Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 27, 2014

General Discussion of Derivative Instruments and Hedging Activities [Abstract]

Schedule of Outstanding Derivative Financial Instruments, Notional Value

Following is a listing of the notional amounts included in the Company's outstanding derivative financial instruments as of December 27, 2014 and December 28, 2013. Related to the forward contracts, the “buy” amounts represent the U.S. dollar equivalent of commitments to purchase foreign currencies, and the “sell” amounts represent the U.S. dollar equivalent of commitments to sell foreign currencies, all translated at the year-end market exchange rates for the U.S. dollar. All forward contracts are hedging net investments in certain foreign subsidiaries, cross-currency intercompany loans that are not permanent in nature, cross-currency external payables and receivables or forecasted purchases. Some amounts are between two foreign currencies:

Forward Contracts	2014				2013
(In millions)	Buy		Sell		Buy		Sell
U.S. dollar	$	76.8					$	54.7
Euro	70.9				$	157.7
South Korean won	10.6				9.7
Philippine peso	7.6				11.3
New Zealand dollar	7.4				4.5
South African rand	6.4						10.4
Danish krone	3.9						3.5
Uruguayan peso	1.5				4.7
Swiss franc			$	46.7			49.4
Turkish lira			23.4				11.7
Japanese yen			14.8				3.7
Mexican peso			13.6		18.2
Indonesian rupiah			13.2		2.3
Canadian dollar			11.8				11.0
Russian ruble			11.0				22.9
Singapore dollar			8.1				1.7
Brazilian real			5.9				6.6
Polish zloty			4.5				4.7
Australian dollar			4.2				6.8
Indian rupee			3.7				6.6
Czech koruna			3.6				2.5
Norwegian krone			3.4				1.7
Malaysian ringgit			3.3				2.7
Swedish krona			3.0				1.7
Hungarian forint			2.7				2.4
Croatian kuna			2.3				2.6
Chinese renminbi			1.7		8.1
Romanian leu			1.0				1.2
British pound			1.0				1.0
Other currencies (net)			1.3				8.1
	$	185.1	$	184.2	$	216.5	$	217.6

Schedule of Derivative Positions and Impact on Financial Position

The following tables summarize the Company's derivative positions, representing the Company's only fair value measurements performed on a recurring basis, and the impact they had on the Company's financial position as of December 27, 2014 and December 28, 2013. Fair values were determined based on third party quotations (Level 2 fair value measurement):

	Asset derivatives					Liability derivatives
		Fair value					Fair value
Derivatives designated as hedging instruments (in millions)	Balance sheet location	2014		2013		Balance sheet location	2014		2013
Foreign exchange contracts	Non-trade amounts receivable	$	35.0	$	20.3	Accrued liabilities	$	30.3	$	19.2

Schedule of Derivative Positions and Impact on Results of Operations and Comprehensive Income

The following tables summarize the Company's derivative positions and the impact they had on the Company's results of operations and comprehensive income for the years ended December 27, 2014, December 28, 2013 and December 29, 2012:

Derivatives designated as fair value hedges (in millions)	Location of gain or (loss) recognized in income on derivatives	Amount of gain or (loss) recognized in income on derivatives								Location of gain or (loss) recognized in income on related hedged items	Amount of gain or (loss) recognized in income on related hedged items
		2014			2013			2012			2014		2013		2012
Foreign exchange contracts	Other expense		($36.6	)		($17.4	)		$11.9	Other expense		$35.0		$16.7		($11.9	)

Derivatives designated as cash flow and net equity hedges (in millions)	Amount of gain or (loss) recognized in OCI on derivatives (effective portion)							Location of gain or (loss) reclassified from accumulated OCI into income (effective portion)	Amount of gain or (loss) reclassified from accumulated OCI into income (effective portion)						Location of gain or (loss) recognized in income on derivatives (ineffective portion and amount excluded from effectiveness testing)	Amount of gain or (loss) recognized in income on derivatives (ineffective portion and amounts excluded from effectiveness testing)
Cash flow hedging relationships	2014		2013		2012				2014		2013		2012			2014			2013			2012
Foreign exchange contracts	$	15.9	$	6.5	$	(0.9	)	Cost of products sold	$	9.1	$	3.2	$	1.0	Interest expense	$	(4.9	)	$	(2.9	)	$	(2.5	)
Net equity hedging relationships
Foreign exchange contracts	38.8		20.8		(13.9		)	Other expense	—		—		—		Interest expense	(13.3		)	(13.2		)	(12.9		)