Financial Instruments (Tables)

9 Months Ended

Oct. 03, 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 October 3, 2015:

	Asset			Liability
(In millions)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Foreign exchange contracts	Other current assets	$	4.4	Other accrued liabilities	$	8.1
Commodity contracts	Other current assets	–		Other accrued liabilities	.8
				Long-term retirement benefits and other liabilities	.1
		$	4.4		$	9.0
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						Nine Months Ended
(In millions)	Location of Net Gains (Losses) in Income	October 3, 2015			September 27, 2014			October 3, 2015			September 27, 2014
Foreign exchange contracts	Cost of products sold	$	2.3		$	–		$	3.3		$	(3.0	)
Foreign exchange contracts	Marketing, general and administrative expense	(19.9		)	(25.7		)	(15.9		)	(28.2		)
		$	(17.6	)	$	(25.7	)	$	(12.6	)	$	(31.2	)

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

	Three Months Ended						Nine Months Ended
(In millions)	October 3, 2015			September 27, 2014			October 3, 2015			September 27, 2014
Foreign exchange contracts	$	2.7		$	.7		$	1.2		$	(1.5	)
Commodity contracts	(1.7		)	(.3		)	(.5		)	(.1		)
	$	1.0		$	.4		$	.7		$	(1.6	)