Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2019	Apr. 18, 2019
Document And Entity Information [Abstract]
Entity Registrant Name	Axalta Coating Systems Ltd.
Trading Symbol	AXTA
Entity Central Index Key	0001616862
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus (i.e. Q1,Q2,Q3,FY)	Q1
Amendment Flag	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		234,601,688

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Net sales	$ 1,119.3	$ 1,172.0
Cost of Goods and Services Sold	751.3	776.0
Selling, general and administrative expenses	217.5	227.8
Loss on assets held for sale	5.2	0.0
Research and development expenses	18.2	19.3
Amortization of acquired intangibles	28.5	28.9
Income from operations	98.6	120.0
Interest expense, net	41.3	39.4
Other income, net	(1.0)	(2.2)
Income before income taxes	58.3	82.8
Provision for income taxes	14.2	11.8
Net income	44.1	71.0
Less: Net income attributable to noncontrolling interests	0.7	1.1
Net income attributable to controlling interests	$ 43.4	$ 69.9
Basic net income (loss) per share (dollars per share)	$ 0.19	$ 0.29
Diluted net income (loss) per share (dollars per share)	$ 0.18	$ 0.28

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 44.1	$ 71.0
Other comprehensive (loss) income, before tax:
Foreign currency translation adjustments	13.3	43.1
Unrealized (loss) gain on derivatives	(14.6)	7.9
Unrealized gain on pension plan obligations	0.5	0.3
Other comprehensive (loss) income, before tax	(0.8)	51.3
Income tax (benefit) provision related to items of other comprehensive (loss) income	(1.7)	1.3
Other comprehensive income, net of tax	0.9	50.0
Comprehensive income	45.0	121.0
Less: Comprehensive (loss) income attributable to noncontrolling interests	1.2	2.0
Comprehensive income attributable to controlling interests	$ 43.8	$ 119.0

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 501.1	$ 693.6
Restricted cash	2.8	2.8
Accounts and notes receivable, net	920.5	860.8
Inventories	626.8	613.0
Prepaid expenses and other current assets	210.4	139.4
Total current assets	2,261.6	2,309.6
Property, plant and equipment, net	1,274.4	1,298.2
Goodwill	1,216.1	1,230.8
Identifiable intangibles, net	1,310.8	1,348.0
Other assets	610.5	489.1
Total assets	6,673.4	6,675.7
Current liabilities:
Accounts payable	530.9	522.8
Current portion of borrowings	43.5	42.2
Other accrued liabilities	447.1	475.6
Total current liabilities	1,021.5	1,040.6
Long-term borrowings	3,809.0	3,821.8
Accrued pensions	257.6	261.9
Deferred income taxes	138.5	140.8
Other liabilities	167.2	100.1
Total liabilities	5,393.8	5,365.2
Commitments and contingencies
Shareholders’ equity
Common shares, $1.00 par, 1,000.0 shares authorized, 247.8 and 246.7 shares issued at March 31, 2019 and December 31, 2018, respectively	247.0	245.3
Capital in excess of par	1,431.6	1,409.5
Retained earnings	241.3	198.6
Treasury shares, at cost 13.6 and 11.1 shares at March 31, 2019 and December 31, 2018, respectively	(378.0)	(312.2)
Accumulated other comprehensive loss	(335.7)	(336.1)
Total Axalta shareholders’ equity	1,206.2	1,205.1
Noncontrolling interests	73.4	105.4
Total shareholders’ equity	1,279.6	1,310.5
Total liabilities and shareholders’ equity	$ 6,673.4	$ 6,675.7

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 1.00	$ 1.00
Common shares authorized (in shares)	1,000,000,000.0	1,000,000,000.0
Common shares issued (in shares)	247,800,000	246,700,000
Treasury shares, at cost	13,600,000	11,100,000

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Operating activities:
Net income	$ 44.1	$ 71.0
Adjustment to reconcile net income to cash used for operating activities:
Depreciation and amortization	91.6	91.9
Amortization of deferred financing costs and original issue discount	2.2	1.9
Deferred income taxes	0.4	(4.9)
Realized and unrealized foreign exchange (gains) losses, net	0.9	(1.3)
Stock-based compensation	6.7	8.4
Loss on assets held for sale	5.2	0.0
Interest income on swaps designated as net investment hedges	(3.5)	0.0
Other non-cash, net	(0.3)	(5.3)
Changes in operating assets and liabilities:
Trade accounts and notes receivable	(90.4)	(52.3)
Inventories	(22.2)	(42.9)
Prepaid expenses and other assets	(60.5)	(30.2)
Accounts payable	35.4	33.9
Other accrued liabilities	(69.2)	(87.0)
Other liabilities	1.7	(4.2)
Cash used for operating activities	(57.9)	(21.0)
Investing activities:
Acquisitions, net of cash acquired	(1.7)	(78.2)
Purchase of property, plant and equipment	(20.5)	(39.5)
Interest proceeds on swaps designated as net investment hedges	3.5	0.0
Other investing activities, net	(0.1)	0.0
Cash used for investing activities	(18.8)	(117.7)
Financing activities:
Payments on short-term borrowings	(11.3)	(9.3)
Payments on long-term borrowings	(7.3)	(6.9)
Financing-related costs	(0.9)	0.0
Purchase of treasury stock	(65.7)	(3.3)
Proceeds from option exercises	11.4	6.2
Dividends paid to non-controlling interests	(1.1)	(1.0)
Investment in non-controlling interest	(26.9)	(26.9)
Cash used for financing activities	(101.8)	(41.2)
Decrease in cash	(178.5)	(179.9)
Effect of exchange rate changes on cash	0.8	10.3
Cash at beginning of period	696.4	772.9
Cash at end of period	518.7	603.3
Cash at end of period reconciliation:
Cash and cash equivalents	501.1	600.4
Restricted cash	2.8	2.9
Cash and restricted cash held for sale	14.8	0.0
Cash at end of period	$ 518.7	$ 603.3

Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation and Summary of Significant Accounting Policies (Notes)

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Basis of Accounting [Text Block]

The interim condensed consolidated financial statements included herein are unaudited. In the opinion of management, these statements include all adjustments, consisting only of normal, recurring adjustments, necessary for a fair statement of the financial position of Axalta Coating Systems Ltd., a Bermuda exempted company limited by shares, and its consolidated subsidiaries ("Axalta," the "Company," "we," "our" and "us") at March 31, 2019 and December 31, 2018, the results of operations and comprehensive income (loss) for the three months ended March 31, 2019 and 2018, and its cash flows for the three months then ended. All intercompany balances and transactions have been eliminated.

These interim unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America.

The interim unaudited condensed consolidated financial statements include the accounts of Axalta and its subsidiaries, and entities in which a controlling interest is maintained. Certain of our joint ventures are accounted for on a one-month lag basis, the effect of which is not material.

The results of operations for the three months ended March 31, 2019 are not necessarily indicative of the results to be expected for a full year.

Reclassifications

During the three months ended March 31, 2019, the condensed consolidated statements of operations were updated to combine "Net sales" and "Other revenue" into "Net sales". The 2018 condensed consolidated statements of operations have been updated for comparability with the current year presentation.

Correction of Immaterial Errors to Prior Period Financial Statements

During the three months ended March 31, 2019, the Company identified and corrected an error that affected the 2018 previously-issued consolidated and condensed financial statements. Specifically, the financial statements reflected an investment in noncontrolling interest payment of $26.9 million within investing activities as opposed to its appropriate classification within financing activities. The Company determined that these corrections were immaterial to the previously-issued financial statements. However, given the significance of the error and for comparability purposes, we have revised the condensed consolidated statements of cash flows for the three months ended March 31, 2018, and will revise annual and interim periods in future filings. This revision has no impacts on the consolidated or condensed statements of operations or balance sheets.



	Three months ended March 31, 2018
	As Reported			Revised
Cash used for investing activities	$	(144.6	)	$	(117.7	)
Cash used for financing activities	$	(14.3	)	$	(41.2	)

Recently Adopted Accounting Guidance

In February 2016, the FASB issued ASU 2016-02, "Leases," which, together with amendments comprising ASC 842, requires lessees to identify arrangements that should be accounted for as leases and generally recognized, for operating and finance leases with terms exceeding twelve months, a right-of-use asset (or "ROU") and lease liability on the balance sheet. In addition to this main provision, this standard included a number of additional changes to lease accounting. This standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted prior to this date. A modified retrospective transition approach is required, applying the new standard to all leases existing at the date of initial application. An entity may choose to use either the adoption date or the beginning of the earliest comparative period presented in the financial statements as its date of initial application. We elected to adopt the new standard on January 1, 2019 and use the adoption date as our date of initial application. As a result, historical financial information will not be updated, and the disclosures required under the new standard will not be provided as of and for periods before January 1, 2019. See Note 7 for further information on the implementation of the standard.

The new standard provides a number of optional practical expedients in transition. We have elected the package of practical expedients, which permits us not to reassess under the new standard our prior conclusions about lease identification, lease classification and initial direct costs. We have also elected the practical expedient pertaining to land easements which permits entities to forgo the evaluation of existing land easement arrangements in transition to determine if they contain a lease. We did not elect the use-of-hindsight practical expedient. The new standard also provides practical expedients for an entity’s ongoing accounting. We have elected the short term lease exception and we will not recognize ROU assets or lease liabilities for qualifying leases (leases with a term of less than 12 months from lease commencement). We also elected the accounting policy election to not separate lease and non-lease components for all asset classes.

The Company implemented an outsourced software solution to support the ongoing accounting requirements that this standard will have on our consolidated financial statements. We have evaluated the completeness and accuracy of lease data entered into the software solution and updated our processes, policies and internal controls. Changes to our internal controls covered the identification, accounting and disclosure of leases both upon adoption and subsequent to adoption. Adoption of the new standard at January 1, 2019 resulted in a one-time loss to retained earnings of $0.7 million on our condensed consolidated balance sheets and consolidated statement of changes in shareholders’ equity related to the net difference of derecognition of existing assets and debt obligations associated with our leases currently accounted for as sale-leaseback financings, for which the ASU requires accounting for as a lease at the date of initial application.

Of the accounting standards we have adopted in 2019, the below standard did not have a material impact:



ASU		Effective Date
2018-16	Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes	January 1, 2019

Revenue Revenue	3 Months Ended
Revenue Revenue	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenue	REVENUE We recognize revenue at the point our contractual performance obligations with our customers are satisfied. This occurs at the point in time when control of our products transfers to the customer based on considerations of right to payment, transfer of legal title, physical possession, risks and rewards of ownership and customer acceptance. For the majority of our revenue, control transfers upon shipment of our products to our customers. Our remaining revenue is recorded upon delivery or consumption for our product sales or as incurred for services provided and royalties earned. For certain customer arrangements within our light vehicle, industrial and commercial vehicle end-markets, revenue is recognized upon shipment, as this is the point in time we have concluded that control of our product has transferred to our customer based on our considerations of the indicators of control in the contracts, including right of use and risk and reward of ownership. For consignment arrangements, revenue is recognized upon actual consumption by our customers, as this represents the point in time that control is determined to have transferred to the customer based on the contractual arrangement. In our refinish end-market, our product sales are typically supplied through a network of distributors. Control transfers and revenue is recognized when our products are delivered to our distribution customers. Variable consideration in the form of price, less discounts and rebates, are estimated and recorded, as a reduction to net sales, upon the sale of our products based on our ability to make a reasonable estimate of the amounts expected to be received or incurred. The estimates of variable consideration involve significant assumptions based on the best estimates of inventory held by distributors, applicable pricing, as well as the use of historical actuals for sales, discounts and rebates, which may result in changes in estimates in the future. Consideration for products in which control has transferred to our customers that is conditional on something other than the passage of time is recorded as a contract asset within prepaid expenses and other on the balance sheet. The contract asset balances at March 31, 2019 and December 31, 2018 were $45.2 million and $47.2 million, respectively. We provide certain customers with incremental up-front consideration, subject to clawback provisions, including Business Incentive Plan assets ("BIPs"), which is capitalized as a component of other assets and amortized over the estimated life of the contractual arrangement as a reduction of net sales. At March 31, 2019 and December 31, 2018, the total carrying value of BIPs were $190.5 million and $190.8 million, respectively, and are presented within other assets on the condensed consolidated balance sheets. For the three months ended March 31, 2019 and 2018, $17.1 million and $16.3 million, respectively, were amortized and reflected as reductions of net sales in the condensed consolidated statements of operations. The total carrying value of BIPs exclude other upfront incentives made in conjunction with long-term customer commitments of $81.9 million and $56.0 million at March 31, 2019 and December 31, 2018, respectively, which will be repaid in future periods. See Note 18 for disaggregated net sales by end-market.

Acquisitions and Divestitures

3 Months Ended

Mar. 31, 2019

Business Combinations [Abstract]

Acquisitions

ACQUISITIONS AND DIVESTITURES

During the three months ended March 31, 2019, we entered into an agreement to sell our 60.0% interest in a consolidated joint venture within our Performance Coatings segment. The results of operations of the portion of the business to be sold is included in continuing operations within the condensed consolidated statements of operations. All assets and liabilities of the disposal group have been classified as held for sale on our condensed consolidated balance sheet and recorded at the lower of carrying value and fair value less cost to sell, which resulted in a loss of $5.2 million for the three months ended March 31, 2019. The carrying amounts of the major classes of assets and liabilities that were classified as held for sale at March 31, 2019, within prepaid and other current assets and other accrued liabilities, respectively, as follows:



	March 31, 2019
Assets
Cash and cash equivalents	$	7.3
Restricted cash	7.5
Accounts and notes receivable, net	30.4
Inventories	7.3
Property, plant and equipment, net	8.4
Goodwill	5.6
Identifiable intangibles, net	1.8
Other assets	5.2
Loss on assets held for sale	(5.2		)
Assets held for sale	$	68.3
Liabilities
Accounts payable	16.5
Other accrued liabilities	6.5
Other liabilities	4.4
Liabilities held for sale	$	27.4

Other Activity

In addition, during the three months ended March 31, 2019, pursuant to the stock purchase agreement for a joint venture acquired during the year ended December 31, 2016, we were required to purchase the remaining interest in our consolidated entity of 24.5% for $26.9 million, increasing our total ownership percentage to 100.0%.

At March 31, 2019, for any business combination completed after March 31, 2018, we have not finalized the related purchase accounting and the amounts recorded represent preliminary values. We expect to finalize our purchase accounting during the respective measurement periods which will be no later than one year following the closing dates.

Goodwill and Identifiable Intangible Assets

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Identifiable Intangible Assets

GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS

Goodwill

The following table shows changes in the carrying amount of goodwill from December 31, 2018 to March 31, 2019 by reportable segment:



	Performance Coatings			Transportation Coatings			Total
December 31, 2018	$	1,151.5		$	79.3		$	1,230.8
Purchase accounting adjustments	0.7			—			0.7
Held for sale adjustment	(5.6		)	—			(5.6		)
Foreign currency translation	(9.1		)	(0.7		)	(9.8		)
March 31, 2019	$	1,137.5		$	78.6		$	1,216.1

Identifiable Intangible Assets

The following tables summarize the gross carrying amounts and accumulated amortization of identifiable intangible assets by major class:



March 31, 2019	Gross Carrying Amount		Accumulated Amortization			Net Book Value		Weighted average amortization periods (years)
Technology	$	541.5	$	(271.4	)	$	270.1	10.4
Trademarks - indefinite-lived	265.8		—			265.8		Indefinite
Trademarks - definite-lived	100.2		(25.5		)	74.7		15.8
Customer relationships	924.4		(233.8		)	690.6		19.1
Other	15.7		(6.1		)	9.6		5.1
Total	$	1,847.6	$	(536.8	)	$	1,310.8



December 31, 2018	Gross Carrying Amount		Accumulated Amortization			Net Book Value		Weighted average amortization periods (years)
Technology	$	545.7	$	(260.7	)	$	285.0	10.4
Trademarks—indefinite-lived	269.0		—			269.0		Indefinite
Trademarks—definite-lived	100.6		(24.0		)	76.6		15.8
Customer relationships	929.9		(222.9		)	707.0		19.1
Other	15.7		(5.3		)	10.4		5.1
Total	$	1,860.9	$	(512.9	)	$	1,348.0

The estimated amortization expense related to the fair value of acquired intangible assets for the remainder of 2019 and each of the succeeding five years is:



Remainder of 2019	$	87.5
2020	113.5
2021	112.9
2022	110.7
2023	71.5
2024	66.6

Restructuring

3 Months Ended

Mar. 31, 2019

Restructuring and Related Activities [Abstract]

Restructuring

RESTRUCTURING

In accordance with the applicable guidance for ASC 712, Nonretirement Postemployment Benefits, we accounted for termination benefits and recognized liabilities when the loss was considered probable that employees were entitled to benefits and the amounts could be reasonably estimated.

