Financial Instruments and Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of interest rate swap positions

The following table summarizes the Company's current interest rate swap positions for each period presented as of March 31, 2019:

Start	End	(In Millions)  Notional Amount	Weighted Average Interest Rate
04/03/2018	01/01/2020	$150.0	2.25%
04/03/2018	10/01/2020	$150.0	2.36%
12/03/2018	01/01/2022	$120.0	2.92%
12/03/2018	01/04/2022	$80.0	2.79%

Fair value of derivative instruments

The following table summarizes the fair value of the Company’s derivative instruments:

	Derivative Assets				Derivative Liabilities
	March 31,		December 31,		March 31,		December 31,
In millions	2019		2018		2019		2018
Derivatives designated as hedging instruments:
Interest rate contracts	$	0.4	$	0.8	$	4.3	$	2.7
Foreign currency contracts	0.6		—		0.1		0.5
Commodity contracts	0.9		—		—		0.2
Total Derivatives	$	1.9	$	0.8	$	4.4	$	3.4

Pre-tax effect of derivative instruments designated as hedges

The pre-tax effect of derivative instruments in cash flow hedging relationships in the Company’s Condensed Consolidated Statements of Operations for the three months ended March 31, 2019 and 2018 is as follows:

	Amount of Loss (Gain) Recognized in Accumulated Other Comprehensive Loss						Location in Statement of Operations	Amount of Loss (Gain) Recognized in Statement of Operations
	Three Months Ended March 31,							Three Months Ended March 31,
In millions	2019			2018				2019			2018
Commodity Contracts	$	(0.9	)	$	(0.6	)	Cost of Sales	$	0.1		$	(0.2	)
Foreign Currency Contracts	(1.1		)	2.1			Other Expense, Net	(0.7		)	0.4
Interest Rate Swap Agreements	2.0			(0.7		)	Interest Expense, Net	—			(0.3		)
Total	$	—		$	0.8			$	(0.6	)	$	(0.1	)

Pre-tax effect of derivative instruments not designated as hedges

The effect of derivative instruments not designated as hedging instruments on the Company’s Condensed Consolidated Statements of Operations for the years ended March 31, 2019 and 2018 is as follows:

		Three Months Ended March 31,
In millions		2019			2018
Foreign Currency Contracts	Other Expense, Net	$	(0.1	)	$	(1.0	)

Rollforward of pre-tax derivative Accumulated Other Comprehensive Loss

The following is a rollforward of pre-tax Accumulated Derivative Instruments Income (Loss) which is included in the Company’s Condensed Consolidated Balance Sheet as of March 31, 2019:

In millions
Balance at December 31, 2018	$	(1.9	)
Reclassification to Earnings	(0.6		)
Current Period Change in Fair Value	—
Balance at March 31, 2019	$	(2.5	)