Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2017

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 June 30, 2017 and December 31, 2016 (in millions):

Buy	Notional Amount in Buy Currency	Sell	Maturity	Notional Amount in U.S. Dollars		Fair Value of Assets		Fair Value of Liabilities
June 30, 2017:
Euro	83.6	U.S. Dollars	July 2017 to January 2018	$	90.7	$	5.3	$	—
U.S. Dollars	4.3	Euro	July 2017	4.3		—		0.1
Swiss Francs	10.9	U.S. Dollars	July 2017	11.0		0.4		—
Euro	1.4	Polish Zloty	July 2017	1.6		—		—
				$	107.6	$	5.7	$	0.1
December 31, 2016:
Euro	21.1	U.S. Dollars	January 2017	$	23.3	$	—	$	1.1
Swiss Francs	7.9	U.S. Dollars	January 2017	8.0		—		0.3
U.S. Dollars	4.0	Israel Shekel	January 2017	4.0		—		—
Israel Shekel	15.3	U.S. Dollars	January 2017	4.0		—		—
Euro	1.4	Polish Zloty	January 2017	1.4		—		—
				$	40.7	$	—	$	1.4

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):

		June 30,		December 31,
	Balance Sheet Location	2017		2016
Derivative assets:
Foreign exchange contracts	Other current assets	$	5.7	$	—
Embedded derivatives in purchase and delivery contracts	Other current assets	0.8		2.7
Fixed price commodity contracts	Other current assets	0.4		0.2
Embedded derivatives in purchase and delivery contracts	Other long-term assets	—		1.3
Derivative liabilities:
Foreign exchange contracts	Other current liabilities	$	0.1	$	1.4
Embedded derivatives in purchase and delivery contracts	Other current liabilities	0.5		0.3
Embedded derivatives in purchase and delivery contracts	Other long-term liabilities	0.3		—

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 June 30,						Six Months Ended June 30,
	2017			2016			2017			2016
Foreign exchange contracts	$	6.1		$	(1.6	)	$	7.0		$	0.6
Embedded derivatives in purchase and delivery contracts	(3.0		)	—			(3.7		)	(0.3		)
Fixed price commodity contracts	0.1			0.1			0.2			0.2
Net impact to interest and other income (expense)	$	3.2		$	(1.5	)	$	3.5		$	0.5