We have incurred costs in connection with involuntary termination benefits associated with our corporate-related initiatives and cost-saving opportunities associated with our Fit For Growth and Axalta Way initiatives. These amounts are recorded within selling, general and administrative expenses in the condensed consolidated statements of operations. The payments associated with these actions are expected to be completed within 12 to 24 months from the balance sheet date.

The following table summarizes the activities related to the restructuring reserves and expenses from December 31, 2018 to March 31, 2019:



	2019 Activity
Balance at December 31, 2018	$	102.7
Expenses, net of changes to estimates	1.3
Payments made	(14.0		)
Foreign currency translation	(1.5		)
Balance at March 31, 2019	$	88.5

The impacts to pre-tax earnings from incremental accelerated depreciation resulting from the previously announced closure of our manufacturing facility in Mechelen, Belgium site, for the three months ended March 31, 2019 were $6.1 million, which were recorded to cost of goods sold. There was no accelerated depreciation recorded during the three months ended March 31, 2018.

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Guarantees We guarantee certain of our customers’ obligations to third parties, whereby any default by our customers on their obligations could force us to make payments to the applicable creditors. At March 31, 2019 and December 31, 2018, we had outstanding bank guarantees of $12.1 million and $12.7 million, respectively, which expire between 2019 and 2022. We monitor the obligations to evaluate whether we have a liability at the balance sheet date, for which none existed at March 31, 2019 and December 31, 2018. Other We are subject to various pending lawsuits, legal proceedings and other claims in the ordinary course of business, including civil, regulatory and environmental matters. These litigation matters may involve third-party indemnification obligations and/or insurance covering all or part of any potential damage against us. All of these matters are subject to many uncertainties and, accordingly, we cannot determine the ultimate outcome of the proceedings and other claims at this time, although management does not believe that such proceedings, individually or in the aggregate, will have a material adverse effect on the unaudited condensed consolidated financial statements of Axalta. The potential effects, if any, on such condensed consolidated financial statements will be recorded in the period in which these matters are probable and estimable.

Leases

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Leases

LEASES

We have operating and finance leases for certain warehouses, office spaces, land, and equipment. As described within Note 1, we adopted ASU 2016-02, "Leases," on January 1, 2019 requiring, among other changes, operating and finance leases with terms exceeding twelve months to be recognized as ROU assets and lease liabilities on the balance sheet.

Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. The lease term is determined to be the non-cancelable period including any lessee renewal options which are considered to be reasonably certain of exercise. The interest rate implicit in lease contracts is typically not readily determinable. As such, the Company used judgment to determine an appropriate incremental borrowing rate, which is the rate incurred to borrow on a collateralized basis over a similar term in a similar economic environment.

Certain of our lease agreements include rental payments based on an index or adjusted periodically for inflation. The changes to the CPI are treated as variable lease payments and recognized in the period in which the obligation for those payments was incurred. In addition, variable lease expense also includes elements of a contract that is based on usage during the term. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Supplemental balance sheet information related to leases is summarized as follows:



		March 31, 2019
Assets	Classification
Operating lease assets	Other assets ⁽¹⁾	$	95.5
Finance lease assets	Property, plant and equipment, net ⁽²⁾	70.3
Total leased assets		$	165.8
Liabilities
Current
Operating	Other accrued liabilities	$	28.1
Finance	Current portion of borrowings	2.9
Noncurrent
Operating	Other liabilities	71.8
Finance	Long-term borrowings	64.0
Total lease liabilities		$	166.8

⁽¹⁾Operating lease assets are recorded net of accumulated amortization of $5.0 million as of March 31, 2019.

⁽²⁾Finance lease assets are recorded net of accumulated amortization of $1.4 million as of March 31, 2019.

Components of lease expense are summarized as follows:



	Three months ended March 31
	2019
Finance lease cost
Amortization of right-of-use assets	$	1.0
Interest on lease liabilities	0.9
Operating lease cost	8.9
Variable lease cost	0.8
Short-term lease cost	0.3
Net lease cost	$	11.9

Supplemental cash flow information related to leases is summarized as follows:



	Three months ended March 31
	2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	9.1
Operating cash flows from finance leases	$	0.9
Financing cash flows from finance leases	$	1.2
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	5.9
Finance leases	$	—

Lease term and discount rate information is summarized as follows:



	March 31, 2019
Weighted-average remaining lease term (years)
Operating leases	5.5
Finance leases	17.7
Weighted-average discount rate
Operating leases	3.6	%
Finance leases	5.3	%

Maturities of lease liabilities as of March 31, 2019 is as follows:



	Operating Leases		Finance Leases
Year
Remainder of 2019	$	23.8	$	3.4
2020	25.9		5.5
2021	19.2		5.6
2022	13.0		5.7
2023	10.9		5.8
Thereafter	22.0		79.3
Total lease payments	$	114.8	$	105.3
Less: imputed interest	14.9		38.4
Present value of lease liabilities	$	99.9	$	66.9

As discussed in Note 1, we have elected the transition methodology to apply the standard at the beginning of the period of adoption, January 1, 2019, through a cumulative-effect adjustment to retained earnings. Under this transition method, the application date of the new standard shall begin in the reporting period in which we have adopted the standard. For comparability purposes, the following table reflects the total remaining cash payments related to all transactions during the rental term at December 31, 2018 associated with three lease arrangements that were treated as sale-leaseback financing transactions under ASC 840 and disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2018:



	Sale-leaseback obligations
2019	$	5.3
2020	5.4
2021	5.4
2022	5.7
2023	5.7
Thereafter	77.1
Total minimum payments	$	104.6

At December 31, 2018, future minimum payments under non-cancelable operating leases under ASC 840 were as follows:



	Operating Leases
2019	$	34.6
2020	23.5
2021	17.1
2022	13.2
2023	11.5
Thereafter	16.6
Total minimum payments	$	116.5

Leases

LEASES

We have operating and finance leases for certain warehouses, office spaces, land, and equipment. As described within Note 1, we adopted ASU 2016-02, "Leases," on January 1, 2019 requiring, among other changes, operating and finance leases with terms exceeding twelve months to be recognized as ROU assets and lease liabilities on the balance sheet.

Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. The lease term is determined to be the non-cancelable period including any lessee renewal options which are considered to be reasonably certain of exercise. The interest rate implicit in lease contracts is typically not readily determinable. As such, the Company used judgment to determine an appropriate incremental borrowing rate, which is the rate incurred to borrow on a collateralized basis over a similar term in a similar economic environment.

Certain of our lease agreements include rental payments based on an index or adjusted periodically for inflation. The changes to the CPI are treated as variable lease payments and recognized in the period in which the obligation for those payments was incurred. In addition, variable lease expense also includes elements of a contract that is based on usage during the term. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Supplemental balance sheet information related to leases is summarized as follows:



		March 31, 2019
Assets	Classification
Operating lease assets	Other assets ⁽¹⁾	$	95.5
Finance lease assets	Property, plant and equipment, net ⁽²⁾	70.3
Total leased assets		$	165.8
Liabilities
Current
Operating	Other accrued liabilities	$	28.1
Finance	Current portion of borrowings	2.9
Noncurrent
Operating	Other liabilities	71.8
Finance	Long-term borrowings	64.0
Total lease liabilities		$	166.8

⁽¹⁾Operating lease assets are recorded net of accumulated amortization of $5.0 million as of March 31, 2019.

⁽²⁾Finance lease assets are recorded net of accumulated amortization of $1.4 million as of March 31, 2019.

Components of lease expense are summarized as follows:



	Three months ended March 31
	2019
Finance lease cost
Amortization of right-of-use assets	$	1.0
Interest on lease liabilities	0.9
Operating lease cost	8.9
Variable lease cost	0.8
Short-term lease cost	0.3
Net lease cost	$	11.9

Supplemental cash flow information related to leases is summarized as follows:



	Three months ended March 31
	2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	9.1
Operating cash flows from finance leases	$	0.9
Financing cash flows from finance leases	$	1.2
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	5.9
Finance leases	$	—

Lease term and discount rate information is summarized as follows:



	March 31, 2019
Weighted-average remaining lease term (years)
Operating leases	5.5
Finance leases	17.7
Weighted-average discount rate
Operating leases	3.6	%
Finance leases	5.3	%

Maturities of lease liabilities as of March 31, 2019 is as follows:



	Operating Leases		Finance Leases
Year
Remainder of 2019	$	23.8	$	3.4
2020	25.9		5.5
2021	19.2		5.6
2022	13.0		5.7
2023	10.9		5.8
Thereafter	22.0		79.3
Total lease payments	$	114.8	$	105.3
Less: imputed interest	14.9		38.4
Present value of lease liabilities	$	99.9	$	66.9

As discussed in Note 1, we have elected the transition methodology to apply the standard at the beginning of the period of adoption, January 1, 2019, through a cumulative-effect adjustment to retained earnings. Under this transition method, the application date of the new standard shall begin in the reporting period in which we have adopted the standard. For comparability purposes, the following table reflects the total remaining cash payments related to all transactions during the rental term at December 31, 2018 associated with three lease arrangements that were treated as sale-leaseback financing transactions under ASC 840 and disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2018:



	Sale-leaseback obligations
2019	$	5.3
2020	5.4
2021	5.4
2022	5.7
2023	5.7
Thereafter	77.1
Total minimum payments	$	104.6

At December 31, 2018, future minimum payments under non-cancelable operating leases under ASC 840 were as follows:



	Operating Leases
2019	$	34.6
2020	23.5
2021	17.1
2022	13.2
2023	11.5
Thereafter	16.6
Total minimum payments	$	116.5

Long-term Employee Benefits

3 Months Ended

Mar. 31, 2019

Retirement Benefits [Abstract]

Long-term Employee Benefits

LONG-TERM EMPLOYEE BENEFITS

Components of Net Periodic Benefit Cost

The following table sets forth the components of net periodic benefit cost for the three months ended March 31, 2019 and 2018:



	Three Months Ended March 31,
	2019			2018
Components of net periodic benefit cost:
Net periodic benefit cost:
Service cost	$	1.9		$	2.3
Interest cost	3.2			3.4
Expected return on plan assets	(3.5		)	(4.2		)
Amortization of actuarial loss, net	0.5			0.3
Net periodic benefit cost	$	2.1		$	1.8

Stock-based Compensation

3 Months Ended

Mar. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-based Compensation

STOCK-BASED COMPENSATION

During the three months ended March 31, 2019 and 2018, we recognized $6.7 million and $8.4 million, respectively, in stock-based compensation expense which was allocated between costs of goods sold and selling, general and administrative expenses on the condensed consolidated statements of operations. We recognized tax benefits of $1.3 million and $1.5 million for the three months ended March 31, 2019 and 2018, respectively. Forfeitures are recorded in the period they occur.

2019 Activity

In February 2019, we granted non-qualified service-based stock options, restricted stock units and performance share units to certain employees and directors. All awards were granted under the Company's Amended and Restated 2014 Incentive Award Plan. The performance share units are subject to certain performance and market conditions, in addition to the service-based vesting conditions. A summary of award activity by type for the three months ended March 31, 2019 is presented below.



Stock Options	Awards/Units (in millions)		Weighted- Average Exercise Price		Aggregate Intrinsic Value (in millions)		Weighted Average Remaining Contractual Life (years)
Outstanding at January 1, 2019	7.2		$	19.32
Granted	0.8		27.01
Exercised	(1.2	)	10.04
Forfeited	(0.1	)	28.52
Outstanding at March 31, 2019	6.7		$	21.64
Vested and expected to vest at March 31, 2019	6.7		$	21.64	$	38.9	6.08
Exercisable at March 31, 2019	5.2		$	19.72	$	38.9	5.17

Cash received by the Company upon exercise of options for the three months ended March 31, 2019 was $11.4 million. Excess tax benefits on these exercises were $3.7 million.

At March 31, 2019, there is $7.6 million of unrecognized expense relating to unvested stock options that is expected to be amortized over a weighted average period of 1.7 years.



Restricted Stock Awards and Restricted Stock Units	Awards (millions)		Weighted-Average Fair Value
Outstanding at January 1, 2019	1.6		$	29.12
Granted	0.6		27.01
Vested	(0.6	)	27.99
Forfeited	—		26.89
Outstanding at March 31, 2019	1.6		$	28.76

Tax shortfall expenses on the vesting of restricted stock and restricted stock units during the three months ended March 31, 2019 was $0.1 million.

At March 31, 2019, there is $29.5 million of unamortized expense relating to unvested restricted stock and restricted stock units that is expected to be amortized over a weighted average period of 1.7 years.



Performance Stock Awards and Performance Share Units	Awards (millions)		Weighted-Average Fair Value
Outstanding at January 1, 2019	0.8		$	31.82
Granted	0.3		29.28
Vested	—		—
Forfeited	(0.3	)	25.66
Outstanding at March 31, 2019	0.8		$	33.47

At March 31, 2019, there is $16.5 million of unamortized expense relating to unvested performance stock awards and performance share units that is expected to be amortized over a weighted average period of 2.2 years. The forfeitures include performance stock awards and performance share units that did not meet the performance target required for vesting.

Other Income, Net

3 Months Ended

Mar. 31, 2019

Other Income and Expenses [Abstract]

Other (Income) Expense, Net

OTHER INCOME, NET



	Three Months Ended March 31,
	2019			2018
Foreign exchange losses, net	$	2.4		$	—
Other miscellaneous income, net	(3.4		)	(2.2		)
Total	$	(1.0	)	$	(2.2	)

Income Taxes

3 Months Ended

Mar. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

Our effective income tax rates for the three months ended March 31, 2019 and 2018 are as follows:

The higher effective tax rate for the three months ended March 31, 2019 was primarily due to the unfavorable impact of net currency exchange losses in 2019 and the one-time favorable impact related to the reduction of the U.S. Tax Cuts and Jobs Act tax charge which lowered the effective tax rate in 2018. These adjustments were partially offset by an increase in net excess tax benefits related to stock-based compensation of $3.6 million compared with $2.4 million for the three months ended March 31, 2019 and 2018, respectively.

The effective tax rate for the three months ended March 31, 2019 differs from the U.S. Federal statutory rate due to various items that impacted the effective rate both favorably and unfavorably. We recorded the unfavorable impact of pre-tax losses attributable to jurisdictions where a tax benefit is not expected to be realized, net currency exchange losses and the unfavorable impact associated with the loss on assets held for sale. These adjustments were offset by the favorable adjustments for earnings in jurisdictions where the statutory rate is lower than the U.S. Federal statutory rate, and current year net excess tax benefits related to stock-based compensation.

Earnings (Loss) Per Common Share

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Earnings (Loss) Per Common Share

EARNINGS PER COMMON SHARE

Basic earnings per common share excludes the dilutive impact of potentially dilutive securities and is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted earnings per common share includes the effect of potential dilution from the hypothetical exercise of outstanding stock options and vesting of restricted shares and performance shares. A reconciliation of our basic and diluted earnings per common share is as follows:



	Three Months Ended March 31,
(In millions, except per share data)	2019		2018
Net income to common shareholders	$	43.4	$	69.9
Basic weighted average shares outstanding	234.1		240.9
Diluted weighted average shares outstanding	236.6		245.8
Earnings per common share:
Basic earnings per share	$	0.19	$	0.29
Diluted earnings per share	$	0.18	$	0.28

The number of anti-dilutive shares that have been excluded in the computation of diluted earnings per share for the three months ended March 31, 2019 and 2018 were 2.9 million and 2.5 million, respectively.

Accounts and Notes Receivable, Net

3 Months Ended

Mar. 31, 2019

Receivables [Abstract]

Accounts and Notes Receivable, Net

ACCOUNTS AND NOTES RECEIVABLE, NET



	March 31, 2019		December 31, 2018
Accounts receivable - trade, net ⁽¹⁾	$	809.9	$	739.9
Notes receivable	26.2		36.1
Other	84.4		84.8
Total	$	920.5	$	860.8

(1) Allowance for doubtful accounts was $13.9 million and $15.4 million at March 31, 2019 and December 31, 2018, respectively.

