XML 51 R41.htm IDEA: XBRL DOCUMENT v3.10.0.1
Derivative Instruments and Hedging Activities (Tables)
6 Months Ended
Sep. 30, 2018
Derivative [Line Items]  
Schedule of Derivative Instruments, Statements of Financial Performance And Comprehensive Income, Location And Effect
The following table presents the effect of the Company's derivatives on the accompanying consolidated statements of operations and comprehensive income (loss) for the three and six months ended September 30, 2018 and 2017:
 
Three Months Ended
 
Six Months Ended
 
September 30,
 
September 30,
 
2018
 
2017
 
2018
 
2017
 
(Amounts in millions)
Derivatives designated as cash flow hedges:
 
 
 
 
 
 
 
Forward exchange contracts
 
 
 
 
 
 
 
Gain (loss) recognized in accumulated other comprehensive income (loss)
$
0.4

 
$
(0.8
)
 
$
0.4

 
$
(0.1
)
Gain reclassified from accumulated other comprehensive income (loss) into direct operating expense
$
0.1

 
$

 
$
0.2

 
$

 
 
 
 
 
 
 
 
Interest rate swap agreements
 
 
 
 
 
 
 
Gain recognized in accumulated other comprehensive income (loss)
$
12.2

 
$

 
$
5.4

 
$

Loss reclassified from accumulated other comprehensive income (loss) into interest expense
(2.9
)
 

 
(3.9
)
 

 
 
 
 
 
 
 
 
Derivatives not designated as cash flow hedges:
 
 
 
 
 
 
 
Forward exchange contracts
 
 
 
 
 
 
 
Gain (loss) recognized in direct operating expense
$

 
$
0.2

 
$
(0.7
)
 
$
0.2

 
 
 
 
 
 
 
 
Total direct operating expense on consolidated statements of operations
$
463.2

 
$
521.6

 
$
993.2

 
$
1,076.4

Total interest expense on consolidated statements of operations(1)
$
38.8

 
$
34.8

 
$
74.2

 
$
73.8

________________
(1)Represents interest expense before interest on dissenting shareholders' liability.
Forward Foreign Exchange Contracts  
Derivative [Line Items]  
Schedule of Derivative Instruments Outstanding
As of September 30, 2018, the Company had the following outstanding forward foreign exchange contracts (all outstanding contracts have maturities of less than 17 months from September 30, 2018):

September 30, 2018
Foreign Currency
 
Foreign Currency Amount
 
US Dollar Amount
 
Weighted Average Exchange Rate Per $1 USD
 
 
(Amounts in millions)
 
(Amounts in millions)
 
 
British Pound Sterling
 

£5.1

in exchange for

$7.1

 
£0.72
Canadian Dollar
 

C$25.8

in exchange for

$20.4

 
C$1.27
Australian Dollar
 

A$5.1

in exchange for

$3.9

 
A$1.29
Derivative Instruments by Balance Sheet Location
As of September 30, 2018 and March 31, 2018, the Company had the following amounts recorded in the accompanying consolidated balance sheets related to the Company's use of derivatives:
 
 
September 30, 2018
 
 
Other Current Assets
 
Other Non-Current Assets
 
Accounts Payable and Accrued Liabilities
 
Other Non-Current Liabilities
 
 
(Amounts in millions)
Derivatives designated as cash flow hedges:
 
 
 
 
 
 
 
 
Forward exchange contracts
 
$
0.8

 
$

 
$
0.5

 
$

Interest rate swap agreements
 

 
5.4

 

 

Fair value of derivatives
 
$
0.8

 
$
5.4

 
$
0.5

 
$


 
 
March 31, 2018
 
 
Other Current Assets
 
Accounts Payable and Accrued Liabilities
 
 
 
(Amounts in millions)
Derivatives designated as cash flow hedges:
 
 
 
 
 
Forward exchange contracts
 
$
0.3

 
$
0.6

 
Fair value of derivatives
 
$
0.3

(1) 
$
0.6

(1) 
_____________
(1)
Includes an immaterial amount of forward foreign exchange contracts not designated as hedging instruments as of March 31, 2018.
Interest rate swap agreements  
Derivative [Line Items]  
Schedule of Derivative Instruments Outstanding
The major terms of the Company's interest rate swap agreements as of September 30, 2018 are as follows (all related to the Company's LIBOR-based debt, see Note 6):

Effective Date
 
Notional Amount (in millions)
 
Fixed Rate Paid
 
Maturity Date
May 23, 2018
 
$1,000.0
 
2.915%
 
March 24, 2025
June 25, 2018
 
$200.0
 
2.723%
 
March 23, 2025
July 31, 2018
 
$300.0
 
2.885%
 
March 23, 2025