Financial Instruments (Tables)

9 Months Ended

Aug. 31, 2018

Fair values of derivative instruments on balance sheet

The following table discloses the fair values of derivative instruments on our balance sheet (in millions):

As of August 31, 2018	Asset Derivatives					Liability Derivatives
	Balance sheet location	Notional amount		Fair value		Balance sheet location	Notional amount		Fair value
Interest rate contracts	Other current assets	$	—	$	—	Other accrued liabilities	$	100.0	$	6.0
Foreign exchange contracts	Other current assets	175.8		2.1		Other accrued liabilities	254.6		5.7
Total				$	2.1				$	11.7
As of August 31, 2017	Asset Derivatives					Liability Derivatives
	Balance sheet location	Notional amount		Fair value		Balance sheet location	Notional amount		Fair value
Interest rate contracts	Other current assets	$	100.0	$	0.3	Other accrued liabilities	$	—	$	—
Foreign exchange contracts	Other current assets	116.1		5.5		Other accrued liabilities	358.9		9.1
Total				$	5.8				$	9.1
As of November 30, 2017	Asset Derivatives					Liability Derivatives
	Balance sheet location	Notional amount		Fair value		Balance sheet location	Notional amount		Fair value
Interest rate contracts	Other current assets	$	—	$	—	Other accrued liabilities	$	100.0	$	2.5
Foreign exchange contracts	Other current assets	326.3		12.7		Other accrued liabilities	79.6		4.7
Total				$	12.7				$	7.2

Fair Value Hedging

Impact of fair value and cash flow hedges on other comprehensive income, accumulated other comprehensive income and income statement

The following tables disclose the impact of derivative instruments on our other comprehensive income (OCI), accumulated other comprehensive income (AOCI) and our income statement for the three and nine-month periods ended August 31, 2018 and 2017 (in millions):

Fair Value Hedges
Derivative	Income statement location	Income (expense)
		Three months ended August 31, 2018			Three months ended August 31, 2017		Nine months ended August 31, 2018		Nine months ended August 31, 2017
Interest rate contracts	Interest expense	$	(0.1	)	$	0.2	$	0.1	$	0.7

Three months ended August 31,	Income statement location	Gain (loss) recognized in income					Income statement location	Gain (loss) recognized in income
Derivative		2018		2017		Hedged item		2018			2017
Foreign exchange contracts	Other income, net	$	0.5	$	2.9	Intercompany loans	Other income, net	$	(1.1	)	$	(3.1	)

Nine months ended August 31,	Income statement location	Gain (loss) recognized in income						Income statement location	Gain (loss) recognized in income
Derivative		2018			2017		Hedged item		2018		2017
Foreign exchange contracts	Other income, net	$	(2.1	)	$	5.2	Intercompany loans	Other income, net	$	1.1	$	(6.0	)

Cash Flow Hedging

Impact of fair value and cash flow hedges on other comprehensive income, accumulated other comprehensive income and income statement

Cash Flow Hedges
Three months ended August 31,
Derivative	Gain or (loss) recognized in OCI					Income statement location	Gain or (loss) reclassified from AOCI
	2018		2017				2018			2017
Interest rate contracts	$	—	$	0.3		Interest expense	$	0.2		$	(0.1	)
Foreign exchange contracts	0.1		(4.7		)	Cost of goods sold	(0.8		)	0.3
Total	$	0.1	$	(4.4	)		$	(0.6	)	$	0.2
Nine months ended August 31,
Derivative	Gain or (Loss) recognized in OCI					Income statement location	Gain or (Loss) reclassified from AOCI
	2018		2017				2018			2017
Interest rate contracts	$	—	$	(2.9	)	Interest expense	$	0.4		$	(0.2	)
Foreign exchange contracts	0.9		(6.5		)	Cost of goods sold	(3.5		)	2.1
Total	$	0.9	$	(9.4	)		$	(3.1	)	$	1.9