Bad debt expense of $1.0 million and $0.2 million was included within selling, general and administrative expenses for the three months ended March 31, 2019 and March 31, 2018.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

Inventories

3 Months Ended

Mar. 31, 2019

Inventory Disclosure [Abstract]

Inventories

INVENTORIES



	March 31, 2019		December 31, 2018
Finished products	$	349.3	$	334.0
Semi-finished products	110.0		108.0
Raw materials	146.4		149.9
Stores and supplies	21.1		21.1
Total	$	626.8	$	613.0

Property, Plant and Equipment, Net

3 Months Ended

Mar. 31, 2019

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

PROPERTY, PLANT AND EQUIPMENT, NET

Depreciation expense amounted to $45.4 million and $46.4 million for the three months ended March 31, 2019 and March 31, 2018, respectively.



	March 31, 2019			December 31, 2018
Property, plant and equipment	$	2,224.8		$	2,218.8
Accumulated depreciation	(950.4		)	(920.6		)
Property, plant, and equipment, net	$	1,274.4		$	1,298.2

Borrowings

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Borrowings

BORROWINGS

Borrowings are summarized as follows:



	March 31, 2019			December 31, 2018
2024 Dollar Term Loans	$	2,405.7		$	2,411.8
2024 Dollar Senior Notes	500.0			500.0
2024 Euro Senior Notes	376.9			383.3
2025 Euro Senior Notes	506.3			514.9
Short-term and other borrowings	111.4			103.8
Unamortized original issue discount	(12.1		)	(12.6		)
Unamortized deferred financing costs	(35.7		)	(37.2		)
	$	3,852.5		$	3,864.0
Less:
Short-term borrowings	$	19.2		$	17.9
Current portion of long-term borrowings	24.3			24.3
Long-term debt	$	3,809.0		$	3,821.8

Senior Secured Credit Facilities, as amended

On December 15, 2016, Axalta Coating Systems Dutch B B.V. (“Dutch B B.V.”) and its indirect 100% owned subsidiary, Axalta Coating Systems U.S. Holdings Inc. (“Axalta US Holdings”) executed the fourth amendment (the "Fourth Amendment") to the credit agreement (the “Credit Agreement”) governing our Senior Secured Credit Facilities (as defined below). The Fourth Amendment (i) converted all of the outstanding U.S. Dollar term loans ($1,775.3 million) into a new tranche of term loans issued at par with principal of $1,545.0 million (the "2023 Dollar Term Loans"), (ii) converted all of the outstanding Euro term loans (€199.0 million) into a new tranche of term loans issued at par with principal of €400.0 million (the "2023 Euro Term Loans" and, together with the 2023 Dollar Term Loans, the "2023 Term Loans").

On June 1, 2017, Dutch B B.V. and Axalta US Holdings executed the fifth amendment to the Credit Agreement (the "Fifth Amendment"). The Fifth Amendment converted all of the outstanding 2023 Dollar Term Loans ($1,541.1 million) into a new upsized tranche of term loans with principal of $2,000.0 million (the "2024 Dollar Term Loans"). The 2024 Dollar Term Loans were issued at 99.875% of par, or a $2.5 million discount.

On April 11, 2018, Dutch B B.V. and Axalta US Holdings executed the sixth amendment to the Credit Agreement (the "Sixth Amendment"). The Sixth Amendment repriced the 2024 Dollar Term Loans and increased the aggregate principal balance by $475.0 million to $2,430.0 million. The increased principal balance of the 2024 Dollar Term Loans under the Sixth Amendment was issued at 99.750% of par or a $6.0 million discount. Proceeds from the Sixth Amendment, along with cash on the balance sheet, were used to extinguish the existing 2023 Euro Term Loans. The 2024 Dollar Term Loans together with the Revolving Credit Facility, as defined herein, are referred to as the "Senior Secured Credit Facilities."

On October 31, 2018, Dutch B B.V. and Axalta US Holdings, the Company, and certain other subsidiaries of the Company as guarantors entered into the seventh amendment to the Credit Agreement (the "Seventh Amendment"). The Seventh Amendment amended the Credit Agreement to, among other things, (i) allow for the Company and certain wholly owned subsidiaries of the Company to be added as guarantors under the Credit Agreement, (ii) provide that (A) the covenants in the Credit Agreement generally apply to the Company and its restricted subsidiaries and (B) upon election at any time thereafter, a successor holdings guarantor may be designated and, upon the effectiveness of the guarantee of such successor parent guarantor, the covenants in the Credit Agreement will generally apply to such successor holdings guarantor and its restricted subsidiaries, (iii) otherwise amend the Credit Agreement in order to effect certain corporate transactions as part of a potential internal reorganization of certain of the Company's subsidiaries and certain potential future reorganizations involving the Company and (iv) update guarantee limitations for certain of the guarantors.

Interest was and is payable quarterly on both the 2023 Term Loans and 2024 Dollar Term Loans.

The 2024 Dollar Term Loans are subject to a floor of zero plus an applicable rate of 1.75% per annum for Eurocurrency Rate Loans as defined in the Credit Agreement and 0.75% per annum for Base Rate Loans as defined in the Credit Agreement.

Prior to the Sixth Amendment, interest on the 2024 Dollar Term Loans was subject to a floor of zero, plus an applicable rate. The applicable rate for such 2024 Dollar Term Loans was 2.00% per annum for Eurocurrency Rate Loans as defined in the Credit Agreement and 1.00% per annum for Base Rate Loans as defined in the Credit Agreement.

Prior to the Fifth Amendment, interest on the 2023 Dollar Term Loans was subject to a floor of 0.75%, plus an applicable rate. The applicable rate for such 2023 Dollar Term Loans was 2.50% per annum for Eurocurrency Rate Loans as defined in the Credit Agreement and 1.50% per annum for Base Rate Loans as defined in the Credit Agreement. The 2023 Euro Term Loans were also subject to a floor of 0.75%, plus an applicable rate of 2.25% per annum for Eurocurrency Rate Loans. The 2023 Euro Term Loans may not be Base Rate Loans.

Any indebtedness under the Senior Secured Credit Facilities may be voluntarily prepaid in whole or in part, in minimum amounts, subject to the provisions set forth in the Credit Agreement. Such indebtedness is subject to mandatory prepayments amounting to the proceeds of asset sales over $75.0 million annually, proceeds from certain debt issuances not otherwise permitted under the Credit Agreement and 50% (subject to a step-down to 25.0% or 0% if the First Lien Leverage Ratio falls below 4.25:1.00 or 3.50:1.00, respectively) of Excess Cash Flow.

The Senior Secured Credit Facilities are secured by substantially all assets of the Company and the other guarantors. The 2024 Dollar Term Loans mature on June 1, 2024. Principal is paid quarterly based on 1% per annum of the original principal amount outstanding on the most recent amendment date with the unpaid balance due at maturity.

We are subject to customary negative covenants in addition to the First Lien Leverage Ratio financial covenant for purposes of determining any Excess Cash Flow mandatory payment. Further, the Senior Secured Credit Facilities, among other things, include customary restrictions (subject to certain exceptions) on the Company's ability to incur certain indebtedness, grant certain liens, make certain investments, declare or pay certain dividends, or repurchase shares of the Company's common stock. As of March 31, 2019, the Company is in compliance with all covenants under the Senior Secured Credit Facilities.

Revolving Credit Facility

On August 1, 2016 (the "Third Amendment Effective Date"), Dutch B B.V. and Axalta US Holdings executed the third amendment to the Credit Agreement (the "Third Amendment"). The Third Amendment impacted the revolving credit facility under the Senior Secured Credit Facilities (the "Revolving Credit Facility") by (i) extending the maturity of the Revolving Credit Facility to five years from the Third Amendment Effective Date, or August 1, 2021, provided that such date will be accelerated to the date that is 91 days prior to the maturity of the term loans borrowed under the Credit Agreement if the maturity of such term loans precedes the maturity of the Revolving Credit Facility, (ii) decreasing the applicable interest margins, and (iii) amending the financial covenant applicable to the Revolving Credit Facility to be applicable only when greater than 30% (previously 25%) of the Revolving Credit Facility (including letters of credit not cash collateralized to at least 103%) is outstanding at the end of the fiscal quarter. If such conditions are met, the First Lien Net Leverage Ratio (as defined by the Credit Agreement) at the end of the quarter is required to be greater than 5.50:1.00. At March 31, 2019, the financial covenant is not applicable as there were no borrowings.

Under the Third Amendment, interest on any outstanding borrowings under the Revolving Credit Facility is subject to a floor of zero for Adjusted Eurocurrency Rate Loans (as defined in the Credit Agreement) plus an applicable rate of 2.75% (previously 3.50%) subject to an additional step-down to 2.50% or 2.25%, if the First Lien Net Leverage Ratio falls below 3.00:1.00 or 2.50:1.00, respectively. For Base Rate Loans, the interest is subject to a floor of the greater of the federal funds rate plus 0.50%, the Prime Lending Rate or an Adjusted Eurocurrency Rate plus 1%, plus an applicable rate of 1.75% (previously 2.50%), subject to an additional step-down to 1.50% or 1.25%, if the First Lien Net Leverage Ratio falls below 3.00:1.00 and 2.50:1.00, respectively.

Under circumstances described in the Credit Agreement, we may increase available revolving or term facility borrowings by up to $700.0 million plus an additional amount subject to the Company not exceeding a maximum first lien leverage ratio described in the Credit Agreement.

There have been no borrowings on the Revolving Credit Facility since the issuance of the Senior Secured Credit Facilities. At March 31, 2019 and December 31, 2018, letters of credit issued under the Revolving Credit Facility totaled $43.9 million and $44.8 million, respectively, which reduced the availability under the Revolving Credit Facility. Availability under the Revolving Credit Facility was $356.1 million and $355.2 million at March 31, 2019 and December 31, 2018, respectively.

Significant Terms of the Senior Notes

On August 16, 2016, Axalta Coating Systems, LLC (the "U.S. Issuer") issued $500.0 million in aggregate principal amount of 4.875% senior unsecured notes (the “2024 Dollar Senior Notes”) and €335.0 million in aggregate principal amount of 4.250% senior unsecured notes (the “2024 Euro Senior Notes”), each due August 2024 (collectively the “2024 Senior Notes”).

On September 27, 2016, Dutch B B.V. (the "Dutch Issuer" and together with the U.S. Issuer, the "Issuers"), issued €450.0 million in aggregate principal amount of 3.750% Euro Senior Unsecured Notes due January 2025 (the “2025 Euro Senior Notes” and together with the 2024 Senior Notes, the "Senior Notes").

The indentures governing the Senior Notes contain covenants that restrict the ability of the Issuers and their subsidiaries to, among other things, incur additional debt, make certain payments including payment of dividends or repurchase equity interest of the Issuers, make loans or acquisitions or capital contributions and certain investments, incur certain liens, sell assets, merge or consolidate or liquidate other entities, and enter into transactions with affiliates.

On October 26, 2018, the U.S. Issuer and the party thereto entered into a seventh supplemental indenture (the “2024 Seventh Supplemental Indenture”) to the 2024 Senior Notes. In addition, on October 26, 2018, the Dutch Issuer and the new guarantors party thereto entered into a seventh supplemental indenture (the “2025 Seventh Supplemental Indenture” and, together with the 2024 Seventh Supplemental Indenture, the “October 2018 Supplemental Indentures”) to the 2025 Euro Senior Notes. The October 2018 Supplemental Indentures permit the Company and its subsidiaries to effect certain corporate transactions as part of a potential internal reorganization of certain of the Company's subsidiaries (the "Proposed Restructuring") and certain potential future reorganizations involving the Company. Each of the October 2018 Supplemental Indentures amended the applicable indenture in order to, among other things, (i) add the Company and certain wholly owned subsidiaries of the Company as guarantors of the applicable Senior Notes, (ii) provide that (A) the covenants of the applicable Indenture generally apply to the Company and its restricted subsidiaries and (B) upon an election by the relevant Issuer at any time thereafter, a successor parent guarantor may be designated and, upon the effectiveness of the guarantee of such successor parent guarantor, the covenants of the applicable Indenture will generally apply to such successor parent guarantor and its restricted subsidiaries, (iii) otherwise amend the applicable Indenture in order to effect the Proposed Restructuring (as defined below) and (iv) update guarantee limitations for certain of the guarantors.

In connection with the October 2018 Supplemental Indentures above, the Company became the parent guarantor of the Senior Notes.

(i) 2024 Dollar Senior Notes

The 2024 Dollar Senior Notes were issued at 99.951% of par, or $2.0 million discount, and are due August 15, 2024. The 2024 Dollar Senior Notes bear interest at 4.875% which is payable semi-annually on February 15 and August 15. We have the option to redeem all or part of the 2024 Dollar Senior Notes at the following redemption prices (expressed as percentages of principal amount) on or after August 15 of the years indicated:



Period	2024 Dollar Senior Notes Percentage
2019	103.656	%
2020	102.438	%
2021	101.219	%
2022 and thereafter	100.000	%

Notwithstanding the foregoing, at any time and from time to time prior to August 15, 2019, we may at our option redeem in the aggregate up to 40% of the original aggregate principal amount of the 2024 Dollar Senior Notes with the net cash proceeds of one or more Equity Offerings (as defined in the indenture governing the 2024 Dollar Senior Notes) at a redemption price of 104.875% plus accrued and unpaid interest, if any, to the redemption date. At least 50% of the original aggregate principal of the notes must remain outstanding after each such redemption.

Upon the occurrence of certain events constituting a change of control, holders of the 2024 Dollar Senior Notes have the right to require us to repurchase all or any part of the 2024 Dollar Senior Notes at a purchase price equal to 101% of the principal amount plus accrued and unpaid interest, if any, to the repurchase date.

The 2024 Dollar Senior Notes, subject to local law limitations, are jointly and severally guaranteed on a senior unsecured basis by the Company and each of its existing and future direct and indirect subsidiaries that is a borrower under or that guarantees the Senior Secured Credit Facilities. Under certain circumstances, the guarantors may be released from their guarantees without the consent of the holders of the applicable series of notes.

The indebtedness issued through the 2024 Dollar Senior Notes is senior unsecured indebtedness of the U.S. Issuer, is senior in right of payment to all future subordinated indebtedness of the U.S. Issuer and guarantors and is equal in right of payment to all existing and future senior indebtedness of the U.S. Issuer and guarantors. The 2024 Dollar Senior Notes are effectively subordinated to any secured indebtedness of the U.S. Issuer and guarantors (including indebtedness outstanding under the Senior Secured Credit Facilities) to the extent of the value of the assets securing such indebtedness.

(ii) 2024 Euro Senior Notes

The 2024 Euro Senior Notes were issued at par and are due August 15, 2024. The 2024 Euro Senior Notes bear interest at 4.250% which is payable semi-annually on February 15 and August 15. We have the option to redeem all or part of the 2024 Euro Senior Notes at the following redemption prices (expressed as percentages of principal amount) on or after August 15 of the years indicated:



Period	2024 Euro Senior Notes Percentage
2019	103.188	%
2020	102.125	%
2021	101.063	%
2022 and thereafter	100.000	%

Notwithstanding the foregoing, at any time and from time to time prior to August 15, 2019, we may at our option redeem in the aggregate up to 40% of the original aggregate principal amount of the 2024 Euro Senior Notes with the net cash proceeds of one or more Equity Offerings (as defined in the indenture governing the 2024 Euro Senior Notes) at a redemption price of 104.250% plus accrued and unpaid interest, if any, to the redemption date. At least 50% of the original aggregate principal of the notes must remain outstanding after each such redemption.

Upon the occurrence of certain events constituting a change of control, holders of the 2024 Euro Senior Notes have the right to require us to repurchase all or any part of the 2024 Euro Senior Notes at a purchase price equal to 101% of the principal amount plus accrued and unpaid interest, if any, to the repurchase date.

The 2024 Euro Senior Notes, subject to local law limitations, are jointly and severally guaranteed on a senior unsecured basis by the Company and each of its existing and future direct and indirect subsidiaries that is a borrower under or that guarantees the Senior Secured Credit Facilities. Under certain circumstances, the guarantors may be released from their guarantees without the consent of the holders of the applicable series of notes.

The indebtedness issued through the 2024 Euro Senior Notes is senior unsecured indebtedness of the U.S. Issuer, is senior in right of payment to all future subordinated indebtedness of the U.S. Issuer and guarantors and is equal in right of payment to all existing and future senior indebtedness of the U.S. Issuer and guarantors. The 2024 Euro Senior Notes are effectively subordinated to any secured indebtedness of the U.S. Issuer and guarantors (including indebtedness outstanding under the Senior Secured Credit Facilities) to the extent of the value of the assets securing such indebtedness.

