DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Oct. 01, 2011

DERIVATIVE FINANCIAL INSTRUMENTS

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

	October 1, 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	$	—		Other current assets	$	1.0
FX forward contracts	Other current assets	0.1			—	—
		$	0.1			$	1.0
FX forward contracts	Accrued expenses	$	—		Accrued expenses	$	(2.9	)
Commodity contracts	Accrued expenses	(2.2		)	—	—
		$	(2.2	)		$	(2.9	)
Derivative contracts not designated as hedging instruments:
FX forward contracts	Other current assets	$	1.0		Other current assets	$	0.5
FX embedded derivatives	Other current assets	0.8			Other current assets	2.6
		$	1.8			$	3.1
FX forward contracts	Accrued expenses	$	(30.9	)	Accrued expenses	$	(1.4	)
FX embedded derivatives	Accrued expenses	(0.6		)	Accrued expenses	(1.8		)
FX embedded derivatives	Other long-term liabilities	(16.6		)	Other long-term liabilities	(33.2		)
		$	(48.1	)		$	(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 October 1, 2011 and October 2, 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	$	—		$	(3.1	)	Interest expense	$	—	$	(1.9	)
Swaps	—			—			Loss on early extinguishment of interest rate protection agreements and term loan	—		(24.3		)
FX forward contracts	0.4			(1.0		)	Cost of products sold	0.1		—
FX embedded derivatives	—			(0.5		)	Cost of products sold	—		0.5
Commodity contracts	(2.4		)	0.8			Cost of products sold	0.1		(0.1		)
	$	(2.0	)	$	(3.8	)		$	0.2	$	(25.8	)

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 nine months ended October 1, 2011 and October 2, 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	$	—		$	(9.3	)	Interest expense	$	—		$	(12.7	)
Swaps	—			—			Loss on early extinguishment of interest rate protection agreements and term loan	—			(24.3		)
FX forward contracts	0.4			(4.3		)	Cost of products sold	(0.4		)	—
FX embedded derivatives	—			2.1			Cost of products sold	—			1.1
Commodity contracts	(2.4		)	(0.1		)	Cost of products sold	0.9			0.5
	$	(2.0	)	$	(11.6	)		$	0.5		$	(35.4	)

(1) During the nine months ended October 1, 2011, losses of $0.2 were recognized in “Other expense, net” relating to derivative ineffectiveness and amounts excluded from effectiveness testing. During the three and nine months ended October 2, 2010, gains of $0.2 and $1.1, respectively, were recognized in “Other 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 as cash flow hedging relationships on the condensed consolidated statements of operations for the three months ended October 1, 2011 and October 2, 2010:

	Classification of gain (loss) recognized in	Amount of gain (loss) recognized in income
	income	2011			2010
FX forward contracts	Other expense, net	$	(35.2	)	$	0.4
FX embedded derivatives	Other expense, net	3.8			(2.0		)
		$	(31.4	)	$	(1.6	)

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 nine months ended October 1, 2011 and October 2, 2010:

	Classification of gain (loss) recognized in	Amount of gain (loss) recognized in income
	income	2011			2010
FX forward contracts	Other expense, net	$	(33.6	)	$	2.9
FX embedded derivatives (1)	Other expense, net	1.0			(24.5		)
		$	(32.6	)	$	(21.6	)

(1) Includes $4.6 of losses reclassified from AOCI during the nine months ended October 2, 2010 resulting from the discontinuance of cash flow hedge accounting as the forecasted transactions were determined to no longer be probable.