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Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2017
Derivative Instruments and Hedges, Assets [Abstract]  
Schedule of notional amounts of outstanding derivative positions
Foreign exchange rate instruments embedded in purchase and sale contracts – The purpose of these instruments is to match offsetting currency payments and receipts for particular projects or conduct business in internationally recognized and traded currencies. At December 31, 2017, our portfolio of these instruments included the following material net positions: 
 
Net Notional Amount
Bought (Sold)
(In millions)
 
 
USD Equivalent
Norwegian krone
(290.1
)
 
(35.3
)
U.S. dollar
32.8

 
32.8

We hold the following types of derivative instruments:
Foreign exchange rate forward contracts – The purpose of these instruments is to hedge the risk of changes in future cash flows of anticipated purchase or sale commitments denominated in foreign currencies and recorded assets and liabilities in our consolidated balance sheets. At December 31, 2017, we held the following material net positions: 
 
Net Notional Amount
Bought (Sold)
(In millions)
 
 
USD Equivalent
Australian dollar
156.5

 
122.3

Brazilian real
783.1

 
236.7

British pound
142.0

 
191.9

Canadian dollar
(181.9
)
 
(144.9
)
Euro
354.9

 
425.6

Norwegian krone
(1,857.5
)
 
226.3

Singapore dollar
116.2

 
87.0

U.S. dollar
(647.6
)
 
(647.6
)
Schedule of fair value of derivative instruments
The following table presents the location and fair value amounts of derivative instruments reported in the consolidated balance sheets. 
 
December 31, 2017
 
December 31, 2016
(In millions)
Assets
 
Liabilities
 
Assets
 
Liabilities
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
Foreign exchange contracts:
 
 
 
 
 
 
 
Current – Derivative financial instruments
$
65.6

 
$
51.0

 
$
47.2

 
$
183.0

Long-term – Derivative financial instruments
28.0

 
1.7

 
10.7

 
47.6

Total derivatives designated as hedging instruments
93.6

 
52.7

 
57.9

 
230.6

Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
Foreign exchange contracts:
 
 
 
 
 
 
 
Current – Derivative financial instruments
12.7

 
18.0

 
—

 
—

Long-term – Derivative financial instruments
4.7

 
4.2

 
—

 
—

Total derivatives not designated as hedging instruments
17.4

 
22.2

 
—

 
—

Long-term – Derivative financial instruments – Synthetic Bonds – Call Option Premium
62.2

 
—

 
180.1

 
—

Long-term – Derivative financial instruments – Synthetic Bonds – Embedded Derivatives
—

 
62.2

 
—

 
180.1

Total derivatives
$
173.2

 
$
137.1

 
$
238.0

 
$
410.7
Schedule of location of fair value hedge gain (loss) recognized in income
The following table presents the location of gains (losses) on the consolidated statements of income related to derivative instruments designated as fair value hedges.
Location of Fair Value Hedge Gain (Loss) Recognized in Income
Gain (Loss) Recognized in Income
 
Year Ended December 31,
(In millions)
2017
 
2016
 
2015
Other income (expense), net
$
44.9

 
$
32.8

 
$
(10.2
)
Schedule of location of gains (losses) related to derivative instruments designated as cash flow hedges
The following tables present the location of gains (losses) on the consolidated statements of income related to derivative instruments designated as cash flow hedges. 
 
Gain (Loss) Recognized in OCI (Effective Portion)
 
Year Ended December 31,
(In millions)
2017
 
2016
 
2015
Foreign exchange contracts
$
72.1

 
$
(86.1
)
 
$
(91.6
)
Schedule of cash flow hedge
Location of Cash Flow Hedge Gain (Loss) Reclassified from Accumulated OCI into Income
Gain (Loss) Reclassified From Accumulated
OCI into Income (Effective Portion)
 
Year Ended December 31,
(In millions)
2017
 
2016
 
2015
Foreign exchange contracts:
 
 
 
 
 
Revenue
$
(39.3
)
 
$
—

 
$
—

Cost of sales
5.3

 
—

 
—

Selling, general and administrative expense
0.8

 
—

 
—

Research and development expense
—

 
—

 
—

Other (expense), net
(102.2
)
 
(165.7
)
 
(93.6
)
Total
$
(135.4
)
 
$
(165.7
)
 
$
(93.6
)
Location of Cash Flow Hedge Gain (Loss) Recognized in Income
Gain (Loss) Recognized in Income (Ineffective Portion
and Amount Excluded from Effectiveness Testing)
 
Year Ended December 31,
(In millions)
2017
 
2016
 
2015
Foreign exchange contracts:
 
 
 
 
 
Revenue
$
9.5

 
$
—

 
$
—

Cost of sales
(9.0
)
 
—

 
—

Selling, general and administrative expense
0.1

 
—

 
—

Other income (expense), net
23.0

 
(13.2
)
 
(16.9
)
Total
$
23.6

 
$
(13.2
)
 
$
(16.9
)
Schedule of location of gain (loss) recognized in income
The following table presents the location of gains (losses) on the consolidated statements of income related to derivative instruments not designated as hedging instruments.
Location of Gain (Loss) Recognized in Income
Gain (Loss) Recognized in Income on
Derivatives (Instruments Not Designated
as Hedging Instruments)
 
Year Ended December 31,
(In millions)
2017
 
2016
 
2015
Foreign exchange contracts:
 
 
 
 
 
Revenue
$
0.9

 
$
—

 
$
—

Cost of sales
(0.3
)
 
—

 
—

Other income, net
43.0

 
0.1

 
1.6

Total
$
43.6

 
$
0.1

 
$
1.6
Schedule of derivative assets, gross and net
The following tables present both gross information and net information of recognized derivative instruments:
 
December 31, 2017
 
December 31, 2016
(In millions)
Gross Amount Recognized
 
Gross Amounts Not Offset Permitted Under Master Netting Agreements
 
Net Amount
 
Gross Amount Recognized
 
Gross Amounts Not Offset Permitted Under Master Netting Agreements
 
Net Amount
Derivative assets
$
173.2

 
$
(114.4
)
 
$
58.8

 
$
238.0

 
$
(236.6
)
 
$
1.4
Schedule of derivative liabilities, gross and net
 
December 31, 2017
 
December 31, 2016
(In millions)
Gross Amount Recognized
 
Gross Amounts Not Offset Permitted Under Master Netting Agreements
 
Net Amount
 
Gross Amount Recognized
 
Gross Amounts Not Offset Permitted Under Master Netting Agreements
 
Net Amount
Derivative liabilities
$
137.1

 
$
(114.4
)
 
$
22.7

 
$
410.7

 
$
(236.6
)
 
$
174.1