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Derivative financial instruments (Tables)
 6 Months Ended
Jun. 29, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of derivative effect on OCI
The following table sets out the fair value (loss) gain before tax recognized in OCI in relation to the instruments designated as net investment hedging instruments:
 
Three months ended
 
Six months ended
(dollars in millions)
June 29, 2019
 
June 30, 2018
 
June 29, 2019
 
June 30, 2018
Net fair value (loss) gain recognized in OCI in relation to:
 
 
 
 
 
 
 
—Euro-denominated debt
$
(1.4
)
 
$
3.4

 
$
(0.7
)
 
$
(11.8
)
—Designated cross currency swaps
(3.4
)
 
18.4

 
1.5

 
12.7

Total net fair value (loss) gain
$
(4.8
)
 
$
21.8

 
$
0.8

 
$
0.9

The following table sets out the movement before tax recognized in OCI in relation to the interest rate derivatives:
 
Three months ended
 
Six months ended
(dollars in millions)
June 29, 2019
 
June 30, 2018
 
June 29, 2019
 
June 30, 2018
Movement recognized in OCI in relation to:
 
 
 
 
 
 
 
—Fair value (loss) gain on interest rate derivatives
$
(14.6
)
 
$
—

 
$
(27.9
)
 
$
9.7

—Deferred premium reclassified from OCI to net income
0.2

 
1.1

 
0.3

 
3.5

Total movement
$
(14.4
)
 
$
1.1

 
$
(27.6
)
 
$
13.2
Schedule of fair values of derivative financial instruments
The fair values of derivative financial instruments were as follows:
 
As of June 29, 2019
 
As of December 29, 2018
(dollars in millions)
Prepaid expenses and other assets
 
Other non-
current
assets
 
Accrued expenses and other
current
liabilities
 
Other
non-
current
liabilities
 
Net
 
Prepaid expenses and other assets
 
Other non-
current
assets
 
Accrued expenses and other
current
liabilities
 
Other 
non-
current
liabilities
 
Net
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
—Currency swaps
$
—

 
$
—

 
$
(20.0
)
 
$
—

 
$
(20.0
)
 
$
5.4

 
$
—

 
$
—

 
$
(27.5
)
 
$
(22.1
)
—Interest rate caps
—

 
—

 
(3.8
)
 
(5.0
)
 
(8.8
)
 
3.5

 
1.6

 
—

 
(10.9
)
 
(5.8
)
—Interest rate swaps
—

 
—

 
—

 
(30.9
)
 
(30.9
)
 
—

 
—

 
(0.3
)
 
(2.6
)
 
(2.9
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
—Currency forward contracts
1.0

 
—

 
(0.3
)
 
—

 
0.7

 
1.3

 
—

 
(0.4
)
 
—

 
0.9

 
$
1.0


$
—


$
(24.1
)

$
(35.9
)

$
(59.0
)

$
10.2


$
1.6


$
(0.7
)

$
(41.0
)

$
(29.9
)
Schedule of interest rate caps
The periods covered by our interest rate caps and their notional values are as follows:
(in millions)
Notional value
September 30, 2014 to June 30, 2019
$
500.0

September 30, 2016 to June 30, 2019
$
500.0

June 30, 2017 to June 30, 2020
$
200.0

June 28, 2019 to June 30, 2020
$
1,000.0

July 1, 2019 to June 30, 2023
€
425.0