Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.8.0.1
Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2017
Fair Value Disclosures [Abstract]  
Derivative Assets and Liabilities Measured at Fair Value

The Company’s derivative assets and liabilities are measured at fair value and consisted of Level 2 inputs and their amounts are shown below at their gross values at September 30, 2017 and December 31, 2016:

 

 

 

Derivative Balance

Sheet

Location

 

Significant Other

Observable

Inputs

(Level 2)

Fair Value at

September 30,

2017

 

 

Significant Other

Observable

Inputs

(Level 2)

Fair Value at

December 31,

2016

 

 

 

 

 

(in millions)

 

ASSETS:

 

 

 

 

 

 

 

 

 

 

Derivatives designated as hedging

   instruments:

 

 

 

 

 

 

 

 

 

 

Foreign exchange currency contracts relating to

   inventory and intercompany management fee

   hedges

 

Prepaid expenses and

other current assets

 

$

0.8

 

 

$

4.6

 

Derivatives not designated as hedging

   instruments:

 

 

 

 

 

 

 

 

 

 

Foreign exchange currency contracts

 

Prepaid expenses and

other current assets

 

$

1.1

 

 

$

2.8

 

 

 

 

 

$

1.9

 

 

$

7.4

 

LIABILITIES:

 

 

 

 

 

 

 

 

 

 

Derivatives designated as hedging

   instruments:

 

 

 

 

 

 

 

 

 

 

Foreign exchange currency contracts relating to

   inventory and intercompany management fee

   hedges

 

Other current liabilities

 

$

5.5

 

 

$

—

 

Derivatives not designated as hedging

   instruments:

 

 

 

 

 

 

 

 

 

 

Foreign exchange currency contracts

 

Other current liabilities

 

$

1.1

 

 

$

3.5

 

 

 

 

 

$

6.6

 

 

$

3.5

 

 
Offsetting of Derivative Assets

The following tables summarize the offsetting of the fair values of the Company’s derivative assets and derivative liabilities for presentation in the Company’s condensed consolidated balance sheet at September 30, 2017 and December 31, 2016:

 

 

 

Offsetting of Derivative Assets

 

 

 

Gross

Amounts of

Recognized

Assets

 

 

Gross

Amounts

Offset in the

Balance Sheet

 

 

Net Amounts

of Assets

Presented in

the Balance

Sheet

 

 

 

(In millions)

 

September 30, 2017

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange currency contracts

 

$

1.9

 

 

$

(1.6

)

 

$

0.3

 

Total

 

$

1.9

 

 

$

(1.6

)

 

$

0.3

 

December 31, 2016

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange currency contracts

 

$

7.4

 

 

$

(3.0

)

 

$

4.4

 

Total

 

$

7.4

 

 

$

(3.0

)

 

$

4.4

 

 
Offsetting of Derivative Liabilities

 

 

 

Offsetting of Derivative Liabilities

 

 

 

Gross

Amounts of

Recognized

Liabilities

 

 

Gross

Amounts

Offset in the

Balance Sheet

 

 

Net Amounts

of Liabilities

Presented in

the Balance

Sheet

 

 

 

(In millions)

 

September 30, 2017

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange currency contracts

 

$

6.6

 

 

$

(1.6

)

 

$

5.0

 

Total

 

$

6.6

 

 

$

(1.6

)

 

$

5.0

 

December 31, 2016

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange currency contracts

 

$

3.5

 

 

$

(3.0

)

 

$

0.5

 

Total

 

$

3.5

 

 

$

(3.0

)

 

$

0.5