XML 79 R38.htm IDEA: XBRL DOCUMENT v2.4.0.8
DERIVATIVES AND OTHER FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
Sep. 30, 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:
(In millions)
Hedge Designation
 
Balance Sheet 
Location
 
September 30, 2014
 
December 31, 2013
Foreign exchange contracts
Cash Flow
 
Other assets
 
$
3.0

 
$
4.2

Interest rate forward swaps
Cash Flow
 
Other assets
 
—

 
19.9

Commodity contracts
Cash Flow
 
Other assets
 
—

 
—

Foreign exchange contracts
Cash Flow
 
Accrued expenses
 
(0.2
)
 
(0.5
)
Commodity contracts
Cash Flow
 
Accrued expenses
 
(0.4
)
 
—

Interest rate swaps
Fair Value
 
Other Liabilities
 
(8.4
)
 
—

Net asset/(liability) position of derivatives designated as hedging instruments
 
$
(6.0
)
 
$
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
 
(0.1
)
 
5.2

Derivatives qualifying as cash flow hedges reclassified to cost of products sold (effective portion)
 
(3.3
)
 
5.7

Change in deferred taxes
 
0.9

 
(3.0
)
Balance—September 30
 
$
0.7

 
$
3.8