Fair Value of Financial Instruments (Tables)

3 Months Ended

Apr. 30, 2016

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Carried at Fair Value

Financial assets and liabilities carried at fair value at April 30, 2016 are classified in the table below in one of the three categories described above: 

	Estimated Fair Value						Total Fair Value
(in millions)	Level 1		Level 2		Level 3
Marketable securities a	$	34.2	$	—	$	—	$	34.2
Time deposits b	10.3		—		—		10.3
Derivatives designated as hedging instruments:
Precious metal forward contracts c	—		9.2		—		9.2
Precious metal collars c	—		0.9		—		0.9
Foreign exchange forward contracts c	—		0.6		—		0.6
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts c	—		0.2		—		0.2
Total financial assets	$	44.5	$	10.9	$	—	$	55.4

	Estimated Fair Value						Total Fair Value
(in millions)	Level 1		Level 2		Level 3
Derivatives designated as hedging instruments:
Precious metal collars d	$	—	$	0.5	$	—	$	0.5
Foreign exchange forward contracts d	—		14.8		—		14.8
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts d	—		2.0		—		2.0
Total financial liabilities	$	—	$	17.3	$	—	$	17.3

Financial assets and liabilities carried at fair value at April 30, 2015 are classified in the table below in one of the three categories described above:

	Estimated Fair Value						Total Fair Value
(in millions)	Level 1		Level 2		Level 3
Marketable securities a	$	55.5	$	—	$	—	$	55.5
Time deposits b	39.6		—		—		39.6
Derivatives designated as hedging instruments:
Precious metal forward contracts c	—		0.3		—		0.3
Foreign exchange forward contracts c	—		10.3		—		10.3
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts c	—		1.0		—		1.0
Total financial assets	$	95.1	$	11.6	$	—	$	106.7

	Estimated Fair Value						Total Fair Value
(in millions)	Level 1		Level 2		Level 3
Derivatives designated as hedging instruments:
Precious metal forward contracts d	$	—	$	4.7	$	—	$	4.7
Foreign exchange forward contracts d	—		0.3		—		0.3
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts d	—		5.0		—		5.0
Total financial liabilities	$	—	$	10.0	$	—	$	10.0

^a  Included within Other assets, net.

^b  Included within Short-term investments.

^c  Included within Prepaid expenses and other current assets or Other assets, net evaluated based on the maturity of the contract.

^d  Included within Accounts payable and accrued liabilities or Other long-term liabilities evaluated based on the maturity of the contract.