Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2014

Derivative Instruments and Hedges, Assets [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

Foreign exchange rate forward contracts—The purpose of these instruments is to hedge the risk of changes in future cash flows of anticipated purchase or sale commitments denominated in foreign currencies. At September 30, 2014, we held the following material positions:

	Notional Amount Bought (Sold)
(In millions)			USD Equivalent
Australian dollar	18.7		16.3
British pound	92.2		149.3
Canadian dollar	(141.3	)	(126.4	)
Euro	196.7		247.7
Kuwaiti dinar	(6.5	)	(22.6	)
Malaysian ringgit	159.4		48.6
Norwegian krone	2,711.5		420.9
Russian ruble	(849.1	)	(22.1	)
Singapore dollar	270.5		212.1
Swedish krona	113.6		15.7
U.S. dollar	(996.9	)	(996.9	)

Foreign exchange rate instruments embedded in purchase and sale contracts—The purpose of these instruments is to match offsetting currency payments and receipts for particular projects, or comply with government restrictions on the currency used to purchase goods in certain countries. At September 30, 2014, our portfolio of these instruments included the following material positions:

	Notional Amount Bought (Sold)
(In millions)			USD Equivalent
Brazilian real	(88.3	)	(36.0	)
Norwegian krone	71.6		11.1
U.S. dollar	21.6		21.6

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

	September 30, 2014				December 31, 2013
(In millions)	Assets		Liabilities		Assets		Liabilities
Derivatives designated as hedging instruments:
Foreign exchange contracts:
Current – Derivative financial instruments	$	104.5	$	112.0	$	149.3	$	152.5
Long-term – Derivative financial instruments	40.6		66.0		65.4		44.1
Total derivatives designated as hedging instruments	145.1		178.0		214.7		196.6
Derivatives not designated as hedging instruments:
Foreign exchange contracts:
Current – Derivative financial instruments	21.3		24.0		16.6		18.8
Long-term – Derivative financial instruments	1.2		1.9		3.1		3.0
Total derivatives not designated as hedging instruments	22.5		25.9		19.7		21.8
Total derivatives	$	167.6	$	203.9	$	234.4	$	218.4

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)

	Gain (Loss) Recognized in OCI (Effective Portion)
	Three Months Ended September 30,					Nine Months Ended September 30,
(In millions)	2014			2013		2014		2013
Foreign exchange contracts	$	(51.6	)	$	33.7	(60.5	)	14.0

Derivative Instruments, Gain (Loss) in Income

Location of Gain (Loss) Reclassified from Accumulated OCI into Income	Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)
	Three Months Ended September 30,						Nine Months Ended September 30,
(In millions)	2014			2013			2014			2013
Foreign exchange contracts:
Revenue	$	(12.2	)	$	(3.6	)	$	(27.0	)	$	(5.1	)
Cost of sales	9.1			3.4			29.4			6.4
Selling, general and administrative expense	—			—			—			0.1
Total	$	(3.1	)	$	(0.2	)	$	2.4		$	1.4
Location of Gain (Loss) Recognized in Income	Gain (Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing)
	Three Months Ended September 30,						Nine Months Ended September 30,
(In millions)	2014			2013			2014			2013
Foreign exchange contracts:
Revenue	$	7.2		$	(0.6	)	$	15.9		$	(0.1	)
Cost of sales	(5.9		)	(3.0		)	(19.0		)	(7.2		)
Total	$	1.3		$	(3.6	)	$	(3.1	)	$	(7.3	)

Location of Gain (Loss) Recognized in Income	Gain (Loss) Recognized in Income on Derivatives (Instruments Not Designated as Hedging Instruments)
	Three Months Ended September 30,						Nine Months Ended September 30,
(In millions)	2014			2013			2014			2013
Foreign exchange contracts:
Revenue	$	(1.3	)	$	0.3		$	(3.3	)	$	1.4
Cost of sales	—			0.2			0.3			(0.4		)
Other income (expense), net	12.5			(10.6		)	10.2			(10.3		)
Total	$	11.2		$	(10.1	)	$	7.2		$	(9.3	)

Offsetting Assets

	September 30, 2014							December 31, 2013
(In millions)	Gross Amount Recognized		Gross Amounts Not Offset Permitted Under Master Netting Agreements			Net Amount		Gross Amount Recognized		Gross Amounts Not Offset Permitted Under Master Netting Agreements			Net Amount
Derivative assets	$	167.6	$	(156.6	)	$	11.0	$	234.4	$	(198.5	)	$	35.9

Offsetting Liabilities

	September 30, 2014							December 31, 2013
(In millions)	Gross Amount Recognized		Gross Amounts Not Offset Permitted Under Master Netting Agreements			Net Amount		Gross Amount Recognized		Gross Amounts Not Offset Permitted Under Master Netting Agreements			Net Amount
Derivative liabilities	$	203.9	$	(156.6	)	$	47.3	$	218.4	$	(198.5	)	$	19.9