	0.2			(0.2		)	0.2
Fixed price commodity contracts	(0.1		)	(0.2		)	(0.2		)	(0.2		)
Income (expense), net	$	(2.7	)	$	(6.3	)	$	5.4		$	(9.5	)