Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2014

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):

			Gain / (Loss) on Instrument					Gain / (Loss) on Hedged Item
	Location  on Statement of Earnings		Three Months Ended March 31,					Three Months Ended March 31,
Derivative Instrument			2014		2013			2014			2013
Interest rate swaps		Interest expense	$	5.1	$	(3.3	)	$	(5.1	)	$	3.3

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	2014			2013					2014			2013
Foreign exchange forward contracts	$	(3.9	)	$	45.3			Cost of products sold	$	5.0		$	(5.4	)
Foreign exchange options		—			(0.5	)		Cost of products sold		(0.1	)		(0.1	)
	$	(3.9	)	$	44.8				$	4.9		$	(5.5	)

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 March 31,
Derivative Instrument			2014			2013
Foreign exchange forward contracts		Cost of products sold	$	(2.4	)	$	7.9

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, 2014			December 31, 2013
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Asset Derivatives
Foreign exchange forward contracts	Other current assets	$	50.9	Other current assets	$	60.2
Foreign exchange forward contracts	Other assets		18.8	Other assets		30.2
Interest rate swaps	Other assets		17.1	Other assets		16.3
Total asset derivatives		$	86.8		$	106.7
Liability Derivatives
Foreign exchange forward contracts	Other current liabilities	$	25.4	Other current liabilities	$	26.4
Foreign exchange forward contracts	Other long-term liabilities		13.4	Other long-term liabilities		15.9
Interest rate swaps	Other long-term liabilities		2.7	Other long-term liabilities		7.0
Total liability derivatives		$	41.5		$	49.3

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, 2014						As of December 31, 2013
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	$	50.9	$	13.6	$	37.3	$	60.2	$	13.5	$	46.7
Cash flow hedges	Other assets		18.8		6.9		11.9		30.2		8.2		22.0
Liability Derivatives
Cash flow hedges	Other current liabilities		25.4		13.6		11.8		26.4		13.5		12.9
Cash flow hedges	Other long-term liabilities		13.4		6.9		6.5		15.9		8.2		7.7