DERIVATIVES AND OTHER FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair value of outstanding derivatives

The following table summarizes the fair value of the Company's outstanding derivatives, all of which are cash flow hedges:

(In millions)
Cash flow hedges:	Balance Sheet Location	March 31, 2014			December 31, 2013
Foreign exchange contracts	Other assets	$	1.7		$	4.2
Interest rate forward swaps	Other assets	—			19.9
Commodity contracts	Other assets	0.1			—
Foreign exchange contracts	Accrued expenses	(1.4		)	(0.5		)
Interest rate forward swaps	Accrued expenses	(22.2		)	—
Commodity contracts	Accrued expenses	(0.1		)	—
Net asset/(liability) of derivatives designated as hedging instruments		$	(21.9	)	$	23.6

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)	2014			2013
Balance—January 1	$	3.2		$	(4.1	)
Derivatives qualifying as cash flow hedges deferred in other comprehensive income	(0.3		)	(4.4		)
Derivatives qualifying as cash flow hedges reclassified to cost of products sold (effective portion)	(1.4		)	3.0
Change in deferred taxes	0.4			0.5
Balance—March 31	$	1.9		$	(5.0	)

Schedule of impact on earnings from interest rate swaps

	Three Months Ended March 31,
(In millions)	2014			2013
Amortization of basis adjustment for terminated interest rate swaps recognized in interest expense	$	(2.3	)	$	(2.3	)