(iii) 2025 Euro Senior Notes

The 2025 Euro Senior Notes were issued at par and are due January 15, 2025. The 2025 Euro Senior Notes bear interest at 3.750% which is payable semi-annually on January 15 and July 15. We have the option to redeem all or part of the 2025 Euro Senior Notes at the following redemption prices (expressed as percentages of principal amount) on or after January 15 of the years indicated:



Period	2025 Euro Senior Notes Percentage
2019	102.813	%
2020	101.875	%
2021	100.938	%
2022 and thereafter	100.000	%

Notwithstanding the foregoing, at any time and from time to time prior to January 15, 2020, we may at our option redeem in the aggregate up to 40% of the original aggregate principal amount of the 2025 Euro Senior Notes with the net cash proceeds of one or more Equity Offerings (as defined in the indenture governing the 2025 Euro Senior Notes) at a redemption price of 103.750% plus accrued and unpaid interest, if any, to the redemption date. At least 50% of the original aggregate principal of the notes must remain outstanding after each such redemption.

Upon the occurrence of certain events constituting a change of control, holders of the 2025 Euro Senior Notes have the right to require us to repurchase all or any part of the 2025 Euro Senior Notes at a purchase price equal to 101% of the principal amount plus accrued and unpaid interest, if any, to the repurchase date.

The 2025 Euro Senior Notes, subject to local law limitations, are jointly and severally guaranteed on a senior unsecured basis by the Company and each of its existing and future direct and indirect subsidiaries that is a borrower under or that guarantees the Senior Secured Credit Facilities (other than the Dutch Issuer). Under certain circumstances, the guarantors may be released from their guarantees without the consent of the holders of the applicable series of notes.

The indebtedness issued through the 2025 Euro Senior Notes is senior unsecured indebtedness of the Dutch Issuer, is senior in right of payment to all future subordinated indebtedness of the Dutch Issuer and guarantors and is equal in right of payment to all existing and future senior indebtedness of the Dutch Issuer and guarantors. The 2025 Euro Senior Notes are effectively subordinated to any secured indebtedness of the Dutch Issuer and guarantors (including indebtedness outstanding under the Senior Secured Credit Facilities) to the extent of the value of the assets securing such indebtedness.

Future repayments

Below is a schedule of required future repayments of all borrowings outstanding at March 31, 2019.



Remainder of 2019	$	35.8
2020	26.9
2021	26.8
2022	54.3
2023	27.1
Thereafter	3,729.4
	$	3,900.3

Financial Instruments, Hedging Activities and Fair Value Measurements

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Financial Instruments, Hedging Activities and Fair Value Measurements

FINANCIAL INSTRUMENTS, HEDGING ACTIVITIES AND FAIR VALUE MEASUREMENTS

Fair value of financial instruments

Equity securities with readily determinable fair values - Balances of equity securities are recorded within other assets, with any changes in fair value recorded within other expense, net. The fair values of available for sale securities are based upon Level 1 inputs when the securities are actively traded with quoted market prices.

Long-term borrowings - The estimated fair values of these notes are based on recent trades, as reported by a third-party pricing service. Due to the infrequency of trades, these inputs are considered to be Level 2 inputs.

Derivative instruments - The Company’s interest rate caps, interest rate swaps and cross-currency swaps are valued using broker quotations, or market transactions in either the listed or over-the-counter markets. As such, these derivative instruments are considered to be Level 2 inputs.

Fair value of contingent consideration

The fair value of contingent consideration associated with acquisitions completed in prior years are valued at each balance sheet date, until amounts become payable, with adjustments recorded within selling, general and administrative expenses on the condensed consolidated statement of operations. Due to the significant unobservable inputs used in the valuations, these liabilities are categorized within Level 3 of the fair value hierarchy. Adjustments made to fair value were immaterial for both the three months ended March 31, 2019 and March 31, 2018.

The table below presents the fair values of our financial instruments measured on a recurring basis by level within the fair value hierarchy at March 31, 2019 and December 31, 2018.



	March 31, 2019								December 31, 2018
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Prepaid expenses and other current assets:
Interest rate caps ⁽¹⁾	$	—	$	2.3	$	—	$	2.3	$	—	$	4.5	$	—	$	4.5
Cross-currency swaps ⁽²⁾	—		14.3		—		14.3		—		14.1		—		14.1
Other assets:
Interest rate caps ⁽¹⁾	—		—		—		—		—		1.4		—		1.4
Cross-currency swaps ⁽²⁾	—		0.6		—		0.6		—		—		—		—
Investment in equity securities	0.8		—		—		0.8		0.7		—		—		0.7
Liabilities:
Other accrued liabilities:
Interest rate swaps ⁽¹⁾	—		1.2		—		1.2		—		—		—		—
Other liabilities:
Interest rate caps ⁽¹⁾	—		0.1		—		0.1		—		—		—		—
Interest rate swaps ⁽¹⁾	—		12.8		—		12.8		—		2.9		—		2.9
Cross-currency swaps ⁽²⁾	—		—		—		—		—		8.8		—		8.8
Long-term borrowings:
2024 Dollar Senior Notes	—		502.1		—		502.1		—		474.9		—		474.9
2024 Euro Senior Notes	—		392.9		—		392.9		—		381.1		—		381.1
2025 Euro Senior Notes	—		527.3		—		527.3		—		497.5		—		497.5
2024 Dollar Term Loans	—		2,354.6		—		2,354.6		—		2,276.1		—		2,276.1

(1) Cash flow hedge

(2) Net investment hedge

Derivative Financial Instruments

We selectively use derivative instruments to reduce market risk associated with changes in foreign currency exchange rates and interest rates. The use of derivatives is intended for hedging purposes only, and we do not enter into derivative instruments for speculative purposes. A description of each type of derivative used to manage risk is included in the following paragraphs.

Derivative Instruments Qualifying and Designated as Cash Flow and Net Investment Hedges

Interest Rate Caps Designated as Cash Flow Hedges

During the year ended December 31, 2017, we entered into four 1.5% interest rate caps with aggregate notional amounts totaling $850.0 million to hedge the variable interest rate exposures on our 2024 Dollar Term Loans. Three of these interest rate caps, comprising $600.0 million of the notional value, expire December 31, 2019 and had a deferred premium of $8.6 million at inception. The fourth interest rate cap, comprising the remaining $250.0 million of the notional value, expires December 31, 2021 and had a deferred premium of $8.1 million at inception. All deferred premiums are paid quarterly over the term of the respective interest rate caps. These interest rate caps are marked to market at each reporting date and any unrealized gains or losses are included in accumulated other comprehensive (loss) income ("AOCI") and reclassified to interest expense in the same period or periods during which the hedged transactions affect earnings.

Interest Rate Swaps Designated as Cash Flow Hedges

During the three months ended June 30, 2018, we entered into three interest rate swaps with aggregate notional amounts totaling $475.0 million to hedge interest rate exposures related to variable rate borrowings under the Senior Secured Credit Facilities. Under the terms of the interest rate swap agreements, the Company is required to pay the counter-parties a stream of fixed interest payments at a rate of 2.72% and in turn, receives variable interest payments based on 3-month LIBOR from the counter-parties. The interest rate swaps are designated as cash flow hedges and expire on March 31, 2023. These interest rate swaps are marked to market at each reporting date and any unrealized gains or losses are included in AOCI and reclassified to interest expense in the same period or periods during which the hedged transactions affect earnings.

During the three months ended March 31, 2019, we entered into two interest rate swaps with aggregate notional amounts totaling $500.0 million, effective December 31, 2019, to hedge interest rate exposure associated with the 2024 Dollar Term Loans. Under the terms of the interest rate swap agreements, the Company is required to pay the counter-parties a stream of fixed interest payments at a rate of 2.59% and in turn, receives variable interest payments based on 3-month LIBOR from the counter-parties. The interest rate swaps are designated as cash flow hedges and expire on December 31, 2022. These interest rate swaps are marked to market at each reporting date and any unrealized gains or losses are included in AOCI and reclassified to interest expense in the same period or periods during which the hedged transactions affect earnings.

Cross-Currency Swaps Designated as Net Investment Hedges

During the three months ended June 30, 2018, we entered into three fixed-for-fixed cross-currency swaps with aggregate notional amounts totaling $475.0 million to hedge the variability of exchange rate impacts between the U.S. Dollar and Euro. Under the terms of the cross-currency swap agreements, the Company has notionally exchanged $475.0 million at a weighted average interest rate of 4.47% for €387.2 million at a weighted average interest rate of 1.95%. The cross-currency swaps are designated as net investment hedges and expire on March 31, 2023. These cross-currency swaps are marked to market at each reporting date and any unrealized gains or losses are included in unrealized currency translation adjustments, within AOCI.

During the three months ended December 31, 2018, we settled three fixed-for-fixed cross-currency swaps previously executed in 2018 resulting in cash proceeds of $22.5 million. Concurrently, we notionally exchanged $475.0 million at a weighted average interest rate of 4.47% for €416.6 million at a weighted average interest rate of 1.44%. The cross-currency swaps are designated as net investment hedges and expire on March 31, 2023. These cross-currency swaps are marked to market at each reporting date and any unrealized gains or losses are included in unrealized currency translation adjustments, within AOCI.

The following table presents the location and fair values using Level 2 inputs of derivative instruments that qualify and have been designated as cash flow and net investment hedges included in accumulated other comprehensive (loss) income:



	March 31, 2019			December 31, 2018
Accumulated other comprehensive (loss) income (AOCI):
Interest rate caps (cash flow hedges)	$	0.3		$	(3.4	)
Interest rate swaps (cash flow hedges)	14.0			3.0
Cross-currency swaps (net investment hedges)	(14.9		)	(27.7		)
Total accumulated other comprehensive (loss) income	$	(0.6	)	$	(28.1	)

Gains and losses on the derivative representing hedge components excluded from the assessment of effectiveness are recognized over the life of the hedge on a systematic and rational basis.

The following tables set forth the locations and amounts recognized during the three months ended March 31, 2019 and 2018 for these cash flow and net investment hedges.



		For the Three Months Ended March 31,
		2019						2018
Derivatives in Cash Flow and Net Investment Hedges	Location of (Gain) Loss Recognized in Income on Derivatives	Net Amount of (Gain) Loss Recognized in OCI on Derivatives			Amount of (Gain) Loss Recognized in Income			Net Amount of (Gain) Loss Recognized in OCI on Derivatives			Amount of (Gain) Loss Recognized in Income
Interest rate caps	Interest expense, net	$	2.5		$	(1.1	)	$	(8.0	)	$	0.1
Interest rate swaps	Interest expense, net	11.0			(0.1		)	—			—
Cross-currency swaps	Interest expense, net	(13.3		)	(3.6		)	—			—

Over the next 12 months, we expect gains of $0.6 million pertaining to cash flow hedges to be reclassified from accumulated other comprehensive income into earnings, related to our interest rate caps and interest rate swaps.

Derivative Instruments Not Designated as Cash Flow Hedges

We periodically enter into foreign currency forward and option contracts to reduce market risk and hedge our balance sheet exposures and cash flows for subsidiaries with exposures denominated in currencies different from the functional currency of the relevant subsidiary. These contracts have not been designated as hedges and all gains and losses are marked to market through other income, net in the consolidated statement of operations.

During the year ended December 31, 2017, we purchased a 1.25% interest rate cap with a notional amount of €388.0 million to hedge the variable interest rate exposures on our 2023 Euro Term Loans. We paid a premium equal to $0.6 million for the interest rate cap which is effective through December 31, 2019. Changes in the fair value of the derivative instrument are recorded in current period earnings and are included in interest expense. The fair value of this interest rate cap at March 31, 2019 was zero.

Fair value gains and losses of derivative contracts, as determined using Level 2 inputs, that have not been designated for hedge accounting treatment are recorded in earnings as follows:



		Three Months Ended March 31,
Derivatives Not Designated as Hedging Instruments under ASC 815	Location of (Gain) Loss Recognized in Income on Derivatives	2019		2018
Interest rate caps	Interest expense, net	$	—	$	—
Foreign currency forward contracts	Other income, net	1.5		1.4

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Segments

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Segments

SEGMENTS

The Company identifies an operating segment as a component: (i) that engages in business activities from which it may earn revenues and incur expenses; (ii) whose operating results are regularly reviewed by the Chief Operating Decision Maker ("CODM") to make decisions about resources to be allocated to the segment and assess its performance; and (iii) that has available discrete financial information.

We have two operating segments, which are also our reportable segments: Performance Coatings and Transportation Coatings. The CODM reviews financial information at the operating segment level to allocate resources and to assess the operating results and financial performance for each operating segment. Our CODM is identified as the Chief Executive Officer because he has final authority over performance assessment and resource allocation decisions. Our segments are based on the type and concentration of customers served, service requirements, methods of distribution and major product lines.

Through our Performance Coatings segment, we provide high-quality liquid and powder coatings solutions to a fragmented and local customer base. We are one of only a few suppliers with the technology to provide precise color matching and highly durable coatings systems. The end-markets within this segment are refinish and industrial.

Through our Transportation Coatings segment, we provide advanced coating technologies to OEMs of light and commercial vehicles. These increasingly global customers require a high level of technical support coupled with cost-effective, environmentally responsible coatings systems that can be applied with a high degree of precision, consistency and speed. The end-markets within this segment are light vehicle and commercial vehicle.

During the three months ended March 31, 2019, Axalta transitioned to using Adjusted EBIT as the primary measure to evaluate financial performance of the operating segments and allocate resources. Asset information is not reviewed or included with our internal management reporting. Therefore, the Company has not disclosed asset information for each reportable segment. The following table presents relevant information of our reportable segments.



	Three Months Ended March 31,
	2019			2018
Net sales ⁽¹⁾:
Refinish	$	405.5		$	414.2
Industrial	307.8			316.8
Total Net sales Performance Coatings	713.3			731.0
Light Vehicle	315.9			353.2
Commercial Vehicle	90.1			87.8
Total Net sales Transportation Coatings	406.0			441.0
Total Net sales	1,119.3			1,172.0
Equity in earnings (losses) in unconsolidated affiliates:
Performance Coatings	0.1			0.1
Transportation Coatings	(0.4		)	(0.1		)
Total	$	(0.3	)	$	—
Investment in unconsolidated affiliates:
Performance Coatings	2.5			3.3
Transportation Coatings	12.3			12.7
Total	$	14.8		$	16.0


(1)	The Company has no intercompany sales between segments.

The following table reconciles our segment operating performance to income before income taxes for the periods presented:



	Three Months Ended March 31,
	2019		2018
Segment Adjusted EBIT ⁽¹⁾:
Performance Coatings	$	78.6	$	76.0
Transportation Coatings	34.2		45.0
Total ⁽²⁾	112.8		121.0
Interest expense, net	41.3		39.4
Termination benefits and other employee related costs ^(a)	1.3		(1.3		)
Offering and transactional costs ^(b)	0.6		—
Accelerated depreciation ^(c)	6.1		—
Loss on assets held for sale ^(d)	5.2		—
Change in fair value of equity investments ^(e)	—		0.1
Income before income taxes	$	58.3	$	82.8

(1)

The primary measure of segment operating performance is Adjusted EBIT, which is defined as net income before interest, taxes and select other items impacting operating results. These other items impacting operating results are items that management has concluded are (1) non-cash items included within net income, (2) items the Company does not believe are indicative of ongoing operating performance or (3) non-recurring, unusual or infrequent items that have not occurred within the last two years or we believe are not reasonably likely to recur within the next two years. Adjusted EBIT is a key metric that is used by management to evaluate business performance in comparison to budgets, forecasts and prior year financial results, providing a measure that management believes reflects the Company’s core operating performance, which represents Adjusted EBIT adjusted for the select items referred to above.


(2)	Does not represent Axalta’s Adjusted EBIT referenced elsewhere by the Company.



(a)	Represents expenses and associated changes to estimates related to employee termination benefits and other employee-related costs. Employee termination benefits are associated with Axalta Way initiatives. These amounts are not considered indicative of our ongoing operating performance.

(b)	Represents acquisition and divestiture-related expenses, all of which are not considered indicative of our ongoing operating performance.

(c)	Represents incremental depreciation expense resulting from truncated useful lives of the assets impacted by our manufacturing footprint assessments, which we do not consider indicative of our ongoing operating performance.

(d)	Represents the loss recognized on the anticipated sale of our interest in a joint venture business determined to be held for sale, which is not considered indicative of our ongoing operating performance.

(e)	Represents mark to market impacts of our equity investments, which we do not consider to be indicative of our ongoing operating performance.

Shareholders' Equity

3 Months Ended

Mar. 31, 2019

Equity [Abstract]

Shareholders' Equity

SHAREHOLDERS' EQUITY

The following tables present the change in total shareholders’ equity for the three months ended March 31, 2019 and 2018, respectively.



