Financial Instruments (Tables)

9 Months Ended

Oct. 01, 2011

Financial Instruments [Abstract]

Fair values of derivative instruments

As of October 1, 2011, the fair values of the Company's derivative instruments were:

(in millions)
	Derivative Assets			Derivative Liabilities
Instrument	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Foreign exchange contracts	Prepaid expenses and other	$	5.3	Accrued expenses	$	1.0
Commodity contracts	Prepaid expenses and other		0.4	Accrued expenses		2.2
Interest rate contracts	Prepaid expenses and other		-	Accrued expenses		2.5
Total		$	5.7		$	5.7

As of December 31, 2010, the fair values of the Company's derivative instruments were:

(in millions)
	Derivative Assets			Derivative Liabilities
Instrument	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Foreign exchange contracts	Prepaid expenses and other	$	1.1	Accrued expenses	$	3.4
Commodity contracts	Prepaid expenses and other		2.4	Accrued expenses		0.2
Total		$	3.5		$	3.6

Consolidated Statement of Operations - effect of derivative instruments

The effect of derivative instruments on the Consolidated Statement of Operations for the three months ended October 1, 2011 was:

(in millions)
Fair Value Hedging Instruments	Location of Gain on Derivatives Recognized in Earnings	Amount of Gain on  Derivatives Recognized in Earnings
Foreign exchange contracts	Cost of sales	$	1.2
Foreign exchange contracts	Other income (expense), net		0.2
Total		$	1.4

Cash Flow Hedge Instruments	Amount of Gain (Loss) on Derivatives Recognized in Accumulated Other Comprehensive Loss (Effective Portion)			Location of Gain (Loss) Reclassified  from Accumulated Other  Comprehensive Loss into Earnings (Effective Portion)	Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into  Earnings (Effective Portion)
Interest rate contracts	$	(2.5	)	Interest expense	$	0.2
Foreign exchange contracts		3.9		Cost of sales		(3.3	)
Commodity contracts		(2.5	)	Cost of sales		0.9
Total	$	(1.1	)		$	(2.2	)

The effect of derivative instruments on the Consolidated Statement of Operations for the nine months ended October 1, 2011 was:

(in millions)
Fair Value Hedging Instruments	Location of Gain (Loss) on Derivatives Recognized in Earnings	Amount of Gain (Loss)  on Derivatives Recognized in Earnings
Foreign exchange contracts	Cost of sales	$	(1.1	)
Foreign exchange contracts	Other income (expense), net		0.1
Total		$	(1.0	)

Cash Flow Hedge Instruments	Amount of Loss on Derivatives Recognized in Accumulated Other Comprehensive Loss (Effective Portion)			Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings  (Effective Portion)	Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings (Effective Portion)
Interest rate contracts	$	(2.5	)	Interest expense	$	0.7
Foreign exchange contracts		(2.8	)	Cost of sales		(9.4	)
Commodity contracts		(1.3	)	Cost of sales		2.8
Total	$	(6.6	)		$	(5.9	)

The effect of derivative instruments on the Consolidated Statement of Operations for the three months ended October 2, 2010 was:

(in millions)
Fair Value Hedging Instruments	Location of Loss on Derivatives Recognized in Earnings (Loss)	Amount of Loss on Derivatives Recognized in Earnings (Loss)
Foreign exchange contracts	Cost of sales	$	(2.2	)
Foreign exchange contracts	Other income (expense), net		(0.2	)
Total		$	(2.4	)

Cash Flow Hedge Instruments	Amount of Gain (Loss) on Derivatives Recognized in Accumulated Other Comprehensive Loss (Effective Portion)			Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings (Loss) (Effective Portion)	Amount of Gain Reclassified from Accumulated Other Comprehensive Loss into Earnings (Loss) (Effective Portion)
Interest rate contracts	$	-		Interest expense	$	0.2
Foreign exchange contracts		(5.4	)	Cost of sales		2.0
Commodity contracts		1.6		Cost of sales		0.5
Total	$	(3.8	)		$	2.7

The effect of derivative instruments on the Consolidated Statement of Operations for the nine months ended October 2, 2010 was:

(in millions)
Fair Value Hedging Instruments	Location of Gain on Derivatives  Recognized in Earnings (Loss)	Amount of Gain on Derivatives Recognized  in Earnings (Loss)
Foreign exchange contracts	Cost of sales	$	1.8
Foreign exchange contracts	Other income (expense), net		0.3
Total		$	2.1

 

Cash Flow Hedge Instruments	Amount of Loss on Derivatives Recognized in Accumulated Other Comprehensive Loss (Effective Portion)			Location of Gain Reclassified from  Accumulated Other Comprehensive Loss into Earnings (Loss) (Effective Portion)	Amount of Gain Reclassified from Accumulated Other Comprehensive Loss into Earnings (Loss) (Effective Portion)
Interest rate contracts	$	-		Interest expense	$	0.7
Foreign exchange contracts		(0.2	)	Cost of sales		2.2
Commodity contracts		(0.9	)	Cost of sales		1.0
Total	$	(1.1	)		$	3.9