Financial Instruments (Tables)

9 Months Ended

Sep. 28, 2013

Financial Instruments

Balances and locations of derivatives

The following table provides the balances and locations of derivatives as of September 28, 2013:

	Asset			Liability
(In millions)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Foreign exchange contracts	Other current assets	$	12.1	Other current liabilities	$	4.5
Commodity contracts	Other current assets	–		Other current liabilities	.3
		$	12.1		$	4.8
The following table provides the balances and locations of derivatives as of December 29, 2012:
	Asset			Liability
(In millions)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Foreign exchange contracts	Other current assets	$	10.0	Other current liabilities	$	2.8
Commodity contracts	Other current assets	–		Other current liabilities	.9
Commodity contracts				Long-term retirement benefits and other liabilities	.1
		$	10.0		$	3.8

Components of gain (loss) recognized in income related to fair value hedge contracts

The corresponding gains or losses on the underlying hedged items approximated the net gain (loss) on these fair value hedge contracts.

		Three Months Ended				Nine Months Ended
(In millions)	Location of Gain (Loss) in Income	September 28, 2013		September 29, 2012		September 28, 2013			September 29, 2012
Foreign exchange contracts	Cost of products sold	$	1.1	$	–	$	1.4		$	(.6	)
Foreign exchange contracts	Marketing, general and administrative expense	9.8		14.1		(7.5		)	12.7
		$	10.9	$	14.1	$	(6.1	)	$	12.1

Components of the gain (loss) recognized in accumulated other comprehensive loss on derivatives

	Three Months Ended						Nine Months Ended
(In millions)	September 28, 2013			September 29, 2012			September 28, 2013			September 29, 2012
Foreign exchange contracts	$	(1.4	)	$	(1.7	)	$	.4		$	(4.5	)
Commodity contracts	–			.2			(.1		)	(.6		)
	$	(1.4	)	$	(1.5	)	$	.3		$	(5.1	)

Components of the gain (loss) reclassified from accumulated other comprehensive loss

		Three Months Ended						Nine Months Ended
(In millions)	Location of Gain (Loss) in Income	September 28, 2013			September 29, 2012			September 28, 2013			September 29, 2012
Foreign exchange contracts	Cost of products sold	$	.5		$	(1.2	)	$	1.3		$	(3.3	)
Commodity contracts	Cost of products sold	(.1		)	(.5		)	(.8		)	(2.2		)
Interest rate contracts	Interest expense	–			(1.1		)	–			(3.2		)
		$	.4		$	(2.8	)	$	.5		$	(8.7	)