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DERIVATIVES AND OTHER FINANCIAL INSTRUMENTS (Tables)
9 Months Ended
Sep. 30, 2011
DERIVATIVES AND OTHER FINANCIAL INSTRUMENTS 
Schedule Of Fair Value Of Outstanding Derivatives

 

 

(In millions)

 

Balance Sheet Location

 

September 30, 2011

 

December 31, 2010

 

Cash flow hedges:

 

 

 

 

 

 

 

Foreign exchange contracts

 

Accrued expenses

 

$

 

$

(2.3

)

Foreign exchange contracts

 

Other assets

 

9.8

 

 

Fair value hedges:

 

 

 

 

 

 

 

Interest rate swaps

 

Other assets

 

 

20.1

 

 

 

 

 

 

 

 

 

Net asset of derivatives designated as hedging instruments

 

 

 

$

9.8

 

$

17.8

 

Schedule Of Change In Accumulated Other Comprehensive Income (Loss) And The Impact On Earnings From Foreign Exchange Contracts

 

 

(In millions)

 

2011

 

2010

 

Balance—January 1:

 

$

(1.8

)

$

(2.9

)

Derivatives qualifying as cash flow hedges deferred in other comprehensive income

 

5.9

 

(3.4

)

Derivatives qualifying as cash flow hedges reclassified to cost of products sold (effective portion)

 

5.4

 

6.6

 

Change in deferred taxes

 

(3.3

)

(0.9

)

 

 

 

 

 

 

Balance—September 30:

 

$

6.2

 

$

(0.6

)

(Gain) Loss On Marked To Market Of Fair Value Hedges

 

 

(In millions)

 

Three Months Ended
September 30, 2011

 

Nine Months Ended
September 30, 2011

 

(Gain) loss on marked to market of swaps

 

$

(0.4

)

$

(4.2

)

(Gain) loss on marked to market of hedged items

 

$

0.4

 

$

4.2

 

Schedule Of Impact On Earnings From Interest Rate Swaps

 

 

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

(In millions)

 

2011

 

2010

 

2011

 

2010

 

Recognized in interest expense

 

$

(0.4

)

$

(4.4

)

$

(6.3

)

$

(13.6

)

Amortization of basis adjustment for terminated interest rate swaps recognized in interest expense

 

(2.1

)

 

(3.1

)

 

Total increase (decrease) in interest expense

 

$

(2.5

)

$

(4.4

)

$

(9.4

)

$

(13.6

)