Financial Instruments and Risk Management (Tables)

9 Months Ended

Oct. 02, 2011

Financial Instruments and Risk Management

Schedule of fair value of derivative instruments

($ in millions)	Derivatives Designated As Hedging Instruments		Derivatives Not Designated As Hedging Instruments		Total
Assets:
Commodity contracts	$	7.0	$	12.6	$	19.6
Other derivative contracts	1.9		11.6		13.5
Total current derivative contracts	$	8.9	$	24.2	$	33.1
Noncurrent commodity contracts	$	16.7	$	—	$	16.7
Other noncurrent contracts	0.3		0.2		0.5
Total noncurrent derivative contracts	$	17.0	$	0.2	$	17.2
Liabilities:
Commodity contracts	$	42.1	$	11.8	$	53.9
Foreign currency contracts	6.6		2.4		9.0
Other derivative contracts	1.1		0.5		1.6
Total current derivative contracts	$	49.8	$	14.7	$	64.5
Commodity contracts	$	8.4	$	0.1	$	8.5
Other derivative contracts	0.5		0.1		0.6
Total noncurrent derivative contracts	$	8.9	$	0.2	$	9.1

Fair Value of Derivative Instruments as of December 31, 2010

($ in millions)	Derivatives Designated As Hedging Instruments		Derivatives Not Designated As Hedging Instruments		Total
Assets:
Commodity contracts	$	59.9	$	35.8	$	95.7
Other derivative contracts	0.2		6.7		6.9
Total current derivative contracts	$	60.1	$	42.5	$	102.6
Noncurrent commodity contracts	$	47.3	$	1.8	$	49.1
Other noncurrent contracts	1.3		0.5		1.8
Total noncurrent derivative contracts	$	48.6	$	2.3	$	50.9
Liabilities:
Commodity contracts	$	12.9	$	35.4	$	48.3
Foreign currency contracts	1.4		7.7		9.1
Other derivative contracts	1.9		—		1.9
Total current derivative contracts	$	16.2	$	43.1	$	59.3
Noncurrent commodity contracts	$	0.3	$	1.9	$	2.2
Other noncurrent contracts	0.4		—		0.4
Total noncurrent derivative contracts	$	0.7	$	1.9	$	2.6

Schedule of impact on Earnings from Derivative Instruments

	Three months ended
	October 2, 2011					September 26, 2010
($ in millions)	Cash Flow Hedge - Reclassifed Amount From Other Comprehensive Earnings (Loss) - Gain (Loss)		Gain (Loss) on Derivatives Not Designated As Hedge Instruments			Cash Flow Hedge - Reclassifed Amount From Other Comprehensive Earnings (Loss) -  Gain (Loss)			Gain (Loss) on Derivatives Not Designated As Hedge Instruments
Commodity contracts (a)	$	18.7	$	(0.2	)	$	2.0		$	(1.7	)
Interest rate contracts (b)	—		—			(1.2		)	—
Inflation option contracts (c)	—		(0.3		)	—			(0.3		)
Foreign currency contracts (d)	0.6		10.6			(1.1		)	(3.1		)
Equity contracts (e)	—		(8.5		)	—			—
Total	$	19.3	$	1.6		$	(0.3	)	$	(5.1	)

	Nine months ended
	October 2, 2011					September 26, 2010
($ in millions)	Cash Flow Hedge - Reclassifed Amount From Other Comprehensive Earnings (Loss) - Gain (Loss)		Gain (Loss) on Derivatives Not Designated As Hedge Instruments			Cash Flow Hedge - Reclassifed Amount From Other Comprehensive Earnings (Loss) - Gain (Loss)			Gain (Loss) on Derivatives Not Designated As Hedge Instruments
Commodity contracts (a)	$	52.7	$	0.4		$	(10.5	)	$	(0.2	)
Interest rate contracts (b)	1.3		—			(3.8		)	—
Inflation option contracts (c)	—		(0.3		)	—			(0.7		)
Foreign currency contracts (d)	0.3		6.0			(1.8		)	(0.2		)
Equity contracts (e)	—		(4.3		)	—			—
Total	$	54.3	$	1.8		$	(16.1	)	$	(1.1	)

(a)Gains and losses on commodity contracts are recorded in sales and cost of sales in the statement of earnings. Virtually all these amounts were passed through to our customers, resulting in relatively no significant impact to earnings.

(b)Gains and losses on interest contracts are recorded in interest expense in the statement of earnings.

(c)Gains and losses on inflation options are recorded in cost of sales in the statement of earnings.

(d)Gains and losses on foreign currency contracts to hedge sales of product are recorded in cost of sales. Gains and losses on foreign currency hedges used for translation between segments are reflected in selling, general and administrative expenses in the statement of earnings.

(e) Gains and losses on equity contracts are recorded in selling, general and administrative expenses in the statement of earnings.