Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Mar. 28, 2014

Fair Value of Derivative Instruments Reported in Condensed Consolidated Balance Sheets

The fair values of derivative instruments reported on the Company’s Condensed Consolidated Balance Sheets were as follows:

	Asset Derivatives					Liability Derivatives
		March 28,		September 27,			March 28,		September 27,
	Balance Sheet	2014		2013		Balance Sheet	2014		2013
(In millions)	Location	Fair Value		Fair Value		Location	Fair Value		Fair Value
Derivatives designated as hedging instruments:
Foreign exchange forward contracts	Prepaid expenses and other current assets	$	-	$	-	Accrued liabilities	$	0.3	$	1.1
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts	Prepaid expenses and other current assets		0.3		-	Accrued liabilities		-		-
Total derivatives		$	0.3	$	-		$	0.3	$	1.1

Outstanding Foreign Currency Forward Contracts

The Company had the following outstanding foreign currency forward contracts that were either (i) entered into to hedge balance sheet exposures from its various foreign subsidiaries and business units or (ii) originally designated as cash flow hedges (primarily in Japanese yen) and were subsequently de-designated when the forecasted revenues were recognized:

	At March 28, 2014
			Notional
	Notional		Value
(In millions)	Value Sold		Purchased
Australian dollar	$	16.7	$	-
Brazilian real		2.4		-
British pound		17.5		-
Canadian dollar		2.8		-
Euro		178.0		-
Japanese yen		153.5		-
Norwegian krone		4.7		-
Swedish krona		5.1		-
Swiss franc		-		45.0
Totals	$	380.7	$	45.0

Effective Portion of Foreign Currency Forward Contracts Designated as Cash Flow Hedges

The following table presents the amounts, before tax, recognized in “Accumulated other comprehensive loss” in the Condensed Consolidated Balance Sheets and in the Condensed Consolidated Statements of Earnings that are related to the effective portion of the foreign currency forward contracts designated as cash flow hedges:

	Gain (Loss) Recognized in Other									Location of Gain	Gain (Loss) Reclassified from Accumulated Other
	Comprehensive Income									(Loss) Reclassified	Comprehensive Income into Net Earnings
	(Effective Portion)									from Accumulated	(Effective Portion)
	Three Months Ended					Six Months Ended				Other Comprehensive	Three Months Ended				Six Months Ended
										Income into Net
	March 28,			March 29,		March 28,		March 29,		Earnings (Effective	March 28,		March 29,		March 28,		March 29,
(In millions)	2014			2013		2014		2013		Portion)	2014		2013		2014		2013
Foreign currency forward contracts	$	(1.1	)	$	2.0	$	2.1	$	2.3	Revenues	$	1.7	$	0.2	$	1.3	$	1.0

Gains (Losses) Related to Foreign Currency Forward Exchange Contracts that are Not Designated as Hedging Instruments

The following table presents the gains (losses) recognized in the Condensed Consolidated Statements of Earnings related to the foreign currency forward exchange contracts that are not designated as hedging instruments:

Location of Gain Recognized in Income on	Amount of Gain (Loss) Recognized in Net					Amount of Gain Recognized in Net
Derivative	Earnings on Derivative					Earnings on Derivative
	Three Months Ended					Six Months Ended
	March 28,			March 29,		March 28,		March 29,
(In millions)	2014			2013		2014		2013
Selling, general and administrative expenses	$	(3.2	)	$	9.8	$	1.5	$	12.3

Cash Flow Hedging

Outstanding Foreign Currency Forward Contracts

The Company had the following outstanding foreign currency forward contracts that were designated as cash flow hedges:

	At March 28, 2014
	Notional Value
(In millions)	Sold
Euro	$	27.2
Total	$	27.2