Derivative Financial Instruments (Tables)

9 Months Ended

Jan. 31, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair values of derivative instruments

The following table presents the fair values of our derivative instruments as of January 31, 2013.  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	$	1.9	$	(0.4	)
Currency derivatives	Other assets	0.4		(0.3		)
Currency derivatives	Accrued expenses	3.4		(13.9		)
Currency derivatives	Other liabilities	0.9		(3.8		)
Designated as fair value hedges:
Interest rate swaps	Other current assets	1.8		—
Not designated as hedges:
Currency derivatives	Other current assets	0.4		—
Currency derivatives	Accrued expenses	0.4		(0.2		)

Fair values of derivative instruments affecting statements of operations

The following tables present the amounts affecting our consolidated statements of operations for the periods covered by this report:

		Three Months Ended
		January 31,
(Dollars in millions)	Classification	2012			2013
Currency derivatives designated as cash flow hedge:
Net gain (loss) recognized in AOCI	n/a	$	7.9		$	(4.4	)
Net gain (loss) reclassified from AOCI into income	Net sales	0.5			(1.4		)
Interest rate swaps designated as fair value hedges:
Net gain (loss) recognized in income	Interest expense	0.7			0.3
Net gain (loss) recognized in income*	Other income	(0.6		)	(0.3		)
*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	5.4			(0.6		)
Currency derivatives – net gain (loss) recognized in income	Other income	—			0.9
Commodity derivatives – net gain (loss) recognized in income	Cost of sales	(0.8		)	—

		Nine Months Ended
		January 31,
(Dollars in millions)	Classification	2012			2013
Currency derivatives designated as cash flow hedge:
Net gain (loss) recognized in AOCI	n/a	$	13.7		$	(5.8	)
Net gain (loss) reclassified from AOCI into income	Net sales	(7.7		)	(0.7		)
Interest rate swaps designated as fair value hedges:
Net gain (loss) recognized in income	Interest expense	2.5			0.8
Net gain (loss) recognized in income*	Other income	(0.1		)	(0.5		)
*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	8.9			(1.6		)
Currency derivatives – net gain (loss) recognized in income	Other income	(1.6		)	(0.7		)
Commodity derivatives – net gain (loss) recognized in income	Cost of sales	(2.8		)	3.9