
	DERIVATIVES AND RISK MANAGEMENT

DERIVATIVE FINANCIAL INSTRUMENTS In the normal course of business, we are exposed to market risk associated with changes in foreign currency exchange rates and interest rates. To manage a portion of these inherent risks, we may purchase certain types of derivative financial instruments based on management's judgment of the trade-off between risk, opportunity and cost. We do not hold or issue derivative financial instruments for trading or speculative purposes. The ineffective portion of any hedge is included in current earnings. The impact of hedge ineffectiveness was not significant in any of the periods presented.

CURRENCY FORWARD CONTRACTS From time to time, we use foreign currency forward contracts to reduce the effects of fluctuations in exchange rates, primarily relating to the Mexican Peso, Euro, Swedish Krona, Polish Zloty and Pound Sterling. We had forward contracts with a notional amount of $67.2 million and $31.9 million outstanding at December 31, 2013 and 2012, respectively.

The following table summarizes the reclassification of pre-tax derivative gains (losses) into net income from accumulated other comprehensive income (loss):



	Location of Gain (Loss) Reclassified into Net Income	Gain (loss) Reclassified During the Twelve Months Ended December 31,					Gain Expected to be Reclassified During the Next 12 Months
	Location of Gain (Loss) Reclassified into Net Income	2013		2012			Gain Expected to be Reclassified During the Next 12 Months
		(in millions)
Currency forward contracts	Cost of Goods Sold	$	2.8	$	(1.8	)	$	0.3

CONCENTRATIONS OF CREDIT RISK In the normal course of business, we provide credit to customers. We periodically evaluate the creditworthiness of our customers and we maintain reserves for potential credit losses.

Sales to GM were approximately 71% of our consolidated net sales in 2013 and 73% of our total consolidated net sales in both 2012 and 2011. Accounts and other receivables due from GM were $278.5 million at year-end 2013 and $325.8 million at year-end 2012. Sales to Chrysler Group LLC (Chrysler) were approximately 12% of our consolidated net sales in 2013, 10% in 2012 and 8% in 2011. Accounts receivable due from Chrysler were $85.9 million at year-end 2013 and $43.5 million at year-end 2012. No other single customer accounted for more than 10% of our consolidated net sales in any year presented.

In addition, our total GM postretirement cost sharing asset was $255.9 million as of December 31, 2013 and $273.0 million as of December 31, 2012. See Note 6 - Employee Benefit Plans for more detail on this cost sharing asset.

We diversify the concentration of invested cash and cash equivalents among different financial institutions and we monitor the selection of counterparties to other financial instruments to avoid unnecessary concentrations of credit risk.