	Total Axalta			Noncontrolling Interests			Total
Balance at December 31, 2018	$	1,205.1		$	105.4		$	1,310.5
Cumulative effect of an accounting change	(0.7		)	—			(0.7		)
Balance at January 1, 2019	$	1,204.4		$	105.4		$	1,309.8
Net income	43.4			0.7			44.1
Other comprehensive loss, net of tax	0.4			0.5			0.9
Recognition of stock-based compensation	6.7			—			6.7
Exercise of stock options	11.4			—			11.4
Treasury share repurchases	(65.8		)	—			(65.8		)
Non-controlling interests of acquired subsidiaries	5.7			(32.1		)	(26.4		)
Dividends paid to noncontrolling interests	—			(1.1		)	(1.1		)
Balance at March 31, 2019	$	1,206.2		$	73.4		$	1,279.6



	Total Axalta			Noncontrolling Interests			Total
Balance at December 31, 2017	$	1,276.1		$	131.7		$	1,407.8
Cumulative effect of an accounting change	12.1			0.1			12.2
Balance at January 1, 2018	$	1,288.2		$	131.8		$	1,420.0
Net income	69.9			1.1			71.0
Other comprehensive income, net of tax	49.1			0.9			50.0
Recognition of stock-based compensation	8.4			—			8.4
Exercise of stock options	6.2			—			6.2
Treasury share repurchases	(3.3		)	—			(3.3		)
Noncontrolling interests of acquired subsidiaries	2.9			(29.8		)	(26.9		)
Dividends paid to noncontrolling interests	—			(1.0		)	(1.0		)
Balance at March 31, 2018	$	1,421.4		$	103.0		$	1,524.4

Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2019

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

ACCUMULATED OTHER COMPREHENSIVE LOSS



	Unrealized Currency Translation Adjustments			Pension Adjustments			Unrealized Gain (Loss) on Derivatives			Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2018	$	(299.4	)	$	(36.4	)	$	(0.3	)	$	(336.1	)
Current year deferrals to AOCI	12.8			—			(11.4		)	1.4
Reclassifications from AOCI to Net income	—			—			(1.0		)	(1.0		)
Net Change	12.8			—			(12.4		)	0.4
Balance at March 31, 2019	$	(286.6	)	$	(36.4	)	$	(12.7	)	$	(335.7	)

The income tax provision related to the changes in pension benefits for the three months ended March 31, 2019 was $0.5 million. The cumulative income tax benefit related to the adjustments for pension benefits at March 31, 2019 was $13.9 million. The income tax benefit related to the change in the unrealized loss on derivatives for the three months ended March 31, 2019 was $2.2 million. The cumulative income tax benefit related to the adjustments for unrealized loss on derivatives at March 31, 2019 was $1.7 million.



	Unrealized Currency Translation Adjustments			Pension Adjustments			Unrealized Gain (Loss) on Securities			Unrealized Gain (Loss) on Derivatives			Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2017	$	(208.8	)	$	(31.4	)	$	0.8		$	(1.6	)	$	(241.0	)
Cumulative effect of an accounting change	—			—			(0.8		)	—			(0.8		)
Balance at January 1, 2018	(208.8		)	(31.4		)	—			(1.6		)	(241.8		)
Current year deferrals to AOCI	42.2			—			—			6.4			48.6
Reclassifications from AOCI to Net income	—			0.6			—			(0.1		)	0.5
Net Change	42.2			0.6			—			6.3			49.1
Balance at March 31, 2018	$	(166.6	)	$	(30.8	)	$	—		$	4.7		$	(192.7	)

The income tax benefit related to the changes in pension benefits for the three months ended March 31, 2018 was $0.3 million. The cumulative income tax benefit related to the adjustments for pension benefits at March 31, 2018 was $13.3 million. The income tax expense related to the change in the unrealized loss on derivatives for the three months ended March 31, 2018 was $1.6 million. The cumulative income tax expense related to the adjustments for unrealized loss on derivatives at March 31, 2018 was $1.0 million.

Basis of Presentation and Summary of Significant Accounting Policies Recent Accounting Guidance (Policies)

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

Of the accounting standards we have adopted in 2019, the below standard did not have a material impact:



ASU		Effective Date
2018-16	Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes	January 1, 2019

Basis of Presentation and Summary of Significant Accounting Policies Recent Accounting Guidance (Tables)

3 Months Ended

Mar. 31, 2019

Error Corrections and Prior Period Adjustments Restatement [Line Items]

Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]

This revision has no impacts on the consolidated or condensed statements of operations or balance sheets.



	Three months ended March 31, 2018
	As Reported			Revised
Cash used for investing activities	$	(144.6	)	$	(117.7	)
Cash used for financing activities	$	(14.3	)	$	(41.2	)

Acquisitions and Divestitures (Tables)

3 Months Ended

Mar. 31, 2019

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Disposal Groups, Including Discontinued Operations [Table Text Block]

The carrying amounts of the major classes of assets and liabilities that were classified as held for sale at March 31, 2019, within prepaid and other current assets and other accrued liabilities, respectively, as follows:



	March 31, 2019
Assets
Cash and cash equivalents	$	7.3
Restricted cash	7.5
Accounts and notes receivable, net	30.4
Inventories	7.3
Property, plant and equipment, net	8.4
Goodwill	5.6
Identifiable intangibles, net	1.8
Other assets	5.2
Loss on assets held for sale	(5.2		)
Assets held for sale	$	68.3
Liabilities
Accounts payable	16.5
Other accrued liabilities	6.5
Other liabilities	4.4
Liabilities held for sale	$	27.4

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

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+ Details

Goodwill and Identifiable Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table shows changes in the carrying amount of goodwill from December 31, 2018 to March 31, 2019 by reportable segment:



	Performance Coatings			Transportation Coatings			Total
December 31, 2018	$	1,151.5		$	79.3		$	1,230.8
Purchase accounting adjustments	0.7			—			0.7
Held for sale adjustment	(5.6		)	—			(5.6		)
Foreign currency translation	(9.1		)	(0.7		)	(9.8		)
March 31, 2019	$	1,137.5		$	78.6		$	1,216.1

Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class

The following tables summarize the gross carrying amounts and accumulated amortization of identifiable intangible assets by major class:



March 31, 2019	Gross Carrying Amount		Accumulated Amortization			Net Book Value		Weighted average amortization periods (years)
Technology	$	541.5	$	(271.4	)	$	270.1	10.4
Trademarks - indefinite-lived	265.8		—			265.8		Indefinite
Trademarks - definite-lived	100.2		(25.5		)	74.7		15.8
Customer relationships	924.4		(233.8		)	690.6		19.1
Other	15.7		(6.1		)	9.6		5.1
Total	$	1,847.6	$	(536.8	)	$	1,310.8



December 31, 2018	Gross Carrying Amount		Accumulated Amortization			Net Book Value		Weighted average amortization periods (years)
Technology	$	545.7	$	(260.7	)	$	285.0	10.4
Trademarks—indefinite-lived	269.0		—			269.0		Indefinite
Trademarks—definite-lived	100.6		(24.0		)	76.6		15.8
Customer relationships	929.9		(222.9		)	707.0		19.1
Other	15.7		(5.3		)	10.4		5.1
Total	$	1,860.9	$	(512.9	)	$	1,348.0

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The estimated amortization expense related to the fair value of acquired intangible assets for the remainder of 2019 and each of the succeeding five years is:



Remainder of 2019	$	87.5
2020	113.5
2021	112.9
2022	110.7
2023	71.5
2024	66.6

Restructuring (Tables)

3 Months Ended

Mar. 31, 2019

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

The following table summarizes the activities related to the restructuring reserves and expenses from December 31, 2018 to March 31, 2019:



	2019 Activity
Balance at December 31, 2018	$	102.7
Expenses, net of changes to estimates	1.3
Payments made	(14.0		)
Foreign currency translation	(1.5		)
Balance at March 31, 2019	$	88.5

Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Assets And Liabilities, Lessee

Supplemental balance sheet information related to leases is summarized as follows:



		March 31, 2019
Assets	Classification
Operating lease assets	Other assets ⁽¹⁾	$	95.5
Finance lease assets	Property, plant and equipment, net ⁽²⁾	70.3
Total leased assets		$	165.8
Liabilities
Current
Operating	Other accrued liabilities	$	28.1
Finance	Current portion of borrowings	2.9
Noncurrent
Operating	Other liabilities	71.8
Finance	Long-term borrowings	64.0
Total lease liabilities		$	166.8

⁽¹⁾Operating lease assets are recorded net of accumulated amortization of $5.0 million as of March 31, 2019.

⁽²⁾Finance lease assets are recorded net of accumulated amortization of $1.4 million as of March 31, 2019.

Lease, Cost

Components of lease expense are summarized as follows:



	Three months ended March 31
	2019
Finance lease cost
Amortization of right-of-use assets	$	1.0
Interest on lease liabilities	0.9
Operating lease cost	8.9
Variable lease cost	0.8
Short-term lease cost	0.3
Net lease cost	$	11.9

Supplemental cash flow information related to leases is summarized as follows:



	Three months ended March 31
	2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	9.1
Operating cash flows from finance leases	$	0.9
Financing cash flows from finance leases	$	1.2
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	5.9
Finance leases	$	—

Schedule of Lease Terms

Lease term and discount rate information is summarized as follows:



	March 31, 2019
Weighted-average remaining lease term (years)
Operating leases	5.5
Finance leases	17.7
Weighted-average discount rate
Operating leases	3.6	%
Finance leases	5.3	%

Lessee, Operating Lease, Liability, Maturity

Maturities of lease liabilities as of March 31, 2019 is as follows:



	Operating Leases		Finance Leases
Year
Remainder of 2019	$	23.8	$	3.4
2020	25.9		5.5
2021	19.2		5.6
2022	13.0		5.7
2023	10.9		5.8
Thereafter	22.0		79.3
Total lease payments	$	114.8	$	105.3
Less: imputed interest	14.9		38.4
Present value of lease liabilities	$	99.9	$	66.9

Finance Lease, Liability, Maturity

Maturities of lease liabilities as of March 31, 2019 is as follows:



	Operating Leases		Finance Leases
Year
Remainder of 2019	$	23.8	$	3.4
2020	25.9		5.5
2021	19.2		5.6
2022	13.0		5.7
2023	10.9		5.8
Thereafter	22.0		79.3
Total lease payments	$	114.8	$	105.3
Less: imputed interest	14.9		38.4
Present value of lease liabilities	$	99.9	$	66.9

Sale Leaseback Transactions

For comparability purposes, the following table reflects the total remaining cash payments related to all transactions during the rental term at December 31, 2018 associated with three lease arrangements that were treated as sale-leaseback financing transactions under ASC 840 and disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2018:



	Sale-leaseback obligations
2019	$	5.3
2020	5.4
2021	5.4
2022	5.7
2023	5.7
Thereafter	77.1
Total minimum payments	$	104.6

Schedule of Future Minimum Rental Payments for Operating Leases

At December 31, 2018, future minimum payments under non-cancelable operating leases under ASC 840 were as follows:



	Operating Leases
2019	$	34.6
2020	23.5
2021	17.1
2022	13.2
2023	11.5
Thereafter	16.6
Total minimum payments	$	116.5

Long-term Employee Benefits (Tables)

3 Months Ended

Mar. 31, 2019

Retirement Benefits [Abstract]

Schedule of Net Benefit Costs

The following table sets forth the components of net periodic benefit cost for the three months ended March 31, 2019 and 2018:



	Three Months Ended March 31,
	2019			2018
Components of net periodic benefit cost:
Net periodic benefit cost:
Service cost	$	1.9		$	2.3
Interest cost	3.2			3.4
Expected return on plan assets	(3.5		)	(4.2		)
Amortization of actuarial loss, net	0.5			0.3
Net periodic benefit cost	$	2.1		$	1.8

Stock-based Compensation (Tables)

3 Months Ended

Mar. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Stock Options Roll Forward

A summary of award activity by type for the three months ended March 31, 2019 is presented below.



Stock Options	Awards/Units (in millions)		Weighted- Average Exercise Price		Aggregate Intrinsic Value (in millions)		Weighted Average Remaining Contractual Life (years)
Outstanding at January 1, 2019	7.2		$	19.32
Granted	0.8		27.01
Exercised	(1.2	)	10.04
Forfeited	(0.1	)	28.52
Outstanding at March 31, 2019	6.7		$	21.64
Vested and expected to vest at March 31, 2019	6.7		$	21.64	$	38.9	6.08
Exercisable at March 31, 2019	5.2		$	19.72	$	38.9	5.17

Schedule of Restricted Stock Units and Restricted Stock Awards Roll Forward



Restricted Stock Awards and Restricted Stock Units	Awards (millions)		Weighted-Average Fair Value
Outstanding at January 1, 2019	1.6		$	29.12
Granted	0.6		27.01
Vested	(0.6	)	27.99
Forfeited	—		26.89
Outstanding at March 31, 2019	1.6		$	28.76

Schedule of Performance Stock Roll Forward



Performance Stock Awards and Performance Share Units	Awards (millions)		Weighted-Average Fair Value
Outstanding at January 1, 2019	0.8		$	31.82
Granted	0.3		29.28
Vested	—		—
Forfeited	(0.3	)	25.66
Outstanding at March 31, 2019	0.8		$	33.47

Other Income, Net (Tables)

3 Months Ended

Mar. 31, 2019

Other Income and Expenses [Abstract]

Schedule of Other Nonoperating Income (Expense)



	Three Months Ended March 31,
	2019			2018
Foreign exchange losses, net	$	2.4		$	—
Other miscellaneous income, net	(3.4		)	(2.2		)
Total	$	(1.0	)	$	(2.2	)

Income Taxes (Tables)

3 Months Ended

Mar. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

Our effective income tax rates for the three months ended March 31, 2019 and 2018 are as follows:

Earnings (Loss) Per Common Share (Tables)

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

A reconciliation of our basic and diluted earnings per common share is as follows:



	Three Months Ended March 31,
(In millions, except per share data)	2019		2018
Net income to common shareholders	$	43.4	$	69.9
Basic weighted average shares outstanding	234.1		240.9
Diluted weighted average shares outstanding	236.6		245.8
Earnings per common share:
Basic earnings per share	$	0.19	$	0.29
Diluted earnings per share	$	0.18	$	0.28

Accounts and Notes Receivable, Net (Tables)

3 Months Ended

Mar. 31, 2019

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable



	March 31, 2019		December 31, 2018
Accounts receivable - trade, net ⁽¹⁾	$	809.9	$	739.9
Notes receivable	26.2		36.1
Other	84.4		84.8
Total	$	920.5	$	860.8

Inventories (Tables)

3 Months Ended

Mar. 31, 2019

Inventory Disclosure [Abstract]

Schedule of Inventory, Current



	March 31, 2019		December 31, 2018
Finished products	$	349.3	$	334.0
Semi-finished products	110.0		108.0
Raw materials	146.4		149.9
Stores and supplies	21.1		21.1
Total	$	626.8	$	613.0

Property, Plant and Equipment, Net (Tables)

3 Months Ended

Mar. 31, 2019

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment



	March 31, 2019			December 31, 2018
Property, plant and equipment	$	2,224.8		$	2,218.8
Accumulated depreciation	(950.4		)	(920.6		)
Property, plant, and equipment, net	$	1,274.4		$	1,298.2

Borrowings (Tables)

3 Months Ended

Mar. 31, 2019

Debt Instrument [Line Items]

Schedule of Debt

Borrowings are summarized as follows:



	March 31, 2019			December 31, 2018
2024 Dollar Term Loans	$	2,405.7		$	2,411.8
2024 Dollar Senior Notes	500.0			500.0
2024 Euro Senior Notes	376.9			383.3
2025 Euro Senior Notes	506.3			514.9
Short-term and other borrowings	111.4			103.8
Unamortized original issue discount	(12.1		)	(12.6		)
Unamortized deferred financing costs	(35.7		)	(37.2		)
	$	3,852.5		$	3,864.0
Less:
Short-term borrowings	$	19.2		$	17.9
Current portion of long-term borrowings	24.3			24.3
Long-term debt	$	3,809.0		$	3,821.8

Schedule of Maturities of Long-term Debt

Below is a schedule of required future repayments of all borrowings outstanding at March 31, 2019.



