Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2012

Derivative Instruments Designated as Fair Value Hedges

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

			Gain on Instrument								Loss on Hedged Item
	Location  on Statement of Earnings		Three Months Ended September 30,				Nine Months Ended September 30,				Three Months Ended September 30,						Nine Months Ended September 30,
Derivative Instrument			2012		2011		2012		2011		2012			2011			2012			2011
Interest rate swaps		Interest expense	$	2.7	$	21.2	$	7.8	$	25.2	$	(2.7	)	$	(21.2	)	$	(7.8	)	$	(25.2	)

Gross Unrealized Losses from Derivative Instruments

Derivative instruments designated as cash flow hedges had the following effects, before taxes, on other comprehensive income (OCI) and net earnings on our condensed consolidated statements of earnings, condensed consolidated statements of comprehensive income and condensed consolidated balance sheets (in millions):

	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,
Derivative Instrument	2012			2011			2012			2011				2012			2011			2012			2011
Foreign exchange forward contracts	$	(46.1	)	$	31.8		$	(14.3	)	$	(42.3	)	Cost of products sold	$	(1.6	)	$	(7.0	)	$	(9.4	)	$	(24.4	)
Foreign exchange options		(0.3	)		(2.2	)		(1.4	)		1.5		Cost of products sold		(0.3	)		—			(0.4	)		—
Cross-currency interest rate swaps		—			—			—			0.2		Interest expense		—			(7.9	)		—			(11.4	)
	$	(46.4	)	$	29.6		$	(15.7	)	$	(40.6	)		$	(1.9	)	$	(14.9	)	$	(9.8	)	$	(35.8	)

Gains/(Losses) from Derivative Instruments Recognized in Cost of Products Sold

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

	Location  on Statement of Earnings		Three Months Ended September 30,					Nine Months Ended September 30,
Derivative Instrument			2012			2011		2012			2011
Foreign exchange forward contracts		Cost of products sold	$	(9.8	)	$	9.7	$	(1.2	)	$	(4.0	)

Fair Value of Derivative Instruments on Gross Basis

The fair value of derivative instruments on a gross basis is as follows (in millions):

	September 30, 2012			December 31, 2011
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Asset Derivatives
Foreign exchange forward contracts	Other current assets	$	20.6	Other current assets	$	24.9
Foreign exchange options	Other current assets		0.6	Other current assets		1.4
Foreign exchange forward contracts	Other assets		8.1	Other assets		14.5
Foreign exchange options	Other assets		—	Other assets		1.0
Interest rate swaps	Other assets		35.6	Other assets		27.8
Total asset derivatives		$	64.9		$	69.6
Liability Derivatives
Foreign exchange forward contracts	Other current liabilities	$	31.1	Other current liabilities	$	35.6
Cross -currency interest rate swaps	Other current liabilities		—	Other current liabilities		8.2
Foreign exchange forward contracts	Other long-term liabilities		13.0	Other long-term liabilities		13.1
Total liability derivatives		$	44.1		$	56.9