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Derivative Instruments and Hedging Activities (Tables)
 3 Months Ended
Mar. 28, 2020
Derivative Instruments, Gain (Loss) [Line Items]  
Schedule Of Company's Derivative Position And Its Impact On Company Table
The following table summarizes the Company's derivative positions, which are the only assets and liabilities recorded at fair value on a recurring basis, and the impact they had on the Company's financial position as of March 28, 2020 and December 28, 2019. 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
 
Mar 28,
2020
 
Dec 28,
2019
 
Balance sheet 
location
 
Mar 28,
2020
 
Dec 28,
2019
Foreign exchange contracts
 
Non-trade amounts receivable
 
$
95.5

 
$
16.0

 
Accrued liabilities
 
$
86.5

 
$
19.8

The following table summarizes the impact on the results of operations for the first quarters of 2020 and 2019 for the components included in the hedge effectiveness assessment of the Company's fair value hedging positions:
Derivatives designated as fair value hedges (in millions)
 
Location of (loss) gain recognized in income on derivatives
 
Amount of (loss) gain recognized 
in income on 
derivatives
 
Location of gain (loss) recognized in income on related hedged items
 
Amount of gain (loss) recognized 
in income on
related hedged items
 
 
 
 
2020
 
2019
 
 
 
2020
 
2019
Foreign exchange contracts
 
Other expense
 
$
(75.3
)
 
$
17.3

 
Other expense
 
$
75.3

 
$
(17.3
)
The following table summarizes the impact of the Company's hedging activities on comprehensive income for the first quarters of 2020 and 2019:
Derivatives designated
as cash flow and
net equity hedges
(in millions)
 
Amount of gain (loss) recognized in
OCI on derivatives
(effective portion)
 
Location of gain (loss) reclassified 
from accumulated OCI 
into income
(effective portion)
 
Amount of gain (loss) reclassified
from accumulated
OCI into income
(effective portion)
Cash flow hedging relationships
 
2020
 
2019
 
 
 
2020
 
2019
Foreign exchange contracts
 
$
10.6

 
(2.8
)
 
Cost of products sold
 
$
0.5

 
$
(0.5
)
Net investment hedging relationships
 
 
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
70.7

 
(17.7
)
 
 
 
 
 
 
Euro denominated debt
 
1.8

 
0.8