Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2011

Derivative Financial Instruments

Outstanding commodity and currency forward contracts that were entered into to hedge forecasted transactions

	Units Hedged
Commodity	September 30, 2011	December 31, 2010		Type
Aluminum	1,460	688	MT	Cash Flow
Copper	790	312	MT	Cash Flow
Natural Gas	215,463	304,177	MMBtu	Cash Flow
Steel	11,937	—	Tons	Cash Flow

	Units Hedged
Short Currency	September 30, 2011	December 31, 2010	Type
Canadian Dollar	29,954,694	21,186,951	Cash Flow
Chinese Renminbi	46,406,557	—	Cash Flow
European Euro	74,872,056	43,440,929	Cash Flow
South Korean Won	1,970,968,575	2,245,331,882	Cash Flow
Singapore Dollar	6,720,000	4,140,000	Cash Flow
United States Dollar	10,314,400	8,828,840	Cash Flow
British Pound	—	399,999	Cash Flow

Schedule of currency forward contracts not designated as hedges and location of gain or loss in Statement of Operations

	Units Hedged
Short Currency	September 30, 2011	December 31, 2010	Recognized Location	Purpose
British Pound	—	8,172,569	Other income, net	Accounts Payable and Receivable Settlement
Euro	20,732,338	7,732,026	Other income, net	Accounts Payable and Receivable Settlement
United States Dollar	38,879,449	33,158,979	Other income, net	Accounts Payable and Receivable Settlement
Japanese Yen	190,000,000	—	Other income, net	Accounts Payable and Receivable Settlement

Schedule of the fair value of outstanding derivative contracts recorded as assets in the accompanying consolidated balance sheet

		ASSET DERIVATIVES
		September 30, 2011		December 31, 2010
(in millions)	Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Foreign exchange contracts	Other current assets	$	0.6	$	1.8
Commodity contracts	Other current assets	—		1.1
Interest rate cap contracts	Other non-current assets	0.4		—
Total derivatives designated as hedging instruments		$	1.0	$	2.9

		ASSET DERIVATIVES
		September 30, 2011		December 31, 2010
(in millions)	Balance Sheet Location	Fair Value
Derivatives NOT designated as hedging instruments
Foreign exchange contracts	Other current assets	$	—	$	0.5
Total derivatives NOT designated as hedging instruments		$	—	$	0.5
Total asset derivatives		$	1.0	$	3.4

Schedule of the fair value of outstanding derivative contracts recorded as liabilities in the accompanying consolidated balance sheet

		LIABILITY DERIVATIVES
		September 30, 2011		December 31, 2010
(in millions)	Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Foreign exchange contracts	Accounts payable and accrued expenses	$	5.9	$	0.6
Interest rate swap contracts: Fixed-to-float	Other non-current liabilities	3.0		38.4
Commodity contracts	Accounts payable and accrued expenses	2.8		0.3
Total derivatives designated as hedging instruments		$	11.7	$	39.3

		LIABILITY DERIVATIVES
		September 30, 2011		December 31, 2010
(in millions)	Balance Sheet Location	Fair Value
Derivatives NOT designated as hedging instruments
Foreign exchange contracts	Accounts payable and accrued expenses	$	0.7	$	—
Interest rate swap contracts: Float-to-fixed	Other non-current liabilities	11.9		—
Total derivatives NOT designated as hedging instruments		$	12.6	$	—
Total liability derivatives		$	24.3	$	39.3

Schedule of the effect of derivative instruments on the consolidated statement of operations for gains or losses initially recognized in Other Comprehensive Income (OCI) in the Consolidated Balance Sheet

The effect of derivative instruments on the consolidated statement of operations for the three-months ended September 30, 2011 and September 30, 2010 for gains or losses initially recognized in Other Comprehensive Income (OCI) in the Consolidated Balance Sheet was as follows:

