DERIVATIVES AND OTHER FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair value of outstanding derivatives

The following table summarizes the Company’s fair value of outstanding derivatives designated as hedging instruments: 

(In millions)
Cash flow hedges:	Balance Sheet Location	June 30, 2013			December 31, 2012
Foreign exchange contracts	Other assets	$	5.7		$	—
Foreign exchange contracts	Accrued expenses	(1.1		)	(5.1		)
Net asset/(liability) of derivatives designated as hedging instruments		$	4.6		$	(5.1	)

Schedule of change in accumulated other comprehensive income (loss) and the impact on earnings from foreign exchange contracts

The change in accumulated other comprehensive income (loss) and the impact on earnings from foreign exchange contracts that qualified as cash flow hedges were as follows: 

(In millions)	2013			2012
Balance—January 1	$	(4.1	)	$	4.3
Derivatives qualifying as cash flow hedges deferred in other comprehensive income	4.0			(4.1		)
Derivatives qualifying as cash flow hedges reclassified to cost of products sold (effective portion)	6.2			(0.5		)
Change in deferred taxes	(2.8		)	1.4
Balance—June 30	$	3.3		$	1.1

Schedule of impact on earnings from interest rate swaps

	Three Months Ended June 30,						Six Months Ended June 30,
(In millions)	2013			2012			2013			2012
Amortization of basis adjustment for terminated interest rate swaps recognized in interest expense	(2.3		)	(2.4		)	(4.6		)	(4.7		)
Total decrease in interest expense	$	(2.3	)	$	(2.4	)	$	(4.6	)	$	(4.7	)