Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2018 and December 31, 2017 (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, 2018:
Euro	51.7	U.S. Dollars	July 2018 to January 2019	$	64.4	$	—	$	3.7
U.S. Dollars	16.5	Euro	July 2018	16.0		0.5		—
Swiss Francs	12.5	U.S. Dollars	July 2018	13.0		—		0.4
U.S. Dollars	3.1	Swiss Francs	July 2018	3.1		—		—
Swiss Francs	1.1	Japanese Yen	July 2018	1.1		—		—
Japanese Yen	120.9	Swiss Francs	July 2018	1.1		—		—
U.S. Dollars	2.6	Japanese Yen	July 2018	2.5		0.1		—
Japanese Yen	282.0	U.S. Dollars	July 2018	2.6		—		—
Euro	1.7	Japanese Yen	July 2018	2.0		—		0.1
Japanese Yen	219.8	Euro	July 2018	1.4		—		—
Singapore Dollar	3.2	U.S. Dollars	July 2018	2.4		—		0.1
				$	109.6	$	0.6	$	4.3
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 is recorded in the unaudited condensed consolidated balance sheets for the periods as follows (in millions):

		June 30,		December 31,
	Balance Sheet Location	2018		2017
Derivative assets:
Foreign exchange contracts	Other current assets	$	0.6	$	4.5
Embedded derivatives in purchase and delivery contracts	Other current assets	0.6		0.9
Fixed price commodity contracts	Other current assets	—		0.8
Embedded derivatives in purchase and delivery contracts	Other long-term assets	0.1		—
Derivative liabilities:
Foreign exchange contracts	Other current liabilities	$	4.3	$	0.1
Embedded derivatives in purchase and delivery contracts	Other current liabilities	0.6		1.5
Fixed price commodity contracts	Other current liabilities	0.1		—
Embedded derivatives in purchase and delivery contracts	Other long-term liabilities	0.8		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 not designated as hedging instruments are as follows (in millions):

	Three Months Ended June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
Foreign exchange contracts	$	(3.8	)	$	6.1		$	(8.1	)	$	7.0
Embedded derivatives in purchase and delivery contracts	1.2			(3.0		)	1.3			(3.7		)
Fixed price commodity contracts	(0.3		)	0.1			(0.9		)	0.2
Net impact to interest and other income (expense)	$	(2.9	)	$	3.2		$	(7.7	)	$	3.5