Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 29, 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 and bunker fuel swap contracts as of March 29, 2013:

Foreign Currency Contracts Qualifying as Cash Flow Hedges:	Notional Amount			Bunker Fuel Swap Contracts Qualifying as Cash Flow Hedges:	Notional Amount
Euro	€	244.4	million	3% U.S. Gulf Coast	9,000	metric tons
British pound	£	17.7	million
Japanese yen	JPY	5,547.6	million
Costa Rican colon	CRC	46,274.0	million
Brazilian real	BRL	10.2	million
Kenya shilling	KES	860.6	million
Philippine peso	PHP	50.1	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 March 29, 2013 and December 28, 2012 (U.S. dollars in millions):

Derivatives Designated as Hedging Instruments (1)
	Foreign exchange contracts				Bunker fuel swap agreements
Balance Sheet Location:	March 29, 2013		December 28, 2012 (2)		March 29, 2013
Asset derivatives:
Prepaid expenses and other current assets	$	14.7	$	4.6	$	0.2
Other noncurrent assets	1.6		—		—
Total asset derivatives	$	16.3	$	4.6	$	0.2
Liability derivatives:
Accounts payable and accrued expenses	$	6.0	$	18.4	$	—
Other noncurrent liabilities	—		0.1		—
Total liability derivatives	$	6.0	$	18.5	$	—

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

⁽²⁾ We expect that $8.9 million and $1.6 million of the net fair value of hedges recognized as a net gain in AOCI will be transferred to earnings during the next 12 months and last nine months of 2014, 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 ended March 29, 2013 and March 30, 2012, 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
	March 29, 2013		March 30, 2012			March 29, 2013			March 30, 2012
Foreign exchange contracts	$	20.0	$	0.1	Net sales	$	(2.2	)	$	3.4
Foreign exchange contracts	3.7		0.8		Cost of products sold	0.6			1.1
Bunker fuel swap agreements (1)	0.2		1.9		Cost of products sold	—			—
Total	$	23.9	$	2.8		$	(1.6	)	$	4.5

⁽¹⁾ The bunker fuel swap agreements had an ineffective portion of $0.1 million for the quarters ended March 29, 2013 and March 30, 2012.