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Derivative Instruments and Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 2020
Derivative Instruments and Hedging Activities [Abstract]  
Schedule of Interest Rate Contracts
The following table summarizes the total interest rate swap contracts executed as of June 30, 2020:
Type of Interest Rate Swap ContractNotional AmountEffective DateTermination DateFixed Interest Rate or Rate Range
Floating to Fixed$450.0              December 2018 December 2022
2.60% - 2.79%
Floating to Fixed$1,300.0              December 2019December 2022
2.37% - 2.83%
Schedule of Other Comprehensive Income and Earnings from Foreign Exchange Contracts
The amount of gains and (losses) recognized in the condensed consolidated statements of operations for the three and six months ended June 30, 2020 and 2019 from foreign exchange and interest rate swap contracts that qualified as cash flow hedges were as follows:
Three months endedThree months ended
 June 30, 2020June 30, 2019
Financial Statement Line Item in which the Effects of Cash Flow Hedges are RecordedNet Product SalesInterest ExpenseNet Product SalesInterest Expense
Total amount presented in the Condensed Consolidated Statements of Operations$1,444.5  $(23.6) $1,202.5  $(18.3) 
Impact of cash flow hedging relationships:
Foreign exchange forward contracts$9.5  $—  $9.1  $—  
Interest rate swap contracts$—  $(10.0) $—  $4.5  
Six months endedSix months ended
 June 30, 2020June 30, 2019
Financial Statement Line Item in which the Effects of Cash Flow Hedges are RecordedNet Product SalesInterest ExpenseNet Product SalesInterest Expense
Total amount presented in the Condensed Consolidated Statements of Operations$2,889.1  $(49.4) $2,342.7  $(38.2) 
Impact of cash flow hedging relationships:
Foreign exchange forward contracts$20.9  $—  $16.1  $—  
Interest rate swap contracts$—  $(14.6) $—  $9.1  

The impact on accumulated other comprehensive income (AOCI) and earnings from foreign exchange and interest rate swap contracts that qualified as cash flow hedges, for the three and six months ended June 30, 2020 and 2019 were as follows:
Three months endedSix months ended
 June 30,June 30,
 2020201920202019
Foreign Exchange Forward Contracts:
(Loss) gain recognized in AOCI, net of tax$(6.1) $(3.9) $19.9  $10.3  
Gain reclassified from AOCI to net product sales, net of tax$7.4  $7.0  $16.2  $12.4  
Interest Rate Swap Contracts:
Loss recognized in AOCI, net of tax$(5.4) $(24.6) $(52.7) $(38.8) 
(Loss) gain reclassified from AOCI to interest expense, net of tax$(7.7) $3.4  $(11.3) $7.0  
Schedule of Fair Value of Outstanding Derivatives
The following tables summarize the fair value of outstanding derivatives as of June 30, 2020 and December 31, 2019: 
June 30, 2020
 Derivative AssetsDerivative Liabilities
Balance Sheet
Location		Fair
Value		Balance Sheet
Location		Fair
Value
Derivatives designated as hedging instruments:
Foreign exchange forward contractsPrepaid expenses and other current assets$14.6  Other current liabilities$3.6  
Foreign exchange forward contractsOther assets—  Other liabilities0.4  
Interest rate swap contractsPrepaid expenses and other current assets—  Other current liabilities45.5  
Interest rate swap contractsOther assets—  Other liabilities69.6  
Derivatives not designated as hedging instruments:
Foreign exchange forward contractsPrepaid expenses and other current assets28.9  Other current liabilities20.6  
Total fair value of derivative instruments$43.5  $139.7  
December 31, 2019
 Derivative AssetsDerivative Liabilities
Balance Sheet
Location		Fair
Value		Balance Sheet
Location		Fair
Value
Derivatives designated as hedging instruments:
Foreign exchange forward contractsPrepaid expenses and other current assets$12.7  Other current liabilities$6.2  
Foreign exchange forward contractsOther assets0.6  Other liabilities1.1  
Interest rate swap contractsPrepaid expenses and other current assets—  Other current liabilities19.5  
Interest rate swap contractsOther assets—  Other liabilities41.9  
Derivatives not designated as hedging instruments:
Foreign exchange forward contractsPrepaid expenses and other current assets17.2  Other current liabilities20.4  
Total fair value of derivative instruments$30.5  $89.1  
Offsetting Assets and Liabilities The following tables summarize the potential effect on our condensed consolidated balance sheets of offsetting our foreign exchange forward contracts and interest rate contracts subject to such provisions:
June 30, 2020
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet
DescriptionGross Amounts of Recognized Assets/LiabilitiesGross Amounts Offset in the Condensed Consolidated Balance SheetNet Amounts of Assets/Liabilities Presented in the Condensed Consolidated Balance SheetDerivative Financial InstrumentsCash Collateral Received (Pledged)Net Amount
Derivative assets$43.5  $—  $43.5  $(23.3) $—  $20.2  
Derivative liabilities$(139.7) $—  $(139.7) $23.3  $—  $(116.4) 
December 31, 2019
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet
DescriptionGross Amounts of Recognized Assets/LiabilitiesGross Amounts Offset in the Condensed Consolidated Balance SheetNet Amounts of Assets/Liabilities Presented in the Condensed Consolidated Balance SheetDerivative Financial InstrumentsCash Collateral Received (Pledged)Net Amount
Derivative assets$30.5  $—  $30.5  $(21.4) $—  $9.1  
Derivative liabilities$(89.1) $—  $(89.1) $21.4  $—  $(67.7)