Derivatives (Tables)

9 Months Ended

Sep. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Financial Instruments

The following table presents the fair value of derivative financial instruments as of the dates indicated (in millions):

	September 30, 2019				December 31, 2018
	Fair Value of Derivatives				Fair Value of Derivatives
	Asset (a)		Liability (a)		Asset (a)		Liability (a)
Derivatives designated as effective hedges:
Cash flow hedges:
Foreign currency contracts	$	6.2	$	1.2	$	13.3	$	0.7
Commodity contracts	—		0.1		—		—
Fair value hedges:
Interest rate swaps	3.2		1.3		—		11.5
Derivatives not designated as effective hedges:
Foreign currency contracts	11.9		14.0		12.9		4.2
Commodity contracts	—		—		—		0.9
Total	$	21.3	$	16.6	$	26.2	$	17.3
(a) Consolidated balance sheet location:
Asset: Prepaid expenses and other, and other noncurrent assets
Liability: Other accrued liabilities, and current and noncurrent liabilities

Schedule of Pretax Effects of Derivative Financial Instruments Designated or Previously Designated as Effective Hedges

The following tables present gain and loss activity (on a pretax basis) for the three and nine months ended September 30, 2019 and 2018 related to derivative financial instruments designated or previously designated, as effective hedges (in millions):

		Three Months Ended September 30, 2019					Three Months Ended September 30, 2018
		Gain/(Loss)					Gain/(Loss)
	Location of gain/(loss) recognized in income	Recognized in OCI (a) (effective portion)		Reclassified from AOCL to Income			Recognized in OCI (a) (effective portion)		Reclassified from AOCL to Income
Interest rate swaps	Interest expense, net	$	—	$	(3.4	)	$	—	$	(1.9	)
Foreign currency contracts	Net sales and cost of products sold	5.6		3.4			1.7		(3.0		)
Commodity contracts	Cost of products sold	—		—			—		—
Cross-currency swaps	Other expense (income), net	—		—			—		—
Total		$	5.6	$	—		$	1.7	$	(4.9	)

		Nine Months Ended September 30, 2019						Nine Months Ended September 30, 2018
		Gain/(Loss)						Gain/(Loss)
	Location of gain/(loss) recognized in income	Recognized in OCI (a) (effective portion)			Reclassified from AOCL to Income			Recognized in OCI (a) (effective portion)			Reclassified from AOCL to Income
Interest rate swaps	Interest expense, net	$	—		$	(6.5	)	$	—		$	(5.7	)
Foreign currency contracts	Net sales and cost of products sold	1.1			11.7			11.7			(15.5		)
Commodity contracts	Cost of products sold	(0.1		)	—			—			—
Cross-currency swaps	Other expense (income), net	—			—			(1.7		)	(3.0		)
Total		$	1.0		$	5.2		$	10.0		$	(24.2	)

(a) Represents effective portion recognized in Other Comprehensive Income (Loss) (“OCI”).