Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2019

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 March 31, 2019 and December 31, 2018 (in millions):

	Notional			Notional
	Amount in Buy			Amount in U.S.		Fair Value of		Fair Value of
Buy	Currency	Sell	Maturity	Dollars		Assets		Liabilities
March 31, 2019:
Euro	25.0	U.S. Dollars	April 2019	$	28.6	$	—	$	0.6
Great Britain Pound	14.7	Euro	April 2019		18.6		0.5		—
Swiss Francs	10.4	Japanese Yen	April 2019		10.7		—		0.3
Swiss Francs	9.6	U.S. Dollars	April 2019		9.7		—		0.1
			May 2019 to
Euro	6.9	Great Britain Pound	October 2020		8.2		—		0.3
Taiwan Dollar	129.0	U.S. Dollars	April 2019		4.2		—		—
Chinese Renminbi	23.7	U.S. Dollars	April 2019		3.5		—		—
Singapore Dollar	4.3	U.S. Dollars	April 2019		3.2		—		—
Swedish Krona	14.8	U.S. Dollars	April 2019		1.6		—		—
U.S. Dollars	1.2	Canadian Dollars	April 2019		1.2		—		—
U.S. Dollars	1.1	Singapore Dollar	April 2019		1.1		—		—
				$	90.6	$	0.5	$	1.3
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 Britian Pound	15.4	Euro	January 2019		20.0		—		0.4
Euro	6.9	Great Britian Pound	May 2019 to		8.0		0.1		—
			October 2020
				$	102.4	$	0.2	$	2.8

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 (dollars in millions):

		March 31,		December 31,
	Balance Sheet Location	2019		2018
Derivative assets:
Foreign exchange contracts	Other current assets	$	0.5	$	0.2
Embedded derivatives in purchase and delivery contracts	Other current assets		0.3		0.2
Embedded derivatives in purchase and delivery contracts	Other long-term assets		—		0.2
Derivative liabilities:
Foreign exchange contracts	Other current liabilities	$	1.1	$	2.8
Embedded derivatives in purchase and delivery contracts	Other current liabilities		0.9		0.9
Fixed price commodity contracts	Other current liabilities		—		0.5
Foreign exchange contracts	Other long-term liabilities		0.2		—

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 (dollars in millions):

	Three Months Ended March 31,
	2019		2018
Foreign exchange contracts	$	1.7	$	(4.4)
Embedded derivatives in purchase and delivery contracts		(0.1)		0.1
Fixed price commodity contracts		0.5		(0.6)
Net impact to interest and other income (expense)	$	2.1	$	(4.9)