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DERIVATIVES AND OTHER FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
Sep. 30, 2015
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, 2015
 
December 31, 2014
Foreign exchange contracts
Cash Flow
Prepaid expenses and other assets
 
$
13.3

 
$
13.0

Interest rate forward swaps
Fair Value
Other assets
 
13.7

 
—

Commodity contracts
Cash Flow
Prepaid expenses and other assets
 
0.7

 
—

Foreign exchange contracts
Cash Flow
Accrued expenses
 
—

 
(0.2
)
Commodity contracts
Cash Flow
Accrued expenses
 
(0.3
)
 
(0.8
)
Interest rate forward swaps
Fair Value
Other liabilities
 
—

 
(0.9
)
Net asset/(liability) of derivatives designated as hedging items
 
 
 
$
27.4

 
$
11.1
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)
 
2015
 
2014
Balance—January 1
 
$
10.4

 
$
3.2

Derivatives qualifying as cash flow hedges deferred in other comprehensive income
 
23.0

 
(0.1
)
Derivatives qualifying as cash flow hedges reclassified to cost of products sold (effective portion)
 
(15.4
)
 
(3.3
)
Change in deferred taxes
 
(0.2
)
 
0.9

Balance—September 30
 
$
17.8

 
$
0.7