DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jul. 02, 2011

DERIVATIVE FINANCIAL INSTRUMENTS

Summary of fair value of derivative instruments and the balance sheet classification

	July 2, 2011				December 31, 2010
	Balance Sheet Classification	Fair Value			Balance Sheet Classification	Fair Value
Derivative contracts designated as hedging instruments:
Commodity contracts	Other current assets	$	0.4		Other current assets	$	1.0
FX forward contracts	Other current assets	0.1			—	—
		$	0.5			$	1.0
FX forward contracts	Accrued expenses	$	(0.2	)	Accrued expenses	$	(2.9	)
		$	(0.2	)		$	(2.9	)
Derivative contracts not designated as hedging instruments:
FX forward contracts	Other current assets	$	3.9		Other current assets	$	0.5
FX embedded derivatives	Other current assets	1.1			Other current assets	2.6
		$	5.0			$	3.1
FX forward contracts	Accrued expenses	$	(0.1	)	Accrued expenses	$	(1.4	)
FX embedded derivatives	Accrued expenses	(5.0		)	Accrued expenses	(1.8		)
FX embedded derivatives	Other long-term liabilities	(24.0		)	Other long-term liabilities	(33.2		)
		$	(29.1	)		$	(36.4	)

Schedule of effect on AOCI and the Statements of Operations of derivative financial instruments in cash flow hedging relationships

The following summarizes the effect of derivative financial instruments in cash flow hedging relationships on AOCI and the condensed consolidated statements of operations for the three months ended July 2, 2011 and July 3, 2010:

	Amount of gain (loss) recognized in AOCI, pre-tax (1)					Classification of gain (loss)	Amount of gain (loss) reclassified from AOCI to income, pre-tax (1)
	2011		2010			reclassified from AOCI	2011		2010
Swaps	$	—	$	(2.0	)	Interest expense	$	—	$	(5.2	)
FX forward contracts	0.5		(1.2		)	Cost of products sold	0.1		—
FX embedded derivatives	—		0.8			Cost of products sold	—		0.4
Commodity contracts	0.2		(1.1		)	Cost of products sold	0.4		0.3
	$	0.7	$	(3.5	)		$	0.5	$	(4.5	)

The following summarizes the effect of derivative financial instruments in cash flow hedging relationships on AOCI and the condensed consolidated statements of operations for the six months ended July 2, 2011 and July 3, 2010:

	Amount of gain (loss) recognized in AOCI, pre-tax (1)					Classification of gain (loss)	Amount of gain (loss) reclassified from AOCI to income, pre-tax (1)
	2011		2010			reclassified from AOCI	2011			2010
Swaps	$	—	$	(6.2	)	Interest expense	$	—		$	(10.8	)
FX forward contracts	—		(3.3		)	Cost of products sold	(0.5		)	—
FX embedded derivatives	—		2.6			Cost of products sold	—			0.6
Commodity contracts	—		(0.9		)	Cost of products sold	0.8			0.6
	$	—	$	(7.8	)		$	0.3		$	(9.6	)

(1) During the three and six months ended July 2, 2011, losses of $0.1 and $0.2, respectively, were recognized in other income (expense), net relating to derivative ineffectiveness and amounts excluded from effectiveness testing. During the three and six months ended July 3, 2010, gains of $0.8 and $0.9, respectively, were recognized in other income (expense), net relating to derivative ineffectiveness and amounts excluded from effectiveness testing.

Schedule of the effect on the Statement of Operations of derivative financial instruments not designated in cash flow hedging relationships

The following summarizes the effect of derivative financial instruments not designated in cash flow hedging relationships on the condensed consolidated statements of operations for the three months ended July 2, 2011 and July 3, 2010:

	Classification of gain (loss) recognized in	Amount of gain (loss) recognized in income
	income	2011			2010
FX forward contracts	Other income (expense), net	$	0.9		$	2.8
FX embedded derivatives	Other income (expense), net	(2.7		)	(10.4		)
		$	(1.8	)	$	(7.6	)

The following summarizes the effect of derivative financial instruments not designated as cash flow hedging relationships on the condensed consolidated statements of operations for the six months ended July 2, 2011 and July 3, 2010:

	Classification of gain (loss) recognized in	Amount of gain (loss) recognized in income
	income	2011			2010
FX forward contracts	Other income (expense), net	$	1.6		$	2.5
FX embedded derivatives (1)	Other income (expense), net	(2.4		)	(22.5		)
		$	(0.8	)	$	(20.0	)

(1) Includes $4.6 of losses reclassified from AOCI during the six months ended July 3, 2010, resulting from the discontinuance of cash flow hedge accounting, as the forecasted transactions were determined to no longer be probable.