	Amount of Gain or (Loss) Recognized in						Location of Gain or (Loss)	Amount of Gain or (Loss) Reclassified
	OCI on Derivative (Effective Portion,						Reclassified from	from Accumulated OCI into Income
	net of tax)						Accumulated	(Effective Portion)
Derivatives in Cash Flow Hedging	September 30,			September 30,			OCI into Income	September 30,			September 30,
Relationships	2011			2010			(Effective Portion)	2011			2010
Foreign exchange contracts	$	(6.1	)	$	5.2		Cost of sales	$	0.7		$	(1.7	)
Interest rate swap & cap contracts	0.2			(1.8		)	Interest expense	—			(2.5		)
Commodity contracts	(2.0		)	0.3			Cost of sales	(0.1		)	0.3
Total	$	(7.9	)	$	3.7			$	0.6		$	(3.9	)

	Location of Gain or (Loss)
	Recognized in Income on	Amount of Gain or (Loss) Recognized in Income on
	Derivative (Ineffective	Derivative (Ineffective Portion and Amount Excluded
	Portion and Amount	from
Derivatives	Excluded from	Effectiveness Testing)
Relationships	Effectiveness Testing)	September 30, 2011			September 30, 2010
Commodity contracts	Cost of sales	$	(0.1	)	$	0.1
Total		$	(0.1	)	$	0.1

	Location of Gain or (Loss)
	Recognized	Amount of Gain or (Loss) Recognized in Income on
Derivatives Not Designated as	in Income on	Derivative
Hedging Instruments	Derivative	September 30, 2011		September 30, 2010
Foreign exchange contracts	Other income	$	1.5	$	(0.6	)
Interest rate swaps	Other income	2.4		—
Total		$	3.9	$	(0.6	)

The effect of derivative instruments on the consolidated statement of operations for the nine-months ended September 30, 2011 and September 30, 2010 for gains or losses initially recognized in Other Comprehensive Income (OCI) in the Consolidated Balance Sheet was as follows:

	Amount of Gain or (Loss) Recognized in						Location of Gain or (Loss)	Amount of Gain or (Loss) Reclassified
	OCI on Derivative (Effective Portion,						Reclassified from	from Accumulated OCI into Income
	net of tax)						Accumulated	(Effective Portion)
Derivatives in Cash Flow Hedging	September 30,			September 30,			OCI into Income	September 30,			September 30,
Relationships	2011			2010			(Effective Portion)	2011			2010
Foreign exchange contracts	$	(4.2	)	$	0.5		Cost of sales	$	4.1		$	(4.2	)
Interest rate swap & cap contracts	1.3			(8.8		)	Interest expense	(5.3		)	(7.9		)
Commodity contracts	(2.3		)	(0.5		)	Cost of sales	0.2			0.8
Total	$	(5.2	)	$	(8.8	)		$	(1.0	)	$	(11.3	)

Derivatives	Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from	Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
Relationships	Effectiveness Testing)	September 30, 2011			September 30, 2010
Commodity contracts	Cost of sales	$	(0.1	)	$	0.1
Total		$	(0.1	)	$	0.1

Derivatives Not Designated as	Location of Gain or (Loss) Recognized in Income on	Amount of Gain or (Loss) Recognized in Income on Derivative
Hedging Instruments	Derivative	September 30, 2011			September 30, 2010
Foreign exchange contracts	Other income	$	(1.2	)	$	(0.4	)
Interest rate swaps	Other income	2.4			$	—
Total		$	1.2		$	(0.4	)

Schedule of Fair Market Value designated derivative instruments on the consolidated statement of operations for gains or losses recognized through income

The effect of Fair Market Value designated derivative instruments on the consolidated statement of operations for the three-months ended September 30, 2011 and September 30, 2010 for gains or losses recognized through income was as follows:

Derivatives Designated as Fair Market Value	Location of Gain or (Loss) Recognized in	Amount of Gain or (Loss) Recognized in Income on Derivative
Instruments under ASC 815	Income on Derivative	September 30, 2011		September 30, 2010
Interest rate swap contracts	Interest expense	$	7.1	$	—
Total		$	7.1	$	—

The effect of Fair Market Value designated derivative instruments on the consolidated statement of operations for the nine-months ended September 30, 2011 and September 30, 2010 for gains or losses recognized through income was as follows:

Derivatives Designated as Fair Market Value	Location of Gain or (Loss) Recognized in	Amount of Gain or (Loss) Recognized in Income on Derivative
Instruments under ASC 815	Income on Derivative	September 30, 2011		September 30, 2010
Interest rate swap contracts	Interest expense	$	18.8	$	—
Total		$	18.8	$	—