Leases (Tables)

6 Months Ended

Jun. 30, 2019

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

Recently Issued Accounting Standards

The following table provides a brief description of recent accounting pronouncements adopted January 1, 2019. Unless otherwise noted, the adoption of these standards did not have a material effect on the Company's financial position, results of operations, cash flows or related disclosures.



Standard		Description
Accounting Standards Update ("ASU") No. 2016-02, Leases (Topic 842)(Subsequent ASUs have been issued in 2017, 2018 and 2019 to update or clarify this guidance)		The guidance requires lessees (with the exception of short-term leases) to recognize, at the commencement date, a lease liability, which is a lessee's obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. See Note 4 for additional information.
ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities		The guidance makes targeted changes to the hedge accounting model intended to facilitate financial reporting that more closely reflects an entity’s risk management activities and to simplify the application of hedge accounting. Changes include expanding the types of risk management strategies eligible for hedge accounting, easing the documentation and effectiveness assessment requirements, changing how ineffectiveness is measured and changing the presentation and disclosure requirements for hedge accounting activities.
ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income ("OCI")		The guidance provides an election to reclassify the stranded tax effects resulting from the Tax Reform Act from OCI to retained earnings. In addition, the guidance requires new disclosures regarding the election to adopt and the manner in which tax effects remaining in OCI are released. The Company adopted the standard on January 1, 2019 and recorded a cumulative adjustment to retained earnings of $3.9 million for income tax benefits stranded in OCI resulting from the Tax Reform Act.
ASU 2018-07, Compensation-Stock Compensation (Topic 718)		The guidance addresses the accounting for non-employee share-based payment transactions.
ASU 2018-16, Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes		The guidance permits the use of the OIS rate based on SOFR as a U.S. benchmark interest rate for hedge accounting purposes in addition to treasury obligations of the U.S. government, the LIBOR swap rate, the OIS rate based on the Federal Funds Effective Rate, and the Securities Industry and Financial Markets Association Municipal Swap Rate.

The following table provides a brief description of recent accounting pronouncements not yet adopted:



Standard	Description	Required Date of Adoption	Effect on the financial statements or other significant matters
ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326)(Subsequent ASUs have been issued in 2018 and 2019 to update or clarify this guidance)	The guidance eliminates the probable initial recognition threshold and requires an entity to reflect its current estimate of all expected credit losses. The guidance also requires additional disclosures in certain circumstances.	January 1, 2020	The Company is currently evaluating the alternative methods of adoption and the effect on its financial position, results of operations, cash flows and related disclosures.
ASU 2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities	The guidance provides that indirect interests held through related parties in common control arrangements should be considered on a proportional basis for determining whether fees paid to decision makers and service providers are variable interests.	January 1, 2020	The Company is currently evaluating the guidance and the effect on its financial position, results of operations, cash flows and related disclosures.



Standard	Description	Required Date of Adoption	Effect on the financial statements or other significant matters
ASU 2018-18, Collaborative Arrangements (Topic 808): Clarifying the Interaction between Topic 808 and Topic 606	The guidance clarifies the accounting for collaborative arrangements in conjunction with the adoption of "Revenue from Contracts with Customers (Topic 606)."	January 1, 2020	The Company is currently evaluating the guidance and the effect on its financial position, results of operations, cash flows and related disclosures.
ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment	The guidance removes the second step of the two-step test for the measurement of goodwill impairment.	January 1, 2020	The Company is currently evaluating the timing of adoption and the effect on its current impairment testing process.
ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement	The guidance removes, modifies and adds certain disclosures relating to fair value measurements.	January 1, 2020	The Company is currently evaluating the guidance and the effect on its financial position, results of operations, cash flows and related disclosures.
ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract	The guidance aligns the requirements for capitalizing implementation costs incurred in a hosting agreement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software.	January 1, 2021	The Company is currently evaluating the guidance and the effect on its financial position, results of operations, cash flows and related disclosures.



	Balance at December 31, 2018		Adjustments due to New Lease Standard			Balance at January 1, 2019
Other non-current assets	$	36.4	$	82.7		$	119.1
Deferred income tax assets	26.3		(0.5		)	25.8
Other current liabilities	154.1		16.3			170.4
Other long-term liabilities	130.2		64.5			194.7
Retained earnings	407.3		1.4			408.7

Operating and Finance Leases Recognized on the Balance Sheet [Table Text Block]



	Location on Balance Sheet	June 30, 2019
Assets
Operating lease assets	Other non-current assets	$	81.2
Finance lease assets	Property, plant and equipment, net	22.0
Total		$	103.2
Liabilities
Current
Operating lease liabilities	Other current liabilities	19.0
Finance lease liabilities	Current maturities of long-term debt	6.9
Long-term
Operating lease liabilities	Other long-term liabilities	66.7
Finance lease liabilities	Long-term debt	8.9
Total		$	101.5

Remaining Lease Term and Weighted Average Discount Rates [Table Text Block]

Lease, Cost [Table Text Block]



		THREE MONTHS ENDED			SIX MONTHS ENDED
	Location on Income Statement	June 30, 2019			June 30, 2019
Operating lease cost	Cost of sales	$	2.1		$	4.0
Operating lease cost	Selling, general and administrative expenses	4.0			8.0
Finance lease cost
Amortization of leased assets	Cost of sales	1.8			3.6
Interest on lease liabilities	Interest expense	0.3			0.4
Other lease costs¹	Selling, general and administrative expenses	0.1			0.5
Sublease income	Revenues	(3.7		)	(5.4		)
Total		$	4.6		$	11.1
¹ - Includes short-term and variable lease costs.

Cash Flows of Operating and Finance Leases [Table Text Block]



	SIX MONTHS ENDED
	June 30, 2019
Cash paid for lease liabilities
Operating cash flows from operating leases	$	11.6
Operating cash flows from finance leases	0.4
Financing cash flows from finance leases	3.7
Non-cash amounts related to right-of-use assets obtained in exchange for lease obligations
Operating	8.7
Finance	1.6

Lessee, Operating Lease, Liability, Maturity [Table Text Block]



	Operating Leases			Finance Leases			Total
Amounts remaining in 2019	$	11.8		$	3.8		$	15.6
2020	20.4			6.7			27.1
2021	16.1			4.0			20.1
2022	12.8			1.2			14.0
2023	9.6			0.8			10.4
Thereafter	31.2			0.1			31.3
	101.9			16.6			118.5
Less: Interest	(16.2		)	(0.8		)	(17.0		)
Net	$	85.7		$	15.8		$	101.5

Operating Leases

Finance Leases

Weighted-average remaining lease term in years

Weighted-average discount rate