Weighted-Average Contract Rate

Notional Amount

Fair Value Gain (Loss)

(in millions, except weighted-average contract rate)

As of December 31, 2019

Buy British pound sell Euro

0.86

$

3.3

$

—

Buy British pound sell U.S. dollar

1.30

2.7

0.1

Buy Chinese yuan sell Euro

7.99

58.4

0.4

Buy Chinese yuan sell U.S. dollar

7.16

73.8

1.9

Buy Colombian peso sell U.S. dollar

3,323.67

1.7

—

Buy Euro sell Australian dollar

1.62

1.1

—

Buy Euro sell British pound

0.86

4.9

(0.1

)

Buy Euro sell Hong Kong dollar

8.70

4.1

—

Buy Euro sell Indonesian rupiah

15,632.92

13.0

(0.1

)

Buy Euro sell Korean won

1,297.40

1.7

—

Buy Euro sell Malaysian ringgit

4.62

2.9

—

Buy Euro sell Mexican peso

22.41

63.3

(1.8

)

Buy Euro sell Peruvian nuevo sol

3.73

1.1

—

Buy Euro sell Philippine peso

56.66

12.0

0.1

Buy Euro sell Russian ruble

70.47

1.7

—

Buy Euro sell South African rand

15.95

2.7

—

Buy Euro sell Taiwan dollar

33.66

3.8

—

Buy Euro sell Thai baht

33.66

2.8

—

Buy Euro sell U.S. dollar

1.12

61.5

0.4

Buy Euro sell Vietnamese dong

26,052.72

31.7

(0.1

)

Buy Indonesian rupiah sell U.S. dollar

14,080.00

7.2

0.1

Buy Norwegian krone sell U.S. dollar

8.96

1.1

—

Buy Swedish krona sell U.S. dollar

9.36

0.6

—

Buy Taiwan dollar sell U.S. dollar

29.89

4.1

—

Buy U.S. dollar sell Colombian peso

3,304.37

1.9

—

Buy U.S. dollar sell Euro

1.12

134.9

(0.4

)

Buy U.S. dollar sell Mexican peso

22.54

3.7

(0.3

)

Total forward contracts

$

501.7

$

0.2

Weighted-Average Contract Rate

Notional Amount

Fair Value Gain (Loss)

(in millions, except weighted-average contract rate)

As of December 31, 2018

Buy Brazilian real sell U.S. dollar

3.92

$

4.3

$

—

Buy British pound sell Euro

0.90

8.3

—

Buy British pound sell U.S. dollar

1.27

2.7

—

Buy Chinese yuan sell Euro

8.14

58.6

1.7

Buy Colombian peso sell U.S. dollar

3,313.00

1.8

—

Buy Euro sell Australian dollar

1.61

1.1

—

Buy Euro sell British pound

0.91

4.7

—

Buy Euro sell Canadian dollar

1.55

0.2

—

Buy Euro sell Chinese yuan

7.91

6.3

—

Buy Euro sell Ghanaian cedi

5.73

8.5

(0.2

)

Buy Euro sell Hong Kong dollar

8.90

1.1

—

Buy Euro sell Indonesian rupiah

16,780.97

7.3

(0.1

)

Buy Euro sell Japanese yen

128.00

0.3

—

Buy Euro sell Kazakhstani tenge

431.37

0.7

—

Buy Euro sell Malaysian ringgit

4.79

3.7

—

Buy Euro sell Mexican peso

23.48

55.0

(0.9

)

Buy Euro sell Peruvian nuevo sol

3.83

2.2

—

Buy Euro sell Philippine peso

60.58

3.9

—

Buy Euro sell Russian ruble

78.87

3.3

—

Buy Euro sell South African rand

16.55

4.6

0.1

Buy Euro sell Taiwan dollar

34.98

1.2

—

Buy Euro sell Thai baht

37.32

0.8

—

Buy Euro sell U.S. dollar

1.15

51.2

(0.1

)

Buy Euro sell Ukrainian hryvnia

32.28

2.6

—

Buy Hong Kong dollar sell Euro

9.00

3.1

—

Buy Indian rupee sell U.S. dollar

70.32

1.5

—

Buy Indonesian rupiah sell U.S. dollar

14,670.00

7.0

0.1

Buy Korean won sell U.S. dollar

1,116.38

5.0

0.1

Buy Mexican peso sell Euro

22.89

10.9

0.1

Buy Mexican peso sell U.S. dollar

19.68

0.7

—

Buy Norwegian krone sell U.S. dollar

8.69

1.2

—

Buy Philippine peso sell Euro

60.27

1.5

—

Buy Swedish krona sell U.S. dollar

8.90

1.1

—

Buy Taiwan dollar sell U.S. dollar

30.17

9.4

0.1

Buy U.S. dollar sell Brazilian real

3.85

4.4

—

Buy U.S. dollar sell British pound

1.27

1.4

—

Buy U.S. dollar sell Colombian peso

3,262.80

1.4

—

Buy U.S. dollar sell Euro

1.16

97.6

0.5

Buy U.S. dollar sell Mexican peso

22.02

4.9

0.2

Total forward contracts

$

385.5

$

1.6

Location and Amount of (Loss) Gain Recognized in Income on Cash Flow Hedging Relationships

Year Ended December 31,

2019

2018

2017

Cost of sales

Selling, general, and administrative expenses

Cost of sales

Selling, general, and administrative expenses

Cost of sales

Selling, general, and administrative expenses

(in millions)

Total amounts presented in the consolidated statements of income

$

958.0

$

1,940.3

$

919.3

$

1,955.2

$

848.6

$

1,758.6

Foreign exchange currency contracts relating to inventory hedges:

Amount of (loss) gain reclassified from accumulated other comprehensive loss to income

(0.2

)

—

3.6

—

(0.5

)

—

Amount of loss excluded from assessment of effectiveness recognized in income(1)

(3.3

)

—

—

(2.9

)

—

(1.5

)

Foreign exchange currency contracts relating to intercompany management fee hedges:

Amount of gain (loss) reclassified from accumulated other comprehensive loss to income

—

1.0

—

(3.8

)

—

(2.2

)

Amount of gain excluded from assessment of effectiveness recognized in income(1)

—

0.2

—

0.8

—

1.4

(1)

As a result of adopting ASU 2017-12 during the first quarter of 2019, for the year ended December 31, 2019, the Company recognized gains (losses) excluded from the assessment of effectiveness on foreign exchange currency contracts relating to inventory hedges in cost of sales within its consolidated statements of income. Prior to the adoption of ASU 2017-12, for the years ended December 31, 2018 and 2017, the Company recognized gains (losses) excluded from the assessment of effectiveness on foreign exchange currency contracts relating to inventory hedges in selling, general, and administrative expenses within its consolidated statements of income.