Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 28, 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 September 28, 2012:

Foreign Currency Contracts Qualifying as Cash Flow Hedges:	Notional Amount			Bunker Fuel Swap Contracts Qualifying as Cash Flow Hedges:	Notional Amount
Euro	€	217.4	million	3% U.S. Gulf Coast	26,514	barrels
British pound	£	13.8	million	3.5% Rotterdam Barge	5,397	metric tons
Japanese yen	JPY	6,571.6	million
Costa Rican colon	CRC	9,416.3	million
Chilean peso	CLP	939.9	million
Brazilian real	BRL	4.0	million
Kenya shilling	KES	345.8	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 September 28, 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:	September 28, 2012 (2)		December 30, 2011		September 28, 2012
Asset derivatives:
Prepaid expenses and other current assets	$	6.7	$	22.3	$	0.2
Total asset derivatives	$	6.7	$	22.3	$	0.2
Liability derivatives:
Accounts payable and accrued expenses	$	11.1	$	14.8	$	—
Other noncurrent liabilities	$	2.7	$	—	$	—
Total liability derivatives	$	13.8	$	14.8	$	—

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

⁽²⁾ We expect that $4.2 million and $2.7 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 2013, 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 quarters and nine months ended September 28, 2012 and September 30, 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
	September 28, 2012			September 30, 2011				September 28, 2012			September 30, 2011
Foreign exchange contracts	$	(14.9	)	$	20.7		Net sales	$	2.8		$	(6.4	)
Foreign exchange contracts	(0.1		)	(2.8		)	Cost of products sold	1.4			0.3
Bunker fuel swap agreements (1)	1.9			—			Cost of products sold	(0.4		)	—
Total	$	(13.1	)	$	17.9			$	3.8		$	(6.1	)
	Nine months ended							Nine months ended
	September 28, 2012			September 30, 2011				September 28, 2012			September 30, 2011
Foreign exchange contracts	$	(14.8	)	$	16.2		Net sales	$	10.5		$	(18.6	)
Foreign exchange contracts	0.4			(2.0		)	Cost of products sold	3.4			0.7
Bunker fuel swap agreements (1)	0.2			—			Cost of products sold	(0.1		)	—
Total	$	(14.2	)	$	14.2			$	13.8		$	(17.9	)

⁽¹⁾ The bunker fuel swap agreements had an ineffective portion of $0.1 million for the nine months ended September 28, 2012. There was no ineffective portion for the quarter ended September 28, 2012.