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Derivative Instruments and Hedging Activities (Tables)
9 Months Ended
Sep. 30, 2011
Derivative Instruments and Hedging Activities [Abstract] 
Derivative instruments designated as fair value hedges
                                                                     

Derivative Instrument

 

Location on
Statement of Earnings

  Gain on Instrument     Loss on Hedged Item  
    Three Months
Ended
September 30,
    Nine Months
Ended
September 30,
    Three Months
Ended
September 30,
    Nine Months
Ended
September 30,
 
    2011     2010     2011     2010     2011     2010     2011     2010  

Interest rate swaps

  Interest expense, net   $ 21.2     $     $ 25.2     $     $ (21.2   $     $ (25.2   $  
Gross unrealized losses from derivative instruments
                                                                     

Derivative Instrument

  Amount of
Gain / (Loss)
Recognized in OCI
   

Location on
Statement of Earnings

  Amount of
Gain / (Loss)
Reclassified from OCI
 
  Three Months
Ended
September 30,
    Nine Months
Ended
September 30,
      Three Months
Ended
September 30,
    Nine Months
Ended
September 30,
 
    2011         2010         2011         2010           2011         2010         2011         2010    

Foreign exchange forward contracts

  $ 31.8     $ (49.3   $ (42.3   $ 9.6    

Cost of products sold

  $ (7.0   $ 5.0     $ (24.4   $ 12.6  

Foreign exchange options

    (2.2           1.5          

Cost of products sold

                       

Cross-currency interest rate swaps

                0.2          

Interest expense, net

    (7.9           (11.4      
   

 

 

   

 

 

   

 

 

   

 

 

       

 

 

   

 

 

   

 

 

   

 

 

 
    $ 29.6     $ (49.3   $ (40.6   $ 9.6         $ (14.9   $ 5.0     $ (35.8   $ 12.6  
   

 

 

   

 

 

   

 

 

   

 

 

       

 

 

   

 

 

   

 

 

   

 

 

 
Gains/(losses) from derivative instruments recognized in cost of products sold
                                     

Derivative Instrument

 

Location on
Statement of Earnings

  Three Months Ended
September 30,
    Nine Months Ended
September 30,
 
        2011             2010             2011             2010      

Foreign exchange forward contracts

  Cost of products sold   $ 9.7     $ (14.7   $ (4.0   $ 3.6  
Fair value of derivative instruments on gross basis
                         
   

September 30, 2011

   

December 31, 2010

 
   

Balance

Sheet

Location

  Fair
Value
   

Balance

Sheet

Location

  Fair
Value
 

Asset Derivatives

                       

Foreign exchange forward contracts

  Other current assets   $ 26.1     Other current assets   $ 32.2  

Foreign exchange options

  Other current assets     2.3     Other current assets     0.4  

Foreign exchange forward contracts

  Other assets     12.5     Other assets     11.6  

Foreign exchange options

  Other assets     1.8     Other assets     2.3  

Interest rate swaps

  Other assets     26.7     Other assets     1.5  
       

 

 

       

 

 

 

Total asset derivatives

      $ 69.4         $ 48.0  
       

 

 

       

 

 

 

Liability Derivatives

                       

Foreign exchange forward contracts

  Other current liabilities   $ 43.6     Other current liabilities   $ 37.6  

Cross-currency interest rate swaps

  Other current liabilities     11.2     Other current liabilities      

Foreign exchange forward contracts

  Other long-term liabilities     17.6     Other long-term liabilities     14.4  
       

 

 

       

 

 

 

Total liability derivatives

      $ 72.4         $ 52.0