Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2016

Fair Value Disclosures [Abstract]

Financial assets and liabilities accounted for at fair value on a recurring basis by level within the fair value hierarchy

The following tables set forth the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2016 and December 31, 2015 by level within the fair value hierarchy.  Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

	Fair Value as of September 30, 2016
(in millions)	Level 1		Level 2		Level 3		Total
Current Assets:
Foreign currency exchange contracts	$	—	$	0.2	$	—	$	0.2
Total current assets at fair value	$	—	$	0.2	$	—	$	0.2
Current Liabilities:
Foreign currency exchange contracts	$	—	$	5.8	$	—	$	5.8
Commodity contracts	—		0.2		—		0.2
Total current liabilities at fair value	$	—	$	6.0	$	—	$	6.0

	Fair Value as of December 31, 2015
(in millions)	Level 1		Level 2		Level 3		Total
Current Assets:
Foreign currency exchange contracts	$	—	$	0.3	$	—	$	0.3
Total current assets at fair value	$	—	$	0.3	$	—	$	0.3
Current Liabilities:
Foreign currency exchange contracts	$	—	$	1.1	$	—	$	1.1
Commodity contracts	—		0.7		—		0.7
Interest rate swap contracts: Float-to-fixed	—		1.7		—		1.7
Total current liabilities at fair value	$	—	$	3.5	$	—	$	3.5
Non-current Liabilities:
Interest rate swap contracts: Float-to-fixed	$	—	$	0.6	$	—	$	0.6
Foreign currency exchange contracts	—		0.1		—		0.1
Total non-current liabilities at fair value	$	—	$	0.7	$	—	$	0.7

Fair value hierarchy inputs

ASC Topic 820-10, “Fair Value Measurement,” defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820-10 classifies the inputs used to measure fair value into the following hierarchy:

Level 1	Unadjusted quoted prices in active markets for identical assets or liabilities
Level 2	Unadjusted quoted prices in active markets for similar assets or liabilities, or
	Unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or
	Inputs other than quoted prices that are observable for the asset or liability
Level 3	Unobservable inputs for the asset or liability