Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2013

Derivative Instruments And Hedging Activities Disclosure [Abstract]

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):

			Loss on Instrument						Gain on Hedged Item
Derivative Instrument	Location  on Statement of Earnings		Three Months Ended March 31,						Three Months Ended March 31,
			2013			2012			2013		2012
Interest rate swaps		Interest expense	$	(3.3	)	$	(3.2	)	$	3.3	$	3.2

Gross unrealized losses from derivative instruments

Derivative instruments designated as cash flow hedges had the following effects, before taxes, on 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						Amount of Gain /(Loss) Reclassified from OCI
	Three Months Ended March 31,					Location on Statement of  Earnings	Three Months Ended March 31,
Derivative Instrument	2013			2012			2013			2012
Foreign exchange forward contracts	$	45.3		$	8.0	Cost of products sold	$	(5.4	)	$	(4.1	)
Foreign exchange options		(0.5	)		—	Cost of products sold		(0.1	)		—
Cross-currency interest rate swaps		—			—	Interest expense		—			0.2
	$	44.8		$	8.0		$	(5.5	)	$	(3.9	)

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

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

			Three Months  Ended March 31,
	Location  on Statement of Earnings
Derivative Instrument			2013		2012
Foreign exchange forward contracts		Cost of products sold	$	7.9	$	(1.9	)

Fair value of derivative instruments on a gross basis

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

	March 31, 2013			December 31, 2012
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Asset Derivatives
Foreign exchange forward contracts	Other current assets	$	53.0	Other current assets	$	29.7
Foreign exchange options	Other current assets		0.1	Other current assets		0.6
Foreign exchange forward contracts	Other assets		30.8	Other assets		19.8
Interest rate swaps	Other assets		30.6	Other assets		33.9
Total asset derivatives		$	114.5		$	84.0
Liability Derivatives
Foreign exchange forward contracts	Other current liabilities	$	17.8	Other current liabilities	$	20.2
Foreign exchange forward contracts	Other long-term liabilities		7.8	Other long-term liabilities		12.3
Total liability derivatives		$	25.6		$	32.5

Schedule of Effects of Master Netting Agreements on Condensed Consolidated Balance Sheets

The table below presents the effects of our master netting agreements on our condensed consolidated balance sheets (in millions):

		As of March 31, 2013						As of December 31, 2012
Description	Location	Gross Amount		Offset		Net Amount in Balance Sheet		Gross Amount		Offset		Net Amount in Balance Sheet
Asset Derivatives
Cash flow hedges	Other current assets	$	53.1	$	15.1	$	38.0	$	30.3	$	15.2	$	15.1
Cash flow hedges	Other assets		30.8		7.1		23.7		19.8		6.5		13.3
Liability Derivatives
Cash flow hedges	Other current liabilities		17.8		15.1		2.7		20.2		15.2		5.0
Cash flow hedges	Other long-term liabilities		7.8		7.1		0.7		12.3		6.5		5.8