Quarterly report pursuant to Section 13 or 15(d)

Derivative Instruments and Hedging Activities (Tables)

v3.5.0.2
Derivative Instruments and Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 2016
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Gains (Losses) Relating to Derivative Instruments Recorded in Other Comprehensive Income (Loss)

The following table summarizes gains (losses) relating to derivative instruments recorded in other comprehensive income (loss) during the three and six months ended June 30, 2016 and 2015:

 

 

 

Amount of Gain (Loss) Recognized

in Other Comprehensive Income (Loss)

 

 

 

For the Three Months Ended

 

 

For the Six Months Ended

 

 

 

June 30, 2016

 

 

June 30, 2015

 

 

June 30, 2016

 

 

June 30, 2015

 

 

 

(In millions)

 

Derivatives designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange currency contracts relating to inventory

   and intercompany management fee hedges

 

$

3.2

 

 

$

2.4

 

 

$

2.3

 

 

$

9.6

 

 
Gains (Losses) Relating to Derivative Instruments Recorded to Income (Loss)

The following table summarizes gains (losses) relating to derivative instruments recorded to income (loss) during the three and six months ended June 30, 2016 and 2015:

 

 

 

Location of Gain

 

Amount of Gain (Loss)

Recognized in Income (Loss)

 

 

 

(Loss)

 

For the Three Months Ended

 

 

For the Six Months Ended

 

 

 

Recognized in Income  (Loss)

 

June 30, 2016

 

 

June 30, 2015

 

 

June 30, 2016

 

 

June 30, 2015

 

 

 

 

 

(In millions)

 

Derivatives designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange currency contracts relating to

   inventory hedges and intercompany

   management fee hedges(1)

 

Selling, general and

administrative

expenses

 

$

0.5

 

 

$

(0.2

)

 

$

0.1

 

 

$

(0.3

)

Derivatives not designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange currency contracts

 

Selling, general and

administrative

expenses

 

$

(0.9

)

 

$

0.1

 

 

$

(3.2

)

 

$

(5.9

)

 

(1)

For foreign exchange contracts designated as hedging instruments, the amounts recognized in income (loss) primarily represent the amounts excluded from the assessment of hedge effectiveness for the three and six months ended June 30, 2015. For the three and six months ended June 30, 2016, there was a benefit of $0.6 million and $0.3 million, respectively, related to hedge ineffectiveness, partially offset by an expense of $0.1 million and $0.2 million, respectively, related to amounts excluded from the assessment of hedge effectiveness recognized in income (loss).
Gains (Losses) Relating to Derivative Instruments Reclassified from Accumulated Other Comprehensive Loss into Income (Loss) Effective Portion

The following table summarizes gains (losses) relating to derivative instruments reclassified from accumulated other comprehensive loss into income (loss) during the three and six months ended June 30, 2016 and 2015:

 

 

 

Location of Gain

(Loss)

Reclassified

from Accumulated

Other Comprehensive

 

Amount of Gain (Loss) Reclassified

from Accumulated

Other Comprehensive

Loss into Income (Loss)

 

 

 

Loss into Income (Loss)

 

For the Three Months Ended

 

 

For the Six Months Ended

 

 

 

(Effective Portion)

 

June 30, 2016

 

 

June 30, 2015

 

 

June 30, 2016

 

 

June 30, 2015

 

 

 

 

 

(In millions)

 

Derivatives designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange currency contracts relating to

   inventory hedges

 

Cost of sales

 

$

4.6

 

 

$

3.4

 

 

$

9.6

 

 

$

4.8

 

Foreign exchange currency contracts relating to

   intercompany management fee hedges

 

Selling, general and

administrative expenses

 

$

(0.4

)

 

$

—

 

 

$

(0.5

)

 

$

—