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Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2018
Investments, All Other Investments [Abstract]  
Estimated Aggregate Fair Value of Debt Instruments
The estimated fair value, as well as the carrying value, of the Company's debt instruments are shown below (in millions):
December 31,
2018
 
2017
Estimated aggregate fair value (1)
$
1,921.6

 
$
2,033.5

Aggregate carrying value (1) (2)
1,967.2

 
1,973.4


(1) Term Loan Facility and Notes (excludes "other" debt)
(2) Excludes the impact of unamortized original issue discount and debt issuance costs
Cash and Cash Equivalents
A reconciliation of cash and cash equivalents reported on the accompanying consolidated balance sheets to cash, cash equivalents and restricted cash reported on the consolidated statements of cash flows is shown below (in millions):
December 31,
2018
 
2017
 
2016
Balance sheet - cash and cash equivalents
$
1,493.2

 
$
1,500.4

 
$
1,271.6

Restricted cash included in other current assets
8.7

 
—

 
—

Restricted cash included in other long-term assets
17.9

 
—

 
—

Statement of cash flows - cash, cash equivalents and restricted cash
$
1,519.8

 
$
1,500.4

 
$
1,271.6
Restricted Cash
A reconciliation of cash and cash equivalents reported on the accompanying consolidated balance sheets to cash, cash equivalents and restricted cash reported on the consolidated statements of cash flows is shown below (in millions):
December 31,
2018
 
2017
 
2016
Balance sheet - cash and cash equivalents
$
1,493.2

 
$
1,500.4

 
$
1,271.6

Restricted cash included in other current assets
8.7

 
—

 
—

Restricted cash included in other long-term assets
17.9

 
—

 
—

Statement of cash flows - cash, cash equivalents and restricted cash
$
1,519.8

 
$
1,500.4

 
$
1,271.6
Marketable Equity Securities
Marketable equity securities, which the Company accounts for under the fair value option, are included in the accompanying consolidated balance sheets as shown below (in millions):
December 31,
2018
 
2017
Other current assets
$
4.8

 
$
3.2

Other long-term assets
42.5

 
40.6

 
$
47.3

 
$
43.8
Notional Amount and Estimated Fair Value of Foreign Currency Contracts and Related Classification
The notional amount, estimated fair value and related classification in the accompanying consolidated balance sheets of the Company's foreign currency derivative contracts are shown below (in millions, except for maturities):
December 31,
2018
 
2017
Fair value of foreign currency contracts designated as cash flow hedges:
 
 
 
Other current assets
$
20.6

 
$
16.9

Other long-term assets
2.8

 
1.3

Other current liabilities
(8.4
)
 
(28.4
)
Other long-term liabilities
(2.0
)
 
(8.0
)
 
13.0

 
(18.2
)
Notional amount
$
1,499.0

 
$
1,538.5

Outstanding maturities in months, not to exceed
24

 
24

Fair value of foreign currency contracts not designated as hedging instruments:
 
 
 
Other current assets
6.1

 
1.8

Other current liabilities
(4.8
)
 
(6.4
)
 
1.3

 
(4.6
)
Notional amount
$
654

 
$
681.1

Outstanding maturities in months, not to exceed
12

 
12

Total fair value
$
14.3

 
$
(22.8
)
Total notional amount
$
2,153.0

 
$
2,219.6
Notional Amount and Estimated Fair Value of Derivative Contracts and Related Classification
The notional amount, estimated fair value and related classification in the accompanying consolidated balance sheet of the Company's interest rate swap contracts are shown below (in millions, except for maturities):
December 31,
2018
Fair value of interest rate swap contracts designated as cash flow hedges:
 
Other current liabilities
$
14.7

Notional amount
$
500.0

Outstanding maturities in months, not to exceed
3
Pretax Amounts Related to Derivative Contracts
Pretax amounts related to derivative contracts designated as cash flow hedges that were recognized in and reclassified from accumulated other comprehensive loss are shown below (in millions):
For the year ended December 31,
2018
 
2017
 
2016
Gains (losses) recognized in accumulated other comprehensive loss:
 
 
 
 
 
Foreign currency contracts
$
50.5

 
$
28.8

 
$
(96.8
)
Interest rate swap contracts
(14.7
)
 
—

 
—

 
35.8

 
28.8

 
(96.8
)
 
 
 
 
 
 
Foreign currency contract (gains) losses reclassified from accumulated other comprehensive loss to:
 
 
 
 
 
Net sales
2.3

 
2.1

 
4.8

Cost of sales
(21.6
)
 
7.4

 
81.9

 
(19.3
)
 
9.5

 
86.7

Comprehensive income (loss)
$
16.5

 
$
38.3

 
$
(10.1
)
Fair Value Measurements and Related Valuation Techniques and Fair Value Hierarchy Level
Fair value measurements and the related valuation techniques and fair value hierarchy level for the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 and 2017, are shown below (in millions):
 
December 31, 2018
 
Frequency
 
Asset
(Liability)
 
Valuation
Technique
 
Level 1
 
Level 2
 
Level 3
Foreign currency contracts, net
Recurring
 
$
14.3

 
Market / Income
 
$
—

 
$
14.3

 
$
—

Interest rate swap contracts
Recurring
 
(14.7
)
 
Market / Income
 
—

 
(14.7
)
 
—

Marketable equity securities
Recurring
 
47.3

 
Market
 
47.3

 
—

 
—

 
December 31, 2017
 
Frequency
 
Asset
(Liability)
 
Valuation
Technique
 
Level 1
 
Level 2
 
Level 3
Foreign currency contracts, net
Recurring
 
$
(22.8
)
 
Market / Income
 
$
—

 
$
(22.8
)
 
$
—

Marketable equity securities
Recurring
 
43.8

 
Market
 
43.8

 
—

 
—