XML 39 R32.htm IDEA: XBRL DOCUMENT v2.4.0.8
OTHER (INCOME)/EXPENSES-NET (Tables)
 6 Months Ended
Jun. 30, 2014
Other Income and Expenses [Abstract]  
Components of other expenses/(income)-net
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(In millions)
 
2014
 
2013
 
2014
 
2013
Foreign exchange (gains)/losses - net
 
$
(4.2
)
 
$
0.1

 
$
2.2

 
$
4.8

Administrative penalty (China)
 
—

 
7.4

 
—

 
7.4

Gain on sale of investment
 
—

 
—

 
(4.0
)
 
—

Other - net
 
—

 
3.2

 
(1.7
)
 
3.8

Other (income)/expenses - net
 
$
(4.2
)
 
$
10.7

 
$
(3.5
)
 
$
16.0


Foreign exchange (gains)/losses - net for the three and six months ended June 30, 2014 includes gains in the amount of $6.6 million and $8.6 million, respectively, as a result of the Company’s exchange of Bolivares Fuertes for U.S. dollars through a Venezuela government exchange at a rate more favorable than the rate used to remeasure net monetary assets of its Venezuelan subsidiary. In addition, for the six months ended June 30, 2014, foreign exchange (gains)/losses - net includes a $6.1 million loss related to the Company’s February 2014 adoption of a new exchange rate for purposes of remeasuring the monetary assets and liabilities of its Venezuelan subsidiary. See Note 18 for additional information.