DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2012

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			2012		2011		2010		2012			2011			2010
Interest rate swaps		Interest expense	$	6.1	$	26.3	$	1.5	$	(6.1	)	$	(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	2012			2011			2010		Location on Statement of Earnings	2012			2011			2010
Foreign exchange forward contracts	$	16.3		$	(34.9	)	$	11.2	Cost of products sold	$	(12.0	)	$	(32.9	)	$	7.3
Foreign exchange options		(1.1	)		(0.2	)		0.3	Cost of products sold		(0.4	)		–			–
Cross-currency interest rate swaps		–			0.2			–	Interest expense		0.2			(8.3	)		–
	$	15.2		$	(34.9	)		$11.5		$	(12.2	)	$	(41.2	)	$	7.3

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		2012			2011		2010
Foreign exchange forward contracts	Cost of products sold	$	(2.0	)	$	2.7	$	3.3

Fair value of derivative instruments on a gross basis

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

	As of December 31, 2012			As of December 31, 2011
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Asset Derivatives
Foreign exchange forward contracts	Other current assets	$	29.7	Other current assets	$	24.9
Foreign exchange options	Other current assets		0.6	Other current assets		1.4
Foreign exchange forward contracts	Other assets		19.8	Other assets		14.5
Foreign exchange options	Other assets		–	Other assets		1.0
Interest rate swaps	Other assets		33.9	Other assets		27.8
Total asset derivatives		$	84.0		$	69.6
Liability Derivatives
Foreign exchange forward contracts	Other current liabilities	$	20.2	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		12.3	Other long-term liabilities		13.1
Total liability derivatives		$	32.5		$	56.9