Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v3.8.0.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 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 as of December 31, 2017 and December 31, 2016:

Fair Value Measurements at Reporting Date Using

 

 

 

Derivative Balance Sheet Location

 

Significant

Other

Observable

Inputs

(Level 2)

Fair Value at

December 31,

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

 

$

2.9

 

 

$

4.6

 

Derivatives not designated as hedging

    instruments:

 

 

 

 

 

 

 

 

 

 

Foreign exchange currency contracts

 

Prepaid expenses and other current assets

 

 

2.9

 

 

 

2.8

 

 

 

 

 

$

5.8

 

 

$

7.4

 

LIABILITIES:

 

 

 

 

 

 

 

 

 

 

Derivatives designated as hedging

    instruments:

 

 

 

 

 

 

 

 

 

 

Foreign exchange currency contracts

    relating to inventory and

    intercompany management fee

    hedges

 

Other current liabilities

 

$

4.0

 

 

$

—

 

Derivatives not designated as hedging

    instruments:

 

 

 

 

 

 

 

 

 

 

Foreign exchange currency contracts

 

Other current liabilities

 

 

2.6

 

 

 

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 consolidated balance sheets as of December 31, 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)

 

December 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange currency contracts

 

$

5.8

 

 

$

(4.3

)

 

$

1.5

 

Total

 

$

5.8

 

 

$

(4.3

)

 

$

1.5

 

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)

 

December 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange currency contracts

 

$

6.6

 

 

$

(4.3

)

 

$

2.3

 

Total

 

$

6.6

 

 

$

(4.3

)

 

$

2.3

 

December 31, 2016

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange currency contracts

 

$

3.5

 

 

$

(3.0

)

 

$

0.5

 

Total

 

$

3.5

 

 

$

(3.0

)

 

$

0.5