Derivatives (Tables)

6 Months Ended

Jun. 30, 2017

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 June 30, 2017 and December 31, 2016 (in millions):

	June 30, 2017				December 31, 2016
	Fair Value of Derivatives				Fair Value of Derivatives
	Asset (a)		Liability (a)		Asset (a)		Liability (a)
Derivatives designated as effective hedges:
Cash flow hedges:
Cross-currency swaps	$	—	$	16.8	$	0.7	$	16.3
Foreign currency contracts		3.0		13.7		14.2		3.4
Fair value hedges:
Interest rate swaps		1.2		4.5		—		5.9
Derivatives not designated as effective hedges:
Foreign currency contracts		22.1		38.8		18.2		10.9
Commodity contracts		0.1		—		0.2		0.3
Total	$	26.4	$	73.8	$	33.3	$	36.8
(a) Consolidated balance sheet location:
Asset: Prepaid expenses and other, and other non-current assets
Liability:Other accrued liabilities, and current and non-current liabilities

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

The following tables presents gain and loss activity (on a pretax basis) for the three and six months ended June 30, 2017 and 2016 related to derivative financial instruments designated or previously designated, as effective hedges (in millions):

		Three Months Ended June 30, 2017						Three Months Ended June 30, 2016
		Gain/(Loss)						Gain/(Loss)
	Location of gain/(loss) recognized in income	Recognized in OCI (a) (effective portion)			Reclassified from AOCI to Income			Recognized in OCI (a) (effective portion)			Reclassified from AOCI to Income
Interest rate swaps	Interest expense, net	$	—		$	(2.1	)	$	—		$	(2.4	)
Foreign currency contracts	Sales and cost of sales		(11.2	)		4.2			13.0			(1.2	)
Cross-currency swaps	Other income (expense), net		2.4			1.3			(15.5	)		(12.7	)
Total		$	(8.8	)	$	3.4		$	(2.5	)	$	(16.3	)
		Six Months Ended June 30, 2017						Six Months Ended June 30, 2016
		Gain/(Loss)						Gain/(Loss)
	Location of gain/(loss) recognized in income	Recognized in OCI (a) (effective portion)			Reclassified from AOCI to Income			Recognized in OCI (a) (effective portion)			Reclassified from AOCI to Income
Interest rate swaps	Interest expense, net	$	—		$	(4.1	)	$	(88.1	)	$	(2.6	)
Foreign currency contracts	Sales and cost of sales		(23.0	)		12.8			8.0			0.5
Cross-currency swaps	Other income (expense), net		(1.2	)		(5.6	)		(25.6	)		(24.5	)
Total		$	(24.2	)	$	3.1		$	(105.7	)	$	(26.6	)

(a) Represents effective portion recognized in OCI.