Remainder of 2019	$	35.8
2020	26.9
2021	26.8
2022	54.3
2023	27.1
Thereafter	3,729.4
	$	3,900.3

2024 Dollar Senior Notes [Member]

Debt Instrument [Line Items]

Debt Instrument Redemption

We have the option to redeem all or part of the 2024 Dollar Senior Notes at the following redemption prices (expressed as percentages of principal amount) on or after August 15 of the years indicated:



Period	2024 Dollar Senior Notes Percentage
2019	103.656	%
2020	102.438	%
2021	101.219	%
2022 and thereafter	100.000	%

2024 Euro Senior Notes [Member]

Debt Instrument [Line Items]

Debt Instrument Redemption

We have the option to redeem all or part of the 2024 Euro Senior Notes at the following redemption prices (expressed as percentages of principal amount) on or after August 15 of the years indicated:



Period	2024 Euro Senior Notes Percentage
2019	103.188	%
2020	102.125	%
2021	101.063	%
2022 and thereafter	100.000	%

2025 Euro Senior Notes [Member]

Debt Instrument [Line Items]

Debt Instrument Redemption

We have the option to redeem all or part of the 2025 Euro Senior Notes at the following redemption prices (expressed as percentages of principal amount) on or after January 15 of the years indicated:



Period	2025 Euro Senior Notes Percentage
2019	102.813	%
2020	101.875	%
2021	100.938	%
2022 and thereafter	100.000	%

Financial Instruments, Hedging Activities and Fair Value Measurements Financial Instruments, Hedging Activities and Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The table below presents the fair values of our financial instruments measured on a recurring basis by level within the fair value hierarchy at March 31, 2019 and December 31, 2018.



	March 31, 2019								December 31, 2018
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Prepaid expenses and other current assets:
Interest rate caps ⁽¹⁾	$	—	$	2.3	$	—	$	2.3	$	—	$	4.5	$	—	$	4.5
Cross-currency swaps ⁽²⁾	—		14.3		—		14.3		—		14.1		—		14.1
Other assets:
Interest rate caps ⁽¹⁾	—		—		—		—		—		1.4		—		1.4
Cross-currency swaps ⁽²⁾	—		0.6		—		0.6		—		—		—		—
Investment in equity securities	0.8		—		—		0.8		0.7		—		—		0.7
Liabilities:
Other accrued liabilities:
Interest rate swaps ⁽¹⁾	—		1.2		—		1.2		—		—		—		—
Other liabilities:
Interest rate caps ⁽¹⁾	—		0.1		—		0.1		—		—		—		—
Interest rate swaps ⁽¹⁾	—		12.8		—		12.8		—		2.9		—		2.9
Cross-currency swaps ⁽²⁾	—		—		—		—		—		8.8		—		8.8
Long-term borrowings:
2024 Dollar Senior Notes	—		502.1		—		502.1		—		474.9		—		474.9
2024 Euro Senior Notes	—		392.9		—		392.9		—		381.1		—		381.1
2025 Euro Senior Notes	—		527.3		—		527.3		—		497.5		—		497.5
2024 Dollar Term Loans	—		2,354.6		—		2,354.6		—		2,276.1		—		2,276.1

(1) Cash flow hedge

(2) Net investment hedge

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The following table presents the location and fair values using Level 2 inputs of derivative instruments that qualify and have been designated as cash flow and net investment hedges included in accumulated other comprehensive (loss) income:



	March 31, 2019			December 31, 2018
Accumulated other comprehensive (loss) income (AOCI):
Interest rate caps (cash flow hedges)	$	0.3		$	(3.4	)
Interest rate swaps (cash flow hedges)	14.0			3.0
Cross-currency swaps (net investment hedges)	(14.9		)	(27.7		)
Total accumulated other comprehensive (loss) income	$	(0.6	)	$	(28.1	)

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]

The following tables set forth the locations and amounts recognized during the three months ended March 31, 2019 and 2018 for these cash flow and net investment hedges.



		For the Three Months Ended March 31,
		2019						2018
Derivatives in Cash Flow and Net Investment Hedges	Location of (Gain) Loss Recognized in Income on Derivatives	Net Amount of (Gain) Loss Recognized in OCI on Derivatives			Amount of (Gain) Loss Recognized in Income			Net Amount of (Gain) Loss Recognized in OCI on Derivatives			Amount of (Gain) Loss Recognized in Income
Interest rate caps	Interest expense, net	$	2.5		$	(1.1	)	$	(8.0	)	$	0.1
Interest rate swaps	Interest expense, net	11.0			(0.1		)	—			—
Cross-currency swaps	Interest expense, net	(13.3		)	(3.6		)	—			—

Derivatives Not Designated as Hedging Instruments [Table Text Block]

Fair value gains and losses of derivative contracts, as determined using Level 2 inputs, that have not been designated for hedge accounting treatment are recorded in earnings as follows:



		Three Months Ended March 31,
Derivatives Not Designated as Hedging Instruments under ASC 815	Location of (Gain) Loss Recognized in Income on Derivatives	2019		2018
Interest rate caps	Interest expense, net	$	—	$	—
Foreign currency forward contracts	Other income, net	1.5		1.4

Segments (Tables)

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table presents relevant information of our reportable segments.



	Three Months Ended March 31,
	2019			2018
Net sales ⁽¹⁾:
Refinish	$	405.5		$	414.2
Industrial	307.8			316.8
Total Net sales Performance Coatings	713.3			731.0
Light Vehicle	315.9			353.2
Commercial Vehicle	90.1			87.8
Total Net sales Transportation Coatings	406.0			441.0
Total Net sales	1,119.3			1,172.0
Equity in earnings (losses) in unconsolidated affiliates:
Performance Coatings	0.1			0.1
Transportation Coatings	(0.4		)	(0.1		)
Total	$	(0.3	)	$	—
Investment in unconsolidated affiliates:
Performance Coatings	2.5			3.3
Transportation Coatings	12.3			12.7
Total	$	14.8		$	16.0

(1)

The Company has no intercompany sales between segments.

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following table reconciles our segment operating performance to income before income taxes for the periods presented:



	Three Months Ended March 31,
	2019		2018
Segment Adjusted EBIT ⁽¹⁾:
Performance Coatings	$	78.6	$	76.0
Transportation Coatings	34.2		45.0
Total ⁽²⁾	112.8		121.0
Interest expense, net	41.3		39.4
Termination benefits and other employee related costs ^(a)	1.3		(1.3		)
Offering and transactional costs ^(b)	0.6		—
Accelerated depreciation ^(c)	6.1		—
Loss on assets held for sale ^(d)	5.2		—
Change in fair value of equity investments ^(e)	—		0.1
Income before income taxes	$	58.3	$	82.8

(1)

The primary measure of segment operating performance is Adjusted EBIT, which is defined as net income before interest, taxes and select other items impacting operating results. These other items impacting operating results are items that management has concluded are (1) non-cash items included within net income, (2) items the Company does not believe are indicative of ongoing operating performance or (3) non-recurring, unusual or infrequent items that have not occurred within the last two years or we believe are not reasonably likely to recur within the next two years. Adjusted EBIT is a key metric that is used by management to evaluate business performance in comparison to budgets, forecasts and prior year financial results, providing a measure that management believes reflects the Company’s core operating performance, which represents Adjusted EBIT adjusted for the select items referred to above.


(2)	Does not represent Axalta’s Adjusted EBIT referenced elsewhere by the Company.



(a)	Represents expenses and associated changes to estimates related to employee termination benefits and other employee-related costs. Employee termination benefits are associated with Axalta Way initiatives. These amounts are not considered indicative of our ongoing operating performance.

(b)	Represents acquisition and divestiture-related expenses, all of which are not considered indicative of our ongoing operating performance.

(c)	Represents incremental depreciation expense resulting from truncated useful lives of the assets impacted by our manufacturing footprint assessments, which we do not consider indicative of our ongoing operating performance.

(d)	Represents the loss recognized on the anticipated sale of our interest in a joint venture business determined to be held for sale, which is not considered indicative of our ongoing operating performance.

(e)	Represents mark to market impacts of our equity investments, which we do not consider to be indicative of our ongoing operating performance.

Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2019

Equity [Abstract]

Schedule of Stockholders Equity

The following tables present the change in total shareholders’ equity for the three months ended March 31, 2019 and 2018, respectively.



	Total Axalta			Noncontrolling Interests			Total
Balance at December 31, 2018	$	1,205.1		$	105.4		$	1,310.5
Cumulative effect of an accounting change	(0.7		)	—			(0.7		)
Balance at January 1, 2019	$	1,204.4		$	105.4		$	1,309.8
Net income	43.4			0.7			44.1
Other comprehensive loss, net of tax	0.4			0.5			0.9
Recognition of stock-based compensation	6.7			—			6.7
Exercise of stock options	11.4			—			11.4
Treasury share repurchases	(65.8		)	—			(65.8		)
Non-controlling interests of acquired subsidiaries	5.7			(32.1		)	(26.4		)
Dividends paid to noncontrolling interests	—			(1.1		)	(1.1		)
Balance at March 31, 2019	$	1,206.2		$	73.4		$	1,279.6



	Total Axalta			Noncontrolling Interests			Total
Balance at December 31, 2017	$	1,276.1		$	131.7		$	1,407.8
Cumulative effect of an accounting change	12.1			0.1			12.2
Balance at January 1, 2018	$	1,288.2		$	131.8		$	1,420.0
Net income	69.9			1.1			71.0
Other comprehensive income, net of tax	49.1			0.9			50.0
Recognition of stock-based compensation	8.4			—			8.4
Exercise of stock options	6.2			—			6.2
Treasury share repurchases	(3.3		)	—			(3.3		)
Noncontrolling interests of acquired subsidiaries	2.9			(29.8		)	(26.9		)
Dividends paid to noncontrolling interests	—			(1.0		)	(1.0		)
Balance at March 31, 2018	$	1,421.4		$	103.0		$	1,524.4

Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2019

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income



	Unrealized Currency Translation Adjustments			Pension Adjustments			Unrealized Gain (Loss) on Derivatives			Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2018	$	(299.4	)	$	(36.4	)	$	(0.3	)	$	(336.1	)
Current year deferrals to AOCI	12.8			—			(11.4		)	1.4
Reclassifications from AOCI to Net income	—			—			(1.0		)	(1.0		)
Net Change	12.8			—			(12.4		)	0.4
Balance at March 31, 2019	$	(286.6	)	$	(36.4	)	$	(12.7	)	$	(335.7	)



	Unrealized Currency Translation Adjustments			Pension Adjustments			Unrealized Gain (Loss) on Securities			Unrealized Gain (Loss) on Derivatives			Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2017	$	(208.8	)	$	(31.4	)	$	0.8		$	(1.6	)	$	(241.0	)
Cumulative effect of an accounting change	—			—			(0.8		)	—			(0.8		)
Balance at January 1, 2018	(208.8		)	(31.4		)	—			(1.6		)	(241.8		)
Current year deferrals to AOCI	42.2			—			—			6.4			48.6
Reclassifications from AOCI to Net income	—			0.6			—			(0.1		)	0.5
Net Change	42.2			0.6			—			6.3			49.1
Balance at March 31, 2018	$	(166.6	)	$	(30.8	)	$	—		$	4.7		$	(192.7	)

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Jan. 01, 2019	Jan. 01, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Payments to Noncontrolling Interests	$ 26.9	$ 26.9
Cumulative effect of an accounting change			$ (0.7)	$ 12.2
Parent [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of an accounting change			$ (0.7)	$ 12.1

Basis of Presentation and Summary of Significant Accounting Policies - Correction of Immaterial Errors (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cash used for investing activities	$ (18.8)	$ (117.7)
Cash used for financing activities	$ (101.8)	(41.2)
Previously Reported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cash used for investing activities		(144.6)
Cash used for financing activities		$ (14.3)

Revenue - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Contract with customer, asset	$ 45.2		$ 47.2
Capitalized contract cost, net	190.5		190.8
Capitalized contract cost, amortization	17.1	$ 16.3
Upfront Incentive Payments	$ 81.9		$ 56.0

Acquisitions and Divestitures - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Increase (Decrease) in Assets Held-for-sale	$ (5.2)	$ 0.0
Percentage of voting interests acquired	24.50%
Payments to acquire other investments	$ 26.9
Ownership percentage by parent	100.00%
Asia Pacific [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percent of joint venture sold	60.00%

Acquisitions and Divestitures - Assets and Liabilities Classified as Held for Sale (Details) - China Powder JV Held for Sale Disposal Group [Domain] $ in Millions	Mar. 31, 2019 USD ($)
Assets
Cash and cash equivalents	$ 7.3
Restricted cash	7.5
Accounts and notes receivable, net	30.4
Inventories	7.3
Property, plant and equipment, net	8.4
Goodwill	5.6
Identifiable intangibles, net	1.8
Other assets	5.2
Loss on assets held for sale	(5.2)
Assets held for sale	68.3
Liabilities
Accounts payable	16.5
Other accrued liabilities	6.5
Other liabilities	4.4
Liabilities held for sale	$ 27.4

Goodwill and Identifiable Intangible Assets - Schedule of Goodwill (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 1,230.8
Purchase Accounting Adjustments	0.7
Goodwill, Held for Sale Adjustment	(5.6)
Foreign currency translation	(9.8)
Goodwill, ending balance	1,216.1
Performance Coatings [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	1,151.5
Purchase Accounting Adjustments	0.7
Goodwill, Held for Sale Adjustment	(5.6)
Foreign currency translation	(9.1)
Goodwill, ending balance	1,137.5
Transportation Coatings [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	79.3
Purchase Accounting Adjustments	0.0
Goodwill, Held for Sale Adjustment	0.0
Foreign currency translation	(0.7)
Goodwill, ending balance	$ 78.6

Goodwill and Identifiable Intangible Assets - Gross Carrying Amounts and Accumulated Amortization of Identifiable Intangible Assets by Major Class (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	$ 1,847.6	$ 1,860.9
Accumulated Amortization	(536.8)	(512.9)
Net Book Value, definite-lived	1,310.8	1,348.0
Trademarks [Member]
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Net Book Value, indefinite-lived	265.8	269.0
Technology-Based Intangible Assets [Member]
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	541.5	545.7
Accumulated Amortization	(271.4)	(260.7)
Net Book Value, definite-lived	$ 270.1	$ 285.0
Weighted average amortization periods (years)	10 years 4 months 24 days	10 years 4 months 24 days
Trademarks [Member]
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	$ 100.2	$ 100.6
Accumulated Amortization	(25.5)	(24.0)
Net Book Value, definite-lived	$ 74.7	$ 76.6
Weighted average amortization periods (years)	15 years 9 months 18 days	15 years 9 months 18 days
Customer Relationships [Member]
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	$ 924.4	$ 929.9
Accumulated Amortization	(233.8)	(222.9)
Net Book Value, definite-lived	$ 690.6	$ 707.0
Weighted average amortization periods (years)	19 years 1 month 6 days	19 years 1 month 6 days
Other Intangible Assets [Member]
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	$ 15.7	$ 15.7
Accumulated Amortization	(6.1)	(5.3)
Net Book Value, definite-lived	$ 9.6	$ 10.4
Weighted average amortization periods (years)	5 years 1 month 6 days	5 years 1 month 6 days

Goodwill and Identifiable Intangible Assets - Schedule of Expected Amortization Expense (Details) $ in Millions	Mar. 31, 2019 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2019	$ 87.5
2020	113.5
2021	112.9
2022	110.7
2023	71.5
2024	$ 66.6

Restructuring - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Restructuring Cost and Reserve [Line Items]
Accelerated depreciation	$ 6.1	$ 0.0
Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Payment term (in months)	12 months
Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Payment term (in months)	24 months

Restructuring - Restructuring Reserve (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 102.7
Expenses, net of changes to estimates	1.3
Payments made	(14.0)
Foreign currency translation	(1.5)
Ending balance	$ 88.5

Commitments and Contingencies - Additional Information (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Maximum exposure	$ 12,100,000	$ 12,700,000
Current carrying value	$ 0	$ 0

Leases - Supplemental Balance Sheet (Details) $ in Millions	Mar. 31, 2019 USD ($)
Leases [Abstract]
Operating lease assets	$ 95.5
Finance lease assets	70.3
Total leased assets	165.8
Operating	28.1
Finance	2.9
Operating	71.8
Finance	64.0
Total lease liabilities	166.8
Operating lease, accumulated amortization	5.0
Finance lease, accumulated amortization	$ 1.4

Leases - Lease Expense (Details) $ in Millions	3 Months Ended
Leases - Lease Expense (Details) $ in Millions	Mar. 31, 2019 USD ($)
Leases [Abstract]
Amortization of right-of-use assets	$ 1.0
Interest on lease liabilities	0.9
Operating lease cost	8.9
Variable lease cost	0.8
Short-term lease cost	0.3
Net lease cost	$ 11.9

