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Derivatives (Tables)
12 Months Ended
Dec. 31, 2011
Derivatives [Abstract]  
Amounts related to cash flow hedges
                 
    As of December 31,  
    2011     2010  

Commodity Price Hedges:

               

Losses (gains) included in AOCI

  $ 6.1     $ (11.7

(Benefit from) provision for income taxes

    (3.5     6.7  

Interest Rate Swap:

               

Losses included in AOCI

  $ 1.1     $ 2.3  

Benefit from income taxes

    (0.6     (1.3
Outstanding commodity futures contracts designated as cash flow hedges
                 
    As of December 31,  
     2011     2010  
    (Pounds)     (Pounds)  

Copper

    23.3       18.5  
Outstanding commodity futures contracts not designated as cash flow hedges
                 
     As of December 31,  
     2011     2010  
    (Pounds)     (Pounds)  

Copper

    2.8       1.4  

Aluminum

    3.0       1.4  
Outstanding foreign currency forward contracts not designated as cash flow hedges
                 
     As of December 31,  
    2011     2010  

Notional amounts:

               

Brazilian Reals

    4.5       5.6  

U.S. Dollars

    2.0        

Mexican Pesos

    172.0       138.0  

Euros

    7.8       15.6  

British Pounds

    6.5       2.0  
Location and amounts of derivative fair values in Consolidated Balance Sheets and derivative gains and losses in Consolidated Statements of Operations
                                 
    Fair Values of Derivative Instruments(1)  
     Derivatives
Designated  as
Hedging
Instruments
As of December 31,
    Derivatives Not
Designated as

Hedging Instruments
As of December 31,
 
    2011     2010     2011     2010  

Current Assets:

                               

Other Assets

                               

Commodity futures contracts

  $     $ 17.4     $     $ 1.4  

Foreign currency forward contracts

                1.2       0.2  

Non-Current Assets:

                               

Other Assets, net

                               

Commodity futures contracts

    0.1       1.3             0.1  
   

 

 

   

 

 

   

 

 

   

 

 

 

Total Assets

  $ 0.1     $ 18.7     $ 1.2     $ 1.7  
   

 

 

   

 

 

   

 

 

   

 

 

 

Current Liabilities:

                               

Accrued Expenses

                               

Commodity futures contracts

  $ 9.4     $     $ 1.8     $  

Interest rate swap

    1.8       2.2              

Foreign currency forward contracts

                0.1        

Non-Current Liabilities:

                               

Other Liabilities

                               

Commodity futures contracts

    0.3             0.2        

Interest rate swap

          1.4              
   

 

 

   

 

 

   

 

 

   

 

 

 
         

Total Liabilities

  $ 11.5     $ 3.6       $2.1       $—  
   

 

 

   

 

 

   

 

 

   

 

 

 

 

(1) All our derivative instruments are classified as Level 2 within the fair value hierarchy. For more information on other fair value measurements, see Note 22.
Effect of Derivative Instruments on Consolidated Statements of Operations

Derivatives in Cash Flow Hedging Relationships

 

                         
     For the Years Ended
December 31,
 
     2011     2010     2009  

Amount of Loss or (Gain) Reclassified from AOCI into Income (Effective Portion):

                       

Commodity futures contracts(1)

  $ (12.1   $ (11.2   $ 19.6  

Interest rate swap(2)

    2.5       2.4       1.3  
   

 

 

   

 

 

   

 

 

 
    $ (9.6   $ (8.8   $ 20.9  
   

 

 

   

 

 

   

 

 

 

Amount of (Gain) or Loss Recognized in Income on Derivatives (Ineffective Portion):

                       

Commodity futures contracts(3)

  $ 0.1     $ (0.4   $ (0.1

Derivatives Not Designated as Hedging Instruments

 

                         
     For the Years Ended
December 31,
 
     2011     2010     2009  

Amount of (Gain) or Loss Recognized in Income on Derivatives:

                       

Commodity futures contracts(3)

  $ 3.5     $ (1.7   $ (3.4

Foreign currency forward contracts(3)

    0.3       (0.2     3.1  
   

 

 

   

 

 

   

 

 

 
    $  3.8     $ (1.9   $ (0.3
   

 

 

   

 

 

   

 

 

 

 

 

(1) The loss (gain) is recorded in Cost of Goods Sold in the accompanying Consolidated Statements of Operations.

 

(2) The loss (gain) is recorded in Interest expense, net in the accompanying Consolidated Statements of Operations.

 

(3) The loss (gain) is recorded in Losses (gains) and other expenses, net in the accompanying Consolidated Statements of Operations.