Financial Instruments (Tables)

3 Months Ended

Apr. 04, 2015

Financial Instruments

Fair value and balance sheet locations of derivatives

The following table provides the fair value and balance sheet locations of derivatives as of April 4, 2015:

	Asset			Liability
(In millions)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Foreign exchange contracts	Other current assets	$	10.0	Other accrued liabilities	$	5.0
Commodity contracts	Other current assets	–		Other accrued liabilities	.8
				Long-term retirement benefits and other liabilities	.2
		$	10.0		$	6.0

The following table provides the fair value and balance sheet locations of derivatives as of January 3, 2015:

	Asset			Liability
(In millions)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Foreign exchange contracts	Other current assets	$	10.3	Other accrued liabilities	$	10.5
Commodity contracts	Other current assets	–		Other accrued liabilities	1.0
				Long-term retirement benefits and other liabilities	.2
		$	10.3		$	11.7

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

		Three Months Ended
(In millions)	Location of Gain (Loss) in Income	April 4, 2015		March 29, 2014
Foreign exchange contracts	Cost of products sold	$	1.4	$	(.9)
Foreign exchange contracts	Marketing, general and administrative expense	11.7		1.0
		$	13.1	$	.1

Components of the gain (loss) recognized in income related to cash flow hedges

	Three Months Ended
(In millions)	April 4, 2015			March 29, 2014
Foreign exchange contracts	$	1.5		$	(.3	)
Commodity contracts	(.5		)	.4
	$	1.0		$	.1