Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities

Schedule of notional amounts, fair values and classification of outstanding derivatives

			Fair Value		Fair Value
			Accrued		Other
	Notional		Liabilities		Non-current
	Amount		and Other		Liabilities
Derivatives Designated as Hedging Instruments	(in millions)
Interest rate swap contracts as of September 30, 2020	$	1,327.0	$	15.0	$	—
Interest rate swap contracts as of December 31, 2019	$	1,337.2	$	14.7	$	6.1

Schedule of gains and losses on derivatives

	Three months ended				Nine months ended
	September 30,				September 30,
	2020		2019		2020		2019
Interest rate swap contracts(1)	(in millions)
Gain (loss) recorded in AOCL on derivatives, before tax	$	5.7	$	(0.3)	$	6.1	$	(16.7)
Tax impact		(1.2)		(0.4)		(1.3)		4.4
Gain (loss) recorded in AOCL on derivatives, net		4.5		(0.7)		4.8		(12.3)

(1) Gains (losses) on derivatives reclassified from AOCL into income are included in “Interest expense” in the unaudited condensed consolidated statements of operations, the same line item as the earnings effect of the hedged item. Losses recognized for the three and nine months ended September 30, 2020 total $5.8 million and $15.4 million, respectively.