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Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 27, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Outstanding Foreign Currency Forward Contracts that were Entered into to Hedge Forecasted Cash Flows
We had the following outstanding foreign currency forward contracts as of December 27, 2013:
 
Foreign Currency Contracts Qualifying as Cash Flow Hedges:
 
Notional Amount
Euro
€
243.6

 
million
British pound
£
16.4

 
million
Japanese yen
JPY
1,181.2

 
million
Costa Rican colon
CRC
18,298.0

 
million
Philippine peso
PHP
23.7

 
million
Korean won
KRW
37,695.0

 
million
Poland zloty
PLN
9.5

 
million
Chilean peso
CLP
5,445.6

 
million
 
Fair Values of Derivative Instruments
The following table reflects the fair values of derivative instruments as of December 27, 2013 (U.S. dollars in millions):

 
Derivatives Designated as Hedging Instruments (1)
 
Foreign exchange contracts
 
Bunker fuel swap agreements
Balance Sheet Location:
December 27, 2013 (2)
 
December 28, 2012
 
December 27, 2013
 
December 28, 2012
Asset derivatives:
 
 
 
 
 
 
 
Prepaid expenses and other current assets
$
2.8

 
$
4.6

 
$
—

 
$
0.1

Other noncurrent assets
—

 
—

 
—

 
—

Total asset derivatives
$
2.8

 
$
4.6

 
$
—

 
$
0.1

 
 
 
 
 
 
 
 
Liability derivatives:
 

 
 

 
 
 
 
Accounts payable and accrued expenses
$
5.3

 
$
18.4

 
$
—

 
$
0.1

Other noncurrent liabilities
0.8

 
0.1

 
—

 
—

Total liability derivatives
$
6.1

 
$
18.5

 
$
—

 
$
0.1


(1) See Note 19, "Fair Value Measurements", for fair value disclosures.
(2) We expect that $(2.5) million and $(0.8) million of the net fair value of hedges recognized as a net loss in accumulated other comprehensive income ("AOCI") will be transferred to earnings during the next 12 months and in 2015, respectively, along with the effect of the related forecasted transaction.
Effect of Derivative Instruments on the Consolidated Statements of Income
The following table reflects the effect of derivative instruments on the Consolidated Statements of Income for the years ended December 27, 2013 and December 28, 2012 (U.S. dollars in millions):

 
Derivatives in Cash Flow
Hedging Relationships
Amount of Gain (Loss) Recognized in Other
Comprehensive Income on Derivatives
(Effective Portion)
 
Location of Gain
(Loss) Reclassified
from AOCI into
Income (Effective
Portion)
 
Amount of Gain (Loss) Reclassified from
AOCI into Income (Effective Portion)
 
Year ended
 
 
 
Year ended
 
December 27, 2013
 
December 28, 2012
 
 
 
December 27, 2013
 
December 28, 2012
Foreign exchange contracts
$
8.6

 
$
(18.6
)
 
Net sales
 
$
(6.0
)
 
$
12.1

Foreign exchange contracts
1.6

 
(2.4
)
 
Cost of products sold
 
4.6

 
5.2

Bunker fuel swap agreements (1)
0.1

 
(0.1
)
 
Cost of products sold
 
1.0

 
(0.1
)
Total
$
10.3

 
$
(21.1
)
 
 
 
$
(0.4
)
 
$
17.2

 

(1) The bunker fuel swap agreements had an ineffective portion of less than $0.1 million for the years ended December 27, 2013 and December 28, 2012.