FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 30, 2013

Derivative financial instruments

Summarizes the gross and net fair values of contracts by counterparty

	March 30, 2013								December 31, 2012
	Gross assets		Gross liabilities			Net assets / liabilities			Gross assets		Gross liabilities			Net assets / liabilities
FX Forward Contracts:
Counterparty A	$	3.0	$	(0.5	)	$	2.5		$	0.2	$	(0.3	)	$	(0.1	)
Counterparty B	4.7		(0.6		)	4.1			0.1		(0.2		)	(0.1		)
Totals (1)	$	7.7	$	(1.1	)	$	6.6		$	0.3	$	(0.5	)	$	(0.2	)
Commodity Contracts:
Counterparty A (2)	$	—	$	(0.9	)	$	(0.9	)	$	0.3	$	(0.1	)	$	0.2

(1) We enter into arrangements designed to provide the right of setoff in the event of counterparty default or insolvency, and have elected to offset the fair values of our qualifying financial instruments in our condensed consolidated balance sheets. Amounts presented in our balance sheets are as follows:

	March 30,			December 31,
	2013			2012
Designated as hedging instruments:
Other current assets	$	6.9		$	0.1
Accrued expenses	—			(0.3		)
	6.9			(0.2		)
Not designated as hedging instruments:
Other current assets	(0.3		)	0.1
Accrued expenses	—			(0.1		)
	(0.3		)	—
Net fair value of FX forward contracts in balance sheets	$	6.6		$	(0.2	)

(2) Related contracts are designated as hedging instruments. Net amounts at March 30, 2013 and December 31, 2012 are recorded in “Accrued expenses” and “Other Current Assets,” respectively.

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

	Amount of gain (loss)						Amount of gain (loss)
	recognized in AOCI,						reclassified from AOCI to
	pre-tax (1)					Classification of gain (loss)	income, pre-tax (1)
	2013			2012		reclassified from AOCI	2013			2012
FX forward contracts	$	6.9		$	—	Cost of products sold	$	(0.6	)	$	0.5
Commodity contracts	(1.0		)	1.0		Cost of products sold	—			(0.6		)
	$	5.9		$	1.0		$	(0.6	)	$	(0.1	)

(1) Losses of $0.1 relating to derivative ineffectiveness and amounts excluded from effectiveness testing were recognized during the first quarter of 2012 in “Other income, net”.

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

	Classification of gain (loss)	Amount of gain (loss) recognized in income
	recognized in income	2013			2012
FX forward contracts	Other income, net	$	(3.0	)	$	0.7
FX embedded derivatives	Other income, net	3.1			(2.9		)
		$	0.1		$	(2.2	)

FX forward contracts

Derivative financial instruments

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

	March 30,			December 31,
	2013			2012
Designated as hedging instruments:
Other current assets	$	6.9		$	0.1
Accrued expenses	—			(0.3		)
	6.9			(0.2		)
Not designated as hedging instruments:
Other current assets	(0.3		)	0.1
Accrued expenses	—			(0.1		)
	(0.3		)	—
Net fair value of FX forward contracts in balance sheets	$	6.6		$	(0.2	)

FX embedded derivatives

Derivative financial instruments

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

	March 30,			December 31,
Balance Sheet Classification	2013			2012
Other current assets	$	0.8		$	0.3
Accrued expenses	(5.9		)	(0.9		)
Other long-term liabilities	(2.2		)	(9.8		)
	$	(7.3	)	$	(10.4	)