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Derivative Instruments and Hedging Activities (Tables)
 9 Months Ended
Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of derivative instruments in statement of financial position, fair value
The balance sheet location and gross fair value of our outstanding derivative instruments were as follows:
 
Asset Derivatives
 
Balance Sheet Location
 
Fair Value
 
 
 
September 30,
2017
 
December 31,
2016
Designated derivatives:
 
 
 
 
 
Foreign currency forward contracts
Other current assets
 
$
4.6

 
$
3.1

Non-designated derivatives:
 
 
 
 
 
Foreign currency forward contracts
Other current assets
 
$
8.5

 
$
0.7

 
Liability Derivatives
 
Balance Sheet Location
 
Fair Value
 
 
 
September 30,
2017
 
December 31,
2016
Designated derivatives:
 
 
 
 
 
Foreign currency forward contracts
Accrued liabilities
 
$
2.6

 
$
3.0

Non-designated derivatives:
 
 
 
 
 
Foreign currency forward contracts
Accrued liabilities
 
$
0.7

 
$
2.0
Amount of Gain/(Loss) Recorded in OCI (Effective Portion)
The gains (losses) recorded in OCI for the effective portion of our designated cash flow hedges were as follows:
 
 
Amount of Gain/(Loss) Recorded in OCI
(Effective Portion)
 
 
Three Months Ended
 
Nine Months Ended
Designated Cash Flow Hedges
 
September 30,
2017
 
October 1,
2016
 
September 30,
2017
 
October 1,
2016
Interest rate swap agreements
 
$
—

 
$
—

 
$
—

 
$
(9.0
)
Foreign currency forward contracts
 
1.1

 
3.4

 
6.3

 
4.7

Total
 
$
1.1

 
$
3.4

 
$
6.3

 
$
(4.3
)
Amount of Gain/(Loss) Reclassified from AOCI into Earnings (Effective Portion)
The gains (losses) reclassified from AOCI into earnings for the effective portion of our designated cash flow hedges were as follows:
 
 
 
 
Amount of Gain/(Loss) Reclassified from AOCI into Earnings
(Effective Portion)
 
 
 
 
Three Months Ended
 
Nine Months Ended
Designated Cash Flow Hedges
 
Income Statement Location
 
September 30,
2017
 
October 1,
2016
 
September 30,
2017
 
October 1,
2016
Treasury locks
 
Interest expense, net
 
$
—

 
$
—

 
$
—

 
$
(0.1
)
Interest rate swap agreements
 
Interest expense, net
 
(0.4
)
 
(0.6
)
 
(1.7
)
 
(1.7
)
 
 
Other (income) expense, net
 
—

 
—

 
(5.9
)
 
—

Foreign currency forward contracts
 
Net sales
 
—

 
(0.1
)
 
0.9

 
0.3

 
 
Cost of sales
 
1.8

 
0.9

 
3.5

 
1.8

 
 
Interest expense, net
 
(0.7
)
 
(0.4
)
 
(1.8
)
 
(1.3
)
 
 
Other (income) expense, net
 
(1.2
)
 
(1.2
)
 
(1.7
)
 
0.7

Total
 
 
 
$
(0.5
)
 
$
(1.4
)
 
$
(6.7
)
 
$
(0.3
)
Amount of Gain/(Loss) Recognized against Earnings (Ineffective Portion)
The gains (losses) recognized against earnings for the ineffective portion of our designated cash flow hedges were as follows:
 
 
 
 
Amount of Gain/(Loss) Recognized against Earnings
(Ineffective Portion)
 
 
 
 
Three Months Ended
 
Nine Months Ended
Designated Cash Flow Hedges
 
Income Statement
Location
 
September 30,
2017
 
October 1,
2016
 
September 30,
2017
 
October 1,
2016
Interest rate swap agreements
 
Other (income) expense, net
 
$
—

 
$
—

 
$
—

 
$
(0.1
)
Foreign currency forward contracts
 
Net sales
 
0.2

 
—

 
0.1

 
0.1

 
 
Cost of sales
 
0.1

 
—

 
0.1

 
—

 
 
Other (income) expense, net
 
—

 
—

 
1.0

 
0.6

Total
 
 
 
$
0.3

 
$
—

 
$
1.2

 
$
0.6
Amount of Gain/(Loss) Recognized against Earnings
The effects of our non-designated derivatives on the Condensed Consolidated Statements of Operations were as follows:
 
 
 
 
Amount of Gain/(Loss) Recognized against Earnings
 
 
 
 
Three Months Ended
 
Nine Months Ended
Non-Designated Derivatives
 
Income Statement Location
 
September 30,
2017
 
October 1,
2016
 
September 30,
2017
 
October 1,
2016
Foreign currency forward contracts
 
Other (income) expense, net
 
$
10.1

 
$
(0.2
)
 
$
(3.8
)
 
$
(8.7
)
 
 
Interest expense, net
 
(1.8
)
 
(1.0
)
 
(2.9
)
 
(1.5
)
Total
 
 
 
$
8.3

 
$
(1.2
)
 
$
(6.7
)
 
$
(10.2
)