Derivative Financial Instruments (Tables)

3 Months Ended

Jul. 31, 2012

Derivative Financial Instruments [Abstract]

Fair values of derivative instruments

The following table presents the fair values of our derivative instruments as of July 31, 2012. The fair values are presented below on a gross basis, while the fair values of those instruments that are subject to master settlement arrangements are presented on a net basis in the accompanying consolidated balance sheet, in conformity with GAAP.

(Dollars in millions)	Classification	Fair value of derivatives in a gain position		Fair value of derivatives in a loss position
Designated as cash flow hedges:
Currency derivatives	Other current assets	$	9.3	$	(3.3	)
Currency derivatives	Other assets		2.3		(0.3	)
Currency derivatives	Accrued expenses		2.4		(2.6	)
Currency derivatives	Other liabilities		1.0		(1.7	)
Designated as fair value hedges:
Interest rate swaps	Other current assets		0.5		—
Interest rate swaps	Other assets		1.7		—
Not designated as hedges:
Currency derivatives	Accrued expenses		—		(3.8	)

Fair values of derivative instruments affecting statements of operations

		Three Months Ended
		July 31,
(Dollars in millions)	Classification	2011			2012
Currency derivatives designated as cash flow hedge:
Net gain (loss) recognized in AOCI	n/a	$	1.1		$	12.6
Net gain (loss) reclassified from AOCI into income	Net sales		(5.3	)		0.5
Interest rate swaps designated as fair value hedges:
Net gain (loss) recognized in income	Interest expense		0.9			0.3
Net gain (loss) recognized in income*	Other income		0.9			—
*The effect on the hedged item was an equal but offsetting amount for the periods presented.
Derivatives not designated as hedging instruments:
Currency derivatives – net gain (loss) recognized in income	Net sales		0.7			2.4
Currency derivatives – net gain (loss) recognized in income	Other income		(1.2	)		(3.8	)
Commodity derivatives – net gain (loss) recognized in income	Cost of sales		(1.2	)		3.9