Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 29, 2012

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 and bunker fuel swap contracts as of June 29, 2012:

Foreign Currency Contracts Qualifying as Cash Flow Hedges:	Notional Amount			Bunker Fuel Swap Contracts Qualifying as Cash Flow Hedges:	Notional Amount
Euro	€	70.1	million	3% U.S. Gulf Coast	79,011	barrels
British pound	£	3.6	million	3.5% Rotterdam Barge	12,218	metric tons
Japanese yen	JPY	4,749.1	million	Singapore 380	1,870	metric tons
Costa Rican colon	CRC	12,539.9	million
Chilean peso	CLP	1,883.8	million
Brazilian real	BRL	8.0	million
Kenya shilling	KES	729.0	million

Fair Values of Derivative Instruments

The following table reflects the fair values of derivative instruments , all of which are designated as Level 2 of the fair value hierarchy, as of June 29, 2012 and December 30, 2011 (U.S. dollars in millions):

Derivatives Designated as Hedging Instruments (1)
	Foreign exchange contracts				Bunker fuel swap agreements
Balance Sheet Location:	June 29, 2012 (2)		December 30, 2011		June 29, 2012
Asset derivatives:
Prepaid expenses and other current assets	$	12.7	$	22.3	$	—
Total asset derivatives	$	12.7	$	22.3	$	—
Liability derivatives:
Accounts payable and accrued expenses	$	4.7	$	14.8	$	1.7
Total liability derivatives	$	4.7	$	14.8	$	1.7

⁽¹⁾ See Note 16, "Fair Value Measurements", for fair value disclosures.

⁽²⁾ We expect that $6.6 million of the net fair value of hedges recognized as a net gain in accumulated other comprehensive income ("AOCI") will be transferred to earnings during the next 12 mont

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 quarters and six months ended June 29, 2012 and July 1, 2011, respectively (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)
	Quarter ended							Quarter ended
	June 29, 2012			July 1, 2011				June 29, 2012		July 1, 2011
Foreign exchange contracts	$	—		$	(6.2	)	Net sales	$	4.3	$	(9.3	)
Foreign exchange contracts	(0.4		)	1.4			Cost of products sold	0.8		0.3
Bunker fuel swap agreements (1)	(3.5		)	—			Cost of products sold	0.2		—
Total	$	(3.9	)	$	(4.8	)		$	5.3	$	(9.0	)
	Six months ended							Six months ended
	June 29, 2012			July 1, 2011				June 29, 2012		July 1, 2011
Foreign exchange contracts	$	0.1		$	(4.5	)	Net sales	$	7.7	$	(12.2	)
Foreign exchange contracts	0.5			0.9			Cost of products sold	2.0		0.4
Bunker fuel swap agreements (1)	(1.7		)	—			Cost of products sold	0.2		—
Total	$	(1.1	)	$	(3.6	)		$	9.9	$	(11.8	)

⁽¹⁾ The bunker fuel swap agreements had an ineffective portion of $0.1 million for the six months ended June 29, 2012. There was no ineffective portion for the quarter ended June 29, 2012.