Derivative Instruments (Tables)

9 Months Ended

Oct. 01, 2016

Derivative [Line Items]

Schedule Of Fair Values Of Derivative Instruments

Fair values of derivative instruments as of October 1, 2016 and January 2, 2016 were (in millions):

	October 1, 2016
	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets		Hedging Obligations (current)		Hedging Obligations (noncurrent)
Designated as hedging instruments:
Interest rate swap contracts	$	—	$	—	$	4.6	$	—
Currency contracts	1.2		0.5		32.3		16.7
Commodity contracts	1.3		—		0.5		—
Not designated as hedging instruments:
Currency contracts	0.7		—		0.1		—
Commodity contracts	0.9		0.1		0.8		0.1
Total Derivatives	$	4.1	$	0.6	$	38.3	$	16.8

	January 2, 2016
	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets		Hedging Obligations (current)		Hedging Obligations (noncurrent)
Designated as hedging instruments:
Interest rate swap contracts	$	—	$	—	$	—	$	7.8
Currency contracts	0.7		0.4		29.9		19.5
Commodity contracts	0.1		—		8.7		—
Not designated as hedging instruments:
Currency contracts	0.5		0.6		0.9		0.3
Commodity contracts	5.1		—		5.2		—
Total Derivatives	$	6.4	$	1.0	$	44.7	$	27.6

Schedule Of Derivatives Under Enforceable Master Netting Agreements

The following table presents the derivative assets and derivative liabilities presented on a net basis under enforceable master netting agreements (in millions):

	October 1, 2016
	Gross Amounts as Presented in the Condensed Consolidated Balance Sheet		Derivative Contract Amounts Subject to Right of Offset			Derivative Contracts as Presented on a Net Basis
Prepaid Expenses and Other Current Assets:
Derivative Currency Contracts	$	1.9	$	(0.9	)	$	1.0
Derivative Commodity Contracts	2.2		(1.3		)	0.9
Other Noncurrent Assets:
Derivative Currency Contracts	0.5		(0.2		)	0.3
Derivative Commodity Contracts	0.1		(0.1		)	—
Hedging Obligations (Current):
Derivative Currency Contracts	32.4		(0.9		)	31.5
Derivative Commodity Contracts	1.3		(1.3		)	—
Hedging Obligations:
Derivative Currency Contracts	16.7		(0.2		)	16.5
Derivative Commodity Contracts	0.1		(0.1		)	—

	January 2, 2016
	Gross Amounts as Presented in the Condensed Consolidated Balance Sheet		Derivative Contract Amounts Subject to Right of Offset			Derivative Contracts as Presented on a Net Basis
Prepaid Expenses and Other Current Assets:
Derivative Currency Contracts	$	1.2	$	(1.2	)	$	—
Derivative Commodity Contracts	5.2		(5.2		)	—
Other Noncurrent Assets:
Derivative Currency Contracts	1.0		(1.0		)	—
Hedging Obligations (Current):
Derivative Currency Contracts	30.8		(1.2		)	29.6
Derivative Commodity Contracts	13.9		(5.2		)	8.7
Hedging Obligations:
Derivative Currency Contracts	19.8		(1.0		)	18.8

Designated as hedging instruments:

Derivative [Line Items]

Schedule Of Cash Flow Hedging Instruments

The effect of derivative instruments on the Condensed Consolidated Statements of Income and Comprehensive Income (pre-tax) was as follows:

Derivatives Designated as Cash Flow Hedging Instruments (in millions):

	Three Months Ended
	October 1, 2016												October 3, 2015
	Commodity Forwards			Currency Forwards			Interest Rate Swaps			Total			Commodity Forwards			Currency Forwards			Interest Rate Swaps			Total
Gain (Loss) recognized in Other Comprehensive Income (Loss)	$	(0.5	)	$	(9.9	)	$	0.3		$	(10.1	)	$	(10.1	)	$	(27.3	)	$	(0.7	)	$	(38.1	)
Amounts reclassified from Other Comprehensive Income (Loss):
Gain recognized in Net Sales	—			0.1			—			0.1			—			0.1			—			0.1
Loss recognized in Cost of Sales	(2.4		)	(8.8		)	—			(11.2		)	(3.9		)	(5.9		)	—			(9.8		)
Loss recognized in Interest Expense	—			—			(1.2		)	(1.2		)	—			—			(1.3		)	(1.3		)

	Nine Months Ended
	October 1, 2016												October 3, 2015
	Commodity Forwards			Currency Forwards			Interest Rate Swaps			Total			Commodity Forwards			Currency Forwards			Interest Rate Swaps			Total
Gain (Loss) recognized in Other Comprehensive Income (Loss)	$	1.6		$	(25.5	)	$	(0.4	)	$	(24.3	)	$	(17.6	)	$	(38.4	)	$	(1.6	)	$	(57.6	)
Amounts reclassified from Other Comprehensive Income (Loss):
Gain recognized in Net Sales	—			0.1			—			0.1			—			0.2			—			0.2
Loss recognized in Cost of Sales	(12.1		)	(22.0		)	—			(34.1		)	(13.6		)	(10.7		)	—			(24.3		)
Loss recognized in Interest Expense	—			—			(3.7		)	(3.7		)	—			—			(3.9		)	(3.9		)

Not designated as hedging instruments:

Derivative [Line Items]

Schedule Of Cash Flow Hedging Instruments

Derivatives Not Designated as Cash Flow Hedging Instruments (in millions):

	Three Months Ended
	October 1, 2016				October 3, 2015
	Commodity Forwards		Currency Forwards		Commodity Forwards			Currency Forwards
Loss recognized in Cost of Sales	$	—	$	—	$	(0.1	)	$	—
Loss recognized in Operating Expenses	—		—		—			(4.0		)

	Nine Months Ended
	October 1, 2016					October 3, 2015
	Commodity Forwards		Currency Forwards			Commodity Forwards			Currency Forwards
Gain (Loss) recognized in Cost of Sales	$	0.2	$	—		$	(0.1	)	$	—
Loss recognized in Operating Expenses	—		(0.7		)	—			(4.5		)

Currency Forward Contracts

Derivative [Line Items]

Schedule Of Notional Amounts Of Forward Contracts

As of October 1, 2016, the Company had the following currency forward contracts outstanding (with maturities extending through July 2019) to hedge forecasted foreign currency cash flows (in millions):

	Notional Amount (in US Dollars)
Chinese Renminbi	$	282.0
Mexican Peso	248.1
Euro	58.2
Indian Rupee	33.5
Canadian Dollar	32.9
Australian Dollar	9.1
Japanese Yen	3.2
Thai Baht	4.1
Great Britain Pound	2.6

Commodity Forward Contracts

Derivative [Line Items]

Schedule Of Notional Amounts Of Forward Contracts

As of October 1, 2016, the Company had the following commodity forward contracts outstanding (with maturities extending through December 2017) to hedge forecasted purchases of commodities (notional amounts expressed in terms of the dollar value of the hedged item (in millions):

	Notional Amount
Copper	$	31.9
Aluminum	2.0