Financial Instruments (Tables)

3 Months Ended

Jul. 02, 2011

Financial Instruments (Tables) [Abstract]

Company's outstanding derivative instruments on a gross basis as recorded on its consolidated balance sheets


	Notional Amounts				Derivative Assets						Derivative Liabilities
					Balance			Balance			Balance				Balance
					Sheet	Fair		Sheet	Fair		Sheet	Fair			Sheet	Fair
					Line^(b)	Value		Line^(b)	Value		Line^(b)	Value			Line^(b)	Value
Derivative Instrument^(a)	July 2, 2011		April 2, 2011		July 2, 2011			April 2, 2011			July 2, 2011				April 2, 2011
	(millions)

Designated Hedges:
FC — Inventory purchases	$	676.4	$	342.4	^(c)	$	4.0	PP	$	1.1	^(d)	$	(15.6	)	AE	$	(9.4	)
FC — I/C royalty payments		20.9		46.8	—		—	—		—	AE		(2.1	)	AE		(3.6	)
FC — Interest payments		13.4		9.3	PP		0.2	PP		0.4	—		—		—		—
FC — Other		36.4		29.6	—		—	PP		0.5	AE		(0.1	)	AE		(0.1	)
IRS — Euro Debt		—		295.5	—		—	—		—	—		—		ONCL		(3.3	)
NI — Euro Debt		296.7		291.9	—		—	—		—	LTD		(313.6	)^(e)	LTD		(305.0	)^(e)

Total Designated Hedges	$	1,043.8	$	1,015.5		$	4.2		$	2.0		$	(331.4	)		$	(321.4	)

Undesignated Hedges:
FC — Other	$	56.9	$	40.0	PP	$	0.4	—	$	—	^(f)	$	(1.3	)	^(g)	$	(1.4	)

Total Hedges	$	1,100.7	$	1,055.5		$	4.6		$	2.0		$	(332.7	)		$	(322.8	)


^(a)		FC = Forward exchange contracts for the sale or purchase of foreign currencies; IRS = Interest Rate Swap; NI = Net Investment; Euro Debt = Euro-denominated 4.5% notes due October 4, 2013.

^(b)		PP = Prepaid expenses and other; OA = Other assets; AE = Accrued expenses and other; ONCL = Other non-current liabilities; LTD = Long-term debt.

^(c)		$1.6 million included within PP and $2.4 million included within OA.

^(d)		$14.6 million included within AE and $1.0 million included within ONCL.

^(e)		The Company’s Euro Debt is reported at carrying value in the Company’s consolidated balance sheets. The carrying value of the Euro Debt was $296.7 million as of July 2, 2011 and $291.9 million as of April 2, 2011.

^(f)		$1.2 million included within AE and $0.1 million included within ONCL.

^(g)		$0.4 million included within AE and $1.0 million included within ONCL.

Gains (Losses) Recognized in OCI


	Gains (Losses)						Gains (Losses) Reclassified
	Recognized in OCI^(b)						from AOCI^(b) to Earnings
	Three Months Ended						Three Months Ended						Location of Gains (Losses)
Derivative Instrument^(a)	July 2, 2011			July 3, 2010			July 2, 2011			July 3, 2010			Reclassified from AOCI^(b)to Earnings
	(millions)

Designated Cash Flow Hedges:
FC — Inventory purchases	$	(8.7	)	$	12.7		$	3.2		$	0.3		Cost of goods sold
FC — I/C royalty payments		0.9			(1.9	)		(2.5	)		0.6		Foreign currency gains (losses)
FC — Interest payments		(0.4	)		(0.8	)		0.6			—		Foreign currency gains (losses)
FC — Other		(0.4	)		0.1			0.3			(0.2	)	^(c)

	$	(8.6	)	$	10.1		$	1.6		$	0.7

Designated Hedge of Net Investment:
Euro Debt	$	(8.3	)	$	20.4		$	—		$	—		^(d)

Total Designated Hedges	$	(16.9	)	$	30.5		$	1.6		$	0.7


^(a)		FC = Forward exchange contracts for the sale or purchase of foreign currencies; Euro Debt = Euro-denominated 4.5% notes due October 4, 2013.


^(b)		AOCI, including the respective fiscal period’s OCI, is classified as a component of total equity.

^(c)		Principally recorded within foreign currency gains (losses).

^(d)		To the extent applicable, to be recognized as a gain (loss) on the sale or liquidation of the hedged net investment.

Reclassification of Cash Flow Hedge Gain (Loss)


	Gains (Losses)
	Recognized in Earnings
	Three Months Ended					Location of Gains (Losses)
Derivative Instrument^(a)	July 2, 2011			July 3, 2010		Recognized in Earnings
	(millions)

Undesignated Hedges:
FC — Other	$	(0.1	)	$	1.0	Foreign currency gains (losses)


^(a)		FC = Forward exchange contracts for the sale or purchase of foreign currencies; Euro Debt = Euro-denominated 4.5% notes due October 4, 2013.

Company's short-term and non-current investments recorded in the consolidated balance sheets


	July 2, 2011						April 2, 2011
	Short-term		Non-current				Short-term		Non-current
Type of Investment	< 1 year		1 - 3 years		Total		< 1 year		1 - 3 years		Total
	(millions)

Held-to-Maturity:
Municipal bonds	$	23.6	$	2.7	$	26.3	$	90.8	$	12.7	$	103.5

Total held-to-maturity investments	$	23.6	$	2.7	$	26.3	$	90.8	$	12.7	$	103.5

Available-for-Sale:
Municipal bonds	$	12.0	$	24.2	$	36.2	$	32.3	$	68.1	$	100.4
Variable rate municipal securities		—		—		—		14.5		—		14.5
Auction rate securities		—		2.3		2.3		—		2.3		2.3
Other securities		—		0.4		0.4		—		0.5		0.5

Total available-for-sale investments	$	12.0	$	26.9	$	38.9	$	46.8	$	70.9	$	117.7

Other:
Time deposits and other	$	484.4	$	—	$	484.4	$	456.3	$	—	$	456.3

Total Investments	$	520.0	$	29.6	$	549.6	$	593.9	$	83.6	$	677.5

- Definition

This item represents the entire disclosure related to Investments in Certain Debt and Equity Securities (and certain other trading assets) which include all debt and equity securities (other than those equity securities accounted for under the equity or cost methods of accounting) with readily determinable fair values. Other trading assets include assets that are carried on the balance sheet at fair value and held for trading purposes. A debt security represents a creditor relationship with an enterprise that is in the form of a security. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities (and other trading assets).

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