Derivatives (Tables)

6 Months Ended

Jun. 30, 2018

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, 2018 and December 31, 2017 (in millions):

	June 30, 2018				December 31, 2017
	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	$	—	$	—	$	—	$	21.5
Foreign currency contracts		7.2		0.7		2.0		6.6
Fair value hedges:
Interest rate swaps		—		18.6		—		7.8
Derivatives not designated as effective hedges:
Foreign currency contracts		10.5		10.6		12.7		20.8
Commodity contracts		0.2		—		0.2		—
Total	$	17.9	$	29.9	$	14.9	$	56.7
(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, 2018 and 2017 related to derivative financial instruments designated or previously designated, as effective hedges (in millions):

		Three Months Ended June 30, 2018						Three Months Ended June 30, 2017
		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	$	—		$	(1.9	)	$	—		$	(2.1	)
Foreign currency contracts	Sales and cost of sales		15.3			(6.1	)		(11.2	)		4.2
Cross-currency swaps	Other income (expense), net		1.7			1.8			2.4			1.3
Total		$	17.0		$	(6.2	)	$	(8.8	)	$	3.4
		Six Months Ended June 30, 2018						Six Months Ended June 30, 2017
		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	$	—		$	(3.8	)	$	—		$	(4.1	)
Foreign currency contracts	Sales and cost of sales		10.0			(12.5	)		(23.0	)		12.8
Cross-currency swaps	Other income (expense), net		(1.7	)		(3.0	)		(1.2	)		(5.6	)
Total		$	8.3		$	(19.3	)	$	(24.2	)	$	3.1

(a) Represents effective portion recognized in OCI.