Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2016

Derivative Instruments and Hedging Activities

Schedule of notional amounts outstanding under foreign exchange contracts

The Company had the following notional amounts outstanding under foreign exchange contracts at March 31, 2016 and December 31, 2015 (in millions):

Buy	Notional Amount in Buy Currency	Sell	Maturity	Notional Amount in U.S. Dollars		Fair Value of Assets		Fair Value of Liabilities
March 31, 2016:
Euro	22.0	U.S. Dollars	April 2016	$	24.2	$	0.9	$	—
Swiss Francs	5.9	U.S. Dollars	April 2016	6.0		0.2		—
U.S. Dollars	6.0	Israel Shekel	April 2016	6.0		—		0.2
				$	36.2	$	1.1	$	0.2
December 31, 2015:
Euro	21.1	U.S. Dollars	January 2016	$	24.2	$	—	$	1.2
Swiss Francs	5.9	U.S. Dollars	April 2016	6.0		—		0.1
U.S. Dollars	6.0	Israel Shekel	April 2016	6.0		—		—
				$	36.2	$	—	$	1.3

Schedule of fair value and balance sheet location of derivative instruments

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

		March 31,		December 31,
	Balance Sheet Location	2016		2015
Derivative assets:
Foreign exchange contracts	Other current assets	$	1.1	$	—
Embedded derivatives in purchase and delivery contracts	Other current assets	0.1		0.5
Derivative liabilities:
Foreign exchange contracts	Other current liabilities	$	0.2	$	1.3
Embedded derivatives in purchase and delivery contracts	Other current liabilities	0.4		0.5
Fixed price commodity contracts	Other current liabilities	0.3		0.4

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 not designated as hedging instruments are as follows (in millions):

	Three Months Ended March 31,
	2016			2015
Foreign exchange contracts	$	2.2		$	(2.7	)
Embedded derivatives in purchase and delivery contracts	(0.3		)	0.3
Fixed price commodity contracts	0.1			—
Income (expense), net	$	2.0		$	(2.4	)