Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2011

Derivative Instruments and Hedging Activities [Abstract]

Derivative instruments designated as fair value hedges

Derivative instruments designated as fair value hedges had the following effects on our consolidated statement of earnings (in millions):

		Gain on Instrument				Loss on Hedged Item
	Location on Statement of Earnings	Year Ended December 31,				Year Ended December 31,
Derivative Instrument		2011		2010		2011			2010
Interest rate swaps	Interest expense	$	26.3	$	1.5	$	(26.3	)	$	(1.5	)

Gross unrealized losses from derivative instruments

Derivative instruments designated as cash flow hedges had the following effects on other comprehensive income (OCI) on our consolidated balance sheet and our consolidated statement of earnings (in millions):

	Amount of Gain / (Loss) Recognized in OCI									Amount of Gain / (Loss) Reclassified from OCI
	Year Ended December 31,									Year Ended December 31,
Derivative Instrument	2011			2010		2009			Location on Statement of Earnings	2011			2010		2009
Foreign exchange forward contracts	$	(34.9	)	$	11.2	$	(35.8	)	Cost of products sold	$	(32.9	)	$	7.3	$	16.8
Foreign exchange options		(0.2	)		0.3		(2.0	)	Cost of products sold		–			–		1.2
Cross-currency interest rate swaps		0.2			–		–		Interest expense		(8.3	)		–		–
	$	(34.9	)	$	11.5	$	(37.8	)		$	(41.2	)	$	7.3	$	18.0

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

The following gains/(losses) from these derivative instruments were recognized on our consolidated statement of earnings (in millions):

	Location on Statement of Earnings	Year Ended December 31,
Derivative Instrument		2011		2010		2009
Foreign exchange forward contracts	Cost of products sold	$	2.7	$	3.3	$	(10.3	)
Total		$	2.7	$	3.3	$	(10.3	)

Fair value of derivative instruments on gross basis

	As of December 31, 2011			As of December 31, 2010
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Asset Derivatives
Foreign exchange forward contracts	Other current assets	$	24.9	Other current assets	$	32.2
Foreign exchange options	Other current assets		1.4	Other current assets		0.4
Foreign exchange forward contracts	Other assets		14.5	Other assets		11.6
Foreign exchange options	Other assets		1.0	Other assets		2.3
Interest rate swaps	Other assets		27.8	Other assets		1.5
Total asset derivatives		$	69.6		$	48.0
Liability Derivatives
Foreign exchange forward contracts	Other current liabilities	$	35.6	Other current liabilities	$	37.6
Cross-currency interest rate swaps	Other current liabilities		8.2	Other current liabilities		–
Foreign exchange forward contracts	Other long-term liabilities		13.1	Other long-term liabilities		14.4
Total liability derivatives		$	56.9		$	52.0