Quarterly report pursuant to Section 13 or 15(d)

Financial Instruments (Tables)

v2.4.0.6
Financial Instruments (Tables)
 9 Months Ended
Sep. 29, 2012
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair values of derivative instruments
As of September 29, 2012, the fair values of the Company’s derivative instruments were:
(in millions)
 
 
 
 
 
 
Derivative Assets
 
Derivative Liabilities
Instrument
 
Balance Sheet Location
 
Fair Value
 
Balance Sheet Location
 
Fair Value
Foreign exchange contracts
 
Prepaid expenses and other
 
$
0.7

 
Accrued expenses
 
$
2.4

Commodity contracts
 
Prepaid expenses and other
 
0.8

 
Accrued expenses
 
1.5

Interest rate contracts
 
Prepaid expenses and other
 
—

 
Accrued expenses
 
6.1

Total
 
 
 
$
1.5

 
 
 
$
10.0


As of December 31, 2011, the fair values of the Company’s derivative instruments were:
(in millions)
 
 
 
 
 
 
Derivative Assets
 
Derivative Liabilities
Instrument
 
Balance Sheet Location
 
Fair Value
 
Balance Sheet Location
 
Fair Value
Foreign exchange contracts
 
Prepaid expenses and other
 
$
3.9

 
Accrued expenses
 
$
1.5

Commodity contracts
 
Prepaid expenses and other
 
—

 
Accrued expenses
 
4.1

Interest rate contracts
 
 Prepaid expenses and other
 
—

 
Accrued expenses
 
2.4

Total
 
 
 
$
3.9

 
 
 
$
8.0

Condensed Consolidated Statements of Comprehensive Income - effect of derivative instruments
The effect of derivative instruments on the Condensed Consolidated Statements of Comprehensive Income for the three months ended September 29, 2012 was: 
(in millions)
 
 
 
 
Fair Value Hedging Instruments
 
Location of (Loss) on Derivatives
Recognized in Earnings
 
Amount of (Loss) on Derivatives Recognized in Earnings
Foreign exchange contracts
 
Cost of sales
 
$
(0.4
)
Foreign exchange contracts
 
Other income (expense), net
 
(0.2
)
Total
 
 
 
$
(0.6
)

Cash Flow Hedge Instruments
 
Amount of Gain (Loss) on Derivatives Recognized in Accumulated Other Comprehensive Loss (Effective Portion)
 
Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings (Effective Portion)
 
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings (Effective Portion)
Interest rate contracts
 
$
(0.8
)
 
Interest expense
 
$
0.2

Foreign exchange contracts
 
(2.7
)
 
Cost of sales
 
0.6

Commodity contracts
 
3.0

 
Cost of sales
 
(1.4
)
Total
 
$
(0.5
)
 
 
 
$
(0.6
)

The effect of derivative instruments on the Condensed Consolidated Statements of Comprehensive Income for the nine months ended September 29, 2012 was: 
(in millions)
 
 
 
 
Fair Value Hedging Instruments
 
Location of Gain (Loss) on Derivatives
Recognized in Earnings
 
Amount of Gain (Loss) on Derivatives Recognized in Earnings
Foreign exchange contracts
 
Cost of sales
 
$
0.9

Foreign exchange contracts
 
Other income (expense), net
 
(0.2
)
Total
 
 
 
$
0.7


Cash Flow Hedge Instruments
 
Amount of Gain (Loss) on Derivatives Recognized in Accumulated Other Comprehensive Loss (Effective Portion)
 
Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings (Effective Portion)
 
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings (Effective Portion)
Interest rate contracts
 
$
(3.7
)
 
Interest expense
 
$
0.7

Foreign exchange contracts
 
(4.2
)
 
Cost of sales
 
0.4

Commodity contracts
 
0.1

 
Cost of sales
 
(3.5
)
Total
 
$
(7.8
)
 
 
 
$
(2.4
)













The effect of derivative instruments on the Condensed Consolidated Statements of Comprehensive Income for the three months ended October 1, 2011 was:
(in millions)
 
 
 
 
Fair Value Hedging Instruments
 
Location of Gain (Loss) on Derivatives
Recognized in Earnings
 
Amount of Gain (Loss) on Derivatives Recognized in Earnings
Foreign exchange contracts
 
Cost of sales
 
$
1.2

Foreign exchange contracts
 
Other income (expense), net
 
0.2

Total
 
 
 
$
1.4


Cash Flow Hedge Instruments
 
Amount of Gain (Loss) on Derivatives Recognized in Accumulated Other Comprehensive Loss (Effective Portion)
 
Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings (Effective Portion)
 
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings (Effective Portion)
Interest rate contracts
 
$
(2.5
)
 
Interest expense
 
$
0.2

Foreign exchange contracts
 
3.9

 
Cost of sales
 
(3.3
)
Commodity contracts
 
(2.5
)
 
Cost of sales
 
0.9

Total
 
$
(1.1
)
 
 
 
$
(2.2
)

The effect of derivative instruments on the Condensed Consolidated Statements of Comprehensive Income for the nine months ended October 1, 2011 was:
(in millions)
 
 
 
 
Fair Value Hedging Instruments
 
Location of Gain (Loss) on Derivatives
Recognized in Earnings
 
Amount of Gain (Loss) on Derivatives Recognized in Earnings
Foreign exchange contracts
 
Cost of sales
 
$
(1.1
)
Foreign exchange contracts
 
Other income (expense), net
 
0.1

Total
 
 
 
$
(1.0
)

Cash Flow Hedge Instruments
 
Amount of Gain (Loss) on Derivatives Recognized in Accumulated Other Comprehensive Loss (Effective Portion)
 
Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings (Effective Portion)
 
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings (Effective Portion)
Interest rate contracts
 
$
(2.5
)
 
Interest expense
 
$
0.7

Foreign exchange contracts
 
(2.8
)
 
Cost of sales
 
(9.4
)
Commodity contracts
 
(1.3
)
 
Cost of sales
 
2.8

Total
 
$
(6.6
)
 
 
 
$
(5.9
)