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Derivative Instruments and Risk Management (Tables)
3 Months Ended
Mar. 31, 2015
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Fair Value of Derivative Instruments and Effect of Such Derivative Instruments on Consolidated Statements of Income and on Other Comprehensive Income

The following tables summarize the fair value of the Company’s derivative instruments and the effect of such derivative instruments on the Company’s Consolidated Statements of Income and on Other Comprehensive Income (“OCI”):

 

 

 

 

 

Notional

 

 

Fair Value at

 

 

 

 

 

Amount

 

 

March 31,

 

 

December 31,

 

 

 

Balance Sheet Location

 

March 31, 2015

 

 

2015

 

 

2014

 

Derivatives designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Asset Derivatives

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange contracts

 

Other current assets

 

$

131.5

 

 

$

5.6

 

 

$

2.8

 

Interest rate swap

 

Other assets

 

$

300.0

 

 

 

3.9

 

 

 

0.0

 

Total assets

 

 

 

 

 

 

 

$

9.5

 

 

$

2.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liability Derivatives

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diesel fuel contracts

 

Accounts payable and accrued expenses

 

4.4 gallons

 

 

$

3.9

 

 

$

4.4

 

Interest rate swap

 

Deferred and other long-term liabilities

 

$

300.0

 

 

 

0.0

 

 

 

0.9

 

Total liabilities

 

 

 

 

 

 

 

$

3.9

 

 

$

5.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives not designated as hedging

     instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Asset Derivatives

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity derivatives

 

Other current assets

 

$

31.7

 

 

$

0.1

 

 

$

2.8

 

Foreign exchange contracts

 

Other current assets

 

$

35.8

 

 

 

0.9

 

 

 

0.0

 

Total assets

 

 

 

 

 

 

 

$

1.0

 

 

$

2.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount of Gain (Loss)

 

 

 

 

 

 

 

 

Recognized in OCI

 

 

 

 

 

 

 

 

 

from Derivatives

 

 

 

 

 

 

 

 

 

for the Three Months Ended

 

 

 

Other Comprehensive Income (Loss)

 

 

 

 

 

March 31,

 

 

March 31,

 

 

 

Location

 

 

 

 

 

2015

 

 

2014

 

Derivatives designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diesel fuel contracts (net of taxes)

 

Other comprehensive income (loss)

 

 

 

 

 

$

0.4

 

 

$

(0.2

)

Foreign exchange contracts (net of taxes)

 

Other comprehensive income (loss)

 

 

 

 

 

 

2.5

 

 

 

0.2

 

Total gain (loss) recognized in OCI

 

 

 

 

 

 

 

$

2.9

 

 

$

0.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount of Gain (Loss)

 

 

 

 

 

 

 

 

Recognized in Income

 

 

 

 

 

 

 

 

 

for the Three Months Ended

 

 

 

 

 

 

 

 

 

March 31,

 

 

March 31,

 

 

 

Income Statement Location

 

 

 

 

 

2015

 

 

2014

 

Derivatives not designated as hedging

    instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity derivatives

 

Selling, general and administrative expenses

 

 

 

 

 

$

2.4

 

 

$

1.0

 

Foreign exchange contracts

 

Other income (expense), net

 

 

 

 

 

 

0.9

 

 

 

0.0

 

Total gain (loss) recognized in income

 

 

 

 

 

 

 

$

3.3

 

 

$

1.0