Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2016

Location and Fair Value of Derivative Instruments Designated as Hedging Instruments

The location and fair value of derivative instruments that are designated as hedging instruments recognized in the consolidated balance sheets at December 31, are as follows:

	Balance Sheet Location		Fair Value of Derivatives
Derivatives Designated as Hedging Instruments			2016		2015
(dollars in millions)
Forward currency contracts		Other current assets	$	10.9	$	2.9
Option currency contracts		Other current assets		—		3.8
Interest rate swap contract		Other current assets		—		0.2
Forward currency contracts		Other assets		3.9		—
			$	14.8	$	6.9
Forward currency contracts		Accrued expenses	$	6.2	$	6.2
Interest rate swap contract		Accrued expenses		—		8.0
			$	6.2	$	14.2

Location and Amounts of Gains and Losses on Derivative Instruments Designated as Cash Flow Hedges

The location and amounts of gains and losses on derivative instruments designated as cash flow hedges and the impact on shareholders’ investment for the years ended December 31, are as follows:

	Gain/(Loss) Recognized in Other Comprehensive Income (Loss)									Location of Gain/(Loss) Reclassified from Accumulated Other Comprehensive Loss into Income		Gain/(Loss) Reclassified from Accumulated Other Comprehensive Loss into Income
(dollars in millions)	2016			2015			2014					2016			2015			2014
Forward currency contracts	$	2.3		$	(5.1	)	$	(4.6	)		Cost of goods sold	$	(7.7	)	$	(2.3	)	$	1.4
Option currency contracts		(3.4	)		10.1			6.8			Cost of goods sold		(0.6	)		13.4			(2.0	)
Interest rate swap contract		(15.3	)		(8.2	)		0.2			Interest expense		(1.5	)		—			—
	$	(16.4	)	$	(3.2	)	$	2.4				$	(9.8	)	$	11.1		$	(0.6	)

Financial Instrument Assets/(Liabilities) Measured at Fair Value on Recurring Basis

The following table summarizes certain financial instrument assets/(liabilities) measured at fair value on a recurring basis at December 31:

	2016		2015
(dollars in millions)
Forward currency contracts	$	8.6	$	(3.3	)
Option currency contracts		—		3.8
Interest rate swap contracts		—		(7.8	)

Change in Liability for Contingent Consideration

The change in the liability for contingent consideration is as follows:

	2016			2015
(dollars in millions)
Balance, January 1	$	11.2		$	23.1
Purchase price contingent consideration		17.1			5.7
Payments		(2.3	)		(8.0	)
Change in fair value of contingent consideration		(11.1	)		(9.6	)
Balance, December 31	$	14.9		$	11.2