Report 2: Revlon

Revlon has used derivative financial instruments, primarily the FX contracts to manage risks associated with foreign exchange since 2017. It primarily uses this to hedge its net cash flow projections from intercompany payments and inventory purchases based on currencies other than the USD. Its FX contracts mature in less than 1 year and the notional amount outstanding as of December 31, 2015, 2016, 2017, and 2018 was $76.3, $79.6, $147.1, and nil respectively. Additionally, it utilized the interest rate hedging transactions (the interest rate swap transaction that was initially based on the notion of $400 million) to manage interest rate risk associated with Products Corporationís variable rate indebtedness in 2017 and 2018.†

            Avon terminated its interest rate swap agreements by December 31, 2016. As of 2018, it utilized the cash and cash equivalents, available-for-sale securities, short-term investments, accounts receivables, debt maturing in less than 1 year, accoun...