Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Summary of financial assets and liability by fair value hierarchy level

The following table shows, by level within the fair value hierarchy, our financial assets and liabilities that are accounted for at fair value on a recurring basis at June 30, 2020 and December 31, 2019 (in millions):

Asset (Liability)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Quoted Prices in Active Markets for Similar Assets (Level 2)		Unobservable inputs for which little or no market data exists (Level 3)		Total
June 30, 2020
Money market funds(a)	$	310.9	$	—	$	—	$	310.9
Available for sale investments	—		44.4		—		44.4
Trading securities	19.9		—		—		19.9
Deferred compensation plan liabilities	(19.9)		—		—		(19.9)
Derivatives:
Forward exchange contracts-Assets(b)	—		0.8		—		0.8
TOTAL	$	310.9	$	45.2	$	—	$	356.1
Asset (Liability)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Quoted Prices in Active Markets for Similar Assets (Level 2)		Unobservable inputs for which little or no market data exists (Level 3)		Total
December 31, 2019
Money market funds(a)	$	27.5	$	—	$	—	$	27.5
Available for sale investments	—		50.7		—		50.7
Trading securities	19.2		—		—		19.2
Deferred compensation plan liabilities	(19.2)		—		—		(19.2)
Derivatives:
Forward exchange contracts-(Liabilities)(c)	—		(0.3)		—		(0.3)
TOTAL	$	27.5	$	50.4	$	—	$	77.9

^(a) Money market funds are reflected in Cash and cash equivalents in the Condensed Consolidated Balance Sheets.

^(b) Forward exchange contracts-Assets are reflected in Other current assets in the Condensed Consolidated Balance Sheets.

^(c) Forward exchange contracts-(Liabilities) are reflected in Other accrued liabilities in the Condensed Consolidated Balance Sheets.

Summary of the results of cash flow hedging relationships

The following table summarizes the results of cash flow hedging relationships for the three months ended June 30, 2020 and 2019 (in millions):

	Derivative Gain/(Loss) Recognized in Accumulated Other Comprehensive Income (net of tax)				Location of Gain/(Loss) Reclassified into Income	Gain/(Loss) Reclassified into Earnings Effective Portion (net of tax)
Derivative Instrument	2020		2019		(Effective Portion)	2020		2019
Forward exchange contract	$	(0.3)	$	(0.4)	Net sales	$	0.1	$	0.1
					Cost of goods sold	$	0.3	$	0.2

The following table summarizes the results of cash flow hedging relationships for the six months ended June 30, 2020 and 2019 (in millions):

	Derivative Gain/(Loss) Recognized in Accumulated Other Comprehensive Income (net of tax)				Location of Gain/(Loss) Reclassified into Income	Gain/(Loss) Reclassified into Earnings Effective Portion (net of tax)
Derivative Instrument	2020		2019		(Effective Portion)	2020		2019
Forward exchange contract	$	1.5	$	(0.7)	Net sales	$	0.2	$	0.2
					Cost of goods sold	$	0.4	$	0.4