Leases - Supplemental Cash Flow Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($)
Leases [Abstract]
Operating cash flows from operating leases	$ 9.1
Operating cash flows from finance leases	0.9
Financing cash flows from finance leases	1.2
Operating leases	5.9
Finance leases	$ 0.0

Leases - Lease Information (Details)	Mar. 31, 2019
Leases [Abstract]
Weighted-average remaining lease term, Operating leases	5 years 6 months
Weighted-average remaining lease term, Finance leases	17 years 8 months 12 days
Weighted-average discount rate, Operating leases	3.60%
Weighted-average discount rate, Finance leases	5.30%

Leases - Maturities of Lease Liabilities (Details) $ in Millions	Mar. 31, 2019 USD ($)
Operating Leases
Remainder of 2019	$ 23.8
2020	25.9
2021	19.2
2022	13.0
2023	10.9
Thereafter	22.0
Total lease payments	114.8
Less: imputed interest	14.9
Present value of lease liabilities	99.9
Finance Leases
Remainder of 2019	3.4
2020	5.5
2021	5.6
2022	5.7
2023	5.8
Thereafter	79.3
Total lease payments	105.3
Less: imputed interest	38.4
Present value of lease liabilities	$ 66.9

Leases - Sale-leaseback Obligations (Details) $ in Millions	Dec. 31, 2018 USD ($)
Leases [Abstract]
2019	$ 5.3
2020	5.4
2021	5.4
2022	5.7
2023	5.7
Thereafter	77.1
Total minimum payments	$ 104.6

Leases - Operating Lease Maturity ASC 840 (Details) $ in Millions	Dec. 31, 2018 USD ($)
Leases [Abstract]
2019	$ 34.6
2020	23.5
2021	17.1
2022	13.2
2023	11.5
Thereafter	16.6
Total minimum payments	$ 116.5

Long-term Employee Benefits - Schedule of Net Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net periodic benefit cost:
Service cost	$ 1.9	$ 2.3
Interest cost	3.2	3.4
Expected return on plan assets	(3.5)	(4.2)
Amortization of actuarial loss, net	0.5	0.3
Net periodic benefit (gain) cost	$ 2.1	$ 1.8

Stock-based Compensation - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 6.7	$ 8.4
Tax benefit from compensation expense	1.3	1.5
Proceeds from stock options exercised	11.4	$ 6.2
Tax benefit realized from exercise of stock options	3.7
Unrecognized compensation cost	7.6
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from stock options exercised	$ 11.4
Period for recognition of compensation not yet recognized	1 year 8 months 12 days
Restricted Stock and Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period for recognition of compensation not yet recognized	1 year 8 months 12 days
Tax benefit realized on the vesting of restricted stock	$ 0.1
Compensation not yet recognized, share-based awards other than options	$ 29.5
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period for recognition of compensation not yet recognized	2 years 2 months 12 days
Compensation not yet recognized, share-based awards other than options	$ 16.5

Stock-based Compensation - Schedule of Stock Option Activity (Details) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($) $ / shares shares
Awards (in millions)
Beginning Balance \| shares	7.2
Grants in period \| shares	0.8
Exercises in period \| shares	(1.2)
Forfeitures in period \| shares	(0.1)
Ending Balance \| shares	6.7
Weighted Average Exercise Price (usd per share)
Beginning Balance \| $ / shares	$ 19.32
Grants in period (usd per share) \| $ / shares	27.01
Exercised (usd per share) \| $ / shares	10.04
Forfeited (usd per share) \| $ / shares	28.52
Ending Balance \| $ / shares	$ 21.64
Vested and Expected to Vest
Vested and expected to vest, in shares \| shares	6.7
Vested and expected to vest, weighted average exercise price (usd) \| $ / shares	$ 21.64
Vested and expected to vest, aggregate intrinsic value \| $	$ 38.9
Vested and expected to vest, weighted average contractual life (in years)	6 years 29 days
Exercisable
Exercisable, in shares \| shares	5.2
Exercisable, usd per share \| $ / shares	$ 19.72
Exercisable, aggregate intrinsic value \| $	$ 38.9
Exercisable, weighted average contractual life (in years)	5 years 2 months 1 day

Stock-based Compensation - Schedule of Restricted Stock Awards and Restricted Stock Units (Details) - Restricted Stock and Restricted Stock Units [Member] shares in Millions	3 Months Ended
	Mar. 31, 2019 $ / shares shares
Awards (in millions)
Beginning Balance \| shares	1.6
Granted (in shares) \| shares	0.6
Vested (in shares) \| shares	(0.6)
Forfeited (in shares) \| shares	0.0
Ending Balance \| shares	1.6
Weighted Average Exercise Price (usd per share)
Beginning Balance (usd per share) \| $ / shares	$ 29.12
Granted (usd per share) \| $ / shares	27.01
Vested (usd per share) \| $ / shares	27.99
Forfeited (usd per share) \| $ / shares	26.89
Ending Balance (usd per share) \| $ / shares	$ 28.76

Stock-based Compensation - Schedule of Performance Shares Award Outstanding Activity (Details) - Performance Shares [Member] shares in Millions	3 Months Ended
	Mar. 31, 2019 $ / shares shares
Awards (in millions)
Beginning Balance \| shares	0.8
Granted (in shares) \| shares	0.3
Vested (in shares) \| shares	0.0
Forfeited (in shares) \| shares	(0.3)
Ending Balance \| shares	0.8
Weighted Average Exercise Price (usd per share)
Beginning Balance (usd per share) \| $ / shares	$ 31.82
Granted (usd per share) \| $ / shares	29.28
Vested (usd per share) \| $ / shares	0
Forfeited (usd per share) \| $ / shares	25.66
Ending Balance (usd per share) \| $ / shares	$ 33.47

Other Income, Net - Schedule of Other Non-operating Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Other Income and Expenses [Abstract]
Foreign exchange losses, net	$ 2.4	$ 0.0
Other miscellaneous income, net	(3.4)	(2.2)
Total	$ (1.0)	$ (2.2)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Effective income tax rate, percent	24.30%	14.30%
Tax benefit on share-based compensation	$ 3.6	$ 2.4

Earnings (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share [Abstract]
Net income to common shareholders	$ 43.4	$ 69.9
Basic weighted average shares outstanding (in shares)	234.1	240.9
Diluted weighted average shares outstanding (in shares)	236.6	245.8
Earnings per common share:
Basic net income (loss) per share (dollars per share)	$ 0.19	$ 0.29
Diluted net income (loss) per share (dollars per share)	$ 0.18	$ 0.28
Antidilutive securities excluded from computation of earnings per share (in shares)	2.9	2.5

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Accounts and Notes Receivable, Net - Schedule of Accounts, Notes, Loans, and Financing Receivable (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Receivables [Abstract]
Accounts receivable - trade, net (1)	$ 809.9	$ 739.9
Notes receivable	26.2	36.1
Other	84.4	84.8
Total	920.5	860.8
Allowance for Doubtful Accounts Receivable, Current	$ 13.9	$ 15.4

Accounts and Notes Receivable, Net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Receivables [Abstract]
Bad Debt Expense Net Of Recoveries	$ 1.0	$ 0.2

Inventories - Schedule of Inventory (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Finished products	$ 349.3	$ 334.0
Semi-finished products	110.0	108.0
Raw materials	146.4	149.9
Inventory, Supplies, Net of Reserves	21.1	21.1
Inventories	$ 626.8	$ 613.0

Property, Plant and Equipment, Net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation	$ 45.4	$ 46.4

Property, Plant and Equipment, Net - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Property, plant and equipment	$ 2,224.8	$ 2,218.8
Accumulated depreciation	(950.4)	(920.6)
Property, plant, and equipment, net	$ 1,274.4	$ 1,298.2

Borrowings - Schedule of Debt (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018	Apr. 11, 2018	Jun. 01, 2017	Aug. 16, 2016
Debt Instrument [Line Items]
Short-term and other borrowings	$ 111.4	$ 103.8
Unamortized original issue discount	(12.1)	(12.6)
Unamortized deferred financing costs	(35.7)	(37.2)
Debt and Capital Lease Obligations	3,852.5	3,864.0
Short-term borrowings	19.2	17.9
Current portion of long-term borrowings	24.3	24.3
Long-term debt	3,809.0	3,821.8
2024 Dollar Term Loans [Member]
Debt Instrument [Line Items]
Term loan	2,405.7	2,411.8
Unamortized original issue discount			$ (6.0)	$ (2.5)
2024 Dollar Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	500.0	500.0
Unamortized original issue discount					$ (2.0)
2024 Euro Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	376.9	383.3
2025 Euro Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	$ 506.3	$ 514.9

Borrowings - Senior Secured Credit Facilities (Details) € in Millions						3 Months Ended
	Apr. 11, 2018 USD ($)	Jun. 01, 2017 USD ($)	Dec. 15, 2016 EUR (€)	Aug. 01, 2016	Feb. 03, 2014 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Apr. 10, 2018 USD ($)	Dec. 15, 2016 USD ($)	Jul. 31, 2016
Debt Instrument [Line Items]
Unamortized original issue discount						$ 12,100,000	$ 12,600,000
Proceeds from maturities, prepayments and calls of other investments (more than)					$ 75,000,000.0
Percentage on excess cash flow for mandatory prepayments of debt					50.00%
Decrease in percentage on excess cash flow for mandatory prepayments of debt					25.00%
Percentage on first lien leverage ratio for mandatory prepayments of debt					0.00%
First lien leverage ratio upper limit					4.25
First lien leverage ratio lower limit				5.50	3.50
Line of credit facility, maximum borrowing capacity						700,000,000.0
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Expiration period (in years)				5 years
Accelerated period prior to expiration period (in days)				91 days
Percent of credit facility outstanding for accelerated maturity				30.00%						25.00%
Percent not cash collateralized				103.00%
Line of credit facility, maximum amount outstanding during period						0
Letters of credit outstanding, amount						43,900,000	44,800,000
Line of credit facility, remaining borrowing capacity						$ 356,100,000	$ 355,200,000
Dollar Term Loan Due 2020 [Member]
Debt Instrument [Line Items]
Debt, long-term and short-term, combined amount									$ 1,775,300,000
2023 Dollar Term Loan [Member]
Debt Instrument [Line Items]
Debt, long-term and short-term, combined amount		$ 1,541,100,000							$ 1,545,000,000.0
2023 Dollar Term Loan [Member] \| Eurocurrency Rate Loans [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			2.50%
2023 Dollar Term Loan [Member] \| Interest Rate Floor [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			0.75%
2023 Dollar Term Loan [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			1.50%
Euro Term Loan Due 2020 [Member]
Debt Instrument [Line Items]
Debt, long-term and short-term, combined amount \| €			€ 199.0
2023 Euro Term Loan [Member]
Debt Instrument [Line Items]
Debt, long-term and short-term, combined amount \| €			€ 400.0
2023 Euro Term Loan [Member] \| Eurocurrency Rate Loans [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			2.25%
2023 Euro Term Loan [Member] \| Interest Rate Floor [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			0.75%
2024 Dollar Term Loans [Member]
Debt Instrument [Line Items]
Debt, long-term and short-term, combined amount	$ 2,430,000,000.0	$ 2,000,000,000.0						$ 475,000,000.0
Discount, percent of par	99.75%	99.875%
Unamortized original issue discount	$ 6,000,000.0	$ 2,500,000
Debt instrument periodic payment principal percentage						1.00%
2024 Dollar Term Loans [Member] \| Eurocurrency Rate Loans [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.00%	1.75%
2024 Dollar Term Loans [Member] \| Interest Rate Floor [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.00%
2024 Dollar Term Loans [Member] \| Interest Rate Floor [Member] \| Eurocurrency Rate Loans [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.00%
2024 Dollar Term Loans [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.00%	0.75%
Senior Secured Credit Facilities [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				2.75%	3.50%
First lien leverage ratio upper limit				3.00
First lien leverage ratio lower limit				2.50
Senior Secured Credit Facilities [Member] \| Eurodollar [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				0.00%
Step-down percent for 3.00:1.00 leverage ratio				2.50%
Step-down percent for 2.50:1.00 leverage ratio				2.25%
Senior Secured Credit Facility, Base Rate Loans [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				1.75%	2.50%
First lien leverage ratio upper limit				3.00
First lien leverage ratio lower limit				2.50
Step-down percent for 3.00:1.00 leverage ratio				1.50%
Step-down percent for 2.50:1.00 leverage ratio				1.25%
Senior Secured Credit Facility, Base Rate Loans [Member] \| Eurodollar [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				1.00%
Senior Secured Credit Facility, Base Rate Loans [Member] \| Federal Funds Effective Swap Rate [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				0.50%

Borrowings - Senior Notes (Details) € in Millions, $ in Millions		3 Months Ended
	Aug. 16, 2016 EUR (€)	Mar. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Sep. 27, 2016 EUR (€)	Aug. 16, 2016 USD ($)
Debt Instrument [Line Items]
Unamortized original issue discount		$ 12.1	$ 12.6
2024 Dollar Senior Notes [Member]
Debt Instrument [Line Items]
Percentage if change in control occurs	101.00%
2024 Dollar Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount					$ 500.0
Debt instrument, interest rate, stated percentage	4.875%				4.875%
Discount, percent of par	99.951%				99.951%
Unamortized original issue discount					$ 2.0
Debt instrument, redemption price, percentage	104.875%
Percent of principal required to be outstanding	50.00%
2024 Dollar Senior Notes [Member] \| Any Time Prior to August 15, 2019 [Member]
Debt Instrument [Line Items]
Redemption price, percentage of principal amount redeemed	40.00%
2024 Euro Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount \| €	€ 335.0
Debt instrument, interest rate, stated percentage	4.25%				4.25%
Debt instrument, redemption price, percentage	104.25%
Percent of principal required to be outstanding	50.00%
Percentage if change in control occurs	101.00%
2024 Euro Senior Notes [Member] \| Any Time Prior to August 15, 2019 [Member]
Debt Instrument [Line Items]
Redemption price, percentage of principal amount redeemed	40.00%
2025 Euro Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount \| €				€ 450.0
Debt instrument, interest rate, stated percentage				3.75%
Debt instrument, redemption price, percentage		103.75%
Percent of principal required to be outstanding		50.00%
Percentage if change in control occurs		101.00%
2025 Euro Senior Notes [Member] \| Any Time Prior to January 15, 2020 [Member]
Debt Instrument [Line Items]
Redemption price, percentage of principal amount redeemed		40.00%

Borrowings - Debt Instrument Redemption (Details)	3 Months Ended
Borrowings - Debt Instrument Redemption (Details)	Mar. 31, 2019
2024 Dollar Senior Notes [Member] \| 2019 [Member]
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price, percentage	103.656%
2024 Dollar Senior Notes [Member] \| 2020 [Member]
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price, percentage	102.438%
2024 Dollar Senior Notes [Member] \| 2021 [Member]
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price, percentage	101.219%
2024 Dollar Senior Notes [Member] \| 2022 and thereafter [Member]
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price, percentage	100.00%
2024 Euro Senior Notes [Member] \| 2019 [Member]
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price, percentage	103.188%
2024 Euro Senior Notes [Member] \| 2020 [Member]
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price, percentage	102.125%
2024 Euro Senior Notes [Member] \| 2021 [Member]
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price, percentage	101.063%
2024 Euro Senior Notes [Member] \| 2022 and thereafter [Member]
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price, percentage	100.00%
2025 Euro Senior Notes [Member] \| 2019 [Member]
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price, percentage	102.813%
2025 Euro Senior Notes [Member] \| 2020 [Member]
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price, percentage	101.875%
2025 Euro Senior Notes [Member] \| 2021 [Member]
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price, percentage	100.938%
2025 Euro Senior Notes [Member] \| 2022 and thereafter [Member]
Debt Instrument, Redemption [Line Items]
Debt instrument, redemption price, percentage	100.00%

Borrowings - Schedule of Maturities of Long-term Debt (Details) $ in Millions	Mar. 31, 2019 USD ($)
Debt Disclosure [Abstract]
Remainder of 2019	$ 35.8
2020	26.9
2021	26.8
2022	54.3
2023	27.1
Thereafter	3,729.4
Long-term debt	$ 3,900.3

