DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair value of derivative instruments designated as hedging instruments that are reported in the Consolidated Balance Sheet

The following table provides the location and fair value amounts of derivative instruments designated and not designated as hedging instruments that are reported in the Condensed Consolidated Balance Sheet (in millions):

		September 30, 2019						December 31, 2018
Instrument (1)	Balance Sheet Account	Derivatives designated as hedges			Derivatives not designated as hedges			Derivatives designated as hedges			Derivatives not designated as hedges
Foreign exchange contracts	Other current assets	$	3.4		$	—		$	2.9		$	0.2
Cross currency swaps	Other current assets	0.9			—			0.8			—
Debt conversion feature	Other assets	—			0.2			—			0.5
Cross currency swaps	Other assets	0.3			—			—			—
Foreign exchange contracts	Other current liabilities	(8.6		)	(0.5		)	(5.0		)	—
Commodity swaps	Other current liabilities	(1.2		)	—			(1.1		)	—
Cross currency swaps	Other non-current liabilities	—			—			(3.0		)	—
Net derivative asset (liability)		$	(5.2	)	$	(0.3	)	$	(5.4	)	$	0.7

(1) Categorized as Level 2 under the ASC 820 Fair Value Hierarchy.

Schedule of derivative instruments that are designated as hedges in the Consolidated Statement of Comprehensive Income

The following tables provide the effect of derivative instruments that are designated as hedges in AOCI (in millions):

	Gain (Loss) Recognized on Derivatives in OCI, net of tax							Gain (Loss) Reclassified from AOCI into Income
Instrument	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019			Income Statement Account	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019
Foreign exchange contracts	$	(1.9	)	(1.4		)	Cost of goods sold	$	(2.8	)	$	(5.2	)
Commodity swaps	0.2			(0.1		)	Cost of goods sold	(1.5		)	(2.5		)
Cross currency swaps	0.2			0.9			Other income (expense) - net	1.9			2.3
Total	$	(1.5	)	$	(0.6	)	Total	$	(2.4	)	$	(5.4	)

	Gain (Loss) Recognized on Derivatives in OCI, net of tax							Gain (Loss) Reclassified from AOCI into Income
Instrument	Three Months Ended September 30, 2018			Nine Months Ended September 30, 2018			Income Statement Account	Three Months Ended September 30, 2018			Nine Months Ended September 30, 2018
Foreign exchange contracts	$	0.3		$	(6.5	)	Cost of goods sold	$	(1.3	)	$	1.3
Cross currency swaps	(0.2		)	(0.7		)	Other income (expense) - net	0.3			1.6
Total	$	0.1		$	(7.2	)	Total	$	(1.0	)	$	2.9

The following tables provide the effect of derivative instruments that are designated as hedges in the Condensed Consolidated Statement of Comprehensive Income (Loss) (in millions):

	Classification and amount of Gain or Loss Recognized in Income
	Cost of goods sold						Other income (expense) - net
	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019			Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Income Statement Accounts in which effects of cash flow hedges are recorded	$	(815.0	)	$	(2,748.9	)	$	1.6	$	(2.9	)
Gain (Loss) Reclassified from AOCI into Income:
Foreign exchange contracts	(2.8		)	(5.2		)	—		—
Commodity swaps	(1.5		)	(2.5		)	—		—
Cross currency swaps	—			—			1.9		2.3
Total	$	(4.3	)	$	(7.7	)	$	1.9	$	2.3

	Classification and amount of Gain or Loss Recognized in Income
	Cost of goods sold						Other income (expense) - net
	Three Months Ended September 30, 2018			Nine Months Ended September 30, 2018			Three Months Ended September 30, 2018			Nine Months Ended September 30, 2018
Income Statement Accounts in which effects of cash flow hedges are recorded	$	(858.7	)	$	(2,721.1	)	$	(3.7	)	$	(4.1	)
Gain (Loss) Reclassified from AOCI into Income:
Foreign exchange contracts	(1.3		)	1.3			—			—
Cross currency swaps	—			—			0.3			1.6
Total	$	(1.3	)	$	1.3		$	0.3		$	1.6

Schedule of fair value of derivative instruments not designated as hedging instruments that are reported in the Consolidated Statement of Comprehensive Income and Balance Sheet

Derivatives not designated as hedges are used to offset foreign exchange gains or losses resulting from the underlying exposures of foreign currency denominated assets and liabilities. The following table provides the effect of non-designated derivatives outstanding at the end of the period in the Condensed Consolidated Statement of Comprehensive Income (Loss) (in millions):

		Gain (Loss) Recognized in Income
Instrument	Income Statement Account	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019			Three Months Ended September 30, 2018			Nine Months Ended September 30, 2018
Foreign exchange contracts	Other income (expense) – net	$	(0.4	)	$	(0.7	)	$	(0.6	)	$	(0.9	)
Debt conversion feature	Other income (expense) – net	(0.1		)	(0.4		)	(1.1		)	(0.3		)
	Total	$	(0.5	)	$	(1.1	)	$	(1.7	)	$	(1.2	)