Financial Instruments, Hedging Activities and Fair Value Measurements - Schedule of Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Other Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in equity securities	$ 0.8	$ 0.7
Long-term Debt [Member] \| 2024 Dollar Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	502.1	474.9
Long-term Debt [Member] \| 2024 Euro Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	392.9	381.1
Long-term Debt [Member] \| 2025 Euro Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	527.3	497.5
Long-term Debt [Member] \| 2024 Dollar Term Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans payable, fair value	2,354.6	2,276.1
Interest Rate Cap [Member] \| Prepaid Expenses and Other Current Assets [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	2.3	4.5
Interest Rate Cap [Member] \| Other Assets [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0.0	1.4
Interest Rate Cap [Member] \| Other Liabilities [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0.1	0.0
Currency Swap [Member] \| Prepaid Expenses and Other Current Assets [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	14.3	14.1
Currency Swap [Member] \| Other Assets [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0.6	0.0
Currency Swap [Member] \| Other Liabilities [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0.0	8.8
Interest Rate Swap [Member] \| Accrued Liabilities [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	1.2	0.0
Interest Rate Swap [Member] \| Other Liabilities [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	12.8	2.9
Fair Value, Inputs, Level 1 [Member] \| Other Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in equity securities	0.8	0.7
Fair Value, Inputs, Level 1 [Member] \| Long-term Debt [Member] \| 2024 Dollar Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0.0	0.0
Fair Value, Inputs, Level 1 [Member] \| Long-term Debt [Member] \| 2024 Euro Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0.0	0.0
Fair Value, Inputs, Level 1 [Member] \| Long-term Debt [Member] \| 2025 Euro Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0.0	0.0
Fair Value, Inputs, Level 1 [Member] \| Long-term Debt [Member] \| 2024 Dollar Term Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans payable, fair value	0.0	0.0
Fair Value, Inputs, Level 1 [Member] \| Interest Rate Cap [Member] \| Prepaid Expenses and Other Current Assets [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0.0	0.0
Fair Value, Inputs, Level 1 [Member] \| Interest Rate Cap [Member] \| Other Assets [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0.0	0.0
Fair Value, Inputs, Level 1 [Member] \| Interest Rate Cap [Member] \| Other Liabilities [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0.0	0.0
Fair Value, Inputs, Level 1 [Member] \| Currency Swap [Member] \| Prepaid Expenses and Other Current Assets [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0.0	0.0
Fair Value, Inputs, Level 1 [Member] \| Currency Swap [Member] \| Other Assets [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0.0	0.0
Fair Value, Inputs, Level 1 [Member] \| Currency Swap [Member] \| Other Liabilities [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0.0	0.0
Fair Value, Inputs, Level 1 [Member] \| Interest Rate Swap [Member] \| Accrued Liabilities [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0.0	0.0
Fair Value, Inputs, Level 1 [Member] \| Interest Rate Swap [Member] \| Other Liabilities [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0.0	0.0
Fair Value, Inputs, Level 2 [Member] \| Other Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in equity securities	0.0	0.0
Fair Value, Inputs, Level 2 [Member] \| Long-term Debt [Member] \| 2024 Dollar Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	502.1	474.9
Fair Value, Inputs, Level 2 [Member] \| Long-term Debt [Member] \| 2024 Euro Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	392.9	381.1
Fair Value, Inputs, Level 2 [Member] \| Long-term Debt [Member] \| 2025 Euro Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	527.3	497.5
Fair Value, Inputs, Level 2 [Member] \| Long-term Debt [Member] \| 2024 Dollar Term Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans payable, fair value	2,354.6	2,276.1
Fair Value, Inputs, Level 2 [Member] \| Interest Rate Cap [Member] \| Prepaid Expenses and Other Current Assets [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	2.3	4.5
Fair Value, Inputs, Level 2 [Member] \| Interest Rate Cap [Member] \| Other Assets [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0.0	1.4
Fair Value, Inputs, Level 2 [Member] \| Interest Rate Cap [Member] \| Other Liabilities [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0.1	0.0
Fair Value, Inputs, Level 2 [Member] \| Currency Swap [Member] \| Prepaid Expenses and Other Current Assets [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	14.3	14.1
Fair Value, Inputs, Level 2 [Member] \| Currency Swap [Member] \| Other Assets [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0.6	0.0
Fair Value, Inputs, Level 2 [Member] \| Currency Swap [Member] \| Other Liabilities [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0.0	8.8
Fair Value, Inputs, Level 2 [Member] \| Interest Rate Swap [Member] \| Accrued Liabilities [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	1.2	0.0
Fair Value, Inputs, Level 2 [Member] \| Interest Rate Swap [Member] \| Other Liabilities [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	12.8	2.9
Fair Value, Inputs, Level 3 [Member] \| Other Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in equity securities	0.0	0.0
Fair Value, Inputs, Level 3 [Member] \| Long-term Debt [Member] \| 2024 Dollar Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0.0	0.0
Fair Value, Inputs, Level 3 [Member] \| Long-term Debt [Member] \| 2024 Euro Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0.0	0.0
Fair Value, Inputs, Level 3 [Member] \| Long-term Debt [Member] \| 2025 Euro Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, fair value	0.0	0.0
Fair Value, Inputs, Level 3 [Member] \| Long-term Debt [Member] \| 2024 Dollar Term Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans payable, fair value	0.0	0.0
Fair Value, Inputs, Level 3 [Member] \| Interest Rate Cap [Member] \| Prepaid Expenses and Other Current Assets [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0.0	0.0
Fair Value, Inputs, Level 3 [Member] \| Interest Rate Cap [Member] \| Other Assets [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0.0	0.0
Fair Value, Inputs, Level 3 [Member] \| Interest Rate Cap [Member] \| Other Liabilities [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0.0	0.0
Fair Value, Inputs, Level 3 [Member] \| Currency Swap [Member] \| Prepaid Expenses and Other Current Assets [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0.0	0.0
Fair Value, Inputs, Level 3 [Member] \| Currency Swap [Member] \| Other Assets [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0.0	0.0
Fair Value, Inputs, Level 3 [Member] \| Currency Swap [Member] \| Other Liabilities [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0.0	0.0
Fair Value, Inputs, Level 3 [Member] \| Interest Rate Swap [Member] \| Accrued Liabilities [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0.0	0.0
Fair Value, Inputs, Level 3 [Member] \| Interest Rate Swap [Member] \| Other Liabilities [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	$ 0.0	$ 0.0

Financial Instruments, Hedging Activities and Fair Value Measurements - Additional Information (Details) € in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2018 EUR (€)	Dec. 31, 2018 USD ($)	Jun. 30, 2018 EUR (€)	Jun. 30, 2018 USD ($)	Dec. 31, 2017 EUR (€)	Dec. 31, 2017 USD ($)
Derivatives, Fair Value [Line Items]
Number of interest rate swaps							4	4
Cash flow hedge gain (loss) to be reclassified within twelve months	$ 600,000
2023 Euro Term Loan [Member]
Derivatives, Fair Value [Line Items]
Derivative, notional amount \| €							€ 388.0
2023 Euro Term Loan [Member]
Derivatives, Fair Value [Line Items]
Derivative, cap interest rate							1.25%	1.25%
Derivative instrument, premium paid								$ 600,000
Interest Rate Cap [Member]
Derivatives, Fair Value [Line Items]
Interest rate derivative assets, at fair value	0
Interest Rate Cap [Member] \| 2024 Dollar Term Loans [Member]
Derivatives, Fair Value [Line Items]
Derivative, cap interest rate							1.50%	1.50%
Derivative, notional amount								$ 850,000,000.0
Interest Rate Cap [Member] \| 2024 Dollar Term Loans [Member] \| December 31, 2019 [Member]
Derivatives, Fair Value [Line Items]
Derivative, notional amount								600,000,000.0
Derivative instrument, deferred premium								8,600,000
Interest Rate Cap [Member] \| 2024 Dollar Term Loans [Member] \| December 31, 2021 [Member]
Derivatives, Fair Value [Line Items]
Derivative, notional amount								250,000,000.0
Derivative instrument, deferred premium								$ 8,100,000
Interest Rate Swap [Member]
Derivatives, Fair Value [Line Items]
Derivative, notional amount	$ 500,000,000.0					$ 475,000,000.0
Number of interest rate caps					3	3
Derivative, fixed interest rate	2.59%				2.72%	2.72%
Currency Swap [Member]
Derivatives, Fair Value [Line Items]
Derivative, notional amount			€ 416.6	$ 475,000,000.0	€ 387.2	$ 475,000,000.0
Number of interest rate caps			3	3
Derivative, fixed interest rate			1.44%	1.44%	1.95%	1.95%
Derivative, interest rate of hedged item			4.47%	4.47%	4.47%	4.47%
Derivative, cost of hedge net of cash received		$ 22,500,000

Financial Instruments, Hedging Activities and Fair Value Measurements - Accumulated Other Comprehensive (Loss) Income (Details) - Fair Value, Inputs, Level 2 [Member] - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total accumulated other comprehensive (loss) income	$ (0.6)	$ (28.1)
Cash Flow Hedging [Member] \| Interest Rate Cap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total accumulated other comprehensive (loss) income	0.3	(3.4)
Cash Flow Hedging [Member] \| Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total accumulated other comprehensive (loss) income	14.0	3.0
Net Investment Hedging [Member] \| Currency Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total accumulated other comprehensive (loss) income	$ (14.9)	$ (27.7)

Financial Instruments, Hedging Activities and Fair Value Measurements - Derivative Locations and Amounts Recognized (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized (loss) gain on derivatives	$ (14.6)	$ 7.9
Interest Expense [Member] \| Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	0.0	0.0
Interest Expense [Member] \| Interest Rate Cap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	1.5	1.4
Cash Flow Hedging [Member] \| Interest Rate Cap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized (loss) gain on derivatives	2.5	(8.0)
Cash Flow Hedging [Member] \| Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized (loss) gain on derivatives	11.0	0.0
Cash Flow Hedging [Member] \| Currency Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized (loss) gain on derivatives	(13.3)	0.0
Cash Flow Hedging [Member] \| Interest Expense [Member] \| Interest Rate Cap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount of (Gain) Loss Recognized in Income	(1.1)	0.1
Cash Flow Hedging [Member] \| Interest Expense [Member] \| Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount of (Gain) Loss Recognized in Income	(0.1)	0.0
Cash Flow Hedging [Member] \| Interest Expense [Member] \| Currency Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount of (Gain) Loss Recognized in Income	$ (3.6)	$ 0.0

Segments - Additional Information (Details)	3 Months Ended
Segments - Additional Information (Details)	Mar. 31, 2019 Segment
Segment Reporting [Abstract]
Number of operating segments	2

Segments - Schedule of Segment Reporting Information, by Segment (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Net sales	$ 1,119,300,000	$ 1,172,000,000.0
Equity in earnings in unconsolidated affiliates	(300,000)	0
Investment in unconsolidated affiliates	14,800,000	16,000,000.0
Segment Reporting, Measurement for Transactions Between Reportable Segments	0
Performance Coatings [Member]
Segment Reporting Information [Line Items]
Net sales	713,300,000	731,000,000.0
Equity in earnings in unconsolidated affiliates	100,000	100,000
Investment in unconsolidated affiliates	2,500,000	3,300,000
Transportation Coatings [Member]
Segment Reporting Information [Line Items]
Net sales	406,000,000.0	441,000,000.0
Equity in earnings in unconsolidated affiliates	(400,000)	(100,000)
Investment in unconsolidated affiliates	12,300,000	12,700,000
Refinish [Member] \| Performance Coatings [Member]
Segment Reporting Information [Line Items]
Net sales	405,500,000	414,200,000
Industrial [Member] \| Performance Coatings [Member]
Segment Reporting Information [Line Items]
Net sales	307,800,000	316,800,000
Light Vehicle [Member] \| Transportation Coatings [Member]
Segment Reporting Information [Line Items]
Net sales	315,900,000	353,200,000
Commercial Vehicle [Member] \| Transportation Coatings [Member]
Segment Reporting Information [Line Items]
Net sales	$ 90,100,000	$ 87,800,000

Segments - Reconciliation of Operating Profit (Loss) from Segments to Consolidated (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBIT	$ 112.8	$ 121.0
Interest expense, net	41.3	39.4
Termination benefits and other employee related costs	1.3	(1.3)
Offering and transactional costs	0.6	0.0
Accelerated depreciation	6.1	0.0
Loss on assets held for sale	5.2	0.0
Change in fair value of equity instruments	0.0	0.1
Income before income taxes	58.3	82.8
Performance Coatings [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBIT	78.6	76.0
Transportation Coatings [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBIT	$ 34.2	$ 45.0

Shareholders' Equity (Details) - USD ($) $ in Millions	3 Months Ended
Shareholders' Equity (Details) - USD ($) $ in Millions	Mar. 31, 2019	Mar. 31, 2018	Jan. 01, 2019	Jan. 01, 2018
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 1,310.5	$ 1,407.8
Cumulative effect of an accounting change			$ (0.7)	$ 12.2
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance			1,309.8	1,420.0
Total stockholders’ equity, beginning balance	1,310.5	1,407.8
Net income	44.1	71.0
Other comprehensive loss, net of tax	0.9	50.0
Recognition of stock-based compensation	6.7	8.4
Exercise of stock options	11.4	6.2
Treasury share repurchases	(65.8)	(3.3)
Non-controlling interests of acquired subsidiaries	(26.4)	(26.9)
Dividends paid to noncontrolling interests	(1.1)	(1.0)
Ending balance	1,279.6	1,524.4
Parent [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1,205.1	1,276.1
Cumulative effect of an accounting change			(0.7)	12.1
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance			1,204.4	1,288.2
Total stockholders’ equity, beginning balance	1,205.1	1,276.1
Net income	43.4	69.9
Other comprehensive loss, net of tax	0.4	49.1
Recognition of stock-based compensation	6.7	8.4
Exercise of stock options	11.4	6.2
Treasury share repurchases	(65.8)	(3.3)
Non-controlling interests of acquired subsidiaries	(5.7)	(2.9)
Dividends paid to noncontrolling interests	0.0	0.0
Ending balance	1,206.2	1,421.4
Noncontrolling Interest [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	105.4	131.7
Cumulative effect of an accounting change			0.0	0.1
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance			$ 105.4	$ 131.8
Total stockholders’ equity, beginning balance	105.4	131.7
Net income	0.7	1.1
Other comprehensive loss, net of tax	0.5	0.9
Recognition of stock-based compensation	0.0	0.0
Exercise of stock options	0.0	0.0
Treasury share repurchases	0.0	0.0
Non-controlling interests of acquired subsidiaries	(32.1)	(29.8)
Dividends paid to noncontrolling interests	(1.1)	(1.0)
Ending balance	$ 73.4	$ 103.0

Accumulated Other Comprehensive Income (Loss) - Schedule of Accumulated Other Comprehensive Income (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Jan. 01, 2019	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	$ (335,700,000)			$ (336,100,000)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Cumulative effect of an accounting change			$ (700,000)		$ 12,200,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance			$ 1,309,800,000		1,420,000,000.0
Unrealized Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(286,600,000)	$ (166,600,000)		(299,400,000)		$ (208,800,000)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Cumulative effect of an accounting change					0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance					(208,800,000)
Current year deferrals to AOCI	12,800,000	42,200,000
Reclassifications from AOCI to Net income	0	0
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	12,800,000	42,200,000
Pension Adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(36,400,000)	(30,800,000)		(36,400,000)		(31,400,000)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Cumulative effect of an accounting change					0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance					(31,400,000)
Current year deferrals to AOCI	0	0
Reclassifications from AOCI to Net income	0	600,000
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	0	600,000
Unrealized Gain (Loss) on Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss		0				800,000
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Cumulative effect of an accounting change					(800,000)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance					0
Current year deferrals to AOCI		0
Reclassifications from AOCI to Net income		0
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent		0
Unrealized Gain (Loss) on Derivatives
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(12,700,000)	4,700,000		(300,000)		(1,600,000)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Cumulative effect of an accounting change					0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance					(1,600,000)
Current year deferrals to AOCI	(11,400,000)	6,400,000
Reclassifications from AOCI to Net income	(1,000,000.0)	(100,000)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(12,400,000)	6,300,000
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(335,700,000)	(192,700,000)		$ (336,100,000)		$ (241,000,000.0)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Cumulative effect of an accounting change					(800,000)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance					$ (241,800,000)
Current year deferrals to AOCI	1,400,000	48,600,000
Reclassifications from AOCI to Net income	(1,000,000.0)	500,000
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	$ 400,000	$ 49,100,000

Accumulated Other Comprehensive Income (Loss) - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Equity [Abstract]
Pension and other postretirement benefit plans, tax benefit (expense)	$ (0.5)	$ (0.3)
Cumulative income tax expense (benefit) on pension and postretirement benefit plans	(13.9)	(13.3)
Unrealized gain (loss) on derivatives, income tax expense (benefit)	(2.2)	(1.6)
Cumulative income tax expense (benefit) on derivatives	$ (1.7)	$ (1.0)

Three months ended March 31,

Effective Tax Rate